April 26, 2024 • 25 mins
In this episode of "Loan Officer Sales Training," we explore the invaluable resource of your sphere of influence and how to leverage it effectively to grow your lending business.
Join us as we discuss the significance of nurturing relationships within your sphere, including friends, family, colleagues, and past clients. Learn how to cultivate trust and credibility within your network, positioning yourself as the go-to expert for their lending needs.
Discover actionable strategies for staying top-of-mind with your sphere, including regular communication, providing value-added content, and offering personalized assistance. We'll also explore the role of referrals in expanding your sphere of influence and generating new business opportunities.
Whether you're just starting to build your sphere or looking to strengthen existing connections, this episode offers practical tips and insights to help you maximize the potential of your network. Tune in to learn how to effectively utilize your sphere to generate leads, increase referrals, and achieve sustained success as a loan officer. Don't miss this opportunity to harness the power of your sphere and propel your lending career to new heights.
For more episodes visit:
https://themortgagecalculator.com/Page/Loan-Officer-Sales-Training-Podcast
About The Mortgage Calculator:
The Mortgage Calculator is a licensed Mortgage Lender (NMLS #2377459) that specializes in using technology to enable borrowers to access Conventional, FHA, VA, and USDA Programs, as well as over 5,000 Non-QM mortgage loan programs using alternative income documentation!
Using The Mortgage Calculator proprietary technology, borrowers can instantly price and quote thousands of mortgage loan programs in just a few clicks. The Mortgage Calculator technology also enables borrowers to instantly complete a full loan application and upload documents to our AI powered software to get qualified in just minutes!
Our team of over 350 licensed Mortgage Loan Originators can assist our customers with Conventional, FHA, VA and USDA mortgages as well as access thousands of mortgage programs using Alternative Income Documentation such as Bank Statement Mortgages, P&L Mortgages, Asset Based Mortgage Programs, No Ratio CDFI Loan Programs, DSCR Investor Mortgages, Commercial Mortgages, Fix and Flip
The Mortgage Calculator is a licensed Mortgage Lender (NMLS #2377459) that specializes in using technology to enable borrowers to access Conventional, FHA, VA, and USDA Programs, as well as thousands of Non-QM mortgage loan program variations using alternative income documentation!
Using The Mortgage Calculator proprietary technology, borrowers can instantly price and quote thousands of mortgage loan programs in just a few clicks. The Mortgage Calculator technology also enables borrowers to instantly complete a full loan application and upload documents to our AI powered software to get qualified in just minutes!
Our team of licensed Mortgage Loan Originators can assist our customers with Conventional, FHA, VA and USDA mortgages as well as access thousands of mortgage programs using Alternative Income Documentation such as Ba
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Restream recording Apr 26, 2 (00:00):
So welcome everyone.
My name is Kyle Hiersche.
I'm the COO of the mortgagecalculator, and this is our loan
officer sales training that wedo every week.
Weekday at 12 p.
m.
Eastern where we go through thefront end of the business.
Now, today's topic is somethingwe've gone over before, but it's
just so important.
So we're going to be talkingabout it again here today.
(00:21):
And it's one of these.
One of these steps that peoplekind of just skip over.
So that's why I'm doing it againhere for a second time, right?
Let's, let's keep talking aboutthis.
Cause it's definitely somethingthat a lot of people either shy
away from, or just don't end updoing, or just don't think it's
as important as it is.
But let's go ahead and get intoit here.
(00:44):
Let me change the screen onesecond.
Okay.
So.
Your sphere.
Sphere is one of those words,right?
The people use all the timeparticularly in real estate,
mortgages and realtors you know,Nick and I have a real estate
(01:09):
brokerage as well, and it's thesame deal with the realtors.
Right.
But it's, it's that way for areason, right?
Because it absolutely is truethat you have to use your sphere
and, and work your sphere.
Right.
So as I, as I said, you know,it's, it's.
One of these things that a lotof people are scared of, right?
(01:29):
So either scared of, or notconfident enough or not
comfortable enough.
Or you know, just don't want totalk to people that they know
about these things basically.
Right?
As, as opposed to, you know,saying, oh, I'd rather deal with
clients that, you know, don'treally know me.
Right?
Well.
That's not the way to success inthis business, right?
(01:51):
It's all fine to call leads andto deal with people.
You don't know in person, butthe people that you do know,
we're going to be the core ofyour business for the rest of
your career.
Right?
So this is a very importanthere.
So.
What is in your sphere?
Well, every adult that you'veever met is a renter or a
(02:15):
homeowner and renters turn intohomeowners with our help.
Right?
So every adult, you know, rightnow is a client.
Or potential client, right?
And we've talked about thisbefore that even people who are
(02:36):
not adults, right?
Jose just just did a transactionnot too long ago for the 3rd
generation of a family that he'sdealing with a child that didn't
even exist.
In this world when he did theloan for the grandfather, I
guess he just did a loan for,right?
So literally everyone, you know,and people that aren't even born
(03:00):
yet that are going to end upbeing in your sphere are are
there and they're all potentialclients who would have thought,
That Jose would be, you know,doing alone for the we was the
granddaughter, right?
When she didn't even exist yet,not even close, right?
So every adult is a potentialclient right now.
(03:20):
And anyone you've ever met inyour entire life, including a
newborn or somebody that's noteven born yet is also a
potential client.
Client right now, the averagehomeowner buys a new home every
eight years.
There's like a couple ofstatistics on these stats out
there, a couple of differentplaces reported differently and
in different years, but ingeneral, average homeowner buys
(03:41):
a new home every eight years andthey refinance every three years
in between that.
Right.
So this is happening in yoursphere.
So when we talk about what is inyour sphere, transactions are in
your sphere.
So take everyone, you know, andunderstand that they're buying a
(04:04):
new home every eight years andrefinancing twice in between
that.
Right.
So you wonder what's in yoursphere.
If there's any business there,I'm telling you 100 percent for
a fact, there's a bunch ofbusiness there, there's a new
home every eight years for eachof those people that is a
homeowner.
There's a new home that there'sone transaction every eight
(04:26):
years for a new home, and thereis.
Two transactions in between thatfor refinances, right?
And so every person, you know,that's a homeowner at any given
time, if you really look at itis going to be in the middle of,
or about to do a transaction.
(04:47):
Statistically speaking, youknow, hundreds of people.
Right.
You all know, hundreds ofpeople, probably some of you
have thousands of people in yourphone, right?
Statistically speaking, many ofthem are literally in a
transaction right now, but.
You won't know that unless youwork your sphere, right?
(05:09):
And unless you're doing whatyou're supposed to be doing on
your end.
So people hear sphere, it's thisyou know, thing that's just kind
of an intangible, you know,object that just, they don't,
you know, sphere.
Yeah.
Yeah.
Whatever people I know maybe Idon't think I know anyone, you
know, that's buying a houseright now.
You absolutely do.
(05:30):
1000%.
Every single one of you knows aperson who's in the process of
buying a home right this second.
And you're not doing thetransaction because you probably
didn't do a lot of the stuffthat we talked about here.
All the experienced loanofficers on here know that if
you know, you guys probably liveand breathe this and everyone in
your sphere knows exactly whatyou do.
(05:51):
And so you're probably notmissing out on that.
But the people who aren't doingthese types of things we're
talking about here today.
are definitely missing out onthat now.
Also, anyone can become aninvestor.
So let's say we talk to somebodywho doesn't buy a home every
eight years, who's been in thesame house for 20 years, who
doesn't like to refinancebecause they're financially
(06:13):
astute and they, you know, got alow rate a long time ago, right?
Well, They can become aninvestor and anyone can become
an investor, especially with ourDSCR loans, especially because
we have options that don't evenrequire them to own a primary
home to have a DSCR loan.
(06:33):
Right?
So, I mean, it's harder, right?
But we do have at least oneoption to do that.
So that's pretty crazy, right?
Anyone in your sphere that hasYou know, whatever, maybe 50,
000 cash to put down on a on arental property, maybe less
depending on if it's a supercheap house or not.
And no income, no jobverification.
(06:56):
Sometimes, like I said, mightnot even need to own their own
home.
So not only is you know,everyone that you know, that's a
homeowner buying Every eightyears, refining every three
years, any of them at any giventime can become an investor,
even if they're not homeowners.
And then of course, if they'renot homeowners, they're prequels
(07:16):
to us.
Anybody who's not a homeowner isnot a non client there.
They are a client.
They're now prequal clients forus.
Every single person we meetthroughout our entire life, we
are now prequalifying them.
Oh, you don't own a home yet.
Well, let me work with you tomake that happen.
Let's get the prequalificationprocess started.
And I will let you know, if youdo have issues, then we'll
(07:39):
figure out how to structure itand you can work on it.
Right?
Every single person you've evermet, you should be working on
getting pre approved for a home.
If they do not own a home yet,if they do own a home, All that
business is right here and youshould be getting all of it and
maybe even turning them intoinvestors.
So you see how much is, what isin your sphere, millions of
(08:01):
dollars in your pocket.
Every single one of you, if youwork your sphere, we'll make
millions of dollars.
Absolutely.
1000 percent true.
There's no doubt about it.
But you have to do it right.
And most people don't want tojump all the way in the ones
that do jump all the way in.
Those are the experienced peoplethat if some of you are on this
call right now, you know thatyou've got to where you are
(08:23):
because you jumped all the wayin.
Right?
If you don't jump all the wayin, you're not going to be here
20 years from now, being one ofthe experienced people on this
training.
Right?
So who is your sphere?
Well, obviously friends andfamily.
That's what people think sphere.
Oh, friends and family, right?
Also business associates.
(08:45):
Previous Business associates aswell, right?
People that you used to workwith.
A lot of people don't think toreach back out to those people,
previous mortgage clients.
Obviously, if you're a loanofficer, previous other clients,
did you work in some kind ofother business where there are
people that you formedrelationships with there, as
(09:05):
long as it's not illegal orsomething from some kind of non
compete standpoint.
And particularly right now, I'mkind of talking more so about
another industry, right?
But.
Clients, current clients,previous clients, obviously
people you connect with onsocial media.
And here's a big one.
We've talked about this before.
Businesses that you support, youshould be asking for support
(09:28):
back.
We talk about this on thereciprocation training.
We're supporting their business,especially small businesses or
people that, you know, thatyou're supporting their service.
You know, even if they're not abusiness, just them, right.
You should be asking for supportback these businesses that you
frequent your barber or hairsalon or your laundry dry
(09:49):
cleaners or whatever it is.
You know, if you're supportingthese businesses, you should ask
for support back.
Would you recommend me tosomebody?
Could I put my business cardshere on the counter?
Can I You know, whatever thecase may be, and then just
people you meet in life.
Isn't that a general one thereat the end, right?
People you meet in life, anybodyand everybody Uber drivers,
(10:14):
servers, people that you're, youknow, traveling with next to on
the plane.
I mean, whatever it is, ifyou're going to really have a
lasting very lucrative you know,career in this business, that's
kind of the mode you want to bein, right?
You should be talking toeveryone, you know, and offering
(10:35):
your services.
And so how to use the sphere?
Well, first off, don't fear thesphere.
So this is especially a beginnerthing here.
So this slide, I'm kind oftalking to beginners a little
bit more.
Don't be afraid of it.
People get afraid because theyknow the person.
(10:58):
So they feel like they don'twant to like, you know, try to
be salesy or intrude or.
That they're not going to knowwhat they're, they're talking
about, or, you know, they'regoing to look bad, whatever it
is, you just got to get pastthat.
You can't be in that mind state.
You have to call or message.
And I would recommend to do botheveryone in your sphere, meaning
(11:19):
your phone contacts and yoursocial media contacts.
That's instant right now.
Obviously you keep doing thisthroughout the course of regular
activity, but right now, if youhaven't done so yet.
You need to you know, pull upyour phone and go through every
single contact and make surethat they know that this is what
you do.
Now, this is a, a big thinghere.
(11:42):
This is like the, the, the bigspeech on the sphere.
The reason why you need to letthem all know what you do is
because what you don't want isthem doing transactions.
And all of a sudden you'reseeing your friends and family
posting that they bought a newhouse and they didn't do it
through you or that theyrefinanced their house or that
(12:04):
they bought an investmentproperty.
These things happen.
And if you didn't let them knowspecifically, then it's your
fault.
You can't be mad at that, right?
So if you haven't done this yet,there's already people in your
sphere.
So if you've been active formore than a month, And you
(12:24):
haven't done this yet as a loanofficer, you've already missed
out on a bunch of money becausethere's transactions that are
already happening in yoursphere.
But guess what?
It's not their fault if theydon't use you, right?
It's your fault.
If you don't specifically reachout, tell them that's what
you're doing.
Tell them you would reallyappreciate it.
If them or anyone they knew.
(12:45):
Would come to you if they needanything with a mortgage, right?
So if you don't let them knowspecifically, then you can't
blame them when your cousin oruncle or friend or whatever ends
up doing a transaction withsomebody else, it's your fault,
right?
It's our fault for not doing ourjob of making sure everybody
(13:07):
knows.
Now, here's another thing.
We talk about on the othertrainings, putting it in
everyone's face on social media.
If you not only let them knowthe people in your sphere, Hey,
I'm specifically telling you,this is what I do.
You know, that they heard you onthe phone call.
You know, that they got the textand guess what?
(13:28):
They know that too.
So now there's a little bit ofan obligation to you because you
can be upset if they end up notworking with you.
They can't go, Oh, I didn't knowthat you did that.
You know, but if you don'tspecifically tell them an exact
phone call and text messagedirectly to them, I'm not
talking about posting one poston your Facebook saying I'm a
(13:51):
loan officer now, please contactme.
No, that's not working yoursphere.
That's not doing anything.
If we could make money by doingthat, everyone would be
millionaires.
That does nothing.
Absolutely nothing.
Matter of fact, if all you didwas post that on your Facebook,
only probably like five peoplesaw it.
Right.
The algorithm is not giving thatany love.
(14:11):
And so, you know, it's onlyourselves to blame.
Not only should we have let themknow specifically, but they
should clearly see on our socialmedia every single day that
we're doing loan stuff and thatwe're a loan officer.
There's no way in the world thatthey're going to enter a real
estate transaction And choose aloan officer and not know that
(14:35):
they are either should chooseyou or that if they don't choose
you, then they're somewhat, youknow, betraying their friend or
family member or whatever it is.
But if you don't set the propersteps for this, then they're
just going to go with whoeverthe realtor recommends to them
(14:58):
or whatever other loan officerhappened to talk to them or the
person that calls them off atrigger lead or whatever it is.
And it's our fault.
There's nobody to blame, but us,if we haven't specifically let
them know.
And then if we haven't kept itin their face, now, how do we
keep it in their face?
Again, Activity and then showingthat activity.
(15:20):
So going to events and postingit on social media, closing
deals and posting it on socialmedia with a picture with the
clients, if they're okay withthat, holding up the key to the
house, those whole pictures thatthey take at title offices,
right?
Every single day, every person,you know, that you're friends
with should be seeing this overand over.
(15:42):
And if you're doing that.
Then there's just absolutely noexcuse for them not to work with
you.
Besides the fact that they'resaying they don't want to work
with you.
Right.
But you leave open all theseexcuses.
I'm telling you, it never quitecomes around.
People don't really quite youknow, make that connection and
have that obligation to ask youwhen they, they want something,
(16:05):
because let me tell you, this iswhen you get into reality.
The reality is, is that peopleare feeling based and people
would literally say, you knowwhat?
I would feel bad if I didn't useKyle because he told me that
he's a loan officer and that I,I should use him.
So even if they don'tnecessarily want to use you.
(16:27):
You know, if they feel thismoral obligation to because you
know them and you've personallyasked them not posted on your
Facebook, you've personallyreached out to them to ask them
if they could support you andwhat you're doing.
And, you know, and so again,it's in, you can do all the
(16:47):
sales tactics you want.
But in reality, that's whathappens.
People feel obligated to use youbecause you've specifically
taken your time to reach out tothem, to tell them that's what
you do.
And they know that, you know,that they know that that's what
you do, right?
So there's no, there's noquestion to it.
But if you don't really connectthose dots, everybody's just
(17:10):
going to slip through thecracks.
People don't just get on thephone and call you randomly.
Because you did one Facebookpost saying you're a loan
officer, or you could post thatevery day.
But if you're not posting youout and about events, different
programs you know, differenthelping clients closing deals,
you know, it's, it's just notthe same thing.
(17:31):
So we got to personally contacteverybody and we gotta, you
know, make sure we're staying intheir face.
And usually with people, youknow, in your sphere, that's
just usually, you know, your,your social media, right?
Now, here's the thing.
When you're talking to yoursphere, Even if they're not
ready to do something, the keyhere is to ask if you can send a
(17:53):
practice quote.
So, especially for you newpeople here, just ask them, Hey,
you know, I got this really coolquoting system.
I'm trying to get, you know,trained and do different
scenarios.
Would it be okay if I justquoted your scenario?
Remember we don't pull credit onthem or anything.
All you got to do is ask themsix questions and then you can
(18:14):
pop out a quote to them.
Now, this does a few differentthings.
For one, it does give youpractice.
For two, it shows them that youare legitimate.
It shows them that you have thisnice quoting system and all this
(18:34):
cool stuff.
And it looks all professional,right?
So you look professional.
The outfit that you work forlooks professional and they can
actually see it on, on paper,right?
So they're, and they're alsogoing to remember it.
Now, do you think they're goingto remember you more if you just
told them that this is what youdo, or if they actually received
(18:54):
a quote from you and looked atsomething, right?
Of course, they're going toremember more and think about it
more when you actually had sentthem a quote.
Now here's what else it does.
It creates transactions.
Christina talked about the lasttime she was on the training,
talked about how she, she did apractice quote to one of her
(19:17):
friends which was actually herfirst deal.
She sent a practice quote to afriend and it was, I believe if
I'm not mistaken, I believe itwas a cash out quote.
And then her friend called herand was like, Hey, can you
really get me that money?
Can, can I really do that?
And she was like, yeah, we cando that.
And so she ended up doing thedeal.
So her first transaction.
(19:39):
Came from her sending a practicequote to somebody who she just
genuinely asked.
Look, can I just quote yourscenario?
Cause I'm just trying to quotescenarios, right?
So a few things can happenthere.
You're getting practice.
You're you're, you're the peoplein your sphere are seeing that
you're professional, that youhave real systems there.
They're it's branding it intotheir head that this is what you
(19:59):
do.
They've engaged in it andreceive text and email, you
know, they're in the mix now.
Right.
And then again, also it canliterally create deals.
Now, is this going to create adeal for all of you when you go
do this?
Obviously not.
Christina kind of hit thejackpot there on that one.
It's not going to happen all thetime, but the fact is it
happened.
If it happened once, it couldhappen again.
(20:20):
Right?
So just sending practice quotesis, is an amazing thing,
especially when you're startingout and then of course, ask for
referrals from their sphere.
Right.
Remember that even if they'renot a client, they can still
refer clients.
So make sure when you're talkingto people in your sphere, you're
(20:41):
not just letting them know, youknow, Hey, I want you to know
this is what I do.
Cause I want you to be able to,I want to be able to help you
when, you know, the time comesyou want to ask them, please, if
anybody else that, you know,ever talks to you, talking to
you about mortgages or buying anew house or something, please
let them know.
About me and connect them withme.
I would really appreciate it.
(21:01):
So now you're, you're squaringyour sphere, right?
It's your sphere.
Their sphere, right?
And so you know, just not, don'tjust stop at talking to them
about themselves.
We want to make sure theyunderstand that we're here to
help anybody and everybody.
And we would really appreciateit.
If anybody, they knew that theywere talking to about anything
(21:24):
in this industry.
That they say, Hey, you know, Iknow somebody who's great
connect me with them.
And I would really appreciatethat.
So not just about the actualperson themselves, but you never
know.
They may be, they may talk tosomebody the next day.
Right?
So again, all the people in yoursphere.
(21:44):
Same thing is going on in theirsphere with how many
transactions are going on withpeople.
They know they're just notthinking about it, right?
But now that they've talked toyou about it and now that
they've gotten a quote from youand they got this cool looking
quote and all this stuff.
Now, when the topic comes up,they're going to actually think
about it and it will cross theirmind.
And if you told them, I'd reallyappreciate it.
(22:05):
If you.
You know, told whoever you'retalking, whoever's talking to
you about it, about me, it's allgoing to click, right?
This doesn't just all happen,you know, by osmosis, right?
You got, you got to plant thoseseeds to when that person is in
that situation, it all clicksbecause we've done our job,
we've personally reached out tothem and let them know what we
(22:26):
do.
We've been in front of them onsocial media, doing our things,
putting ourselves out there asan expert.
Right.
And so if we, and then plantedthe seed that not only are we
hoping that they'll use us, butwe're hoping that they will
refer us people to.
So when you've done all theproper steps and then planted
the seeds, that's what's goingto trigger that, you know,
(22:48):
memory and trigger in theirmind.
Like, oh, yeah, I shouldrecommend them to Kyle because
he, you know, he said, he askedme if I could do that.
Right.
So we got to plant those seedsand we got to do our part.
So working your sphere,extremely important.
The actionable item for today isobviously to pull up your phone,
go through every contact call ortext.
(23:10):
I recommend doing both to textpeople who don't answer, but to
call them and just let everybodyknow, because.
You know, you also may thinklike, oh, I called everybody
and, you know, nothing, nothinghappened today, but this is for
years to come.
You got to do it now so thatevery single day it's working
for you.
Once you've done this andplanted those seeds, they're
(23:32):
going to be growing.
Now, the water that you put onthose seeds is going to be the
social media stuff.
It's going to be the staying infront of all of them, but first
you got to plant the seedsfirst.
You got to tell them this iswhat we do, right?
We're planting the seed to everysingle person.
We know this is what we do.
Then we're going to water it,right?
Because we're going to be outthere constantly helping it
(23:53):
grow, staying in their face.
And just at the end of the day,that's all going to end up
growing into more revenue later,right?
Because those there, it's goingto be working for you while
you're working on leads and allthis other stuff.
Okay.
The seeds that you planted inyour sphere properly in the
beginning are going to beworking for you and you're going
(24:15):
to be getting deals out of it,not only from the people in your
sphere, but even people in theirsphere.
So plant the seeds now and letit work for you while you're
working on leads and gettingbusiness outside of your sphere,
let your sphere work for you.
All right.
I don't see any questions here.
(24:36):
I think we'll go ahead and wrapit up.
So remember weekend is the besttime to make calls.
So I would let everybody in yoursphere know today what you do.
And then I would spend theweekend making calls if you
really want to get some thingsgoing.
So appreciate everybody tuningin.
Remember we do this at 12 PMEastern, where we go through the
front end of the mortgagebusiness every weekday.
(24:58):
So we'll be back next week withsome new topics.
Appreciate you tuning in.
We'll see you Monday, 12 PMEastern for the next episode of
the loan officer sales trainingwith mortgage.
So welcome everyone.
My name is Kyle Hiersche.
I'm the COO of the mortgagecalculator, and this is our loan
officer sales training that wedo every week.
Weekday at 12 p.
m.
Eastern where we go through thefront end of the business.
Now, today's topic is somethingwe've gone over before, but it's
just so important.
So we're going to be talkingabout it again here today.
(00:21):
And it's one of these.
One of these steps that peoplekind of just skip over.
So that's why I'm doing it againhere for a second time, right?
Let's, let's keep talking aboutthis.
Cause it's definitely somethingthat a lot of people either shy
away from, or just don't end updoing, or just don't think it's
as important as it is.
But let's go ahead and get intoit here.
(00:44):
Let me change the screen onesecond.
Okay.
So.
Your sphere.
Sphere is one of those words,right?
The people use all the timeparticularly in real estate,
mortgages and realtors you know,Nick and I have a real estate
(01:09):
brokerage as well, and it's thesame deal with the realtors.
Right.
But it's, it's that way for areason, right?
Because it absolutely is truethat you have to use your sphere
and, and work your sphere.
Right.
So as I, as I said, you know,it's, it's.
One of these things that a lotof people are scared of, right?
(01:29):
So either scared of, or notconfident enough or not
comfortable enough.
Or you know, just don't want totalk to people that they know
about these things basically.
Right?
As, as opposed to, you know,saying, oh, I'd rather deal with
clients that, you know, don'treally know me.
Right?
Well.
That's not the way to success inthis business, right?
(01:51):
It's all fine to call leads andto deal with people.
You don't know in person, butthe people that you do know,
we're going to be the core ofyour business for the rest of
your career.
Right?
So this is a very importanthere.
So.
What is in your sphere?
Well, every adult that you'veever met is a renter or a
(02:15):
homeowner and renters turn intohomeowners with our help.
Right?
So every adult, you know, rightnow is a client.
Or potential client, right?
And we've talked about thisbefore that even people who are
(02:36):
not adults, right?
Jose just just did a transactionnot too long ago for the 3rd
generation of a family that he'sdealing with a child that didn't
even exist.
In this world when he did theloan for the grandfather, I
guess he just did a loan for,right?
So literally everyone, you know,and people that aren't even born
(03:00):
yet that are going to end upbeing in your sphere are are
there and they're all potentialclients who would have thought,
That Jose would be, you know,doing alone for the we was the
granddaughter, right?
When she didn't even exist yet,not even close, right?
So every adult is a potentialclient right now.
(03:20):
And anyone you've ever met inyour entire life, including a
newborn or somebody that's noteven born yet is also a
potential client.
Client right now, the averagehomeowner buys a new home every
eight years.
There's like a couple ofstatistics on these stats out
there, a couple of differentplaces reported differently and
in different years, but ingeneral, average homeowner buys
(03:41):
a new home every eight years andthey refinance every three years
in between that.
Right.
So this is happening in yoursphere.
So when we talk about what is inyour sphere, transactions are in
your sphere.
So take everyone, you know, andunderstand that they're buying a
(04:04):
new home every eight years andrefinancing twice in between
that.
Right.
So you wonder what's in yoursphere.
If there's any business there,I'm telling you 100 percent for
a fact, there's a bunch ofbusiness there, there's a new
home every eight years for eachof those people that is a
homeowner.
There's a new home that there'sone transaction every eight
(04:26):
years for a new home, and thereis.
Two transactions in between thatfor refinances, right?
And so every person, you know,that's a homeowner at any given
time, if you really look at itis going to be in the middle of,
or about to do a transaction.
(04:47):
Statistically speaking, youknow, hundreds of people.
Right.
You all know, hundreds ofpeople, probably some of you
have thousands of people in yourphone, right?
Statistically speaking, many ofthem are literally in a
transaction right now, but.
You won't know that unless youwork your sphere, right?
(05:09):
And unless you're doing whatyou're supposed to be doing on
your end.
So people hear sphere, it's thisyou know, thing that's just kind
of an intangible, you know,object that just, they don't,
you know, sphere.
Yeah.
Yeah.
Whatever people I know maybe Idon't think I know anyone, you
know, that's buying a houseright now.
You absolutely do.
(05:30):
1000%.
Every single one of you knows aperson who's in the process of
buying a home right this second.
And you're not doing thetransaction because you probably
didn't do a lot of the stuffthat we talked about here.
All the experienced loanofficers on here know that if
you know, you guys probably liveand breathe this and everyone in
your sphere knows exactly whatyou do.
(05:51):
And so you're probably notmissing out on that.
But the people who aren't doingthese types of things we're
talking about here today.
are definitely missing out onthat now.
Also, anyone can become aninvestor.
So let's say we talk to somebodywho doesn't buy a home every
eight years, who's been in thesame house for 20 years, who
doesn't like to refinancebecause they're financially
(06:13):
astute and they, you know, got alow rate a long time ago, right?
Well, They can become aninvestor and anyone can become
an investor, especially with ourDSCR loans, especially because
we have options that don't evenrequire them to own a primary
home to have a DSCR loan.
(06:33):
Right?
So, I mean, it's harder, right?
But we do have at least oneoption to do that.
So that's pretty crazy, right?
Anyone in your sphere that hasYou know, whatever, maybe 50,
000 cash to put down on a on arental property, maybe less
depending on if it's a supercheap house or not.
And no income, no jobverification.
(06:56):
Sometimes, like I said, mightnot even need to own their own
home.
So not only is you know,everyone that you know, that's a
homeowner buying Every eightyears, refining every three
years, any of them at any giventime can become an investor,
even if they're not homeowners.
And then of course, if they'renot homeowners, they're prequels
(07:16):
to us.
Anybody who's not a homeowner isnot a non client there.
They are a client.
They're now prequal clients forus.
Every single person we meetthroughout our entire life, we
are now prequalifying them.
Oh, you don't own a home yet.
Well, let me work with you tomake that happen.
Let's get the prequalificationprocess started.
And I will let you know, if youdo have issues, then we'll
(07:39):
figure out how to structure itand you can work on it.
Right?
Every single person you've evermet, you should be working on
getting pre approved for a home.
If they do not own a home yet,if they do own a home, All that
business is right here and youshould be getting all of it and
maybe even turning them intoinvestors.
So you see how much is, what isin your sphere, millions of
(08:01):
dollars in your pocket.
Every single one of you, if youwork your sphere, we'll make
millions of dollars.
Absolutely.
1000 percent true.
There's no doubt about it.
But you have to do it right.
And most people don't want tojump all the way in the ones
that do jump all the way in.
Those are the experienced peoplethat if some of you are on this
call right now, you know thatyou've got to where you are
(08:23):
because you jumped all the wayin.
Right?
If you don't jump all the wayin, you're not going to be here
20 years from now, being one ofthe experienced people on this
training.
Right?
So who is your sphere?
Well, obviously friends andfamily.
That's what people think sphere.
Oh, friends and family, right?
Also business associates.
(08:45):
Previous Business associates aswell, right?
People that you used to workwith.
A lot of people don't think toreach back out to those people,
previous mortgage clients.
Obviously, if you're a loanofficer, previous other clients,
did you work in some kind ofother business where there are
people that you formedrelationships with there, as
(09:05):
long as it's not illegal orsomething from some kind of non
compete standpoint.
And particularly right now, I'mkind of talking more so about
another industry, right?
But.
Clients, current clients,previous clients, obviously
people you connect with onsocial media.
And here's a big one.
We've talked about this before.
Businesses that you support, youshould be asking for support
(09:28):
back.
We talk about this on thereciprocation training.
We're supporting their business,especially small businesses or
people that, you know, thatyou're supporting their service.
You know, even if they're not abusiness, just them, right.
You should be asking for supportback these businesses that you
frequent your barber or hairsalon or your laundry dry
(09:49):
cleaners or whatever it is.
You know, if you're supportingthese businesses, you should ask
for support back.
Would you recommend me tosomebody?
Could I put my business cardshere on the counter?
Can I You know, whatever thecase may be, and then just
people you meet in life.
Isn't that a general one thereat the end, right?
People you meet in life, anybodyand everybody Uber drivers,
(10:14):
servers, people that you're, youknow, traveling with next to on
the plane.
I mean, whatever it is, ifyou're going to really have a
lasting very lucrative you know,career in this business, that's
kind of the mode you want to bein, right?
You should be talking toeveryone, you know, and offering
(10:35):
your services.
And so how to use the sphere?
Well, first off, don't fear thesphere.
So this is especially a beginnerthing here.
So this slide, I'm kind oftalking to beginners a little
bit more.
Don't be afraid of it.
People get afraid because theyknow the person.
(10:58):
So they feel like they don'twant to like, you know, try to
be salesy or intrude or.
That they're not going to knowwhat they're, they're talking
about, or, you know, they'regoing to look bad, whatever it
is, you just got to get pastthat.
You can't be in that mind state.
You have to call or message.
And I would recommend to do botheveryone in your sphere, meaning
(11:19):
your phone contacts and yoursocial media contacts.
That's instant right now.
Obviously you keep doing thisthroughout the course of regular
activity, but right now, if youhaven't done so yet.
You need to you know, pull upyour phone and go through every
single contact and make surethat they know that this is what
you do.
Now, this is a, a big thinghere.
(11:42):
This is like the, the, the bigspeech on the sphere.
The reason why you need to letthem all know what you do is
because what you don't want isthem doing transactions.
And all of a sudden you'reseeing your friends and family
posting that they bought a newhouse and they didn't do it
through you or that theyrefinanced their house or that
(12:04):
they bought an investmentproperty.
These things happen.
And if you didn't let them knowspecifically, then it's your
fault.
You can't be mad at that, right?
So if you haven't done this yet,there's already people in your
sphere.
So if you've been active formore than a month, And you
(12:24):
haven't done this yet as a loanofficer, you've already missed
out on a bunch of money becausethere's transactions that are
already happening in yoursphere.
But guess what?
It's not their fault if theydon't use you, right?
It's your fault.
If you don't specifically reachout, tell them that's what
you're doing.
Tell them you would reallyappreciate it.
If them or anyone they knew.
(12:45):
Would come to you if they needanything with a mortgage, right?
So if you don't let them knowspecifically, then you can't
blame them when your cousin oruncle or friend or whatever ends
up doing a transaction withsomebody else, it's your fault,
right?
It's our fault for not doing ourjob of making sure everybody
(13:07):
knows.
Now, here's another thing.
We talk about on the othertrainings, putting it in
everyone's face on social media.
If you not only let them knowthe people in your sphere, Hey,
I'm specifically telling you,this is what I do.
You know, that they heard you onthe phone call.
You know, that they got the textand guess what?
(13:28):
They know that too.
So now there's a little bit ofan obligation to you because you
can be upset if they end up notworking with you.
They can't go, Oh, I didn't knowthat you did that.
You know, but if you don'tspecifically tell them an exact
phone call and text messagedirectly to them, I'm not
talking about posting one poston your Facebook saying I'm a
(13:51):
loan officer now, please contactme.
No, that's not working yoursphere.
That's not doing anything.
If we could make money by doingthat, everyone would be
millionaires.
That does nothing.
Absolutely nothing.
Matter of fact, if all you didwas post that on your Facebook,
only probably like five peoplesaw it.
Right.
The algorithm is not giving thatany love.
(14:11):
And so, you know, it's onlyourselves to blame.
Not only should we have let themknow specifically, but they
should clearly see on our socialmedia every single day that
we're doing loan stuff and thatwe're a loan officer.
There's no way in the world thatthey're going to enter a real
estate transaction And choose aloan officer and not know that
(14:35):
they are either should chooseyou or that if they don't choose
you, then they're somewhat, youknow, betraying their friend or
family member or whatever it is.
But if you don't set the propersteps for this, then they're
just going to go with whoeverthe realtor recommends to them
(14:58):
or whatever other loan officerhappened to talk to them or the
person that calls them off atrigger lead or whatever it is.
And it's our fault.
There's nobody to blame, but us,if we haven't specifically let
them know.
And then if we haven't kept itin their face, now, how do we
keep it in their face?
Again, Activity and then showingthat activity.
(15:20):
So going to events and postingit on social media, closing
deals and posting it on socialmedia with a picture with the
clients, if they're okay withthat, holding up the key to the
house, those whole pictures thatthey take at title offices,
right?
Every single day, every person,you know, that you're friends
with should be seeing this overand over.
(15:42):
And if you're doing that.
Then there's just absolutely noexcuse for them not to work with
you.
Besides the fact that they'resaying they don't want to work
with you.
Right.
But you leave open all theseexcuses.
I'm telling you, it never quitecomes around.
People don't really quite youknow, make that connection and
have that obligation to ask youwhen they, they want something,
(16:05):
because let me tell you, this iswhen you get into reality.
The reality is, is that peopleare feeling based and people
would literally say, you knowwhat?
I would feel bad if I didn't useKyle because he told me that
he's a loan officer and that I,I should use him.
So even if they don'tnecessarily want to use you.
(16:27):
You know, if they feel thismoral obligation to because you
know them and you've personallyasked them not posted on your
Facebook, you've personallyreached out to them to ask them
if they could support you andwhat you're doing.
And, you know, and so again,it's in, you can do all the
(16:47):
sales tactics you want.
But in reality, that's whathappens.
People feel obligated to use youbecause you've specifically
taken your time to reach out tothem, to tell them that's what
you do.
And they know that, you know,that they know that that's what
you do, right?
So there's no, there's noquestion to it.
But if you don't really connectthose dots, everybody's just
(17:10):
going to slip through thecracks.
People don't just get on thephone and call you randomly.
Because you did one Facebookpost saying you're a loan
officer, or you could post thatevery day.
But if you're not posting youout and about events, different
programs you know, differenthelping clients closing deals,
you know, it's, it's just notthe same thing.
(17:31):
So we got to personally contacteverybody and we gotta, you
know, make sure we're staying intheir face.
And usually with people, youknow, in your sphere, that's
just usually, you know, your,your social media, right?
Now, here's the thing.
When you're talking to yoursphere, Even if they're not
ready to do something, the keyhere is to ask if you can send a
(17:53):
practice quote.
So, especially for you newpeople here, just ask them, Hey,
you know, I got this really coolquoting system.
I'm trying to get, you know,trained and do different
scenarios.
Would it be okay if I justquoted your scenario?
Remember we don't pull credit onthem or anything.
All you got to do is ask themsix questions and then you can
(18:14):
pop out a quote to them.
Now, this does a few differentthings.
For one, it does give youpractice.
For two, it shows them that youare legitimate.
It shows them that you have thisnice quoting system and all this
(18:34):
cool stuff.
And it looks all professional,right?
So you look professional.
The outfit that you work forlooks professional and they can
actually see it on, on paper,right?
So they're, and they're alsogoing to remember it.
Now, do you think they're goingto remember you more if you just
told them that this is what youdo, or if they actually received
(18:54):
a quote from you and looked atsomething, right?
Of course, they're going toremember more and think about it
more when you actually had sentthem a quote.
Now here's what else it does.
It creates transactions.
Christina talked about the lasttime she was on the training,
talked about how she, she did apractice quote to one of her
(19:17):
friends which was actually herfirst deal.
She sent a practice quote to afriend and it was, I believe if
I'm not mistaken, I believe itwas a cash out quote.
And then her friend called herand was like, Hey, can you
really get me that money?
Can, can I really do that?
And she was like, yeah, we cando that.
And so she ended up doing thedeal.
So her first transaction.
(19:39):
Came from her sending a practicequote to somebody who she just
genuinely asked.
Look, can I just quote yourscenario?
Cause I'm just trying to quotescenarios, right?
So a few things can happenthere.
You're getting practice.
You're you're, you're the peoplein your sphere are seeing that
you're professional, that youhave real systems there.
They're it's branding it intotheir head that this is what you
(19:59):
do.
They've engaged in it andreceive text and email, you
know, they're in the mix now.
Right.
And then again, also it canliterally create deals.
Now, is this going to create adeal for all of you when you go
do this?
Obviously not.
Christina kind of hit thejackpot there on that one.
It's not going to happen all thetime, but the fact is it
happened.
If it happened once, it couldhappen again.
(20:20):
Right?
So just sending practice quotesis, is an amazing thing,
especially when you're startingout and then of course, ask for
referrals from their sphere.
Right.
Remember that even if they'renot a client, they can still
refer clients.
So make sure when you're talkingto people in your sphere, you're
(20:41):
not just letting them know, youknow, Hey, I want you to know
this is what I do.
Cause I want you to be able to,I want to be able to help you
when, you know, the time comesyou want to ask them, please, if
anybody else that, you know,ever talks to you, talking to
you about mortgages or buying anew house or something, please
let them know.
About me and connect them withme.
I would really appreciate it.
(21:01):
So now you're, you're squaringyour sphere, right?
It's your sphere.
Their sphere, right?
And so you know, just not, don'tjust stop at talking to them
about themselves.
We want to make sure theyunderstand that we're here to
help anybody and everybody.
And we would really appreciateit.
If anybody, they knew that theywere talking to about anything
(21:24):
in this industry.
That they say, Hey, you know, Iknow somebody who's great
connect me with them.
And I would really appreciatethat.
So not just about the actualperson themselves, but you never
know.
They may be, they may talk tosomebody the next day.
Right?
So again, all the people in yoursphere.
(21:44):
Same thing is going on in theirsphere with how many
transactions are going on withpeople.
They know they're just notthinking about it, right?
But now that they've talked toyou about it and now that
they've gotten a quote from youand they got this cool looking
quote and all this stuff.
Now, when the topic comes up,they're going to actually think
about it and it will cross theirmind.
And if you told them, I'd reallyappreciate it.
(22:05):
If you.
You know, told whoever you'retalking, whoever's talking to
you about it, about me, it's allgoing to click, right?
This doesn't just all happen,you know, by osmosis, right?
You got, you got to plant thoseseeds to when that person is in
that situation, it all clicksbecause we've done our job,
we've personally reached out tothem and let them know what we
(22:26):
do.
We've been in front of them onsocial media, doing our things,
putting ourselves out there asan expert.
Right.
And so if we, and then plantedthe seed that not only are we
hoping that they'll use us, butwe're hoping that they will
refer us people to.
So when you've done all theproper steps and then planted
the seeds, that's what's goingto trigger that, you know,
(22:48):
memory and trigger in theirmind.
Like, oh, yeah, I shouldrecommend them to Kyle because
he, you know, he said, he askedme if I could do that.
Right.
So we got to plant those seedsand we got to do our part.
So working your sphere,extremely important.
The actionable item for today isobviously to pull up your phone,
go through every contact call ortext.
(23:10):
I recommend doing both to textpeople who don't answer, but to
call them and just let everybodyknow, because.
You know, you also may thinklike, oh, I called everybody
and, you know, nothing, nothinghappened today, but this is for
years to come.
You got to do it now so thatevery single day it's working
for you.
Once you've done this andplanted those seeds, they're
(23:32):
going to be growing.
Now, the water that you put onthose seeds is going to be the
social media stuff.
It's going to be the staying infront of all of them, but first
you got to plant the seedsfirst.
You got to tell them this iswhat we do, right?
We're planting the seed to everysingle person.
We know this is what we do.
Then we're going to water it,right?
Because we're going to be outthere constantly helping it
(23:53):
grow, staying in their face.
And just at the end of the day,that's all going to end up
growing into more revenue later,right?
Because those there, it's goingto be working for you while
you're working on leads and allthis other stuff.
Okay.
The seeds that you planted inyour sphere properly in the
beginning are going to beworking for you and you're going
(24:15):
to be getting deals out of it,not only from the people in your
sphere, but even people in theirsphere.
So plant the seeds now and letit work for you while you're
working on leads and gettingbusiness outside of your sphere,
let your sphere work for you.
All right.
I don't see any questions here.
(24:36):
I think we'll go ahead and wrapit up.
So remember weekend is the besttime to make calls.
So I would let everybody in yoursphere know today what you do.
And then I would spend theweekend making calls if you
really want to get some thingsgoing.
So appreciate everybody tuningin.
Remember we do this at 12 PMEastern, where we go through the
front end of the mortgagebusiness every weekday.
(24:58):
So we'll be back next week withsome new topics.
Appreciate you tuning in.
We'll see you Monday, 12 PMEastern for the next episode of
the loan officer sales trainingwith mortgage.
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