November 7, 2024 • 27 mins
In this episode, I share my unfiltered answers to 5 of the questions I get asked most often by Brokers and Agents, with topics including CRMs, Realtors, and brokerages.
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Episode Transcript
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(00:00):
Welcome to the mortgage game.
(00:03):
I truly, truly believe that
building a mortgage business, asuccessful one, is like playing a
game.
There's winners, there's losers,
there's certain things you try.
Some of us are playing checkers
while others are playing chess.
I've had the ability to coach and
mentor hundreds of mortgagebrokers.
I myself built a very nicebusiness.
(00:26):
So now I want to distill all thatinformation, all the things I've
learned from that and bring itdirectly to you in a simple to
understand way.
I hope you enjoy.
Okay, welcome to this week'sepisode of the Mortgage Game
Podcast.
West Coast Wiley in the house
coming to you live on video now,not just sitting in my truck
anymore.
We had a good run.
(00:47):
We definitely did.
If you've listened to the podcast,
you get it.
So let's get into it.
So this week, I'm going to coverfive questions I get asked all the
frickin' time.
And I'm not saying that's a bad
thing.
Keep the questions coming because
it allows me to make videos andpodcasts and stuff like this.
There's probably about 20questions and I'll get those in
(01:08):
other segments.
But for this, I've carved out five
questions.
I get asked all like weekly.
I get asked and I don't mindanswering them, but I figure, hey,
let's just put them on here onYouTube, on the podcast, and let's
go from there.
So let's get into it.
Number one, Ryan, what databaseshould I use?
What type of, sorry, CRM should Iuse?
Ah, that old question.
(01:30):
Then the old answer is that the
answer you hear everyone says, theone you're going to use.
Well, sure.
Okay.
Yes, I agree.
That's a cliche answer, but I
totally get it.
Cliches work in a lot of
scenarios.
I'm going to go a little deeper on
that though.
Okay.
So if I'm brokering and I'm comingback, and so here's my philosophy
(01:51):
on this.
Like most of the stuff you've been
following me long enough, youknow, like I don't sit on the
fence on shit.
I just don't.
I go one way or the other and I'llback it up with my reasoning and
I'll show you stats and I won'tjust throw stuff out there and go,
yeah, that's what I think.
Sometimes once in a while, but
most times I will back it up withinformation and reasoning as to
(02:14):
why I have that opinion.
So what CRM would I use?
Well, I personally think, before Itell you what I would use, I
personally think a lot of mortgagebrokers are overcomplicating their
business and they feel betterabout themselves because they have
their CRM set up.
And they feel like because they
have one and they've got someautomation built in and you don't
(02:35):
need all that.
I'm just telling you, you do not
need that.
I ran a mortgage business for 12,
13 years and we did not have aCRM.
We had an Excel spreadsheet.
It's an Excel spreadsheet.
And I know a lot of top producers,but that's all they use.
It's not connected to anything.
It's not connected to a submission
platform.
It's not connected where emails go
out.
(02:55):
I always come back to how many
deals are you doing?Seriously, we were doing between
100, 180 files depending on wherewe were at a year.
I ran a spreadsheet and we emailmarketed out we email marketed out
of BombBomb.
That was my favorite software to
use with video marketing.
We could build drip campaigns.
(03:15):
You don't need these fancy CRMs.
And I know there's ones that say
they're simple.
And I know there's ones that say,
hey, we do this and we doautomation.
Sure, but you don't need it.
And a lot of times you're just
putting yourself on this massivelearning curve.
You're setting up all these stepsin your process that you really
don't need.
(03:35):
And so for me, my answer is, what
CR your language you use?I'm not going to go, whatever one
you use.
I'm just going to say an Excel
spreadsheet.
I don't want to pay for something
else.
And I'm not saying I'm cheap here
because I'm not.
I'll spend money to make money all
day long.
But the spreadsheet does the job
and you can make it as robust asyou like.
spreadsheet does the job and youcan make it as robust as you like.
(03:57):
And you can't convince me thatsomeone running 20 files a year,
40 files a year, 80, 100, 150,180, because I live that world,
that you need a CRM to do all thatand that it actually makes your
life easier.
Quite contrary.
that and that it actually makesyour life easier.
Quite contrary.
Don't believe it.
Till proven If someone wants tohave a debate on by the reach out
(04:18):
to me.
otherwise.
that, way, You know where to findI'll me.
gladly do that.
I just think there's a lot of
services out there that arepromoting things and they're like,
we're hey, going to solve yourbusiness.
No CRM is going to solve yourbusiness.
No CRM is going to make yourbusiness go from here to here.
It's just not how it works.
It's like a catalog.
That's all it is.
It just holds data.
(04:38):
And so you can get the ones wherethey overcomplicate and it's part
of a submission platform becausethey want you to get on the
submission platform.
So they build these inferior
products to kind of layer aroundthe submission platform so they
use the submission platform.
You can't go anywhere else and
they force you to use it becausethey get beeps on the back end and
they get kickbacks from thelenders.
I'm just going to use whateversubmission platform I choose, and
(05:00):
I'm going to use an Excelspreadsheet.
That's question number one.
Okay, question number two.
Ryan, how do I know who my avataris?
First off, what is an avatar?An avatar is your ideal client.
before Okay, I tell how do youyou, know who my avatar is?
First what is off, an avatar?An avatar is your ideal client.
Okay, before I tell you, how doyou know who your avatar is?
(05:20):
You need to know what an avataris.
If I said to you, who's thatperfect client you want to work
with?Think back to all the clients
you've worked with.
Who is it?
Give them a name, right?Tom and Sally Smith.
That was mine.
Tom and Sally Smith.
So how do you know your avatar?I'm going to explain who mine was,
and then I'm going to give yousome tips because it's different
for everybody.
If you are brand new, sorry, I'll
explain who mine was.
Tom and Sally Smith, provable
income, household income of 250plus, white collar professionals,
appreciated another professional,myself, taking care of their
(05:41):
mortgage and other financingsituations around their mortgage.
White glove concierge style wouldpay a premium to work with me
because I'm never going to be thelowest rate.
We're never going to be the lowestrate, by the way.
Insured deals, blah, blah.
Okay.
Yeah.
For the most part, uninsured
files, we will not be the lowestrate.
So you need to come up withsomething else.
(06:03):
So that was my ideal person, not aprice shopper, not a rate shopper.
I want someone that appreciate,valued their time, right?
And white collar professionals,they value their time.
They've got young kids,potentially they're being, they're
trying to climb the corporateladder.
They're like, they just don't havetime to like go and source all
this shit out.
And then to realize maybe they
didn't know what they were doing.
And they understand someone else
who's educated in the skill setand spend time upping their game
(06:24):
to have that person in your cornerat guess what zero cost maybe a
premium on the interest rate butwe're going to make that back in
other ways that was my avatar sowho how do you know who your
avatar is well if you're newer tothe industry you should not make
that decision right now you needto go why you need to go get
exposure to a bunch of differentdeals.
(06:46):
Commercial, residential, B,private, all day, self-employed, A
stuff, like everything.
You need to go get investors.
Go get it all.
And then you'll quickly decide
probably, I don't know how manyfiles it'll be.
It might take you two years.
It might take you 30 files.
I don't know.
You'll start to realize which
files feel warm and fuzzy to youthat you want to work with.
And so this is what I will tellyou.
If you are still in the businessand you have been however long,
(07:08):
you've been in the business for adecent amount of time, five years,
10 years, 15 years, and you don'thave an avatar dialed in, you're
doing something wrong.
And I get it.
I get it.
I understand.
A lot of you, you're trying totake on anything that comes to you
right now, especially when timesare a little tougher.
Applications are a little harderto piece together, a little harder
(07:30):
to get people on the phone toactually see if they'll give you
an application.
So you're just taking everything.
You're scrambling.
So my mentality on that is if
you're trying to be everything toeveryone, you're being nothing.
You can't be everything toeveryone.
You just, it's impossible.
It's impossible for you.
You might as well be thatrestaurant.
You know, those restaurants wherethey have 72 dishes on the nine
pages of the menu and you are, youopen it and you're like, Oh God, I
(07:51):
already know none of this is goingto be good.
Like you already know versus theplace you go and they have like,
we have 12 things.
They're going to knock out of the
park, all 12 things.
So you need to figure out who that
person is and you reverse engineerwhere you go find those people.
And I get it.
If you do all day private and you
do all these things, like thinkabout the logic here for you to
know all the guidelines for allthose different lenders to knock
(08:13):
that out of the park, all therelationships you have to manage
with all those different lendersand BDMs and underwriters.
It's a moving target in some ofthose areas with B lenders and
privates, and everything's alwayschanging.
The A stuff stays a little more ofthe same.
For you to stay on top of allthat, that's exhausting.
And for you to be phenomenal atit, even if you get a deal done,
let's say A client is who youprefer working but you get with,
some B And let's deals.
(08:35):
say a client is who you prefer
working with, but you get some Bdeals.
And let's say you get it done at aB lender, just because someone
gave you an approval doesn't meanthat was the right spot for that
client.
So this happened to me in my
mortgage career.
I'd get the deal done.
EQ Bank, I believe it was.
And I'd compare notes with an
actual B person who was aspecialist.
And they're like, oh no, Ryan, youshould have went And here, that's
(08:59):
here, why you here.
cost your client six Client didn
who grand.
was a And they're specialist.
oh you like, should have no, Ryan,went here.
here, here, And that's why youcost your client six grand.
Client didn't have a clue.
I was like, oh man, damn.
So instead I referred out thatbusiness.
So I could go focus on my avatar,referred out, I took 25%.
And that's what I'm tellingeveryone I coach to go do is do
that.
And then it allows me to identify
my avatar.
I only want to work with the same
people over and over.
(09:20):
If you're dealing with all three
of those categories, I knowthere's more categories than that,
but I'm putting them in thosethree categories of A, B, and
private.
You're dealing with three
different types of personalities.
You're dealing with three
different types of income,documentation, provability,
situations, credit scores, all ofthat.
It's just a bunch of shit comingin and you're looking through it
all trying to figure your way.
Is this the lender?
Is that what I want?And it's exhausting and you're
never going to knock it on thepark.
You're never going to be amazingat it.
If you have an underwriter whoknows the answers to all of that
(09:42):
stuff, there's an argument to bemade that you just bring it in,
let them sift through it.
You handle a discovery call, let
them sift through it, and thenthey place the deal.
Sure.
To find those types of people,
those Swiss army knifeunderwriters, you're going to have
to pay them a lot of money.
And B, what type of business are
you running?Most mortgage brokers are one man
(10:03):
or one woman band shows.
They only need so many deals.
Most people want to earn two, 300Ka year, work 30, 40 hours a week,
call her a day.
You're trying to build something
bigger and robust and you haveopportunities.
I get it, totally.
But for the majority of the
industry, pick your avatar andreverse engineer.
So for me, when I said Tom andSally Smith, and I named it Tom
and Sally Smith, where do I findmore Tom and Sally Smiths?
(10:23):
Well, I need to find people whohave access and trust already
built up with Tom and Sally Smith.
I'm not going to sit there and try
to go directly to Tom and SallySmith.
That's a longer play.
Today's social media world, I
didn't do social media.
Biggest mistake in my mortgage
career.
But if I was brokering now, I
would have that plan in place toput that social media out for
those avatars.
But my quickest way to get that
(10:44):
type of avatar business is to findreferral partners who already have
it.
So is that FA?
Is that accountants?Is it realtors in certain
situations, certain cities,certain neighborhoods?
That becomes the equation now.
So it's a different puzzle I have
to solve.
The puzzle I have to solve is
where do I find my avatar?Because once I find it, my life is
easy.
I'm dealing with three lenders.
I'm dealing with the samesituation.
(11:06):
Every client of mine is going onthe same client journey.
If you have A clients, B clients,private clients, because of how
the lenders interact with you andhow they price deals and how they
want to see the file versus Alenders where you send everything
in and then you already know whatthey're going to come back with.
Your clients are going on threedifferent client journeys.
That's crazy town.
Your staff who might be helping
you fulfillment, they're going onthree different journeys with you.
(11:29):
It's so easy if you just dial inone type of avatar.
And then that's the puzzle piecenow.
Instead of you learning all thelender guidelines and
relationships and sifting throughall the different personalities
you're working with, that's thepuzzle.
The puzzle over here is wayeasier.
Just go find Tom and Sally Smith.
So that's what I did.
There you go.
That's number two.
Number three, Ryan, what kind ofrealtor should I work with?
(11:49):
I'm going to blow your mind here.
Blow your mind.
Producing not new agents.
ones, if you're a new agent, Yeah,
if you're a broker, mortgagebroker, two weeks in, do not go
find a new realtor.
It's just a waste of time.
You only want to work with peoplewho have business.
They need to have business.
So for it us, we was, needed buyer
agents, ideally buyer agents whowere doing $150,000 to $500,000
(12:11):
gross revenue.
That told me they were serious
about their business.
They had enough files coming in.
They had a database they wereworking.
They had relationships built inthe community.
I don't want listing agents.
Listing agents, for me, they just
do listings.
They're on the next one.
Their clients aren't typicallybuying.
They are, but it's harder to getin there.
Their main focus is just gettingthe listing, throwing a sign up
(12:33):
onto but the it's next harder toone.
get in there.
Their main focus is just getting
the listing, throwing a sign uponto the next one.
Whereas buyer agents, they'recontinuously working that
relationship and all their clientsneed to be pre-approved before
they work with them.
Whereas listing agents don't have
(12:53):
to be pre-approved.
If you're in a listing
presentation as a realtor, you'renot like, okay, you're pitching
just to get the job to put a signup.
And you're not I need to make sureyou're going, you're selling my
Yeah, pre-approved.
Well, home.
but what are you doing next?You buying a home?
Like I need to, that's no, notpart of their pitch.
So I don't want to buildrelationships with those people
because I want the ones that needthem to be pre-approved.
(13:13):
So I need a buyer agent, $150,000,$500,000.
That was for me.
So where do you find these
realtors?How do you find out if they're
producing?Well, this is training we're going
to be doing pretty soon inaccountability group.
But I'll give you some tidbits toit.
Go do a Google search.
Search up, we did this last week,
search up Regina Realtors,wherever you live.
Realtors are going to come up.
They're going to have all the
reviews there.
I would only work with a realtor
if they have 10 Google reviews ormore.
(13:34):
If they don't, that's step one.
If they don't, it tells me they
don't have their shit together.
They're not serious.
They don't have enough business.
Any realtor that knows what
they're doing and is that avatarrealtor I want to work with,
they've got reviews.
They understand the power of
social proof.
And then number two, because I
(13:54):
would only they understand thepower of social proof.
And then number two, because Iwould only prospect realtors
through social media, I would alsocall and text, but I want to align
our brands together.
And I would be building my brand
on social media.
And let's just say it's Instagram,
I'm going to be building it on.
If I was a broker, that's where I
would go.
I want to make sure that realtor
that has 10 Google reviews alsohas a brand on Instagram and they
are highly active with videos andthey're on there all the time and
(14:15):
they get it.
Because when I reach out to them
and they see that I'm the same,already we have something in line.
Our brands can support each other.
We're in doing things.
We have the same morals about ourbusiness.
I can be like, you understandcontent's important.
I understand.
Like, let's do some things
together.
So those are the two things I do.
Okay.
The Google reviews, I search and
(14:36):
that, and then you get into how doyou prospect?
I'm not answering that questionright here.
Okay.
I know you want me to not going
to.
Okay.
That's number three.
Number four.
How do I know if my brokerage isthe right fit?
Whoa, loaded question, but I getthat all the time.
I think a lot of brokers are, A, Ithink starting to see that the
brokerage they're at isn'tperfect.
But then on the flip side, I knowthere's a lot of brokers that are,
(14:58):
because business is down a bit,you start trying to point fingers
around and you're pointing them,hey, instead of in the mirror,
like this guy or this girl, thereason I'm not doing the shit I
need to do, I'm going to startpointing out like, what am I
getting from my brokerage?And so I'm saying you should do
that.
You should still do that.
But I'm not saying it leave.
The grass is not always greener on
(15:18):
the other side.
So A, you need to have access to
the lenders that you can submityour deals through.
If it's Scotia, TD, and amonoline, whoever, you need to
have direct access.
If you don't have direct access,
there's a problem.
If you're not allowed to talk to
the underwriters, massive problem.
It means something's being hidden
from you.
If you're not allowed to submit
your own deals, I get that ifyou're a newer agent because they
(15:40):
want to protect the relationship.
But at some point, if you're doing
business and you still can'tsubmit your own deals and it's
going through someone else, thenthere's a problem.
Much like if you're not gettingaccess to all the pay that the
lender's paying, there's a problemunless you signed an agreement
(16:00):
saying you didn't need that.
With Scotiabank as an example, you
get finder's fee, you get volumebonus, and there's an efficiency
bonus that comes out of up toanother 10 basis points.
That's paid retroactive on allyour files.
If you're not getting that, youneed to inquire.
If it's something you signed onknowingly at the beginning, sure,
(16:21):
that's your own fault.
But if you didn't know about that,
it's sort of been hidden under therug.
Well, there's a problem there.
Okay.
Also, I like asking questions.
So I'm not going to ask questions
with people at my brokerage.
I'm going to ask questions of
people, mortgage brokers, I admireas business models and them as
people.
I'm going to talk to them about
their brokerage.
I'm going to go, what are you
(16:42):
getting?What's in your split?
What do you get access to?What's your $150 fee or $180 fee
or $350, $500 fee?What do you get for that?
I'm going to go do some work.
And so I'm telling you, this is
one of the things that will beyour highest and best use of your
time is doing some detective workon that level.
Because there are a lot ofbrokers, talk to a lot of brokers.
(17:04):
There are a lot of brokers who arein spots where they shouldn't be.
Early in my career, not early inmy career, mid-career, doing 40,
50 million.
I'm on an 85, 15 split.
I didn't know any different.
I was like, yeah.
I started to talk and they'relike, oh God, Ryan, you should be
like 90, 10 minimum.
And I went and checked and there
was a grid and I was supposed tobe, but they didn't tell me.
(17:27):
And they were waiting for me tocome there.
And meanwhile, I lost an extra 40Kthere in commission.
And I was like, this just feelswrong.
And I can't even articulate whatI'm getting for my And I money.
it was my just, own And I can'tfault.
even articulate what I'm gettingfor my money.
And I just, it was my own faultthough.
I recognized it.
And then I did something about it
(17:47):
and I made a switch.
And so if your spidey senses start
tingling, your woman's intuitionstarts kicking in, whatever,
whatever, whatever.
I'm not saying the grass is
greener, but you owe it toyourself to do the due diligence
as a responsible business owner.
So that's a loaded question from
here.
How do I know my brokerage is a
fit?I can tell you how I know it's not
(18:08):
a fit.
And a lot of it are those things I
said.
But I also know a lot of brokers
who are staying where they're aton an inferior split and not
getting the value they needbecause their relationship they
have with the broker owner.
And they're putting a lot of
weight in that.
And I'm not saying you shouldn't,
but I'm saying that relationshipis costing you and the broker
(18:28):
owner knows it.
They know it.
They know you could go across thestreet and get a better deal and
more value for your money.
But they're leveraging the taking
you out for golf and the fancystuff and the tickets to this and
checking in.
They're going, hey, that's costing
you an extra 20K a year.
So I'll gladly do it.
Okay.
Just from my perspective, I get to
see all angles.
That's pretty cool perspective.
Okay.
That's number That's number four.
And number five, last question forthis video, Ryan, how do I get
more deals from my database?Ryan, how do I get more deals from
(18:50):
my database?There's not a magic pill.
There's not for this.
There's like a marketing business
plan here.
This is a plan you have to put
into place and then execute and beextremely, extremely diligent on.
But I'm going to give you somethings you need to do.
So the first thing I always askpeople is, okay, and this is in no
specific order.
Where's your list?
Ah, it's over here.
Okay.
What software do you use to marketto your database?
(19:11):
Okay.
Is that the best software to
market?We used BombBomb at the time.
We used the VIP club once a monthand BombBomb once a week.
Because BombBomb, I don't want aninferior CRM I have because it's
attached to my summation platformor it's over here that I want to
send out really good lookingemails with videos in there where
I can build drip campaigns ofvideos.
And I can do it at the click of abutton.
(19:32):
It's super easy.
And I have an app on my phone and
they have a widget in my Gmail andI open it.
I start recording.
Just go boom, boom, boom, boom,
boom, boom, boom.
Out.
Done.
I don't want to have to be hosting
stuff and this and that.
Crazy town.
I'm going to use the marketing foryour database, which should be
once a week, by the way.
(19:55):
Just saying.
The marketing for your database iswhere you're going to make the
most money.
That's where you'll make the most
money in this business.
It's going to be one or two for
you.
So you should have the best
software to deliver email with thebest looking email with the
(20:15):
easiest to use.
Why am I going to jam, lose
efforts and do something else thatwasn't built to do that?
It's crazy, Tim.
So A, you need to market to your
database and it has to be morethan once a month the more you
market the more the smtp server isgoing to recognize that you're a
trusted source is going to put youmore in their inbox instead of
their spam and then the client'sgoing to see you more in their
(20:39):
inbox and guess what the moreyou're in their inbox providing
value timing is everything in lifeand so if you're relying on your
one email going out a month, ifyou're not doing one email a
month, oh God, I don't even knowwhat you're doing.
Maybe you're beyond help.
I don't know.
Probably not.
You can always help everybody, but
come on.
Come on, really?
You can't complain.
(21:00):
I hope you're not complaining
about business and your market'sdown, interest rates are high, and
you can't find deals.
Like really?
I just shake you.
We're not going to do that.
So you need to market at leastonce a week.
If you're doing once a month,putting a lot of pressure.
So let's say you have this perfectemail you want to send out.
It's like, Oh, this email and youfired off your database.
Whoa.
Did it make it through the inbox?
(21:20):
Okay, cool.
Step one.
Did they open the email?Did they see the email or did it
get pushed down their inbox andthey're on vacation or they're on
your own second page or your waydown here or whatever?
I never go to a zero inbox.
I think that's bonkers when people
do that, by the way, but that's sostressful every day.
I just have like, it's alwaysgoing, right?
(21:41):
So what if they missed?Okay.
So let's say they saw it.
Okay.
Did they open it?Was your subject line catchy
enough?Was it October newsletter?
Who's opening that?Really?
Come on.
We've got to be better than that.
So did they even open it?Okay.
Let's say they opened it.
Was what you had in there
compelling enough?See how all the things you have to
get right here?Let's say you got those up to that
point.
What you said in there, was it
compelling enough?Did it spark an interest?
(22:03):
Were you even asking them forsomething?
Or were you just giving themboring market stats about a bunch
of shit?And just like, paragraph, stuff on
stuff on stuff.
And you're just, hey, database
marketing doesn't work.
Well, yeah, because what you send
sucks.
Let's be honest.
Let's just be real.
That's why it doesn't work.
Should be value, value, value,ask.
Value, value, ask.
If it's not working for you,
(22:25):
because you're not good at it, theskill set you need to learn.
So let's say they open it andlet's say what you said was
awesome.
Did you have a call to action?
What was your call to action?Was it reach out to me if you have
questions?That's not a call to action,
right?Did you have the big calendar
button in there, right?Direct access to your calendar, 15
minute, no strings attached call.
(22:46):
Is that like, you see the, and
then what if everything you saidwas awesome and it made sense, but
what if they just didn't need amortgage at that time, or it
wasn't relevant to what you weresaying to their situation.
But let's say it was three weekslater or three weeks earlier.
Well, because you're only emailingonce a month and you need to get
eight things right for it to lineup to show you it was working, you
(23:08):
missed the mark and you missed thetiming.
Timing's everything in life.
So that's why you email once a
week, right?Now you take away the excuse of, I
didn't get the right timing.
They didn't need, no, because I'm
always there.
I'm always in the inbox.
I have to be.
So that's one.
You're just not doing enough.
Then you have data mining.
How do you get business from yourdatabase?
(23:30):
That's the question.
Are you mining your database?
Are you looking for opportunitieswith past clients, people you
pre-approved, people that clientsyou did deals with, clients you
did deal with a while ago?Are you looking at their other
properties?Are you looking for variable rate
spread arbitrage?Are you looking at where poster
rates are in the market?And it means IRD penalties are
(23:52):
actually three-month interestpenalties for fixed rates.
Are you looking for people withsix interest rate because now you
have five available, doing themath, reaching out, hey, I've got
an opportunity.
Like, are you doing that?
That's how you do it.
So more email marketing in a
really good platform to email.
And that's specific to getting
business through email, notsomething that's jammed into some
other funky CRM you're using,trying to make it be a Swiss army
(24:16):
knife for all the things becauseyou're just too cheap.
Don't do that.
You're going to make more money
from this than you will from aCRM, hands down, a marketing CRM.
And then more of it.
And then are you mining your
database with sniper rifleopportunities?
And then last but not least, listmanagement.
Are you managing your database?What I mean by that is, are you
constantly adding the emailaddresses in?
Like weekly, the bare minimummonthly?
Are you going around everywhere inyour world looking for these email
(24:39):
addresses and exporting them outthrough CSV file and uploading
them in and keep on topping upyour master list or even having
zap set up to come from yourcalendar over your submission
agent over.
If you're just having from
calendar over to master list,you're missing out because the
people are doing an applicationand there's a co-applicant.
You're not going to get that onthe calendar.
So you need to have it coming fromyour submission agent.
(25:00):
And if you don't have that zap setup, that's okay.
That's cool.
Then you need to just go in and
have a calendar reminder to go doa CSV export, CSV export out of
there and then upload it to yourmaster list.
So you should have ongoing listmanagement.
So between ongoing listmanagement, more marketing, using
a really good platform anddatabase mining for sniper rifle
opportunities, that's how you getbusiness out of your database.
(25:22):
I know that because I was the kingof doing all that.
So that's the answer to thatquestion.
So that's it, kids.
That's all I got for you this
week.
There's more to come.
Keep tuning in.
If you like what you're hearing
here, you are on YouTube,subscribe more to the channel,
please.
We love that.
It gives me fuel to fire, keeps megoing.
Otherwise, we'll see you next weekon the Mortgage Game Podcast.
That's it, kids.
(25:43):
Peace out.
Welcome to the mortgage game.
(00:03):
I truly, truly believe that
building a mortgage business, asuccessful one, is like playing a
game.
There's winners, there's losers,
there's certain things you try.
Some of us are playing checkers
while others are playing chess.
I've had the ability to coach and
mentor hundreds of mortgagebrokers.
I myself built a very nicebusiness.
(00:26):
So now I want to distill all thatinformation, all the things I've
learned from that and bring itdirectly to you in a simple to
understand way.
I hope you enjoy.
Okay, welcome to this week'sepisode of the Mortgage Game
Podcast.
West Coast Wiley in the house
coming to you live on video now,not just sitting in my truck
anymore.
We had a good run.
(00:47):
We definitely did.
If you've listened to the podcast,
you get it.
So let's get into it.
So this week, I'm going to coverfive questions I get asked all the
frickin' time.
And I'm not saying that's a bad
thing.
Keep the questions coming because
it allows me to make videos andpodcasts and stuff like this.
There's probably about 20questions and I'll get those in
(01:08):
other segments.
But for this, I've carved out five
questions.
I get asked all like weekly.
I get asked and I don't mindanswering them, but I figure, hey,
let's just put them on here onYouTube, on the podcast, and let's
go from there.
So let's get into it.
Number one, Ryan, what databaseshould I use?
What type of, sorry, CRM should Iuse?
Ah, that old question.
(01:30):
Then the old answer is that the
answer you hear everyone says, theone you're going to use.
Well, sure.
Okay.
Yes, I agree.
That's a cliche answer, but I
totally get it.
Cliches work in a lot of
scenarios.
I'm going to go a little deeper on
that though.
Okay.
So if I'm brokering and I'm comingback, and so here's my philosophy
(01:51):
on this.
Like most of the stuff you've been
following me long enough, youknow, like I don't sit on the
fence on shit.
I just don't.
I go one way or the other and I'llback it up with my reasoning and
I'll show you stats and I won'tjust throw stuff out there and go,
yeah, that's what I think.
Sometimes once in a while, but
most times I will back it up withinformation and reasoning as to
(02:14):
why I have that opinion.
So what CRM would I use?
Well, I personally think, before Itell you what I would use, I
personally think a lot of mortgagebrokers are overcomplicating their
business and they feel betterabout themselves because they have
their CRM set up.
And they feel like because they
have one and they've got someautomation built in and you don't
(02:35):
need all that.
I'm just telling you, you do not
need that.
I ran a mortgage business for 12,
13 years and we did not have aCRM.
We had an Excel spreadsheet.
It's an Excel spreadsheet.
And I know a lot of top producers,but that's all they use.
It's not connected to anything.
It's not connected to a submission
platform.
It's not connected where emails go
out.
(02:55):
I always come back to how many
deals are you doing?Seriously, we were doing between
100, 180 files depending on wherewe were at a year.
I ran a spreadsheet and we emailmarketed out we email marketed out
of BombBomb.
That was my favorite software to
use with video marketing.
We could build drip campaigns.
(03:15):
You don't need these fancy CRMs.
And I know there's ones that say
they're simple.
And I know there's ones that say,
hey, we do this and we doautomation.
Sure, but you don't need it.
And a lot of times you're just
putting yourself on this massivelearning curve.
You're setting up all these stepsin your process that you really
don't need.
(03:35):
And so for me, my answer is, what
CR your language you use?I'm not going to go, whatever one
you use.
I'm just going to say an Excel
spreadsheet.
I don't want to pay for something
else.
And I'm not saying I'm cheap here
because I'm not.
I'll spend money to make money all
day long.
But the spreadsheet does the job
and you can make it as robust asyou like.
spreadsheet does the job and youcan make it as robust as you like.
(03:57):
And you can't convince me thatsomeone running 20 files a year,
40 files a year, 80, 100, 150,180, because I live that world,
that you need a CRM to do all thatand that it actually makes your
life easier.
Quite contrary.
that and that it actually makesyour life easier.
Quite contrary.
Don't believe it.
Till proven If someone wants tohave a debate on by the reach out
(04:18):
to me.
otherwise.
that, way, You know where to findI'll me.
gladly do that.
I just think there's a lot of
services out there that arepromoting things and they're like,
we're hey, going to solve yourbusiness.
No CRM is going to solve yourbusiness.
No CRM is going to make yourbusiness go from here to here.
It's just not how it works.
It's like a catalog.
That's all it is.
It just holds data.
(04:38):
And so you can get the ones wherethey overcomplicate and it's part
of a submission platform becausethey want you to get on the
submission platform.
So they build these inferior
products to kind of layer aroundthe submission platform so they
use the submission platform.
You can't go anywhere else and
they force you to use it becausethey get beeps on the back end and
they get kickbacks from thelenders.
I'm just going to use whateversubmission platform I choose, and
(05:00):
I'm going to use an Excelspreadsheet.
That's question number one.
Okay, question number two.
Ryan, how do I know who my avataris?
First off, what is an avatar?An avatar is your ideal client.
before Okay, I tell how do youyou, know who my avatar is?
First what is off, an avatar?An avatar is your ideal client.
Okay, before I tell you, how doyou know who your avatar is?
(05:20):
You need to know what an avataris.
If I said to you, who's thatperfect client you want to work
with?Think back to all the clients
you've worked with.
Who is it?
Give them a name, right?Tom and Sally Smith.
That was mine.
Tom and Sally Smith.
So how do you know your avatar?I'm going to explain who mine was,
and then I'm going to give yousome tips because it's different
for everybody.
If you are brand new, sorry, I'll
explain who mine was.
Tom and Sally Smith, provable
income, household income of 250plus, white collar professionals,
appreciated another professional,myself, taking care of their
(05:41):
mortgage and other financingsituations around their mortgage.
White glove concierge style wouldpay a premium to work with me
because I'm never going to be thelowest rate.
We're never going to be the lowestrate, by the way.
Insured deals, blah, blah.
Okay.
Yeah.
For the most part, uninsured
files, we will not be the lowestrate.
So you need to come up withsomething else.
(06:03):
So that was my ideal person, not aprice shopper, not a rate shopper.
I want someone that appreciate,valued their time, right?
And white collar professionals,they value their time.
They've got young kids,potentially they're being, they're
trying to climb the corporateladder.
They're like, they just don't havetime to like go and source all
this shit out.
And then to realize maybe they
didn't know what they were doing.
And they understand someone else
who's educated in the skill setand spend time upping their game
(06:24):
to have that person in your cornerat guess what zero cost maybe a
premium on the interest rate butwe're going to make that back in
other ways that was my avatar sowho how do you know who your
avatar is well if you're newer tothe industry you should not make
that decision right now you needto go why you need to go get
exposure to a bunch of differentdeals.
(06:46):
Commercial, residential, B,private, all day, self-employed, A
stuff, like everything.
You need to go get investors.
Go get it all.
And then you'll quickly decide
probably, I don't know how manyfiles it'll be.
It might take you two years.
It might take you 30 files.
I don't know.
You'll start to realize which
files feel warm and fuzzy to youthat you want to work with.
And so this is what I will tellyou.
If you are still in the businessand you have been however long,
(07:08):
you've been in the business for adecent amount of time, five years,
10 years, 15 years, and you don'thave an avatar dialed in, you're
doing something wrong.
And I get it.
I get it.
I understand.
A lot of you, you're trying totake on anything that comes to you
right now, especially when timesare a little tougher.
Applications are a little harderto piece together, a little harder
(07:30):
to get people on the phone toactually see if they'll give you
an application.
So you're just taking everything.
You're scrambling.
So my mentality on that is if
you're trying to be everything toeveryone, you're being nothing.
You can't be everything toeveryone.
You just, it's impossible.
It's impossible for you.
You might as well be thatrestaurant.
You know, those restaurants wherethey have 72 dishes on the nine
pages of the menu and you are, youopen it and you're like, Oh God, I
(07:51):
already know none of this is goingto be good.
Like you already know versus theplace you go and they have like,
we have 12 things.
They're going to knock out of the
park, all 12 things.
So you need to figure out who that
person is and you reverse engineerwhere you go find those people.
And I get it.
If you do all day private and you
do all these things, like thinkabout the logic here for you to
know all the guidelines for allthose different lenders to knock
(08:13):
that out of the park, all therelationships you have to manage
with all those different lendersand BDMs and underwriters.
It's a moving target in some ofthose areas with B lenders and
privates, and everything's alwayschanging.
The A stuff stays a little more ofthe same.
For you to stay on top of allthat, that's exhausting.
And for you to be phenomenal atit, even if you get a deal done,
let's say A client is who youprefer working but you get with,
some B And let's deals.
(08:35):
say a client is who you prefer
working with, but you get some Bdeals.
And let's say you get it done at aB lender, just because someone
gave you an approval doesn't meanthat was the right spot for that
client.
So this happened to me in my
mortgage career.
I'd get the deal done.
EQ Bank, I believe it was.
And I'd compare notes with an
actual B person who was aspecialist.
And they're like, oh no, Ryan, youshould have went And here, that's
(08:59):
here, why you here.
cost your client six Client didn
who grand.
was a And they're specialist.
oh you like, should have no, Ryan,went here.
here, here, And that's why youcost your client six grand.
Client didn't have a clue.
I was like, oh man, damn.
So instead I referred out thatbusiness.
So I could go focus on my avatar,referred out, I took 25%.
And that's what I'm tellingeveryone I coach to go do is do
that.
And then it allows me to identify
my avatar.
I only want to work with the same
people over and over.
(09:20):
If you're dealing with all three
of those categories, I knowthere's more categories than that,
but I'm putting them in thosethree categories of A, B, and
private.
You're dealing with three
different types of personalities.
You're dealing with three
different types of income,documentation, provability,
situations, credit scores, all ofthat.
It's just a bunch of shit comingin and you're looking through it
all trying to figure your way.
Is this the lender?
Is that what I want?And it's exhausting and you're
never going to knock it on thepark.
You're never going to be amazingat it.
If you have an underwriter whoknows the answers to all of that
(09:42):
stuff, there's an argument to bemade that you just bring it in,
let them sift through it.
You handle a discovery call, let
them sift through it, and thenthey place the deal.
Sure.
To find those types of people,
those Swiss army knifeunderwriters, you're going to have
to pay them a lot of money.
And B, what type of business are
you running?Most mortgage brokers are one man
(10:03):
or one woman band shows.
They only need so many deals.
Most people want to earn two, 300Ka year, work 30, 40 hours a week,
call her a day.
You're trying to build something
bigger and robust and you haveopportunities.
I get it, totally.
But for the majority of the
industry, pick your avatar andreverse engineer.
So for me, when I said Tom andSally Smith, and I named it Tom
and Sally Smith, where do I findmore Tom and Sally Smiths?
(10:23):
Well, I need to find people whohave access and trust already
built up with Tom and Sally Smith.
I'm not going to sit there and try
to go directly to Tom and SallySmith.
That's a longer play.
Today's social media world, I
didn't do social media.
Biggest mistake in my mortgage
career.
But if I was brokering now, I
would have that plan in place toput that social media out for
those avatars.
But my quickest way to get that
(10:44):
type of avatar business is to findreferral partners who already have
it.
So is that FA?
Is that accountants?Is it realtors in certain
situations, certain cities,certain neighborhoods?
That becomes the equation now.
So it's a different puzzle I have
to solve.
The puzzle I have to solve is
where do I find my avatar?Because once I find it, my life is
easy.
I'm dealing with three lenders.
I'm dealing with the samesituation.
(11:06):
Every client of mine is going onthe same client journey.
If you have A clients, B clients,private clients, because of how
the lenders interact with you andhow they price deals and how they
want to see the file versus Alenders where you send everything
in and then you already know whatthey're going to come back with.
Your clients are going on threedifferent client journeys.
That's crazy town.
Your staff who might be helping
you fulfillment, they're going onthree different journeys with you.
(11:29):
It's so easy if you just dial inone type of avatar.
And then that's the puzzle piecenow.
Instead of you learning all thelender guidelines and
relationships and sifting throughall the different personalities
you're working with, that's thepuzzle.
The puzzle over here is wayeasier.
Just go find Tom and Sally Smith.
So that's what I did.
There you go.
That's number two.
Number three, Ryan, what kind ofrealtor should I work with?
(11:49):
I'm going to blow your mind here.
Blow your mind.
Producing not new agents.
ones, if you're a new agent, Yeah,
if you're a broker, mortgagebroker, two weeks in, do not go
find a new realtor.
It's just a waste of time.
You only want to work with peoplewho have business.
They need to have business.
So for it us, we was, needed buyer
agents, ideally buyer agents whowere doing $150,000 to $500,000
(12:11):
gross revenue.
That told me they were serious
about their business.
They had enough files coming in.
They had a database they wereworking.
They had relationships built inthe community.
I don't want listing agents.
Listing agents, for me, they just
do listings.
They're on the next one.
Their clients aren't typicallybuying.
They are, but it's harder to getin there.
Their main focus is just gettingthe listing, throwing a sign up
(12:33):
onto but the it's next harder toone.
get in there.
Their main focus is just getting
the listing, throwing a sign uponto the next one.
Whereas buyer agents, they'recontinuously working that
relationship and all their clientsneed to be pre-approved before
they work with them.
Whereas listing agents don't have
(12:53):
to be pre-approved.
If you're in a listing
presentation as a realtor, you'renot like, okay, you're pitching
just to get the job to put a signup.
And you're not I need to make sureyou're going, you're selling my
Yeah, pre-approved.
Well, home.
but what are you doing next?You buying a home?
Like I need to, that's no, notpart of their pitch.
So I don't want to buildrelationships with those people
because I want the ones that needthem to be pre-approved.
(13:13):
So I need a buyer agent, $150,000,$500,000.
That was for me.
So where do you find these
realtors?How do you find out if they're
producing?Well, this is training we're going
to be doing pretty soon inaccountability group.
But I'll give you some tidbits toit.
Go do a Google search.
Search up, we did this last week,
search up Regina Realtors,wherever you live.
Realtors are going to come up.
They're going to have all the
reviews there.
I would only work with a realtor
if they have 10 Google reviews ormore.
(13:34):
If they don't, that's step one.
If they don't, it tells me they
don't have their shit together.
They're not serious.
They don't have enough business.
Any realtor that knows what
they're doing and is that avatarrealtor I want to work with,
they've got reviews.
They understand the power of
social proof.
And then number two, because I
(13:54):
would only they understand thepower of social proof.
And then number two, because Iwould only prospect realtors
through social media, I would alsocall and text, but I want to align
our brands together.
And I would be building my brand
on social media.
And let's just say it's Instagram,
I'm going to be building it on.
If I was a broker, that's where I
would go.
I want to make sure that realtor
that has 10 Google reviews alsohas a brand on Instagram and they
are highly active with videos andthey're on there all the time and
(14:15):
they get it.
Because when I reach out to them
and they see that I'm the same,already we have something in line.
Our brands can support each other.
We're in doing things.
We have the same morals about ourbusiness.
I can be like, you understandcontent's important.
I understand.
Like, let's do some things
together.
So those are the two things I do.
Okay.
The Google reviews, I search and
(14:36):
that, and then you get into how doyou prospect?
I'm not answering that questionright here.
Okay.
I know you want me to not going
to.
Okay.
That's number three.
Number four.
How do I know if my brokerage isthe right fit?
Whoa, loaded question, but I getthat all the time.
I think a lot of brokers are, A, Ithink starting to see that the
brokerage they're at isn'tperfect.
But then on the flip side, I knowthere's a lot of brokers that are,
(14:58):
because business is down a bit,you start trying to point fingers
around and you're pointing them,hey, instead of in the mirror,
like this guy or this girl, thereason I'm not doing the shit I
need to do, I'm going to startpointing out like, what am I
getting from my brokerage?And so I'm saying you should do
that.
You should still do that.
But I'm not saying it leave.
The grass is not always greener on
(15:18):
the other side.
So A, you need to have access to
the lenders that you can submityour deals through.
If it's Scotia, TD, and amonoline, whoever, you need to
have direct access.
If you don't have direct access,
there's a problem.
If you're not allowed to talk to
the underwriters, massive problem.
It means something's being hidden
from you.
If you're not allowed to submit
your own deals, I get that ifyou're a newer agent because they
(15:40):
want to protect the relationship.
But at some point, if you're doing
business and you still can'tsubmit your own deals and it's
going through someone else, thenthere's a problem.
Much like if you're not gettingaccess to all the pay that the
lender's paying, there's a problemunless you signed an agreement
(16:00):
saying you didn't need that.
With Scotiabank as an example, you
get finder's fee, you get volumebonus, and there's an efficiency
bonus that comes out of up toanother 10 basis points.
That's paid retroactive on allyour files.
If you're not getting that, youneed to inquire.
If it's something you signed onknowingly at the beginning, sure,
(16:21):
that's your own fault.
But if you didn't know about that,
it's sort of been hidden under therug.
Well, there's a problem there.
Okay.
Also, I like asking questions.
So I'm not going to ask questions
with people at my brokerage.
I'm going to ask questions of
people, mortgage brokers, I admireas business models and them as
people.
I'm going to talk to them about
their brokerage.
I'm going to go, what are you
(16:42):
getting?What's in your split?
What do you get access to?What's your $150 fee or $180 fee
or $350, $500 fee?What do you get for that?
I'm going to go do some work.
And so I'm telling you, this is
one of the things that will beyour highest and best use of your
time is doing some detective workon that level.
Because there are a lot ofbrokers, talk to a lot of brokers.
(17:04):
There are a lot of brokers who arein spots where they shouldn't be.
Early in my career, not early inmy career, mid-career, doing 40,
50 million.
I'm on an 85, 15 split.
I didn't know any different.
I was like, yeah.
I started to talk and they'relike, oh God, Ryan, you should be
like 90, 10 minimum.
And I went and checked and there
was a grid and I was supposed tobe, but they didn't tell me.
(17:27):
And they were waiting for me tocome there.
And meanwhile, I lost an extra 40Kthere in commission.
And I was like, this just feelswrong.
And I can't even articulate whatI'm getting for my And I money.
it was my just, own And I can'tfault.
even articulate what I'm gettingfor my money.
And I just, it was my own faultthough.
I recognized it.
And then I did something about it
(17:47):
and I made a switch.
And so if your spidey senses start
tingling, your woman's intuitionstarts kicking in, whatever,
whatever, whatever.
I'm not saying the grass is
greener, but you owe it toyourself to do the due diligence
as a responsible business owner.
So that's a loaded question from
here.
How do I know my brokerage is a
fit?I can tell you how I know it's not
(18:08):
a fit.
And a lot of it are those things I
said.
But I also know a lot of brokers
who are staying where they're aton an inferior split and not
getting the value they needbecause their relationship they
have with the broker owner.
And they're putting a lot of
weight in that.
And I'm not saying you shouldn't,
but I'm saying that relationshipis costing you and the broker
(18:28):
owner knows it.
They know it.
They know you could go across thestreet and get a better deal and
more value for your money.
But they're leveraging the taking
you out for golf and the fancystuff and the tickets to this and
checking in.
They're going, hey, that's costing
you an extra 20K a year.
So I'll gladly do it.
Okay.
Just from my perspective, I get to
see all angles.
That's pretty cool perspective.
Okay.
That's number That's number four.
And number five, last question forthis video, Ryan, how do I get
more deals from my database?Ryan, how do I get more deals from
(18:50):
my database?There's not a magic pill.
There's not for this.
There's like a marketing business
plan here.
This is a plan you have to put
into place and then execute and beextremely, extremely diligent on.
But I'm going to give you somethings you need to do.
So the first thing I always askpeople is, okay, and this is in no
specific order.
Where's your list?
Ah, it's over here.
Okay.
What software do you use to marketto your database?
(19:11):
Okay.
Is that the best software to
market?We used BombBomb at the time.
We used the VIP club once a monthand BombBomb once a week.
Because BombBomb, I don't want aninferior CRM I have because it's
attached to my summation platformor it's over here that I want to
send out really good lookingemails with videos in there where
I can build drip campaigns ofvideos.
And I can do it at the click of abutton.
(19:32):
It's super easy.
And I have an app on my phone and
they have a widget in my Gmail andI open it.
I start recording.
Just go boom, boom, boom, boom,
boom, boom, boom.
Out.
Done.
I don't want to have to be hosting
stuff and this and that.
Crazy town.
I'm going to use the marketing foryour database, which should be
once a week, by the way.
(19:55):
Just saying.
The marketing for your database iswhere you're going to make the
most money.
That's where you'll make the most
money in this business.
It's going to be one or two for
you.
So you should have the best
software to deliver email with thebest looking email with the
(20:15):
easiest to use.
Why am I going to jam, lose
efforts and do something else thatwasn't built to do that?
It's crazy, Tim.
So A, you need to market to your
database and it has to be morethan once a month the more you
market the more the smtp server isgoing to recognize that you're a
trusted source is going to put youmore in their inbox instead of
their spam and then the client'sgoing to see you more in their
(20:39):
inbox and guess what the moreyou're in their inbox providing
value timing is everything in lifeand so if you're relying on your
one email going out a month, ifyou're not doing one email a
month, oh God, I don't even knowwhat you're doing.
Maybe you're beyond help.
I don't know.
Probably not.
You can always help everybody, but
come on.
Come on, really?
You can't complain.
(21:00):
I hope you're not complaining
about business and your market'sdown, interest rates are high, and
you can't find deals.
Like really?
I just shake you.
We're not going to do that.
So you need to market at leastonce a week.
If you're doing once a month,putting a lot of pressure.
So let's say you have this perfectemail you want to send out.
It's like, Oh, this email and youfired off your database.
Whoa.
Did it make it through the inbox?
(21:20):
Okay, cool.
Step one.
Did they open the email?Did they see the email or did it
get pushed down their inbox andthey're on vacation or they're on
your own second page or your waydown here or whatever?
I never go to a zero inbox.
I think that's bonkers when people
do that, by the way, but that's sostressful every day.
I just have like, it's alwaysgoing, right?
(21:41):
So what if they missed?Okay.
So let's say they saw it.
Okay.
Did they open it?Was your subject line catchy
enough?Was it October newsletter?
Who's opening that?Really?
Come on.
We've got to be better than that.
So did they even open it?Okay.
Let's say they opened it.
Was what you had in there
compelling enough?See how all the things you have to
get right here?Let's say you got those up to that
point.
What you said in there, was it
compelling enough?Did it spark an interest?
(22:03):
Were you even asking them forsomething?
Or were you just giving themboring market stats about a bunch
of shit?And just like, paragraph, stuff on
stuff on stuff.
And you're just, hey, database
marketing doesn't work.
Well, yeah, because what you send
sucks.
Let's be honest.
Let's just be real.
That's why it doesn't work.
Should be value, value, value,ask.
Value, value, ask.
If it's not working for you,
(22:25):
because you're not good at it, theskill set you need to learn.
So let's say they open it andlet's say what you said was
awesome.
Did you have a call to action?
What was your call to action?Was it reach out to me if you have
questions?That's not a call to action,
right?Did you have the big calendar
button in there, right?Direct access to your calendar, 15
minute, no strings attached call.
(22:46):
Is that like, you see the, and
then what if everything you saidwas awesome and it made sense, but
what if they just didn't need amortgage at that time, or it
wasn't relevant to what you weresaying to their situation.
But let's say it was three weekslater or three weeks earlier.
Well, because you're only emailingonce a month and you need to get
eight things right for it to lineup to show you it was working, you
(23:08):
missed the mark and you missed thetiming.
Timing's everything in life.
So that's why you email once a
week, right?Now you take away the excuse of, I
didn't get the right timing.
They didn't need, no, because I'm
always there.
I'm always in the inbox.
I have to be.
So that's one.
You're just not doing enough.
Then you have data mining.
How do you get business from yourdatabase?
(23:30):
That's the question.
Are you mining your database?
Are you looking for opportunitieswith past clients, people you
pre-approved, people that clientsyou did deals with, clients you
did deal with a while ago?Are you looking at their other
properties?Are you looking for variable rate
spread arbitrage?Are you looking at where poster
rates are in the market?And it means IRD penalties are
(23:52):
actually three-month interestpenalties for fixed rates.
Are you looking for people withsix interest rate because now you
have five available, doing themath, reaching out, hey, I've got
an opportunity.
Like, are you doing that?
That's how you do it.
So more email marketing in a
really good platform to email.
And that's specific to getting
business through email, notsomething that's jammed into some
other funky CRM you're using,trying to make it be a Swiss army
(24:16):
knife for all the things becauseyou're just too cheap.
Don't do that.
You're going to make more money
from this than you will from aCRM, hands down, a marketing CRM.
And then more of it.
And then are you mining your
database with sniper rifleopportunities?
And then last but not least, listmanagement.
Are you managing your database?What I mean by that is, are you
constantly adding the emailaddresses in?
Like weekly, the bare minimummonthly?
Are you going around everywhere inyour world looking for these email
(24:39):
addresses and exporting them outthrough CSV file and uploading
them in and keep on topping upyour master list or even having
zap set up to come from yourcalendar over your submission
agent over.
If you're just having from
calendar over to master list,you're missing out because the
people are doing an applicationand there's a co-applicant.
You're not going to get that onthe calendar.
So you need to have it coming fromyour submission agent.
(25:00):
And if you don't have that zap setup, that's okay.
That's cool.
Then you need to just go in and
have a calendar reminder to go doa CSV export, CSV export out of
there and then upload it to yourmaster list.
So you should have ongoing listmanagement.
So between ongoing listmanagement, more marketing, using
a really good platform anddatabase mining for sniper rifle
opportunities, that's how you getbusiness out of your database.
(25:22):
I know that because I was the kingof doing all that.
So that's the answer to thatquestion.
So that's it, kids.
That's all I got for you this
week.
There's more to come.
Keep tuning in.
If you like what you're hearing
here, you are on YouTube,subscribe more to the channel,
please.
We love that.
It gives me fuel to fire, keeps megoing.
Otherwise, we'll see you next weekon the Mortgage Game Podcast.
That's it, kids.
(25:43):
Peace out.
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