July 10, 2025 • 29 mins
In this episode, I discuss the importance of the necessity of transparency in brokerages, understanding your splits & financial numbers, and why you need to take control of your business.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
(00:06):
Welcome to the mortgage game.
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, so now I want to distill
(00:27):
all that information, all thethings I've learned from that, and
bring it directly to you in asimple -to -understand way.
I hope you enjoy.
All right, welcome to the Mortgage
Game Podcast.
West Coast Wiley in the house.
This is an evening version, 7 .43p .m.
at the beach.
The beach is jammed, so I had to
(00:49):
go to a smaller beach with notsuch a great view, but still I can
see water and boats and mountains,so I'm happy.
And this is one of those things,like this is this podcast, much
like the emails are right there.
It's kind of like whenever the
writer wants to write, it's not,hey, I have to get this out every
week because I do.
I just and now I feel like doing
this and there's stuff I want totalk about.
(01:10):
So here we are.
So let's get into it.
Here's some random things for you.
I talked to probably two to three
mortgage brokers who are not on myteam every day.
And there's some common themescoming around.
I want to just bring these toforefront because part of me is
I'm going to talk about how theold way of brokering is dead.
and the new way of brokering, howold brokers are getting crushed
and why they're getting crushedand how you should not make the
(01:31):
same mistake.
So we'll talk about that.
But let's talk about theconversations I'm having with
people.
And so I don't know if I'm more
surprised by the fact thatbrokerages and team leads are
still getting away with this orthat mortgage brokers are still
allowing it to happen to them.
And I'm just going to give you a
(01:51):
couple examples.
This is like real stuff from like
smart people.
And so we've got, for example, one
brokerage or one team just figuredout that, hey, we're actually not
getting part of all the efficiencybonuses and the promo bonuses.
And like we're missing out onliterally $20 ,000, $30 ,000, $15
(02:12):
,000 to $20 ,000 each.
And we didn't know about it.
And they were.
really trying to hide it from us,
but they made a mistake and wecaught them.
And I hear this all the time, likeall the time.
And so I'm never shocked by it.
I'm never like, Oh my God, really?
No way.
I'm like, okay.
Yeah.
Yeah.
Sounds about right.
(02:33):
That's an old school way.
It's an old thing.
Hide it.
And I know there's a lot of peopletalking about transparency.
I'm telling you, there's a lot ofshysters still out there.
And but the fact that the mortgagebrokers are still allowing people
to get away with it because theydon't know the numbers.
I can't tell you how many times Italk to brokers.
I'm like, so what is your split?Oh, 90 -10.
(02:54):
Cool.
Is it 90 -10 before?
Like, is that all in or is therelike three or 5 % taken off with
the network plus tax?And then you get now.
Oh, yeah, yeah.
That's what it is.
And I also just learned that likeeight months ago and I've been
there five years.
Oh, OK.
Well, that's a little scary.
It's a little scary to me.
You're a mortgage broker advisingpeople on financial decisions and
(03:15):
numbers, and you don't know yourown numbers.
And it's also scary that it'sbeing hidden from you and it's not
outlined.
And then the answer to you is,
well, it's not outlined on the paystub.
I get $5 ,000 and then I get my 90-10 of that, but the five has
already been taken, but that'snever seen on the pay stub.
That's already been taken off andit just shows 90 -10.
When in all reality, you'renetting out in that instance, like
(03:37):
if you're in Ontario.
When I was at a network like that,
it was 5 % plus tax.
I was paying 5, 6, 5 to the house
and the house goes off first.
The house eats before anyone else.
And then it was my split.
And so if you're 90 -10 and you
have that in addition, you'reactually less than 85 -15 when you
actually do the math.
And so these are things you need
to know, but it's also things youneed to ask.
(03:59):
And it should be like where you'renot scared to ask or you feel
threatened to ask.
There should also be, it's cool if
brokerages want to take efficiencybonuses and promo bonuses and they
want to do all that, but it shouldbe clearly articulated and lay out
and pointed out to you.
And it's not.
And I know some places they justtake it.
And some places don't allow you totalk to the underwriter or talk to
(04:24):
the BDM or they coach the BDM tonot, when they're talking to the
agents, not to mention volumebonus because they keep it without
letting them know.
This shit's happening in front of
us.
And this is an old school way of
brokering.
And anyone who wants to debate me
on this, I'm up for it.
Because I know how it works.
I know how the sausage is made.
I was involved in it.
(04:45):
And so you will have people tellyou, like people told me, go start
a team, Ryan.
And then, hey, guess what?
You get to keep the volume bonusbecause you work really hard for
it.
And they can work off finders
fees.
And that's just the way it goes.
And I was like choked on mybiscuit.
Maybe I was having tea and biscuitthat day, but it's like, what?
(05:06):
What?No, there's no way I could do
that.
What the hell?
Yeah, but it's being coached downfrom the top.
And so this is happening.
So this is me saying to you,
going, do you know your numbers?Like, is it clearly articulated on
the pay stub?Have you actually went in and
reconciled a file and looked at,did I get all my finder's fee?
Did I get my volume bonus?Did I get my quarterly efficiency
(05:28):
bonus?Did I get my actual split or is
there a network fee?And it's like, ta -da, there'll be
found money there.
And also, I'm guessing if you go
figure that out and it's been sortof pushed under the rug and hasn't
been talked about, I'm guessingyou're going to have a different
vibe than you would previously, adifferent thought about the people
running the show.
(05:49):
And I will tell you right now,
there are way more good peoplerunning brokerages and teams than
there are bad.
But there's still a lot of bad
apples around us.
And this is happening way more
than I actually thought still.
I thought people would clean
things up.
But here's what's going on.
This podcast has been brought toyou by Zero Gatorade.
(06:11):
Great version.
My fave.
This is...
The old school way of brokering.
There's a lot of old school waywhere people run their books the
old way and getting crushed andpeople running brokerages.
And so this is the common themeI'm hearing now.
And I totally agree.
And this isn't me coming up to
conclusions.
I've already come up with these
conclusions.
It's just nice to actually hear
(06:31):
people say it to me without measking questions.
And I'm like, oh.
You're actually seeing what I've
been seeing for a long time isthat there's a lot of brokerages
and a lot of teams who have thesesplits that are in their favor.
And hey, I get it.
Brokerages take on responsibility
and they take on lenderrelationships and they take on
brick and mortar and they take onall this blah, blah, blah, blah,
(06:54):
blah.
But guess what?
The value that is being added.
Back in the day, you could
rationalize way more for anexample, your 80 -20 split.
Now, it's like, what else do yougot?
What do I get now?I've been here eight years.
I don't need that.
I don't need that.
The business is evolving atlightning speed.
We're getting crushed by banks.
And don't tell me you have
(07:15):
training when the training is youbringing in lenders to talk about
their products.
about their products.
That's not training.
That's just giving BDMs a show,
like a spot to talk.
And don't tell me that's your
training.
So what are you doing?
And if you're not up in your game,then you need to lower the split
(07:36):
and renegotiate.
And you're like, but Ryan, I
don't.
I'm like, yeah, you're right.
You don't.
Unless someone comes to talks to
you and says, so brokers, this isme going to you.
Go and fucking renegotiate yoursplit.
If you're not getting what youthink you should be getting.
There are a lot of people runningamazing shops out there now where
(07:57):
they're giving crazy amounts ofvalue and ongoing training and
evolving.
And if your business is dying.
with everyone else's, then eitherget the help outside or look
internal where you're alreadycutting a check and figure out
your house first.
Get your house in order.
Okay, your personal house shouldbe in order.
That's the number one fix ineveryone's life to make your life
go good.
But after that, get your business
house in order.
And I'm talking about at your damn
(08:18):
brokerage.
Look them in the eye and man to
man, woman to woman, man to woman,woman to man, whatever.
And like, am I getting the value?And do your due diligence and come
back and be like, I don't think Iam.
Nine times out of 10, you aren't.
So the question then becomes why?
(08:41):
So I'm just going to tell you,this is what I hear.
I'm in the trenches talking topeople.
I've talked to probably just under200 agents since October.
And this is about joining my team.
So I have a lot of data and I'm
not handing these phone calls offto somebody.
I'm taking each and every phonecall, multiple ones sometimes.
And so the things I'm hearing are,well, Johnny's a nice guy, right?
And so I just, I've been there solong and there's just such a nice
(09:04):
guy.
And I'm like, cool, great.
Get it.
Awesome.
Nice guy.
But you're okay.
That's not a responsible businessowner's response.
And so then you just call what itis.
You go, hey, I'm sacrificingmoney.
I'm paying more money to the houseon an old 80 -20 split.
And I'm only using that 80 -20 aslike an example.
So I can just reference it back.
(09:24):
I'm on an old 80 -20 split.
There's been no new cool thingscoming in that has helped
transition and change my business.
There's no coaching and mentoring
where I'm always there because theperson at the top is running their
own book.
And that's priority one, two,
three, four.
Always is, always will be.
It feeds their family.
A lot of them are running side
(09:46):
projects.
So I ran into a couple of guys
last 10 days, two, three differentguys, different shops, different
provinces.
And they're like, it was awesome.
My broker owner was there and thengot me in the door and then kind
of peaced out.
He's such a nice guy.
And he answers the phone once in awhile.
But now he's running these sidebusinesses in the mortgage world.
But he's trying to come up withthese other things.
And I'm sitting here like right infront of him going, hey, what
(10:07):
about me?I'm the side business.
Like, what about me?I'm like, you're brokerage.
I'm on the team.
Like, I'm cutting you a check
every deal.
I'm paying these monthly fees
where I don't even know wherethey're going.
And like, I'm doing these things.
Like, why are you on to this other
side thing?Like, why not make this the side
thing, but like a bigger thing?Like, why are, it's just another
(10:28):
thing.
And so it's that passive income.
So the passive income is this oldwives tale that gets thrown around
online, entrepreneurs, the passiveincome.
There's no such thing as passiveincome.
If you're chasing that dream andyou're going down all the
different get rich quick things,it doesn't exist.
But a lot of broker owners.
have this going on.
They're like, Hey, I'm running myown book.
Cause I lived this world.
Okay.
So I'm, I was in these footsteps.
(10:48):
I'm running my own book.
And all of a sudden I start doing30, 40, 50 mil.
And then all of a sudden peoplewant to come to me and they're
like talking to me.
How are you doing it?
Right.
How are you doing?
What's going on?Like, can I come join you?
Can you teach me?And you're like, Oh, this is cool.
I'll like teach them a couple ofthings.
(11:10):
And then I'll take like 10 pointsoff them.
And, and that's cool.
And I'll earn money.
And now I got this passive incomeand I got multiple streams of
income.
Right.
We hear that all the time.
And little do you like.
stop.
So many brokerages are set up like
that now where you, the mortgageagent or broker is a part of
someone else's passive incomestream, multiple income stream.
You're not the main show.
You're just along for the ride.
And guess what?This is your main gig.
So how the hell does that makesense?
(11:30):
And this is where the whole thingis broken and it's a house of
cards and it starts falling apart.
So when you start, seeing that and
the angles and you start going,wait a second, this isn't the main
thing, but it's my main thing.
It feeds my family for generations
to come.
I hope to have my kids working it
someday.
Hopefully, maybe I sell my book,
whatever, whatever.
But the people who I'm relying on
and trusting, it's not their mainthing.
(11:50):
It might be number three, four,five.
And it shows.
It absolutely shows in how present
they are.
how up to speed on things they
are, how they're evolving withthings in the industry and how
they're sharing it in coaching andmentoring and creating tools and
sharing tools and helping you likeincrease your business.
(12:10):
And like, so this is the milliondollar question.
It's your main gig, yet you'realigned to someone where you're
number five, six, seven in line.
And then if it's someone that has
10, 15, 20, 30 agents, you're likesomewhere even farther down.
Right.
And so you start getting
misplaced.
And I'm just seeing this all the
time.
But it started because every
broker's got approached by myfranchise.
Go start this brokerage.
Go do this thing.
(12:31):
You can agents will come to youand you can go get 10 and get some
passive income.
And just saying it out loud, like
really bothers me because justsaying, hey, I'm going to bring
agents on as passive income.
They're going to put their careers
in my hands.
And I'm going to give them a place
(12:52):
to hang their license and providethem crazy amounts of support,
training and mentorship.
No, I'm not.
It was always going to be passiveincome.
It was always going to be.
And the quicker you realize that,
and I can say this, I've livedevery angle of this.
You can be like, Ryan, you're fullof shade on what you're talking
(13:13):
about.
No, it's exact opposite of that.
I'm living it right now.
And I throw my blood, sweat and
tears.
And so does our team to support
our agents.
I don't have a book of business.
And that actually got referencedback to me a couple of times this
week.
And I like, I don't tell people
that once in a while I do, but itwas like, that's what I love by
(13:35):
Ryan.
Like you're innovating and you're
bringing all this training andcoaching and you're doing dumb for
you things and holding our hand.
And like, you don't have a
competing book.
I'm never competing against you
and your book.
And I was like, ah, the fact that
like people are starting to readthe tea leaves here and see it.
(13:55):
I'm like, that's so cool.
That's so awesome.
And so the question is, do youwant to be someone's sideshow?
Someone's.
passive income stream someone's
right put in sexy hook word hereor do you want to be part of the
main show somewhere right whereeveryone where you're paying the
money is all in and the teamyou're paying it to the support
system you have is all freaking inlike you're paying the same amount
so here's the last reference i'lldo on this and then we'll switch
(14:15):
gears is if someone on my team is85 15 and let's just say you're 85
15 over there which is happening alot.
People are joining and they'relike, oh, I'm the same split.
And I, holy shit balls, I get allthis.
Wow.
Why was I not over here fast?
Okay.
But if you're 85, 15 there and 85,
15 here, it's like, you're payingthe same amount of money as the
agents on my team are paying tothe mothership, which is me and
like getting 2 % of the offering.
(14:36):
And so this starts to become not
a, hey, my brokerage sucks.
mentor team lead sucks it's it's
you suck for for recognizing it orat least not stopping to smell the
roses and figure it out and thenyou not shifting gears whatever
that means and like switchingscenery and just checking out
options because now it justbecomes you it's like they've laid
(14:57):
it out and this is what's happenedis brokerages they've fallen
asleep at the wheel they havethey've been stacking cash For
years, their margins have slowlybeen getting smaller.
And instead of them going, hey,how can we add more value to the
agents?So this is where my mindset goes.
What can we do to allow our agentsto make more money?
Because if our agents make moremoney, we make more money.
That's what we talk about all thetime.
(15:17):
But other brokerages, theirmargins are getting smaller.
So what do they do?They start cutting resources and
tools and giving you less accessto things.
They go the opposite way.
Because they have a scarcity
mentality.
They're like, oh, we got to like,
oh, our expenses are getting toohigh.
It's like, well, yeah, well, whydon't you help them increase their
(15:42):
business?Like I just, it's so backwards.
It's so freaking backwards.
So for us, that's why we do all
the dumb for you stuff.
With the email marketing drips and
the rate tracker sheet and theautomations and the custom
proposals around man one.
And like we have more marketing
and webinar stuff coming.
Like we do all that because we
want you to make more money.
(16:04):
in a harder time to make money.
So we're empowering you and givingyou the tools because I know 90 %
brokers aren't going to go do itif we coach you.
So we said, frig it.
We're going to make a business
decision.
We crunched the math.
We hired the staff.
We're going to go build it for
you.
Now, guess what?
You don't have to focus on.
(16:25):
You could be a lean and mean
mortgage machine.
Go do your thing.
And so that thinking, there's ashift happening here.
And some of you are seeing it andothers are just falling asleep at
the wheel as well.
Or you're so in the weeds, in the
bad weeds of your business.
You're just like head in the sand,
not worrying, not thinking aboutit.
Don't worry.
My guy, he's a good guy.
(16:45):
I've known him forever.
And like pump fist pumps.
Like, yeah, yeah, yeah, bro.
Let's go, man.
Let's go.
Yeah, yeah, yeah.
Like, oh no, she's awesome.
Yeah, we go for drinks.
Gents, you're such a good friendof mine now.
Cool.
Your business is over there going,
hey, hello.
I'm struggling.
I need help.
This isn't the deal.
This isn't the essence of abrokerage.
This was brokering 10 years ago.
It's not brokering now.
(17:06):
And too many of you are caught upin it and you're not seeing it.
And others are actually coming outgoing, holy shit, I miss this.
And a lot of you are actuallyunderstanding things are changing.
They're changing fast.
Brokers, I've told you in the
past, I've had people reach out tome and go, Ryan, can you block my
people on social media?Because they just keep bugging me
all the things you do and thethings.
And I can't do it because I run mybook.
(17:29):
And I'm like, God, no. I'm like,just get better.
If someone was to leave yourbrokerage and come over to my team
or go somewhere else, why wouldyou get mad?
Just get better.
Get better at serving them.
You are here to serve your agents.
I know some of you have a
completely different spin on that.
You're like, no, no, no. We're the
mothership.
They're lucky to have us.
They're lucky to have us here toprovide them with lender access
(17:51):
and company parties and bullshitlender training and some portal
and some tech stack that was justgiven to us and we forced everyone
to use submission platform andblah, blah, blah.
They're lucky to have us.
It's like, no, no, you're not
seeing it, man.
You're not seeing it.
It's the opposite.
And that's where I have a
(18:14):
different vision on absolutelyeverything.
There's only a couple people inthe industry that share that same
vision with me.
And it's my job to serve you, you
and your business every freakingday.
What can we do?We're in this to make money.
Let's not hide behind that.
Let's not call it something else.
What can we do to help you, Mr.
Mrs. Agent or broker?
Be more successful to make moneyfor your family.
That's what I'm here to do.
That is my purpose.
And that's why we're so excitedabout what we're doing.
(18:35):
So I'm going to shift gears.
I'm going to talk about how
brokering, the old school way ofbrokering is dead.
That was the old school way ofrunning a brokerage is dead.
And some people are still cashingchecks and they've still got
contracts signed up and they'restill running the money.
Like the money's coming in andthey're, but they'll quickly dry
up over time.
(18:56):
The gig will be up.
The jig will be up.
Jig will be up.
I think it's jig.
Jig will be up.
Yeah, I'm not sure.
This podcast is brought to you by
Gatorade Zero.
Lukewarm.
Doesn't matter.
Purple.
Okay.
So old school way of brokering.
So the old school way ofbrokering, and I'm seeing this
happen live in front of me again,is.
(19:16):
And I used to be part of that oldschool way of brokering was, you
know, you call realtors and youbring donuts and rate sheets and
open houses and all that bullshit.
And you try to get people on Zoom
calls and blah, blah, blah.
And you build up a book and you
finally have this book.
(19:37):
And then you just start churning
over your book.
And every three, four years,
you're looking for a refi because.
Prices in real estate are going up
a little bit.
And so and they're paying on the
mortgage and they're spending likeit's an ATM.
So they need to refine.
You're coming in there like, I got
you.
I'll help you with a debt console
(19:58):
back up to 30 year.
And numbers look great.
Interest rate is two and you'recurrently at four.
I'm a rock star.
We're going to roll your credit
card in maybe your car payment.
So you look like more of a rock
star and maybe a lot of credit.
And so you just come out of this
like.
I'm a mortgage broker.
I saved you $900 a month and Idelayed you being mortgage free
(20:20):
for a much longer period of time.
And that was the old school way.
And then at renewal time, you cometalk to me and I've got deals.
I'll move you over here, move youover there and come to my pumpkin
patch giveaway thing.
Come to my movie theater thing.
You can come to this and that.
And my customer service is
awesome.
And I'm warm and fuzzy.
And I give you gift cards and Igive you a handle cutco knives.
(20:42):
And I do.
And it's like this warm and like,
cool.
All that like.
You can run a really, really,really good business doing all
that.
You used to be able to.
There's been a shift, and it'sshifting really, really fast,
where you have mortgage brokerswho had $100 million, $200 million
business, who are now doing 30%,40 % of that.
And now, we're right now, thispodcast is July 2025.
So there's been a little uptick,like the spring market was delayed
(21:03):
a bit.
And so people are a little busier
now.
So everyone feels a little better
about their business than they didsix months ago or five months ago.
And so those people are like,okay, so I'm getting a little
busy.
I'm going to phone's ringing.
Okay, cool.
That's going to, the bomb's going
to drop out again.
It'll drop it again because the
banks are literally eating you,eating your lunch.
They're coming in and going, we'regoing to crush you.
(21:25):
We'll be 30, 40 basis points andall uninsured deals better than
you.
Then what do you do?
And then you're sitting heregoing, holy shit, I didn't build
up a brand on social media.
I'm not good at handling
objections.
I thought I could wordsmith my way
into scenarios by shitting onother banks, going RBC stocks,
prepayment privileges, boo.
And they're just after you.
And how goes the customer service?And they're like, yeah, I don't
care.
I'm just going to go here because
I save money.
(21:46):
The lowest interest rate beats
everything.
So that's why we started Strategy
Hub.
That's why we focused this on Team
Wiley.
It is changing the conversation
from price and product andchanging it to a strategy.
right?And finding pain points and doing
this.
And this is where a lot of the old
school brokers, and when I say oldschool, you could be someone that
(22:09):
had a business pre -COVID that didwell, that now the bottom has
fallen out.
And you might be like, no way,
right?Yeah, way.
Like all around me, I'm seeingthis.
People I've coached in the past,one -on -one, people reach out to
me and they go, yeah, I heard thatyou're absolutely right.
This is what's happening.
We're all hearing it.
And you can tell there's a bit ofsense, like it's us against the
banks.
It's like that's like that battle
is like beefing itself up.
(22:29):
And it's like, cool, if you want
to think that, but like, why don'tyou just get better at, you know,
talking about strategies anddifferent ways to plan around the
mortgage, different ways to usethe mortgage as a weapon,
different ways to think aboutmortgage planning.
And that's where you really needto go.
And that's the shift.
And a lot of the old school
brokers, the ones who've been infor a while, who've been making
(22:49):
bank and a lot of money.
By doing basic stuff and like, I
don't even do email marketing.
I don't know why I'm making all
these voices tonight, but I don'teven do email marketing and it
works.
And I still get, well, yeah,
because you have like this oldschool thing, but someone
brokering starting the last five,10 years, like now, like
especially someone even juststarting the last year or two,
like it's a different ballgame,completely different.
You have to approach it from acompletely different angle.
(23:10):
And if you're not niched out tosome degree, goodbye, good luck.
If you're going to play the rightgame with anyone, goodbye, good
luck.
I wouldn't even start.
I wouldn't even start.
I'd quickly find out what my
niches are.
You can have one or two niches.
There should be some rollover inthem.
But you don't need to be a new toCanada expert and a reverse
mortgage expert.
No correlation there for
marketing, completely differentavatars.
And there's enough reversemortgages to feed your family
millions of dollars of businessfor a long time.
(23:33):
There are enough mortgages in thefirst time home for the same,
right?So you don't need to do that, but
you need to focus on this.
I can't give you all the pieces of
the puzzle, not on this podcastand definitely not even in like
certain things in strategy.
Like it's just, this is stuff you
have to just be cognizant of earto the ground because the way of
brokering in the past and all thisrenewal, I thought there's
(23:53):
supposed to be like this goldrush.
I thought there's supposed to beall these renewals, the most
renewals ever.
Coming up in the two years.
Yeah, how many of you spun yourwheels for a long period of time?
And did it really work out?Did you actually factor in all the
calls you took, all the budgetsyou did?
If you even did that, and God, Iknow so many of you don't, which
is sad, a little bit sad.
They're not prepping your clients
(24:13):
with numbers.
How many of you got approvals with
lenders?Approval ratings, the follow
-through funding ratios are down.
Because people, like, they're
down.
I'm hearing this from, like, our
big lenders.
They're like, yeah, they're down,
man.
People I know, our options aren't
great.
They're coming to us last option.
We're getting shitier deals.
And then they're losing deals last
second at renewal time.
And that's why they're changing
(24:34):
all their guidelines andregulations around certain rates
and rates don't match and ratetracking and real -time pricing
with TD.
And it's like, if you can't see
this shift, God help you.
I don't know what to tell you.
But it's coming.
And it's here.
It's actually not coming.
It's literally here.
So the old school way of doingthings just doesn't work.
(24:55):
A lot of the old training that'sout there doesn't work.
You're just going to pay money andyou're going to like switch gears
again in six months and then be onto the next thing.
And you're out three, four or fivegrand and you wasted 60 hours of
your life.
There's certain foundational
pieces you need to have dialed inin your business without a
freaking doubt.
And I talk about it a lot on here.
I'm not going to unpack them rightnow, but that becomes your focus.
(25:17):
You need to figure out what thosefoundational pieces are in your
business.
And if you're not going to build a
brand through social media, you'regoing to be in trouble.
Right.
And so here becomes I'm just going
to touch on the social part.
And so I see a lot of content out
there, obviously, which is great.
It's come out a lot.
And I just think it's awesomebecause I love talking about the
(25:38):
social in our industry andwhatnot.
And I'm starting to see like a lotof over edited videos now.
And I'm like, that's cool.
But we also we came through a
world already.
Things shift in the social world.
And in the social world, what'salways going to shine through like
a bright star is going to be howauthentic can you be?
Think of the people you followthat you really resonate with.
Is it the ones where they're like,bam, wham, Taylor Swift's on the
(26:01):
screen and this is on the screenand that and a rocket ship's taken
off and it's edited and it'sflashing and there's B -roll.
There's like eight differentthings going on.
That's cool once in a while to doa flex there and show off a
different angle to get attention.
I appreciate that.
I actually really do.
But at the end of the day.
It's you on a camera, whateverversion you're in, sharing your
(26:23):
thoughts, really connecting, beinghonest, being authentic, being
real, just like how you helppeople, what you're doing, where
your thoughts are, showing whatyou do in your hobbies, like
giving all of that to people.
That's what's going to give you a
fighting chance is building thattype of brand, not the other brand
that looks like you're copyingsomeone else and you're trying to
figure it out and you're overediting shit.
You're trying to really hide thefact that you don't want to be on
(26:45):
camera.
you need to be comfortable on
camera.
And if not, go learn, right?
Go and train yourself.
Go and take training.
Go and figure it out.
Go to Toastmasters and get
comfortable speaking.
It'll pay off in spades.
So we're not going to shift thisanymore on that.
This was me talking to you aboutwhat I talked about at the
beginning and how just brokeragesand brokering is changing right in
front of us way faster than youthink.
And it's time to open yourfreaking eyes, kids.
Open it and just look around,smell the roses, and make sure
(27:08):
you're in the right spot becauseif not, it's on you.
It's nobody else's fault.
Okay, that's it, kids.
Enjoy the rest of your night orday or whenever you're listening
to this.
Until next time, peace out.
Welcome to the mortgage game.
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, so now I want to distill
(00:27):
all that information, all thethings I've learned from that, and
bring it directly to you in asimple -to -understand way.
I hope you enjoy.
All right, welcome to the Mortgage
Game Podcast.
West Coast Wiley in the house.
This is an evening version, 7 .43p .m.
at the beach.
The beach is jammed, so I had to
(00:49):
go to a smaller beach with notsuch a great view, but still I can
see water and boats and mountains,so I'm happy.
And this is one of those things,like this is this podcast, much
like the emails are right there.
It's kind of like whenever the
writer wants to write, it's not,hey, I have to get this out every
week because I do.
I just and now I feel like doing
this and there's stuff I want totalk about.
(01:10):
So here we are.
So let's get into it.
Here's some random things for you.
I talked to probably two to three
mortgage brokers who are not on myteam every day.
And there's some common themescoming around.
I want to just bring these toforefront because part of me is
I'm going to talk about how theold way of brokering is dead.
and the new way of brokering, howold brokers are getting crushed
and why they're getting crushedand how you should not make the
(01:31):
same mistake.
So we'll talk about that.
But let's talk about theconversations I'm having with
people.
And so I don't know if I'm more
surprised by the fact thatbrokerages and team leads are
still getting away with this orthat mortgage brokers are still
allowing it to happen to them.
And I'm just going to give you a
(01:51):
couple examples.
This is like real stuff from like
smart people.
And so we've got, for example, one
brokerage or one team just figuredout that, hey, we're actually not
getting part of all the efficiencybonuses and the promo bonuses.
And like we're missing out onliterally $20 ,000, $30 ,000, $15
(02:12):
,000 to $20 ,000 each.
And we didn't know about it.
And they were.
really trying to hide it from us,
but they made a mistake and wecaught them.
And I hear this all the time, likeall the time.
And so I'm never shocked by it.
I'm never like, Oh my God, really?
No way.
I'm like, okay.
Yeah.
Yeah.
Sounds about right.
(02:33):
That's an old school way.
It's an old thing.
Hide it.
And I know there's a lot of peopletalking about transparency.
I'm telling you, there's a lot ofshysters still out there.
And but the fact that the mortgagebrokers are still allowing people
to get away with it because theydon't know the numbers.
I can't tell you how many times Italk to brokers.
I'm like, so what is your split?Oh, 90 -10.
(02:54):
Cool.
Is it 90 -10 before?
Like, is that all in or is therelike three or 5 % taken off with
the network plus tax?And then you get now.
Oh, yeah, yeah.
That's what it is.
And I also just learned that likeeight months ago and I've been
there five years.
Oh, OK.
Well, that's a little scary.
It's a little scary to me.
You're a mortgage broker advisingpeople on financial decisions and
(03:15):
numbers, and you don't know yourown numbers.
And it's also scary that it'sbeing hidden from you and it's not
outlined.
And then the answer to you is,
well, it's not outlined on the paystub.
I get $5 ,000 and then I get my 90-10 of that, but the five has
already been taken, but that'snever seen on the pay stub.
That's already been taken off andit just shows 90 -10.
When in all reality, you'renetting out in that instance, like
(03:37):
if you're in Ontario.
When I was at a network like that,
it was 5 % plus tax.
I was paying 5, 6, 5 to the house
and the house goes off first.
The house eats before anyone else.
And then it was my split.
And so if you're 90 -10 and you
have that in addition, you'reactually less than 85 -15 when you
actually do the math.
And so these are things you need
to know, but it's also things youneed to ask.
(03:59):
And it should be like where you'renot scared to ask or you feel
threatened to ask.
There should also be, it's cool if
brokerages want to take efficiencybonuses and promo bonuses and they
want to do all that, but it shouldbe clearly articulated and lay out
and pointed out to you.
And it's not.
And I know some places they justtake it.
And some places don't allow you totalk to the underwriter or talk to
(04:24):
the BDM or they coach the BDM tonot, when they're talking to the
agents, not to mention volumebonus because they keep it without
letting them know.
This shit's happening in front of
us.
And this is an old school way of
brokering.
And anyone who wants to debate me
on this, I'm up for it.
Because I know how it works.
I know how the sausage is made.
I was involved in it.
(04:45):
And so you will have people tellyou, like people told me, go start
a team, Ryan.
And then, hey, guess what?
You get to keep the volume bonusbecause you work really hard for
it.
And they can work off finders
fees.
And that's just the way it goes.
And I was like choked on mybiscuit.
Maybe I was having tea and biscuitthat day, but it's like, what?
(05:06):
What?No, there's no way I could do
that.
What the hell?
Yeah, but it's being coached downfrom the top.
And so this is happening.
So this is me saying to you,
going, do you know your numbers?Like, is it clearly articulated on
the pay stub?Have you actually went in and
reconciled a file and looked at,did I get all my finder's fee?
Did I get my volume bonus?Did I get my quarterly efficiency
(05:28):
bonus?Did I get my actual split or is
there a network fee?And it's like, ta -da, there'll be
found money there.
And also, I'm guessing if you go
figure that out and it's been sortof pushed under the rug and hasn't
been talked about, I'm guessingyou're going to have a different
vibe than you would previously, adifferent thought about the people
running the show.
(05:49):
And I will tell you right now,
there are way more good peoplerunning brokerages and teams than
there are bad.
But there's still a lot of bad
apples around us.
And this is happening way more
than I actually thought still.
I thought people would clean
things up.
But here's what's going on.
This podcast has been brought toyou by Zero Gatorade.
(06:11):
Great version.
My fave.
This is...
The old school way of brokering.
There's a lot of old school waywhere people run their books the
old way and getting crushed andpeople running brokerages.
And so this is the common themeI'm hearing now.
And I totally agree.
And this isn't me coming up to
conclusions.
I've already come up with these
conclusions.
It's just nice to actually hear
(06:31):
people say it to me without measking questions.
And I'm like, oh.
You're actually seeing what I've
been seeing for a long time isthat there's a lot of brokerages
and a lot of teams who have thesesplits that are in their favor.
And hey, I get it.
Brokerages take on responsibility
and they take on lenderrelationships and they take on
brick and mortar and they take onall this blah, blah, blah, blah,
(06:54):
blah.
But guess what?
The value that is being added.
Back in the day, you could
rationalize way more for anexample, your 80 -20 split.
Now, it's like, what else do yougot?
What do I get now?I've been here eight years.
I don't need that.
I don't need that.
The business is evolving atlightning speed.
We're getting crushed by banks.
And don't tell me you have
(07:15):
training when the training is youbringing in lenders to talk about
their products.
about their products.
That's not training.
That's just giving BDMs a show,
like a spot to talk.
And don't tell me that's your
training.
So what are you doing?
And if you're not up in your game,then you need to lower the split
(07:36):
and renegotiate.
And you're like, but Ryan, I
don't.
I'm like, yeah, you're right.
You don't.
Unless someone comes to talks to
you and says, so brokers, this isme going to you.
Go and fucking renegotiate yoursplit.
If you're not getting what youthink you should be getting.
There are a lot of people runningamazing shops out there now where
(07:57):
they're giving crazy amounts ofvalue and ongoing training and
evolving.
And if your business is dying.
with everyone else's, then eitherget the help outside or look
internal where you're alreadycutting a check and figure out
your house first.
Get your house in order.
Okay, your personal house shouldbe in order.
That's the number one fix ineveryone's life to make your life
go good.
But after that, get your business
house in order.
And I'm talking about at your damn
(08:18):
brokerage.
Look them in the eye and man to
man, woman to woman, man to woman,woman to man, whatever.
And like, am I getting the value?And do your due diligence and come
back and be like, I don't think Iam.
Nine times out of 10, you aren't.
So the question then becomes why?
(08:41):
So I'm just going to tell you,this is what I hear.
I'm in the trenches talking topeople.
I've talked to probably just under200 agents since October.
And this is about joining my team.
So I have a lot of data and I'm
not handing these phone calls offto somebody.
I'm taking each and every phonecall, multiple ones sometimes.
And so the things I'm hearing are,well, Johnny's a nice guy, right?
And so I just, I've been there solong and there's just such a nice
(09:04):
guy.
And I'm like, cool, great.
Get it.
Awesome.
Nice guy.
But you're okay.
That's not a responsible businessowner's response.
And so then you just call what itis.
You go, hey, I'm sacrificingmoney.
I'm paying more money to the houseon an old 80 -20 split.
And I'm only using that 80 -20 aslike an example.
So I can just reference it back.
(09:24):
I'm on an old 80 -20 split.
There's been no new cool thingscoming in that has helped
transition and change my business.
There's no coaching and mentoring
where I'm always there because theperson at the top is running their
own book.
And that's priority one, two,
three, four.
Always is, always will be.
It feeds their family.
A lot of them are running side
(09:46):
projects.
So I ran into a couple of guys
last 10 days, two, three differentguys, different shops, different
provinces.
And they're like, it was awesome.
My broker owner was there and thengot me in the door and then kind
of peaced out.
He's such a nice guy.
And he answers the phone once in awhile.
But now he's running these sidebusinesses in the mortgage world.
But he's trying to come up withthese other things.
And I'm sitting here like right infront of him going, hey, what
(10:07):
about me?I'm the side business.
Like, what about me?I'm like, you're brokerage.
I'm on the team.
Like, I'm cutting you a check
every deal.
I'm paying these monthly fees
where I don't even know wherethey're going.
And like, I'm doing these things.
Like, why are you on to this other
side thing?Like, why not make this the side
thing, but like a bigger thing?Like, why are, it's just another
(10:28):
thing.
And so it's that passive income.
So the passive income is this oldwives tale that gets thrown around
online, entrepreneurs, the passiveincome.
There's no such thing as passiveincome.
If you're chasing that dream andyou're going down all the
different get rich quick things,it doesn't exist.
But a lot of broker owners.
have this going on.
They're like, Hey, I'm running myown book.
Cause I lived this world.
Okay.
So I'm, I was in these footsteps.
(10:48):
I'm running my own book.
And all of a sudden I start doing30, 40, 50 mil.
And then all of a sudden peoplewant to come to me and they're
like talking to me.
How are you doing it?
Right.
How are you doing?
What's going on?Like, can I come join you?
Can you teach me?And you're like, Oh, this is cool.
I'll like teach them a couple ofthings.
(11:10):
And then I'll take like 10 pointsoff them.
And, and that's cool.
And I'll earn money.
And now I got this passive incomeand I got multiple streams of
income.
Right.
We hear that all the time.
And little do you like.
stop.
So many brokerages are set up like
that now where you, the mortgageagent or broker is a part of
someone else's passive incomestream, multiple income stream.
You're not the main show.
You're just along for the ride.
And guess what?This is your main gig.
So how the hell does that makesense?
(11:30):
And this is where the whole thingis broken and it's a house of
cards and it starts falling apart.
So when you start, seeing that and
the angles and you start going,wait a second, this isn't the main
thing, but it's my main thing.
It feeds my family for generations
to come.
I hope to have my kids working it
someday.
Hopefully, maybe I sell my book,
whatever, whatever.
But the people who I'm relying on
and trusting, it's not their mainthing.
(11:50):
It might be number three, four,five.
And it shows.
It absolutely shows in how present
they are.
how up to speed on things they
are, how they're evolving withthings in the industry and how
they're sharing it in coaching andmentoring and creating tools and
sharing tools and helping you likeincrease your business.
(12:10):
And like, so this is the milliondollar question.
It's your main gig, yet you'realigned to someone where you're
number five, six, seven in line.
And then if it's someone that has
10, 15, 20, 30 agents, you're likesomewhere even farther down.
Right.
And so you start getting
misplaced.
And I'm just seeing this all the
time.
But it started because every
broker's got approached by myfranchise.
Go start this brokerage.
Go do this thing.
(12:31):
You can agents will come to youand you can go get 10 and get some
passive income.
And just saying it out loud, like
really bothers me because justsaying, hey, I'm going to bring
agents on as passive income.
They're going to put their careers
in my hands.
And I'm going to give them a place
(12:52):
to hang their license and providethem crazy amounts of support,
training and mentorship.
No, I'm not.
It was always going to be passiveincome.
It was always going to be.
And the quicker you realize that,
and I can say this, I've livedevery angle of this.
You can be like, Ryan, you're fullof shade on what you're talking
(13:13):
about.
No, it's exact opposite of that.
I'm living it right now.
And I throw my blood, sweat and
tears.
And so does our team to support
our agents.
I don't have a book of business.
And that actually got referencedback to me a couple of times this
week.
And I like, I don't tell people
that once in a while I do, but itwas like, that's what I love by
(13:35):
Ryan.
Like you're innovating and you're
bringing all this training andcoaching and you're doing dumb for
you things and holding our hand.
And like, you don't have a
competing book.
I'm never competing against you
and your book.
And I was like, ah, the fact that
like people are starting to readthe tea leaves here and see it.
(13:55):
I'm like, that's so cool.
That's so awesome.
And so the question is, do youwant to be someone's sideshow?
Someone's.
passive income stream someone's
right put in sexy hook word hereor do you want to be part of the
main show somewhere right whereeveryone where you're paying the
money is all in and the teamyou're paying it to the support
system you have is all freaking inlike you're paying the same amount
so here's the last reference i'lldo on this and then we'll switch
(14:15):
gears is if someone on my team is85 15 and let's just say you're 85
15 over there which is happening alot.
People are joining and they'relike, oh, I'm the same split.
And I, holy shit balls, I get allthis.
Wow.
Why was I not over here fast?
Okay.
But if you're 85, 15 there and 85,
15 here, it's like, you're payingthe same amount of money as the
agents on my team are paying tothe mothership, which is me and
like getting 2 % of the offering.
(14:36):
And so this starts to become not
a, hey, my brokerage sucks.
mentor team lead sucks it's it's
you suck for for recognizing it orat least not stopping to smell the
roses and figure it out and thenyou not shifting gears whatever
that means and like switchingscenery and just checking out
options because now it justbecomes you it's like they've laid
(14:57):
it out and this is what's happenedis brokerages they've fallen
asleep at the wheel they havethey've been stacking cash For
years, their margins have slowlybeen getting smaller.
And instead of them going, hey,how can we add more value to the
agents?So this is where my mindset goes.
What can we do to allow our agentsto make more money?
Because if our agents make moremoney, we make more money.
That's what we talk about all thetime.
(15:17):
But other brokerages, theirmargins are getting smaller.
So what do they do?They start cutting resources and
tools and giving you less accessto things.
They go the opposite way.
Because they have a scarcity
mentality.
They're like, oh, we got to like,
oh, our expenses are getting toohigh.
It's like, well, yeah, well, whydon't you help them increase their
(15:42):
business?Like I just, it's so backwards.
It's so freaking backwards.
So for us, that's why we do all
the dumb for you stuff.
With the email marketing drips and
the rate tracker sheet and theautomations and the custom
proposals around man one.
And like we have more marketing
and webinar stuff coming.
Like we do all that because we
want you to make more money.
(16:04):
in a harder time to make money.
So we're empowering you and givingyou the tools because I know 90 %
brokers aren't going to go do itif we coach you.
So we said, frig it.
We're going to make a business
decision.
We crunched the math.
We hired the staff.
We're going to go build it for
you.
Now, guess what?
You don't have to focus on.
(16:25):
You could be a lean and mean
mortgage machine.
Go do your thing.
And so that thinking, there's ashift happening here.
And some of you are seeing it andothers are just falling asleep at
the wheel as well.
Or you're so in the weeds, in the
bad weeds of your business.
You're just like head in the sand,
not worrying, not thinking aboutit.
Don't worry.
My guy, he's a good guy.
(16:45):
I've known him forever.
And like pump fist pumps.
Like, yeah, yeah, yeah, bro.
Let's go, man.
Let's go.
Yeah, yeah, yeah.
Like, oh no, she's awesome.
Yeah, we go for drinks.
Gents, you're such a good friendof mine now.
Cool.
Your business is over there going,
hey, hello.
I'm struggling.
I need help.
This isn't the deal.
This isn't the essence of abrokerage.
This was brokering 10 years ago.
It's not brokering now.
(17:06):
And too many of you are caught upin it and you're not seeing it.
And others are actually coming outgoing, holy shit, I miss this.
And a lot of you are actuallyunderstanding things are changing.
They're changing fast.
Brokers, I've told you in the
past, I've had people reach out tome and go, Ryan, can you block my
people on social media?Because they just keep bugging me
all the things you do and thethings.
And I can't do it because I run mybook.
(17:29):
And I'm like, God, no. I'm like,just get better.
If someone was to leave yourbrokerage and come over to my team
or go somewhere else, why wouldyou get mad?
Just get better.
Get better at serving them.
You are here to serve your agents.
I know some of you have a
completely different spin on that.
You're like, no, no, no. We're the
mothership.
They're lucky to have us.
They're lucky to have us here toprovide them with lender access
(17:51):
and company parties and bullshitlender training and some portal
and some tech stack that was justgiven to us and we forced everyone
to use submission platform andblah, blah, blah.
They're lucky to have us.
It's like, no, no, you're not
seeing it, man.
You're not seeing it.
It's the opposite.
And that's where I have a
(18:14):
different vision on absolutelyeverything.
There's only a couple people inthe industry that share that same
vision with me.
And it's my job to serve you, you
and your business every freakingday.
What can we do?We're in this to make money.
Let's not hide behind that.
Let's not call it something else.
What can we do to help you, Mr.
Mrs. Agent or broker?
Be more successful to make moneyfor your family.
That's what I'm here to do.
That is my purpose.
And that's why we're so excitedabout what we're doing.
(18:35):
So I'm going to shift gears.
I'm going to talk about how
brokering, the old school way ofbrokering is dead.
That was the old school way ofrunning a brokerage is dead.
And some people are still cashingchecks and they've still got
contracts signed up and they'restill running the money.
Like the money's coming in andthey're, but they'll quickly dry
up over time.
(18:56):
The gig will be up.
The jig will be up.
Jig will be up.
I think it's jig.
Jig will be up.
Yeah, I'm not sure.
This podcast is brought to you by
Gatorade Zero.
Lukewarm.
Doesn't matter.
Purple.
Okay.
So old school way of brokering.
So the old school way ofbrokering, and I'm seeing this
happen live in front of me again,is.
(19:16):
And I used to be part of that oldschool way of brokering was, you
know, you call realtors and youbring donuts and rate sheets and
open houses and all that bullshit.
And you try to get people on Zoom
calls and blah, blah, blah.
And you build up a book and you
finally have this book.
(19:37):
And then you just start churning
over your book.
And every three, four years,
you're looking for a refi because.
Prices in real estate are going up
a little bit.
And so and they're paying on the
mortgage and they're spending likeit's an ATM.
So they need to refine.
You're coming in there like, I got
you.
I'll help you with a debt console
(19:58):
back up to 30 year.
And numbers look great.
Interest rate is two and you'recurrently at four.
I'm a rock star.
We're going to roll your credit
card in maybe your car payment.
So you look like more of a rock
star and maybe a lot of credit.
And so you just come out of this
like.
I'm a mortgage broker.
I saved you $900 a month and Idelayed you being mortgage free
(20:20):
for a much longer period of time.
And that was the old school way.
And then at renewal time, you cometalk to me and I've got deals.
I'll move you over here, move youover there and come to my pumpkin
patch giveaway thing.
Come to my movie theater thing.
You can come to this and that.
And my customer service is
awesome.
And I'm warm and fuzzy.
And I give you gift cards and Igive you a handle cutco knives.
(20:42):
And I do.
And it's like this warm and like,
cool.
All that like.
You can run a really, really,really good business doing all
that.
You used to be able to.
There's been a shift, and it'sshifting really, really fast,
where you have mortgage brokerswho had $100 million, $200 million
business, who are now doing 30%,40 % of that.
And now, we're right now, thispodcast is July 2025.
So there's been a little uptick,like the spring market was delayed
(21:03):
a bit.
And so people are a little busier
now.
So everyone feels a little better
about their business than they didsix months ago or five months ago.
And so those people are like,okay, so I'm getting a little
busy.
I'm going to phone's ringing.
Okay, cool.
That's going to, the bomb's going
to drop out again.
It'll drop it again because the
banks are literally eating you,eating your lunch.
They're coming in and going, we'regoing to crush you.
(21:25):
We'll be 30, 40 basis points andall uninsured deals better than
you.
Then what do you do?
And then you're sitting heregoing, holy shit, I didn't build
up a brand on social media.
I'm not good at handling
objections.
I thought I could wordsmith my way
into scenarios by shitting onother banks, going RBC stocks,
prepayment privileges, boo.
And they're just after you.
And how goes the customer service?And they're like, yeah, I don't
care.
I'm just going to go here because
I save money.
(21:46):
The lowest interest rate beats
everything.
So that's why we started Strategy
Hub.
That's why we focused this on Team
Wiley.
It is changing the conversation
from price and product andchanging it to a strategy.
right?And finding pain points and doing
this.
And this is where a lot of the old
school brokers, and when I say oldschool, you could be someone that
(22:09):
had a business pre -COVID that didwell, that now the bottom has
fallen out.
And you might be like, no way,
right?Yeah, way.
Like all around me, I'm seeingthis.
People I've coached in the past,one -on -one, people reach out to
me and they go, yeah, I heard thatyou're absolutely right.
This is what's happening.
We're all hearing it.
And you can tell there's a bit ofsense, like it's us against the
banks.
It's like that's like that battle
is like beefing itself up.
(22:29):
And it's like, cool, if you want
to think that, but like, why don'tyou just get better at, you know,
talking about strategies anddifferent ways to plan around the
mortgage, different ways to usethe mortgage as a weapon,
different ways to think aboutmortgage planning.
And that's where you really needto go.
And that's the shift.
And a lot of the old school
brokers, the ones who've been infor a while, who've been making
(22:49):
bank and a lot of money.
By doing basic stuff and like, I
don't even do email marketing.
I don't know why I'm making all
these voices tonight, but I don'teven do email marketing and it
works.
And I still get, well, yeah,
because you have like this oldschool thing, but someone
brokering starting the last five,10 years, like now, like
especially someone even juststarting the last year or two,
like it's a different ballgame,completely different.
You have to approach it from acompletely different angle.
(23:10):
And if you're not niched out tosome degree, goodbye, good luck.
If you're going to play the rightgame with anyone, goodbye, good
luck.
I wouldn't even start.
I wouldn't even start.
I'd quickly find out what my
niches are.
You can have one or two niches.
There should be some rollover inthem.
But you don't need to be a new toCanada expert and a reverse
mortgage expert.
No correlation there for
marketing, completely differentavatars.
And there's enough reversemortgages to feed your family
millions of dollars of businessfor a long time.
(23:33):
There are enough mortgages in thefirst time home for the same,
right?So you don't need to do that, but
you need to focus on this.
I can't give you all the pieces of
the puzzle, not on this podcastand definitely not even in like
certain things in strategy.
Like it's just, this is stuff you
have to just be cognizant of earto the ground because the way of
brokering in the past and all thisrenewal, I thought there's
(23:53):
supposed to be like this goldrush.
I thought there's supposed to beall these renewals, the most
renewals ever.
Coming up in the two years.
Yeah, how many of you spun yourwheels for a long period of time?
And did it really work out?Did you actually factor in all the
calls you took, all the budgetsyou did?
If you even did that, and God, Iknow so many of you don't, which
is sad, a little bit sad.
They're not prepping your clients
(24:13):
with numbers.
How many of you got approvals with
lenders?Approval ratings, the follow
-through funding ratios are down.
Because people, like, they're
down.
I'm hearing this from, like, our
big lenders.
They're like, yeah, they're down,
man.
People I know, our options aren't
great.
They're coming to us last option.
We're getting shitier deals.
And then they're losing deals last
second at renewal time.
And that's why they're changing
(24:34):
all their guidelines andregulations around certain rates
and rates don't match and ratetracking and real -time pricing
with TD.
And it's like, if you can't see
this shift, God help you.
I don't know what to tell you.
But it's coming.
And it's here.
It's actually not coming.
It's literally here.
So the old school way of doingthings just doesn't work.
(24:55):
A lot of the old training that'sout there doesn't work.
You're just going to pay money andyou're going to like switch gears
again in six months and then be onto the next thing.
And you're out three, four or fivegrand and you wasted 60 hours of
your life.
There's certain foundational
pieces you need to have dialed inin your business without a
freaking doubt.
And I talk about it a lot on here.
I'm not going to unpack them rightnow, but that becomes your focus.
(25:17):
You need to figure out what thosefoundational pieces are in your
business.
And if you're not going to build a
brand through social media, you'regoing to be in trouble.
Right.
And so here becomes I'm just going
to touch on the social part.
And so I see a lot of content out
there, obviously, which is great.
It's come out a lot.
And I just think it's awesomebecause I love talking about the
(25:38):
social in our industry andwhatnot.
And I'm starting to see like a lotof over edited videos now.
And I'm like, that's cool.
But we also we came through a
world already.
Things shift in the social world.
And in the social world, what'salways going to shine through like
a bright star is going to be howauthentic can you be?
Think of the people you followthat you really resonate with.
Is it the ones where they're like,bam, wham, Taylor Swift's on the
(26:01):
screen and this is on the screenand that and a rocket ship's taken
off and it's edited and it'sflashing and there's B -roll.
There's like eight differentthings going on.
That's cool once in a while to doa flex there and show off a
different angle to get attention.
I appreciate that.
I actually really do.
But at the end of the day.
It's you on a camera, whateverversion you're in, sharing your
(26:23):
thoughts, really connecting, beinghonest, being authentic, being
real, just like how you helppeople, what you're doing, where
your thoughts are, showing whatyou do in your hobbies, like
giving all of that to people.
That's what's going to give you a
fighting chance is building thattype of brand, not the other brand
that looks like you're copyingsomeone else and you're trying to
figure it out and you're overediting shit.
You're trying to really hide thefact that you don't want to be on
(26:45):
camera.
you need to be comfortable on
camera.
And if not, go learn, right?
Go and train yourself.
Go and take training.
Go and figure it out.
Go to Toastmasters and get
comfortable speaking.
It'll pay off in spades.
So we're not going to shift thisanymore on that.
This was me talking to you aboutwhat I talked about at the
beginning and how just brokeragesand brokering is changing right in
front of us way faster than youthink.
And it's time to open yourfreaking eyes, kids.
Open it and just look around,smell the roses, and make sure
(27:08):
you're in the right spot becauseif not, it's on you.
It's nobody else's fault.
Okay, that's it, kids.
Enjoy the rest of your night orday or whenever you're listening
to this.
Until next time, peace out.
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