August 19, 2025 • 28 mins
In this episode, I share why brokers are losing so many deals right now, the need for mortgage brokers to adapt to changing market conditions, and the significance of understanding client pain points to be successful.
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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 whiteboard, Wiley in
the house from the Dodge Ramrecording studio with the beach.
I don't know, 100 feet from here,maybe -ish.
(00:50):
Yeah, it's one of those things Ican record in my office.
If I record there, I can go oncamera.
I could actually like get a lotmore footage.
I could turn that into snip, butI, I don't know.
I'm not as inspired recordingthere.
So like you do whatever works foryou to just get it done.
All right.
This is one of those things with
(01:10):
you.
I imagine some piece in your
business, you can be pictureperfect with it.
Or you just do what like if I'mgoing to sit there and always have
to be in front of the camera,always have to be there with my
webcam and the neon lights in theback and the right lighting to
then flip on the camera and thenget scripted out.
It's like, oh, God, it's such aproduction.
And that's just not me.
And I'm just not going to do it.
And so there's certain times I'llwait because I'm like, oh, no, I
(01:33):
want to do this.
And then it's like three weeks to
record the podcast.
Whereas if I just turn on the
camera, if I drive to the beach,get my coffee, turn on record.
I have an idea what I want to talkabout, but it's none of this, none
of this is ever, ever, everscripted, but I get it out.
I get it done.
And so this is for a lot of you,
some inspiration.
What are you doing in your
business?This isn't what the podcast is
(01:53):
about, by the way, but what areyou doing in your business that
it's like, oh, and a lot of it'sprobably just social.
It's probably your social media.
And you're like, you're trying to
be too picture perfect.
And I had this conversation with a
couple of agents the other day.
And one of my things with social
is when I'm posting on Instagram.
for instance, deciding what should
I put on as a reel and what shouldI put on as a story?
I don't enjoy social media.
(02:14):
I'm learning to like it more.
And sometimes I do enjoy it.
Other times I'm like, ah, that's
just not me.
This is so not me.
But I'm going to power through.
I'm going to keep doing it.
I'm going to stay uncomfortable.
But so I just decided because it
was like, hey, well, this is apicture of a coffee cup.
OK, that's a story.
Oh, well, this is a 30 second
(02:35):
something.
I could make 50 reels a day.
with all the things I do in a daywith mortgage brokers and whatnot.
Like seriously, and I probablyshould, but I go, oh no, if it's
going to be a reel, then I have torecord it.
Then I might edit it and put somecaptions and maybe pick a song and
then put the description inbecomes like a little more of a
production.
And then I'm like, ah, I'm just
not going to do it.
Whereas I just throw it up on a
story, but then it lives for 24hours.
(02:55):
And so I'm like, okay, that'sbetter than nothing.
But I'm like, but this should be areel.
So I'll just save it and waituntil I do a reel.
And then all of a sudden I've lostit.
I forgot what I was going to talkabout and I don't do it.
So I'm like, okay, for now on, I'mjust going to record it.
I'm going to fire it out as areel.
I'm going to share it to storyevery time.
I can always, always, always goback and delete it off the reels
if I want at some point.
But in that point in time, life
(03:15):
just moves on.
It's my own mental mindset that I
have to break through on that andjust to get more content out
there.
And so that's how I've told
myself.
And hopefully you get inspiration
from this is I'm just going torecord it.
30, 45 seconds in the moment.
Something I figured out.
Fired out as a reel.
Nothing fancy.
Shared to story.
Boom.
Bob's your uncle done.
Okay.
This podcast is brought to you byAmericano.
Oh, it's so hot.
Oh, I need a second.
(03:36):
That was, oh, geez.
Okay.
Let's get back to what we'retalking about.
Okay.
So mortgage brokering has changed
drastically.
I'm sure you've.
Figure that.
I'm talking to age and they're
like, Ryan, nothing's working.
It's not working like it used to.
And I'm like, yeah, I know that.
(03:56):
I saw this coming.
That's why we built Strategy Hub.
We saw this coming like, duh.
We think you're always going tojust carry on, carry on like
nothing.
Like the only thing that's
constant is change.
You always have to reinvent
yourself, right?And so there's a lot of agents
losing files.
Talked to one the other day.
She lost 35 this year so far.
(04:18):
35 files.
That's intense.
That is mentally draining.
That is kicking you while you'redown.
That is testing your mindset, yourresolve.
You're like, what do you do whenyour back's against the wall
situation?A lot of top brokers that had
their shit together, supposedlylosing files.
Guess what?Because it doesn't work anymore.
You're always at a 20 to 40 basispoint deficit.
So what are you doing?And so this is what I tell the
(04:42):
kids.
I always look, what do you do when
you're losing?That tells me who you are.
And when my kids are winning atsoccer and everything's great,
when mortgage brokers are crushingrefis and they're looking like
rock stars because interest ratesare low, clients are working when
they're like, ah, everyone's,yeah, it's awesome.
Yeah, it's super easy.
This job can be super easy at
times.
Winning a soccer game like my kids
(05:03):
play, I'm like, yeah, easy.
You guys are winning.
That's awesome.
You're celebrating.
Just don't be a poor sport, butyou're doing great.
Okay, awesome, easy.
What happens when you're down 4 -1
against a team you should bebeating?
What happens when you work with aclient?
What's your body language like?How are you reacting to your
teammates when they give you a badpass?
When you lose, what do you do inthe handshake line?
(05:23):
What do you say to the ref?What do you say to the coach?
How are you walking back to thebench?
If someone was watching you andthey go, is that our captain?
Are you leading with leadership?Are you holding your head high?
Are you going to push throughthis?
Are you going to learn from it?Big mistake brokers aren't doing.
Learn from it.
So same thing.
You work client for six months andthen they just leave you.
And you thought you had him.
You work for nine months to leave
(05:44):
you.
Clients you've worked with three,
four, five times in the past, andthey just leave you.
And they go, oh, I got this inshade over here.
And I'm gone.
What do you do?
I look at, I seriously, this is mesitting here because I'm seeing
this all around me.
And I'm like, so now what?
So this happened.
Fucking sucks.
Yeah, 100%.
It's kicking the nuts.
(06:04):
Boom, you're down.
Now what?
Do you go back and keep doing thesame thing?
Like, are you like, oh, I was justthat.
Okay.
And you're down for two days.
And then you're like in the dumps.
You don't want to do social now.
And you've lost all this momentum.
You can't compartmentalize it over
here and carry on and be abusiness owner.
And then you just keep doing thesame thing.
Like, do you reflect on files youlose and go, where did I lose
(06:29):
this?What could I have done better?
Was I always going to lose it?Did I?
I'm going to tell you the reasonyou're losing files.
It might not be what you think.
Might be close to what you think,
but it's probably not exactly whatyou think.
But I'm going to tell you why.
This is the question I come to.
So if you're a broker and you keeplosing files and then you jump on
another discovery call and it'sthe same old, same old script and
(06:50):
the same old, same old thing, butyou're expecting a different
outcome.
Why?
Why would it be different now?Times have changed.
Times have changed.
So here's the number one reason
you're losing deals for rate orwhatever else you're losing it
for.
I'm going to tell you right now.
And not enough people talk aboutthis.
We don't.
Giving you a cliffhanger here.
But before I do that, we're goingto, this podcast is brought to you
by Americano.
Okay, so here's the reason.
Very clear.
You have not identified a pain
(07:11):
point.
You have not identified a pain
point that hurts enough.
That is.
painful enough.
You haven't asked the right
questions to understand what theirpain point is.
There's some basic objectionhandling that you need as a
mortgage broker.
There's some basic things you need
that should roll off your chest.
I'm going to go a little sidebar
(07:33):
here.
You need to be able to tell people
on the fly on that discovery call.
This is what I want to talk about,
that discovery call.
This is what this podcast is
about, is we're going to breakdown the discovery call a bit.
(07:57):
But that discovery call, that'syour first impression most of the
time.
It's where you build that trust.
It's where you figure out wherethe client's at, what the pain is.
If you're just an order taker andyou're just going, okay, I have
access to so many lenders.
I have access to all these
lenders.
(08:17):
And it's like, yeah, yeah.
What's their pain point?Why are they going to work with
you?A, do you have a script?
And I'm going kind of all over theplace here.
I'll bring this back.
Do you know what, like if someone
asks you, what does a mortgagebroker do?
Can you say that with confidenceexactly what you do and why
someone should work through?Do you know what your value adds
are?Do you know what they are?
If you don't know, if you can'tclearly articulate to me right now
in 45 seconds why I, as a client,should work with you, you should
(08:42):
stop doing everything you're doingin your business, and you should
lock yourself in a room, and youshould map out exactly why people
should work with you and be ascrystal clear as you can.
Because if you don't know that,That's going to come through.
The clients aren't going to like,then what are you bringing to the
table?Is it you're a nice guy or a nice
girl?Like, why the fuck is someone
going to work with you?If you don't have this figured
(09:05):
out, this should be your numberone, two, three thing you do on
your to -do list.
And practice what you're going to
say.
what you're going to say.
You should know.
So that's besides the point.
What's your best rate?Do you have a script for that?
Do you have something that rollsoff your tongue?
Pretty close to the same thingevery time.
Someone asks you, what's mortgagebroker?
Do you have something that rollsoff your tongue?
(09:27):
Someone asks, why should I workwith you?
Something roll off your tongue.
How do you get paid?
Do you have something that rollsoff your tongue?
These are the basics you need as amortgage broker.
Some of you have them down pat,and that's awesome.
We're going to move on.
Others who are just getting in
your career, maybe first couple ofyears, first couple of months, you
(09:49):
do have this stuff.
It is soft sales skills, but it's
part of like, it pays off individends or it pays off in
spades, I guess, not dividends.
You get what I'm saying.
It pays off.
You need to have it.
It's a basic, it's one -on -one,brokering one -on -one, but it
gets skipped over and no one talksabout, no one trains it.
I guarantee you there's yourbrokerage or your team lead did
not go, hey, map out what yourvalue ads are, what actually what
you're bringing to the table.
Let's map out some scripting
(10:09):
around and let's role play throughit.
If they haven't done that, well,you've been let down.
Okay, let's do the same thing forhow you get paid.
Let's do the same thing for whatdoes a mortgage broker do?
Like all these basics.
There should be some degree of
that.
You can't just be like, yeah, I
figured it out.
Just do a bunch of calls.
Oh, sure.
Cut your teeth, bumbling your
words with potential clients.
(10:30):
Oh, that sounds great.
Great idea.
No, go role play.
Go role play with ChatGPT.
Go voice memo mode in the bottom
right corner.
Click it.
Tell it what you want to do andstart.
role -playing.
But let's go back to the other
part of the discovery call that isuber important.
I did a sidebar there where youneed to know those three, four
things to roll off your tongue.
Back to the reason you're losing
deals.
You have not asked, you have not
(10:50):
had the client tell you what theirpain point is, right?
What is the thing that if I cansolve that you will work with me?
That is the question.
I'm not going to ask it that way,
but that is the question you needto figure out.
And then you need to present yoursolution to the problem.
This is basic shit.
Have you identified a problem of
theirs?Someone comes to you and says,
(11:10):
what's your best rate?I work in a range, anywhere from
3, 7, 9, up to 6 .5%, depending onso many different situations.
So I can't really quote you aninterest rate because that's just
not fair.
I would be doing you a disservice.
What I like to do is understandyour situation, understand the
goals you want to accomplish, thepain points you have.
I'm going to put together asolution for that.
I'm going to package up with acertain strategy, with a mortgage
(11:36):
product and an interest rate,present that to you.
And that's how we come to whatyour interest rate is.
And the lowest interest ratedoesn't mean it's the best thing
for you.
And so the question I have back to
you is, what's most important toyou?
Having the lowest interest rate,having the most amount of cash
flow every month, meaning justmore money in your bank account
(12:00):
left over than what you startedwith, hanging the least amount of
interest over the life of yourmortgage, or being mortgage -free
faster.
What is the most important, Mr. or
Mrs. Client?I want them to tell me, because
that's where I'm going to go.
I'm going to go into whatever my
thing is.
Now, this just gets into how
(12:21):
brokering's changed.
If they say, I want to pay the
least amount of interest and bemortgage -free faster, I'll be
like, perfect.
Interest rate is a small piece of
that, a very small piece.
I could give you the lowest
interest rate, but if I don'tpackage it up with strategy and
the guidance, then it's just aninterest rate and you're going to
end up paying a lot.
And so then I get into part two of
(12:43):
this is I need to establish a gap.
I want to establish where they're
at now and where they want to go.
So, and you can do it in a couple
of different ways.
If they come to you and they have
like, hey, I have this 399, five-year fixed rate and I'm out for
renewal.
What do you do, Ryan?
Like, what can you do for me?Well, I need to understand the
(13:03):
pain, right?What their goal is, the pain is
the pain.
You feel like you're never paying
your mortgage off.
You can twist those things around.
What's your goal?And you can twist around the pain.
Do you feel like you're just neverpaying off?
You're not paying your mortgageoff fast enough.
Do you feel like the bank's makinga lot of money off you with all
the interest you're paying?Do you feel like?
(13:25):
your cash flow is super tightevery month?
Or do you feel like your interestrate is too high?
And if they go down the interestrate, if they say, oh, my interest
rate, that's number one priority.
Why?
Why is that the number onepriority?
What does that correlate to inyour head?
I want to understand.
Because I know the answers.
I want to hear from you, though.
This is how I talk to clients.
I want to hear, why do you thinkthe lowest interest rate, why is
(13:47):
that the most important thing toyou?
Oh, because, and usually it's justthey're wrong.
right?Oh, it comes with the lowest
payment.
Cool.
Potentially, but it doesn't.
Because if you want the lowest
payment, I can just throw yourentire mortgage in a HELOC at
interest -only payments.
That's the lowest payment.
Higher interest, lowest payment.
So the lowest interest rate does
not equal the lowest payment.
So now you've just, that myth is
gone.
Like you just shut that down.
Does that make sense to you?Oh yeah, I get it.
Having the lowest interest ratedoesn't mean paying the least
(14:09):
amount of interest.
It doesn't mean being mortgage
-free faster.
Well, why not?
Because strategy will alwaysoutperform an interest rate,
always.
Strategy with guidance, a specific
mortgage strategy for you and yourfamily with me to hold your hand
through the process will alwaysoutperform better interest rate.
Okay, so that's why I just want toremove the focus off of low
interest rate, low interest rate,low interest rate.
I want to focus it on the otherthings of paying the least amount
(14:31):
of interest and being mortgage-free faster, right?
See where I'm going with this?I'm getting jacked up with cars
all around me.
One's a police car.
One's a Tesla Central.
Is there a Tesla party going on
here?And the cops are here to
surveillance.
I'm not sure what's going on.
This podcast brought to you byAmericana.
So just gives you an idea.
So now when I find that pain
(14:52):
point, that's where I'm going togo down that path.
But I need to establish a gap now.
So I already did the math on this.
An average 25 -year mortgage.
This is the type of frameworks I
always have in my head when I'mbrokering.
Every $100 ,000 of a mortgage at a4 % interest rate on a 25 -year
(15:14):
AM, client over the life of thatmortgage is going to pay about $57
,000 of interest.
Every 100K on a 25 -year AM
mortgage of 4 % interest equalsabout $57 ,000 of interest over
the life of that mortgage.
So if I'm sitting there talking to
a client and they've got a half-million -dollar mortgage, I just
quickly in my head, I go half-million.
So that's five, five times ahundred thousand, five times 57.
(15:34):
So that's 285.
So $285 ,000 of interest.
So I need to understand the gap.
And this is if I have the
strategies, but if I don't havethe strategies, I'm kind of
fucked.
It's kind of like, well, then what
do I do?If you told me your pain point is
being mortgage free as fast ashumanly possible.
And I'm sitting here going, cool,come work with me.
(15:55):
I'm, I care a lot about you andI'll make sure you don't get put
into.
high IRD penalty situation.
And I'll make sure you're in amortgage that's portable.
Like those are like, that'sbrokering 2015.
Stop.
If that's how you're running your
business now, you got to up yourgame, man.
It's over for you.
It's over.
Or it's not over.
But it's this, if that is how you
want a broker and you don't want,you don't want to be a mortgage
(16:18):
planner and you don't want tobring strategies into play and you
want to be the regular same oldplain Jane mortgage broker that
people have been for a long time.
That's cool.
You can actually still do that andstill run a very good business.
But here's the kicker.
You're going to lose a lot of
files.
You just have to be okay with it,
right?Someone's going to come in with a
(16:40):
strategy and, and, or they're, youcan't overcome 40 basis point
premium.
With a client, they have RBC at
four and you're offering 4 .4 andit's a $600 ,000 mortgage.
That's $2 ,400 a year.
It's $200 a month.
Why are they going to work withyou for $200 a month?
For a $200 a month premium.
Why?
So now another skill set needs tojump up onto your to -do list.
You need to be good at overcomingthe objection of why should I work
(17:01):
with you and pay $200 extra amonth?
Why?What's so special about you?
You're going to put me in aportable mortgage?
You're going to not cross -sellme?
What is the thing?This is where the part is.
Somebody tell me.
Somebody message me and tell me.
Why would I work with you?And this is why you get the Ron
Butlers, the world, and the peoplewho just jam world rates down your
(17:23):
throat.
Now this is where their math works
really good.
Up against a regular mortgage
broker with that much of adeficit, yeah, the interest rate
is the most important thing.
To take that interest rate with
someone who has a strategy thatthey can put in front of you and
hold your hand, ah, well, the ratedoesn't matter anymore.
The rate matters, but it's nevergoing to outperform me and what
I'm going to do.
(17:43):
Never.
See you later.
Peace out.
Go take care.
So, right, you start to see this.
So this is the part where brokers,you guys are losing these files
because you haven't had the clienttell you their biggest pain point.
And then even when you have thepain points, how can you deliver
on solving it?So you might know what the pain
(18:03):
point is, but if you don't knowhow to solve it, well, this is
just a house of cards you'rebuilding here.
Then you're just doing videos onsocial, hoping people are going to
watch that and like your video tocome work for you and not go talk
to their bank and not understandthey can go get a lower interest
rate on their own with no licenserequired, sending one email.
(18:26):
You have 15 years of experienceand all these relationships built
up and a client.
who is on their first mortgage or
second mortgage, whatever, canjust walk in and go, yeah, I got a
better interest rate than my so-called mortgage broker who is
supposed to be awesome at allthese things and have all these
lenders they work with, right?Which is such a bunch of bullshit,
right?We work with three to five lenders
(18:47):
on average.
So please, that's once again, 2015
brokering.
So you see where I'm going here.
So now I'm establishing the gap.
Let's get back to that.
I need to do that.
So you're going to pay about $285
,000 of interest.
I have a strategy that I think
you're going to qualify for, andwe'll find out if we decide to
partner together.
But I'd like to build you a custom
(19:07):
proposal to show you what I'mtalking about.
But I'm pretty sure we can get youdown, instead of paying $285 ,000,
probably around $200 ,000, $185,000, somewhere in there.
Somewhere in the $80 ,000 to $100,000 of savings.
To you doing nothing.
You not changing your quality of
life.
There's no, I'm going to sit here,
I'm going to explain the strategyto you, and I'm going to hold your
hand through it.
I'm going to dummy proof it.
(19:27):
So you've established a gap thereof $80 ,000 to $100 ,000.
Or you've established a gap andthey say, I want to be mortgage
-free as fast as possible.
And their current path is 22
years.
And you have something that can
get them to 19 years or 15 yearsor 12 years or whatever it is.
And I go, ah, see, there's thegap.
So now when I come back and talkto you, everything is, it's not
(19:47):
always about the interest rate.
Because it's like, well, why is
the interest rate so important?I just talked to you about, like,
we talked about this.
We know that it's not, you just,
they don't know what they don'tknow.
All clients know is interest rate.
So we have to actually get in
there and explain, but have themtell us why they think, what does
the lowest interest rate mean?Why is it so important to them?
(20:10):
And if you don't get into thoseconversations and know how to
handle them, then you're alwaysdancing around the interest rate
conversation.
And it's going to end up, and this
is where a lot of you get fucked.
You work with the client for
three, four, five, seven months,and then down the road, they just
leave you.
They were always going to leave
you.
Always.
They just didn't tell you to yourface.
You were doing all this work.
(20:32):
You were always going to lose that
client.
There's a high likelihood you're
going to lose that client becauseyou didn't want to ask the
question, why?I see RBC is giving you 394 and I
have a 424.
Why do you think the 394, why do
you think that's so important?Right?
Talk to me.
Tell me.
Now I have people huddling aroundthe car.
This is awesome.
No distractions here at all.
People looking in the car.
I've got like eight people running
around the car saying all theirhighs and hellos.
Trying to do a podcast here, kids.
(20:53):
Jesus, killing me here.
Killing my podcast vibe.
I have to stare at these guys.
Now they're taking their shirtsoff.
Oh, awesome.
Cool.
Bunch of 50 -year -old men takingtheir shirts off.
Okay, I'm going to move.
This isn't my jam anymore.
And it's getting busy.
I think there's some sort of club
here hanging out, exercise club orsomething.
So I got to peace out.
We're changing our location on the
fly.
That's what we do.
That's how we can roll, right, inthese low -budget podcasts.
(21:13):
We can take the studio.
We can move it.
How about that?Can anyone else do that?
Yeah, we're moving.
That's just what we're doing.
So that's the number one reasonI'm seeing people get crushed on
discovery calls left, right, andcenter.
They're not getting crushed onuninsured files, even insured
files.
But there's less strategies you
can implement on insured stuff,and we still have more options
with monolines and whatnot outthere.
(21:34):
depending on the time of day andwhatnot.
This is the thing like so and youmight not have these strategies.
I'm not even telling you to golearn the strategies.
But what I'm telling you to do isthen you need to figure out the
pain point is.
And if you're always if they tell
you the pain is this and you justcan't solve it, well, then you
(21:56):
should have to you should make ajudgment call.
They've told me what their painis.
Their pain is they want maximumcash flow every month, meaning
they want the lowest payment everymonth.
but they don't want to go into aHELOC interest only because that's
just crazy nut bar.
They want their current regular
plain Jane mortgage just with thelowest payment possible.
And there's no debt console optionthere.
(22:16):
So now what do you do?If they told me that's what they
want, what do you do?Well, if you don't have the
ability to overcome that, solvethat pain, then do you still move
forward with an application?Do you still like, were you always
going to lose it?These are things you have to like
talk about and think about.
So the better you get up front
with having them tell you theirproblem is aligned with solutions
(22:37):
you have, ah, now you're gettingsomewhere.
Now you're standing out.
Now you actually have something to
play with, something to work with.
You can keep coming back to the
situation.
Boom, Nether Beach.
That's Kelowna.
Amazing.
New beach.
That quickly.
Yes.
Nobody.
Here we go.
No old dudes stripping down to go
run in the lake.
(22:58):
There we go.
Better.
So this is what I want to talk
about today because it's soimportant because I see a lot of
you, you're just dropping the ballin the discovery call.
You've got those basic things thatyou need to have, which we already
talked about.
What's your best rate?
What does a mortgage broker do?How do you get paid?
And what are your value adds?Nobody's going to ask you what are
your value adds.
That's just a term that gets
thrown around in our industry waytoo easily.
(23:19):
Add value, add value, add value.
Especially when you go to Facebook
groups, it's like, hey, I lostthis coin.
Just add value.
What does that mean?
I know what it means.
Solve their problem.
They came to you, them needing amortgage is probably not their
problem, unless they can't get amortgage somewhere.
If they've been turned down by thebank and their BFS and it's a
(23:39):
mess, sure, now that's the problemyou solve.
That right in itself, that's yourstrategy.
I help.
People who can't get a traditional
mortgage get a mortgage.
Or I help you qualify for more
money than you currently do.
That might be their problem.
My bank told me or my mortgagebroker told me I can only buy a
$500 ,000 home, but I feel like Ishould be able to buy more.
Yeah, I can get you qualified for$550 ,000 or $575 ,000.
(24:04):
That's the problem that you'resolving.
And then that's what you lean intothroughout your journey of closing
that client.
Hey, so we're going to get you
mortgage -free faster.
And then if you want to take it
another level, step above.
And this is for the ninja people
(24:24):
out there.
This is what you do.
So if you tell me, hey, I want tobe mortgage -free faster.
My next question after that iswhy?
What does that mean to you?If you're currently on path for 22
years, if you were mortgage -freefaster in 15 years, that's an
extra seven years.
What would that mean?
I want to know.
Oh, that means I wouldn't have to.
I could retire maybe two, threeyears early.
Cool.
And what would that mean?
What are you going to do at thetime?
(24:45):
Like, I'm curious.
I'm going to go.
I had these conversations with myclients.
That's why they just come to mytop of my head.
I'm going to go hang out with mygrandkids in Florida.
I'll go be more polite down.
That's what I want to do.
That's what we want to do.
Awesome.
Cool.
So now we call this Operation C
Grandkids in Florida.
(25:05):
So now every email that you get
from me is about the pain pointI'm solving, but the outcome,
which is.
see grandkids in Florida.
It's not application documentsrequired.
It is, I want to stand out in theinbox.
I want to always keep us centeredon what we're doing, why we are
doing this together.
What am I bringing to the table as
a mortgage broker that you'regoing to trust, and I'm going to
(25:29):
take you to whatever the promisedland is and solve that problem.
Your problem is mortgage -freefaster.
The outcome you want is see yourgrandkids in Florida.
So operation, see grandkids inFlorida.
That's my subject line.
when I'm communicating with you.
Boom.
Dash, documents required.
Dash, update.
Dash, lawyer info.
Dash, right?I'm keeping the eye on the prize
for everybody.
There should be some aha moments
there.
Should be taking notes.
I know people that haveimplemented all this.
I've talked about it for a while.
(25:50):
And they're like, yep, that
worked.
I got the clients actually
responded back with the documentsI needed finally.
Because it wasn't just documents Ineeded.
Right?So, went all full circle around
here.
I know a lot of you are
struggling.
You're struggling on those calls.
You really don't have a structureto call.
You're struggling on how you standout.
That's what you need to figure outright now.
(26:11):
Everything else, just going andmaking videos and like on social
and hoping there's a...
You're building a house of cards.
It's going to fall apart if youdon't have the foundational piece
of what you truly bring to thetable as a mortgage broker, the
people you help.
What's the outcome for them?
And you truly believe that you doall this.
That's where you build somethingthat nobody can take away.
And that's where you build a verysustainable business model.
Okay.
So it's a look in the mirror time
(26:32):
for a lot of you.
And that's what we're doing.
Okay.
That's it, kids.
Hopefully you got something fromthat.
Message me on Instagram if you hadquestions about this.
That's it.
Enjoy the rest of your weekend.
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 whiteboard, Wiley in
the house from the Dodge Ramrecording studio with the beach.
I don't know, 100 feet from here,maybe -ish.
(00:50):
Yeah, it's one of those things Ican record in my office.
If I record there, I can go oncamera.
I could actually like get a lotmore footage.
I could turn that into snip, butI, I don't know.
I'm not as inspired recordingthere.
So like you do whatever works foryou to just get it done.
All right.
This is one of those things with
(01:10):
you.
I imagine some piece in your
business, you can be pictureperfect with it.
Or you just do what like if I'mgoing to sit there and always have
to be in front of the camera,always have to be there with my
webcam and the neon lights in theback and the right lighting to
then flip on the camera and thenget scripted out.
It's like, oh, God, it's such aproduction.
And that's just not me.
And I'm just not going to do it.
And so there's certain times I'llwait because I'm like, oh, no, I
(01:33):
want to do this.
And then it's like three weeks to
record the podcast.
Whereas if I just turn on the
camera, if I drive to the beach,get my coffee, turn on record.
I have an idea what I want to talkabout, but it's none of this, none
of this is ever, ever, everscripted, but I get it out.
I get it done.
And so this is for a lot of you,
some inspiration.
What are you doing in your
business?This isn't what the podcast is
(01:53):
about, by the way, but what areyou doing in your business that
it's like, oh, and a lot of it'sprobably just social.
It's probably your social media.
And you're like, you're trying to
be too picture perfect.
And I had this conversation with a
couple of agents the other day.
And one of my things with social
is when I'm posting on Instagram.
for instance, deciding what should
I put on as a reel and what shouldI put on as a story?
I don't enjoy social media.
(02:14):
I'm learning to like it more.
And sometimes I do enjoy it.
Other times I'm like, ah, that's
just not me.
This is so not me.
But I'm going to power through.
I'm going to keep doing it.
I'm going to stay uncomfortable.
But so I just decided because it
was like, hey, well, this is apicture of a coffee cup.
OK, that's a story.
Oh, well, this is a 30 second
(02:35):
something.
I could make 50 reels a day.
with all the things I do in a daywith mortgage brokers and whatnot.
Like seriously, and I probablyshould, but I go, oh no, if it's
going to be a reel, then I have torecord it.
Then I might edit it and put somecaptions and maybe pick a song and
then put the description inbecomes like a little more of a
production.
And then I'm like, ah, I'm just
not going to do it.
Whereas I just throw it up on a
story, but then it lives for 24hours.
(02:55):
And so I'm like, okay, that'sbetter than nothing.
But I'm like, but this should be areel.
So I'll just save it and waituntil I do a reel.
And then all of a sudden I've lostit.
I forgot what I was going to talkabout and I don't do it.
So I'm like, okay, for now on, I'mjust going to record it.
I'm going to fire it out as areel.
I'm going to share it to storyevery time.
I can always, always, always goback and delete it off the reels
if I want at some point.
But in that point in time, life
(03:15):
just moves on.
It's my own mental mindset that I
have to break through on that andjust to get more content out
there.
And so that's how I've told
myself.
And hopefully you get inspiration
from this is I'm just going torecord it.
30, 45 seconds in the moment.
Something I figured out.
Fired out as a reel.
Nothing fancy.
Shared to story.
Boom.
Bob's your uncle done.
Okay.
This podcast is brought to you byAmericano.
Oh, it's so hot.
Oh, I need a second.
(03:36):
That was, oh, geez.
Okay.
Let's get back to what we'retalking about.
Okay.
So mortgage brokering has changed
drastically.
I'm sure you've.
Figure that.
I'm talking to age and they're
like, Ryan, nothing's working.
It's not working like it used to.
And I'm like, yeah, I know that.
(03:56):
I saw this coming.
That's why we built Strategy Hub.
We saw this coming like, duh.
We think you're always going tojust carry on, carry on like
nothing.
Like the only thing that's
constant is change.
You always have to reinvent
yourself, right?And so there's a lot of agents
losing files.
Talked to one the other day.
She lost 35 this year so far.
(04:18):
35 files.
That's intense.
That is mentally draining.
That is kicking you while you'redown.
That is testing your mindset, yourresolve.
You're like, what do you do whenyour back's against the wall
situation?A lot of top brokers that had
their shit together, supposedlylosing files.
Guess what?Because it doesn't work anymore.
You're always at a 20 to 40 basispoint deficit.
So what are you doing?And so this is what I tell the
(04:42):
kids.
I always look, what do you do when
you're losing?That tells me who you are.
And when my kids are winning atsoccer and everything's great,
when mortgage brokers are crushingrefis and they're looking like
rock stars because interest ratesare low, clients are working when
they're like, ah, everyone's,yeah, it's awesome.
Yeah, it's super easy.
This job can be super easy at
times.
Winning a soccer game like my kids
(05:03):
play, I'm like, yeah, easy.
You guys are winning.
That's awesome.
You're celebrating.
Just don't be a poor sport, butyou're doing great.
Okay, awesome, easy.
What happens when you're down 4 -1
against a team you should bebeating?
What happens when you work with aclient?
What's your body language like?How are you reacting to your
teammates when they give you a badpass?
When you lose, what do you do inthe handshake line?
(05:23):
What do you say to the ref?What do you say to the coach?
How are you walking back to thebench?
If someone was watching you andthey go, is that our captain?
Are you leading with leadership?Are you holding your head high?
Are you going to push throughthis?
Are you going to learn from it?Big mistake brokers aren't doing.
Learn from it.
So same thing.
You work client for six months andthen they just leave you.
And you thought you had him.
You work for nine months to leave
(05:44):
you.
Clients you've worked with three,
four, five times in the past, andthey just leave you.
And they go, oh, I got this inshade over here.
And I'm gone.
What do you do?
I look at, I seriously, this is mesitting here because I'm seeing
this all around me.
And I'm like, so now what?
So this happened.
Fucking sucks.
Yeah, 100%.
It's kicking the nuts.
(06:04):
Boom, you're down.
Now what?
Do you go back and keep doing thesame thing?
Like, are you like, oh, I was justthat.
Okay.
And you're down for two days.
And then you're like in the dumps.
You don't want to do social now.
And you've lost all this momentum.
You can't compartmentalize it over
here and carry on and be abusiness owner.
And then you just keep doing thesame thing.
Like, do you reflect on files youlose and go, where did I lose
(06:29):
this?What could I have done better?
Was I always going to lose it?Did I?
I'm going to tell you the reasonyou're losing files.
It might not be what you think.
Might be close to what you think,
but it's probably not exactly whatyou think.
But I'm going to tell you why.
This is the question I come to.
So if you're a broker and you keeplosing files and then you jump on
another discovery call and it'sthe same old, same old script and
(06:50):
the same old, same old thing, butyou're expecting a different
outcome.
Why?
Why would it be different now?Times have changed.
Times have changed.
So here's the number one reason
you're losing deals for rate orwhatever else you're losing it
for.
I'm going to tell you right now.
And not enough people talk aboutthis.
We don't.
Giving you a cliffhanger here.
But before I do that, we're goingto, this podcast is brought to you
by Americano.
Okay, so here's the reason.
Very clear.
You have not identified a pain
(07:11):
point.
You have not identified a pain
point that hurts enough.
That is.
painful enough.
You haven't asked the right
questions to understand what theirpain point is.
There's some basic objectionhandling that you need as a
mortgage broker.
There's some basic things you need
that should roll off your chest.
I'm going to go a little sidebar
(07:33):
here.
You need to be able to tell people
on the fly on that discovery call.
This is what I want to talk about,
that discovery call.
This is what this podcast is
about, is we're going to breakdown the discovery call a bit.
(07:57):
But that discovery call, that'syour first impression most of the
time.
It's where you build that trust.
It's where you figure out wherethe client's at, what the pain is.
If you're just an order taker andyou're just going, okay, I have
access to so many lenders.
I have access to all these
lenders.
(08:17):
And it's like, yeah, yeah.
What's their pain point?Why are they going to work with
you?A, do you have a script?
And I'm going kind of all over theplace here.
I'll bring this back.
Do you know what, like if someone
asks you, what does a mortgagebroker do?
Can you say that with confidenceexactly what you do and why
someone should work through?Do you know what your value adds
are?Do you know what they are?
If you don't know, if you can'tclearly articulate to me right now
in 45 seconds why I, as a client,should work with you, you should
(08:42):
stop doing everything you're doingin your business, and you should
lock yourself in a room, and youshould map out exactly why people
should work with you and be ascrystal clear as you can.
Because if you don't know that,That's going to come through.
The clients aren't going to like,then what are you bringing to the
table?Is it you're a nice guy or a nice
girl?Like, why the fuck is someone
going to work with you?If you don't have this figured
(09:05):
out, this should be your numberone, two, three thing you do on
your to -do list.
And practice what you're going to
say.
what you're going to say.
You should know.
So that's besides the point.
What's your best rate?Do you have a script for that?
Do you have something that rollsoff your tongue?
Pretty close to the same thingevery time.
Someone asks you, what's mortgagebroker?
Do you have something that rollsoff your tongue?
(09:27):
Someone asks, why should I workwith you?
Something roll off your tongue.
How do you get paid?
Do you have something that rollsoff your tongue?
These are the basics you need as amortgage broker.
Some of you have them down pat,and that's awesome.
We're going to move on.
Others who are just getting in
your career, maybe first couple ofyears, first couple of months, you
(09:49):
do have this stuff.
It is soft sales skills, but it's
part of like, it pays off individends or it pays off in
spades, I guess, not dividends.
You get what I'm saying.
It pays off.
You need to have it.
It's a basic, it's one -on -one,brokering one -on -one, but it
gets skipped over and no one talksabout, no one trains it.
I guarantee you there's yourbrokerage or your team lead did
not go, hey, map out what yourvalue ads are, what actually what
you're bringing to the table.
Let's map out some scripting
(10:09):
around and let's role play throughit.
If they haven't done that, well,you've been let down.
Okay, let's do the same thing forhow you get paid.
Let's do the same thing for whatdoes a mortgage broker do?
Like all these basics.
There should be some degree of
that.
You can't just be like, yeah, I
figured it out.
Just do a bunch of calls.
Oh, sure.
Cut your teeth, bumbling your
words with potential clients.
(10:30):
Oh, that sounds great.
Great idea.
No, go role play.
Go role play with ChatGPT.
Go voice memo mode in the bottom
right corner.
Click it.
Tell it what you want to do andstart.
role -playing.
But let's go back to the other
part of the discovery call that isuber important.
I did a sidebar there where youneed to know those three, four
things to roll off your tongue.
Back to the reason you're losing
deals.
You have not asked, you have not
(10:50):
had the client tell you what theirpain point is, right?
What is the thing that if I cansolve that you will work with me?
That is the question.
I'm not going to ask it that way,
but that is the question you needto figure out.
And then you need to present yoursolution to the problem.
This is basic shit.
Have you identified a problem of
theirs?Someone comes to you and says,
(11:10):
what's your best rate?I work in a range, anywhere from
3, 7, 9, up to 6 .5%, depending onso many different situations.
So I can't really quote you aninterest rate because that's just
not fair.
I would be doing you a disservice.
What I like to do is understandyour situation, understand the
goals you want to accomplish, thepain points you have.
I'm going to put together asolution for that.
I'm going to package up with acertain strategy, with a mortgage
(11:36):
product and an interest rate,present that to you.
And that's how we come to whatyour interest rate is.
And the lowest interest ratedoesn't mean it's the best thing
for you.
And so the question I have back to
you is, what's most important toyou?
Having the lowest interest rate,having the most amount of cash
flow every month, meaning justmore money in your bank account
(12:00):
left over than what you startedwith, hanging the least amount of
interest over the life of yourmortgage, or being mortgage -free
faster.
What is the most important, Mr. or
Mrs. Client?I want them to tell me, because
that's where I'm going to go.
I'm going to go into whatever my
thing is.
Now, this just gets into how
(12:21):
brokering's changed.
If they say, I want to pay the
least amount of interest and bemortgage -free faster, I'll be
like, perfect.
Interest rate is a small piece of
that, a very small piece.
I could give you the lowest
interest rate, but if I don'tpackage it up with strategy and
the guidance, then it's just aninterest rate and you're going to
end up paying a lot.
And so then I get into part two of
(12:43):
this is I need to establish a gap.
I want to establish where they're
at now and where they want to go.
So, and you can do it in a couple
of different ways.
If they come to you and they have
like, hey, I have this 399, five-year fixed rate and I'm out for
renewal.
What do you do, Ryan?
Like, what can you do for me?Well, I need to understand the
(13:03):
pain, right?What their goal is, the pain is
the pain.
You feel like you're never paying
your mortgage off.
You can twist those things around.
What's your goal?And you can twist around the pain.
Do you feel like you're just neverpaying off?
You're not paying your mortgageoff fast enough.
Do you feel like the bank's makinga lot of money off you with all
the interest you're paying?Do you feel like?
(13:25):
your cash flow is super tightevery month?
Or do you feel like your interestrate is too high?
And if they go down the interestrate, if they say, oh, my interest
rate, that's number one priority.
Why?
Why is that the number onepriority?
What does that correlate to inyour head?
I want to understand.
Because I know the answers.
I want to hear from you, though.
This is how I talk to clients.
I want to hear, why do you thinkthe lowest interest rate, why is
(13:47):
that the most important thing toyou?
Oh, because, and usually it's justthey're wrong.
right?Oh, it comes with the lowest
payment.
Cool.
Potentially, but it doesn't.
Because if you want the lowest
payment, I can just throw yourentire mortgage in a HELOC at
interest -only payments.
That's the lowest payment.
Higher interest, lowest payment.
So the lowest interest rate does
not equal the lowest payment.
So now you've just, that myth is
gone.
Like you just shut that down.
Does that make sense to you?Oh yeah, I get it.
Having the lowest interest ratedoesn't mean paying the least
(14:09):
amount of interest.
It doesn't mean being mortgage
-free faster.
Well, why not?
Because strategy will alwaysoutperform an interest rate,
always.
Strategy with guidance, a specific
mortgage strategy for you and yourfamily with me to hold your hand
through the process will alwaysoutperform better interest rate.
Okay, so that's why I just want toremove the focus off of low
interest rate, low interest rate,low interest rate.
I want to focus it on the otherthings of paying the least amount
(14:31):
of interest and being mortgage-free faster, right?
See where I'm going with this?I'm getting jacked up with cars
all around me.
One's a police car.
One's a Tesla Central.
Is there a Tesla party going on
here?And the cops are here to
surveillance.
I'm not sure what's going on.
This podcast brought to you byAmericana.
So just gives you an idea.
So now when I find that pain
(14:52):
point, that's where I'm going togo down that path.
But I need to establish a gap now.
So I already did the math on this.
An average 25 -year mortgage.
This is the type of frameworks I
always have in my head when I'mbrokering.
Every $100 ,000 of a mortgage at a4 % interest rate on a 25 -year
(15:14):
AM, client over the life of thatmortgage is going to pay about $57
,000 of interest.
Every 100K on a 25 -year AM
mortgage of 4 % interest equalsabout $57 ,000 of interest over
the life of that mortgage.
So if I'm sitting there talking to
a client and they've got a half-million -dollar mortgage, I just
quickly in my head, I go half-million.
So that's five, five times ahundred thousand, five times 57.
(15:34):
So that's 285.
So $285 ,000 of interest.
So I need to understand the gap.
And this is if I have the
strategies, but if I don't havethe strategies, I'm kind of
fucked.
It's kind of like, well, then what
do I do?If you told me your pain point is
being mortgage free as fast ashumanly possible.
And I'm sitting here going, cool,come work with me.
(15:55):
I'm, I care a lot about you andI'll make sure you don't get put
into.
high IRD penalty situation.
And I'll make sure you're in amortgage that's portable.
Like those are like, that'sbrokering 2015.
Stop.
If that's how you're running your
business now, you got to up yourgame, man.
It's over for you.
It's over.
Or it's not over.
But it's this, if that is how you
want a broker and you don't want,you don't want to be a mortgage
(16:18):
planner and you don't want tobring strategies into play and you
want to be the regular same oldplain Jane mortgage broker that
people have been for a long time.
That's cool.
You can actually still do that andstill run a very good business.
But here's the kicker.
You're going to lose a lot of
files.
You just have to be okay with it,
right?Someone's going to come in with a
(16:40):
strategy and, and, or they're, youcan't overcome 40 basis point
premium.
With a client, they have RBC at
four and you're offering 4 .4 andit's a $600 ,000 mortgage.
That's $2 ,400 a year.
It's $200 a month.
Why are they going to work withyou for $200 a month?
For a $200 a month premium.
Why?
So now another skill set needs tojump up onto your to -do list.
You need to be good at overcomingthe objection of why should I work
(17:01):
with you and pay $200 extra amonth?
Why?What's so special about you?
You're going to put me in aportable mortgage?
You're going to not cross -sellme?
What is the thing?This is where the part is.
Somebody tell me.
Somebody message me and tell me.
Why would I work with you?And this is why you get the Ron
Butlers, the world, and the peoplewho just jam world rates down your
(17:23):
throat.
Now this is where their math works
really good.
Up against a regular mortgage
broker with that much of adeficit, yeah, the interest rate
is the most important thing.
To take that interest rate with
someone who has a strategy thatthey can put in front of you and
hold your hand, ah, well, the ratedoesn't matter anymore.
The rate matters, but it's nevergoing to outperform me and what
I'm going to do.
(17:43):
Never.
See you later.
Peace out.
Go take care.
So, right, you start to see this.
So this is the part where brokers,you guys are losing these files
because you haven't had the clienttell you their biggest pain point.
And then even when you have thepain points, how can you deliver
on solving it?So you might know what the pain
(18:03):
point is, but if you don't knowhow to solve it, well, this is
just a house of cards you'rebuilding here.
Then you're just doing videos onsocial, hoping people are going to
watch that and like your video tocome work for you and not go talk
to their bank and not understandthey can go get a lower interest
rate on their own with no licenserequired, sending one email.
(18:26):
You have 15 years of experienceand all these relationships built
up and a client.
who is on their first mortgage or
second mortgage, whatever, canjust walk in and go, yeah, I got a
better interest rate than my so-called mortgage broker who is
supposed to be awesome at allthese things and have all these
lenders they work with, right?Which is such a bunch of bullshit,
right?We work with three to five lenders
(18:47):
on average.
So please, that's once again, 2015
brokering.
So you see where I'm going here.
So now I'm establishing the gap.
Let's get back to that.
I need to do that.
So you're going to pay about $285
,000 of interest.
I have a strategy that I think
you're going to qualify for, andwe'll find out if we decide to
partner together.
But I'd like to build you a custom
(19:07):
proposal to show you what I'mtalking about.
But I'm pretty sure we can get youdown, instead of paying $285 ,000,
probably around $200 ,000, $185,000, somewhere in there.
Somewhere in the $80 ,000 to $100,000 of savings.
To you doing nothing.
You not changing your quality of
life.
There's no, I'm going to sit here,
I'm going to explain the strategyto you, and I'm going to hold your
hand through it.
I'm going to dummy proof it.
(19:27):
So you've established a gap thereof $80 ,000 to $100 ,000.
Or you've established a gap andthey say, I want to be mortgage
-free as fast as possible.
And their current path is 22
years.
And you have something that can
get them to 19 years or 15 yearsor 12 years or whatever it is.
And I go, ah, see, there's thegap.
So now when I come back and talkto you, everything is, it's not
(19:47):
always about the interest rate.
Because it's like, well, why is
the interest rate so important?I just talked to you about, like,
we talked about this.
We know that it's not, you just,
they don't know what they don'tknow.
All clients know is interest rate.
So we have to actually get in
there and explain, but have themtell us why they think, what does
the lowest interest rate mean?Why is it so important to them?
(20:10):
And if you don't get into thoseconversations and know how to
handle them, then you're alwaysdancing around the interest rate
conversation.
And it's going to end up, and this
is where a lot of you get fucked.
You work with the client for
three, four, five, seven months,and then down the road, they just
leave you.
They were always going to leave
you.
Always.
They just didn't tell you to yourface.
You were doing all this work.
(20:32):
You were always going to lose that
client.
There's a high likelihood you're
going to lose that client becauseyou didn't want to ask the
question, why?I see RBC is giving you 394 and I
have a 424.
Why do you think the 394, why do
you think that's so important?Right?
Talk to me.
Tell me.
Now I have people huddling aroundthe car.
This is awesome.
No distractions here at all.
People looking in the car.
I've got like eight people running
around the car saying all theirhighs and hellos.
Trying to do a podcast here, kids.
(20:53):
Jesus, killing me here.
Killing my podcast vibe.
I have to stare at these guys.
Now they're taking their shirtsoff.
Oh, awesome.
Cool.
Bunch of 50 -year -old men takingtheir shirts off.
Okay, I'm going to move.
This isn't my jam anymore.
And it's getting busy.
I think there's some sort of club
here hanging out, exercise club orsomething.
So I got to peace out.
We're changing our location on the
fly.
That's what we do.
That's how we can roll, right, inthese low -budget podcasts.
(21:13):
We can take the studio.
We can move it.
How about that?Can anyone else do that?
Yeah, we're moving.
That's just what we're doing.
So that's the number one reasonI'm seeing people get crushed on
discovery calls left, right, andcenter.
They're not getting crushed onuninsured files, even insured
files.
But there's less strategies you
can implement on insured stuff,and we still have more options
with monolines and whatnot outthere.
(21:34):
depending on the time of day andwhatnot.
This is the thing like so and youmight not have these strategies.
I'm not even telling you to golearn the strategies.
But what I'm telling you to do isthen you need to figure out the
pain point is.
And if you're always if they tell
you the pain is this and you justcan't solve it, well, then you
(21:56):
should have to you should make ajudgment call.
They've told me what their painis.
Their pain is they want maximumcash flow every month, meaning
they want the lowest payment everymonth.
but they don't want to go into aHELOC interest only because that's
just crazy nut bar.
They want their current regular
plain Jane mortgage just with thelowest payment possible.
And there's no debt console optionthere.
(22:16):
So now what do you do?If they told me that's what they
want, what do you do?Well, if you don't have the
ability to overcome that, solvethat pain, then do you still move
forward with an application?Do you still like, were you always
going to lose it?These are things you have to like
talk about and think about.
So the better you get up front
with having them tell you theirproblem is aligned with solutions
(22:37):
you have, ah, now you're gettingsomewhere.
Now you're standing out.
Now you actually have something to
play with, something to work with.
You can keep coming back to the
situation.
Boom, Nether Beach.
That's Kelowna.
Amazing.
New beach.
That quickly.
Yes.
Nobody.
Here we go.
No old dudes stripping down to go
run in the lake.
(22:58):
There we go.
Better.
So this is what I want to talk
about today because it's soimportant because I see a lot of
you, you're just dropping the ballin the discovery call.
You've got those basic things thatyou need to have, which we already
talked about.
What's your best rate?
What does a mortgage broker do?How do you get paid?
And what are your value adds?Nobody's going to ask you what are
your value adds.
That's just a term that gets
thrown around in our industry waytoo easily.
(23:19):
Add value, add value, add value.
Especially when you go to Facebook
groups, it's like, hey, I lostthis coin.
Just add value.
What does that mean?
I know what it means.
Solve their problem.
They came to you, them needing amortgage is probably not their
problem, unless they can't get amortgage somewhere.
If they've been turned down by thebank and their BFS and it's a
(23:39):
mess, sure, now that's the problemyou solve.
That right in itself, that's yourstrategy.
I help.
People who can't get a traditional
mortgage get a mortgage.
Or I help you qualify for more
money than you currently do.
That might be their problem.
My bank told me or my mortgagebroker told me I can only buy a
$500 ,000 home, but I feel like Ishould be able to buy more.
Yeah, I can get you qualified for$550 ,000 or $575 ,000.
(24:04):
That's the problem that you'resolving.
And then that's what you lean intothroughout your journey of closing
that client.
Hey, so we're going to get you
mortgage -free faster.
And then if you want to take it
another level, step above.
And this is for the ninja people
(24:24):
out there.
This is what you do.
So if you tell me, hey, I want tobe mortgage -free faster.
My next question after that iswhy?
What does that mean to you?If you're currently on path for 22
years, if you were mortgage -freefaster in 15 years, that's an
extra seven years.
What would that mean?
I want to know.
Oh, that means I wouldn't have to.
I could retire maybe two, threeyears early.
Cool.
And what would that mean?
What are you going to do at thetime?
(24:45):
Like, I'm curious.
I'm going to go.
I had these conversations with myclients.
That's why they just come to mytop of my head.
I'm going to go hang out with mygrandkids in Florida.
I'll go be more polite down.
That's what I want to do.
That's what we want to do.
Awesome.
Cool.
So now we call this Operation C
Grandkids in Florida.
(25:05):
So now every email that you get
from me is about the pain pointI'm solving, but the outcome,
which is.
see grandkids in Florida.
It's not application documentsrequired.
It is, I want to stand out in theinbox.
I want to always keep us centeredon what we're doing, why we are
doing this together.
What am I bringing to the table as
a mortgage broker that you'regoing to trust, and I'm going to
(25:29):
take you to whatever the promisedland is and solve that problem.
Your problem is mortgage -freefaster.
The outcome you want is see yourgrandkids in Florida.
So operation, see grandkids inFlorida.
That's my subject line.
when I'm communicating with you.
Boom.
Dash, documents required.
Dash, update.
Dash, lawyer info.
Dash, right?I'm keeping the eye on the prize
for everybody.
There should be some aha moments
there.
Should be taking notes.
I know people that haveimplemented all this.
I've talked about it for a while.
(25:50):
And they're like, yep, that
worked.
I got the clients actually
responded back with the documentsI needed finally.
Because it wasn't just documents Ineeded.
Right?So, went all full circle around
here.
I know a lot of you are
struggling.
You're struggling on those calls.
You really don't have a structureto call.
You're struggling on how you standout.
That's what you need to figure outright now.
(26:11):
Everything else, just going andmaking videos and like on social
and hoping there's a...
You're building a house of cards.
It's going to fall apart if youdon't have the foundational piece
of what you truly bring to thetable as a mortgage broker, the
people you help.
What's the outcome for them?
And you truly believe that you doall this.
That's where you build somethingthat nobody can take away.
And that's where you build a verysustainable business model.
Okay.
So it's a look in the mirror time
(26:32):
for a lot of you.
And that's what we're doing.
Okay.
That's it, kids.
Hopefully you got something fromthat.
Message me on Instagram if you hadquestions about this.
That's it.
Enjoy the rest of your weekend.
Peace out.
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