253: This Industry is a Gong Show!

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Welcome to the mortgage game.

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I truly, truly believe that

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building a mortgage business, a
successful one, is like playing a

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game.

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There's winners, there's losers,

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there's certain things you try.

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Some of us are playing checkers

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while others are playing chess.

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I've had the ability to coach and

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mentor hundreds of mortgage
brokers.

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I myself built a very nice
business.

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So now I want to distill all that
information, all the things I've

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learned from that and bring it
directly to you in a simple to

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understand way.

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I hope you enjoy.

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All right.

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Welcome to Mortgage Game Podcast.

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West Coast Wiley here coming to
you live podcast west coast why

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we're here coming to you live back
off camera man technical

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difficulties so that's okay it was
like you wait until you get the

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perfect setup and then you get the
perfect thing where it can hold

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the camera inside the truck to
film you so you get some content

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you can repurpose it and then
that's like a day or two days and

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then you talk or you just do the
podcast audio style old school

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like we have for hundreds of these
and then you talk or you to, just

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do the podcast, audio style, old
school, like we have for hundreds

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of these, fire it off, live to
fight another day.

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That's where I always go.

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I go, as soon as we start getting

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too much into something, we go,
let's get out.

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Because if I make this podcast or
not, it's not going to move the

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needle.

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But if I don't do it, I start

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losing on, hey, the weekly podcast
coming out.

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And so we just stick at it, much
like everything.

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And you should in your business.

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So this week's podcast, oh, man,

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there's so much going on.

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It's one thing, right?

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I talk with us a lot.

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Like, you are the brand of your

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company.

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You are the negative energy you

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put out there, the negative
conversations you have.

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People, right or wrong, if you
were right or wrong, they just see

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it as negative.

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And I see a lot of negativity with

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mortgage brokers shitting on
lenders, shitting on the branches,

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the banks, the big bad evil,
putting people down instead of

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looking in the mirror and leveling
up your own game.

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And so we're in a unique situation
here.

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This comes around in cycles.

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For those who haven't been in this

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game long enough, this comes in
cycles.

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The cycles are you're going to get
your ass handed to you by the

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banks and the branches, even
banks.

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If you're with Scotiabank, the
branch is going to beat you in a

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lot of deals.

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Same with TD.

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And you can't be like, I don't
understand.

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I thought we were on the same
team.

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Well, no, because they pay their
internal banking team, I don't

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know, 20, 30, 40 basis points.

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They pay you 100, 127 with volume

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bonus on President's Club, even
higher with efficiency bonus, like

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whatever those numbers are.

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So yeah, they can give lower rates

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in the branch.

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It doesn't make sense.

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No. But I'll tell you this,
nothing about the mortgage

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industry makes sense.

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The quicker you come to terms with

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that, the better off you'll be.

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I've known this for 10 plus years.

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I've been in this game for 15.

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This industry, it's backwards.

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It is so unsophisticated.

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It is so behind the times.

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It's so behind the times of the
US.

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It's so behind the times for other
industries.

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My wife, Jen, came in from
executive recruitment, working

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with C-level executives.

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And this isn't what the podcast is

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about, by the way, but we are
going to talk about some things.

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But she came into this world and
dealing with polished people and

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polished businesses, financial,
you know, consumer packaged goods,

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financial services, HR, and it's
like all buttoned up and the

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process is do, do, do, do, do.

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And then she came in here and

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started working.

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She's like, Ryan, this is a shit

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show.

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I'm like, yeah, I know.

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She's like, the lenders live in a
gray area and come out of left

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field and ask you for something.

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The you're clients, battling

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against the branch level plus
Scotia or TD with your BDM against

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BRM, the branch.

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And it's internal.

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They have internal struggles.

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And then the software's nothing

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talking over here.

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Regulations are changed.

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She's like, this is a gong show.

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I'm like, yeah, I know.

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I go, but guess what?
If it wasn't such a shit show, a

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large percentage of mortgage
brokers would be out of work

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because it would be so dialed in,
they wouldn't need us.

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And so I want you to think about
that for a second.

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Yeah, it's frustrating.

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It's a very stressful career.

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But we also can work from wherever
you want, make as much money as

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you want.

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Now you just have to work harder

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for it.

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Oh, poor baby, you have to work

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hard now.

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Oh, muffin, right?

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So I always tell my kids, oh,
muffin, that's too bad.

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Why don't we like put our nose
down and dig in?

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I know $100 million producers that
are doing $20 million a year now.

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You know why?
Because they're not evolving.

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And they got caught and they got
lazy.

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And so a lot of you are getting
crushed.

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And we used to get beat by 5, 10
basis points, 15.

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Now you're getting beat by 20, 30,
40, 50, 60.

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And here's the problem.

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It's a problem with our industry,

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but it's also a problem with you.

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And you need to look in the

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freaking mirror.

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And yeah, I got a little energy

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right now.

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Okay.

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I'm coming at you because I'm
seeing I'm not this.

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chiming in on any place because
I'm building I got a shit.

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little energy right I'm now.

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coming Okay.

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at you because I'm seeing I'm not
this.

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chiming in on any place because
I'm building shit.

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I got stuff I'm building that's
going to be fricking spectacular.

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I don't have time to chime.

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That's why I do it here.

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It's a one to many.

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If I'm going into Facebook groups

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and texts, I'm talking people off
to, ah, it's not best use of my

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time.

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That's not what I'm put on the

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planet for.

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I'm putting the planet to lead

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people, to make people's
businesses better.

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And I can't do that like that.

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So that's why I'm doing it like

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this.

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And so you're getting crushed.

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You're getting crushed because
you're reacting to stuff.

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What I mean by that is this.

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This is absolutely any of you.

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I don't care how well you think
your business is.

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If you're that arrogant that you
think your business is so

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phenomenal, well you think your
business is.

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If you're that arrogant that you
think your business is so

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phenomenal, oh, wow, hey, like
maybe you're a one-off.

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I mean, like, good for you.

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But I'm like, I'd love like shave

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off a slice of that for the rest
of us.

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It's not the case.

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Everyone's getting destroyed in

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one way or another.

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And if it's not getting destroyed

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volume-wise, it's getting
destroyed quality of life and

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time-wise.

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The time it takes to put in the

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energy, the stress, the less
you're present for the rest of

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your life.

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You're not a mortgage broker.

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You weren't put here to be a
mortgage broker.

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It's not going to be written on
your tombstone.

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Ryan Wiley, mortgage broker.

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No, that's not.

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Father, husband, right?
It's going to be that.

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And so I need to know that's my
number one.

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I need to make sure that's taken
care of.

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I need to know I'm there.

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Then I build a business around it.

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A lot of you are reacting.

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You are reacting.

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You are dealing with renewals.

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If you're looking for a renewal

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business, that's like the door you
go knocking on.

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Be careful who answers the door.

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If you just go around looking for

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it, if you find trouble in any
city, any city in the world, like,

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ah, there's no trouble here.

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It looks good.

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No, you, if you want to go find
it, you can't.

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If you're a biker, Hells Angels,
and you go into a city and you put

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that energy out, you're going to
find trouble.

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I don't know why I picked Hells
Angels, but I did.

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Okay.

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You're going to find that.

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And so a lot of you are looking
for that energy.

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You're looking for the renewal
energy.

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And so you get that back and guess
what?

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Ah, now you're having the calls.

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And now guess what?

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Your client's coming in.

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Now you're talking price and

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product.

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You're trying to cut down the

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lender they're with.

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And you're trying to like say,

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well, you shouldn't go there.

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You should come over with me.

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And a lot of you are living old
school where you're thinking your

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best awesome customer service is
going to build your business.

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Back in the day, and I'm talking
like three, four, five years ago,

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10 years ago, you could build a
very, very nice business with

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great customer service.

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Now, someone's going to wipe the

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floor with you at some point.

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It's a matter of time before you

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have to up your game.

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And unfortunately, not a lot of

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you are.

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So if you're always reacting and

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you're dealing with renewals, I
know if I'm looking for renewal

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business, I know that the type of
energy that's coming to me means

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they're going to be an offer is
going to be made to them.

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Okay.

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Hear me out.

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An offer might've already been
made.

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An offer's coming through an
online portal, through a phone

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call, through, and we get the
discharge papers.

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They have to talk to them.

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An offer is going to be made.

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So you're in competition for the
renewal with teams that are trying

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to keep them.

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And you've got like all these

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people trying to keep this person.

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Then when you go in for purchases

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and if you say, hey, I'm looking
for purchase business and blah,

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blah, blah.

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Perfect.

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You go down that path.

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They're going to talk to their

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bank at some point.

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Like I think we're at that stage

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now where everyone knows they're
going to talk to the bank or

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they're talking online to
somebody.

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So you're in competition.

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So you're always reacting, right?

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And you're always going up against
people.

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And if you don't have your value
ads, a lot of you just aren't

255
00:08:08,919 --> 00:08:10,522
really good on your soft sales
skills.

256
00:08:10,522 --> 00:08:12,544
And you can't even understand in
30 seconds or articulate what your

257
00:08:12,544 --> 00:08:13,235
value ads are.

258
00:08:13,235 --> 00:08:15,057
And it's not that I'm here and I

259
00:08:15,057 --> 00:08:18,216
pick up the phone and I'm this and
I'm a good person and I send

260
00:08:18,198 --> 00:08:19,343
regular emails and stay in touch.

261
00:08:19,243 --> 00:08:19,924
Like, sure, that's okay.

262
00:08:19,924 --> 00:08:21,955
But is that going to justify a 40
basis point difference?

263
00:08:21,955 --> 00:08:22,347
Is it?
Tell me.

264
00:08:22,347 --> 00:08:24,485
Do you think it is you're lying to
yourself?

265
00:08:24,485 --> 00:08:26,510
It's not going to happen.

266
00:08:26,510 --> 00:08:29,040
So you're playing in a reactive

267
00:08:29,040 --> 00:08:29,340
world.

268
00:08:29,340 --> 00:08:31,080
And so there's a saying that is

269
00:08:31,080 --> 00:08:32,340
don't hate the player, hate the
game.

270
00:08:32,340 --> 00:08:35,028
You're playing a game right now
and you're hating the player, the

271
00:08:34,928 --> 00:08:37,774
players, the bank and the branch
and the people who are beating

272
00:08:37,774 --> 00:08:38,087
you.

273
00:08:38,087 --> 00:08:39,577
And you're hating and you're

274
00:08:39,577 --> 00:08:40,361
shitting on them.

275
00:08:40,361 --> 00:08:41,693
You're like, ah, it's like, no,

276
00:08:41,693 --> 00:08:42,871
look in the mirror.

277
00:08:42,871 --> 00:08:44,439
Come on, look in the mirror.

278
00:08:44,439 --> 00:08:45,380
It's the game.

279
00:08:45,380 --> 00:08:47,620
You have to change the game.

280
00:08:47,620 --> 00:08:51,800
So if I'm always looking for the
people who are always going to be

281
00:08:51,800 --> 00:08:54,950
having offers put up against them,
this is a time and place where you

282
00:08:54,950 --> 00:08:56,840
have to think outside the box.

283
00:08:57,500 --> 00:08:58,713
You have to think differently.

284
00:08:58,713 --> 00:09:01,205
You have to get away from price
and product.

285
00:09:01,205 --> 00:09:02,931
You have to work on refinances.

286
00:09:02,931 --> 00:09:04,306
And yeah, what do you do?

287
00:09:04,306 --> 00:09:04,887
You're restructuring debt.

288
00:09:04,887 --> 00:09:06,209
You're coming up with different

289
00:09:06,309 --> 00:09:08,133
scenarios, showing people how to
restructure their debt and why

290
00:09:08,133 --> 00:09:08,920
they should do it.

291
00:09:09,260 --> 00:09:10,294
Is it to build growth?

292
00:09:10,294 --> 00:09:12,492
Is it for debt consolidation?
Is it to buy investment

293
00:09:12,392 --> 00:09:14,234
properties?
Is it to top up their RSPs?

294
00:09:14,234 --> 00:09:16,878
Is it to take tax advantages?
You should have these strategies.

295
00:09:16,878 --> 00:09:17,724
You should understand them.

296
00:09:17,724 --> 00:09:19,628
Or you can just keep going into it

297
00:09:19,628 --> 00:09:22,138
and being really nice on the phone
and making buddy-buddy with them

298
00:09:22,110 --> 00:09:22,972
and thinking, this is all good.

299
00:09:22,972 --> 00:09:23,576
They're sending the application

300
00:09:23,576 --> 00:09:23,878
in.

301
00:09:23,878 --> 00:09:24,338
We get down.

302
00:09:24,338 --> 00:09:30,247
You're like, just skipping down
the road.

303
00:09:30,216 --> 00:09:31,568
I think Wizard of Oz, I'm dating
myself there.

304
00:09:31,568 --> 00:09:32,978
Off to see the wonderful Wizard of
Oz.

305
00:09:32,878 --> 00:09:36,484
And then they're like, yeah, we're
not going to do, we got to offer a

306
00:09:36,483 --> 00:09:37,704
cashback in Avion points.

307
00:09:37,704 --> 00:09:39,203
And you're like, son of a bitch.

308
00:09:39,303 --> 00:09:39,591
Right?
This is happening.

309
00:09:39,591 --> 00:09:41,163
And then what do you revert back
to?

310
00:09:41,163 --> 00:09:44,319
Oh, well, yeah, but they're
compounded daily or monthly and

311
00:09:44,320 --> 00:09:44,451
blah.

312
00:09:44,451 --> 00:09:45,832
And the IRD, the posted rate could

313
00:09:45,832 --> 00:09:46,292
be worse.

314
00:09:46,292 --> 00:09:47,870
And the prepayment privileges,

315
00:09:47,870 --> 00:09:51,459
even though no one uses those
really, isn't as good.

316
00:09:51,459 --> 00:09:52,786
And you start like scrambling.

317
00:09:52,786 --> 00:09:54,184
And then you're like, really?

318
00:09:54,184 --> 00:09:57,803
I don't really know why I'd work
with myself for 30 basis points.

319
00:09:57,903 --> 00:10:00,153
Difference, $500,000 mortgage,
like $1,500 a year, five years,

320
00:10:00,153 --> 00:10:00,440
$7,500.

321
00:10:01,660 --> 00:10:03,827
How do I make that up?

322
00:10:03,927 --> 00:10:04,622
I don't know.

323
00:10:04,622 --> 00:10:05,516
You tell me.

324
00:10:05,416 --> 00:10:09,668
Would you work for yourself for 20
basis point or premium?

325
00:10:09,668 --> 00:10:10,459
Would you?
Would you?

326
00:10:10,459 --> 00:10:13,330
Like, what's the other thing
you're doing?

327
00:10:13,330 --> 00:10:18,113
And so it's crazy that we are in
an industry where we are not held

328
00:10:18,213 --> 00:10:21,528
accountable, where we have to
always be sharpening the knife,

329
00:10:21,428 --> 00:10:23,946
our skills on how to save our
clients money.

330
00:10:24,046 --> 00:10:29,753
We get into this industry with a
joke of a course, we get thrown

331
00:10:29,853 --> 00:10:34,215
into some brokerage that doesn't
know what the hell they're doing.

332
00:10:34,315 --> 00:10:38,354
And even if they do, good for you,
you figured that out, they know

333
00:10:38,354 --> 00:10:42,493
where to place a deal, but they're
not showing you where to get

334
00:10:42,493 --> 00:10:42,709
business.

335
00:10:42,709 --> 00:10:44,151
And so you're scrambling, you're

336
00:10:44,151 --> 00:10:49,273
on an island, and you keep on
going.

337
00:10:49,273 --> 00:10:51,624
And you keep on plugging.

338
00:10:51,524 --> 00:10:53,740
And then guess what, it comes up

339
00:10:53,780 --> 00:10:54,932
to renew your license.

340
00:10:54,932 --> 00:10:57,278
And you take a two year course.

341
00:10:57,278 --> 00:11:01,895
And you say, or every two years,
you take a 40 minute multiple

342
00:11:01,895 --> 00:11:02,255
choice question.

343
00:11:02,255 --> 00:11:04,620
I've done so many of these.

344
00:11:04,620 --> 00:11:07,485
I don't even know what was in the
thing.

345
00:11:07,485 --> 00:11:12,592
You're just like speed reading and
like B, C, A, D, E, F, right?

346
00:11:12,592 --> 00:11:16,770
There's no strategies in there to
help you save your client money,

347
00:11:16,770 --> 00:11:19,652
to be an expert on what you do.

348
00:11:19,652 --> 00:11:21,978
And then you pay your 750 and you

349
00:11:21,978 --> 00:11:24,930
pay the cash cow and you carry on,
you back out in the wilderness and

350
00:11:24,930 --> 00:11:27,389
you've got a pocket knife and
you're starving and you're like,

351
00:11:27,389 --> 00:11:29,818
where the frick do I go?
Should I eat that berry?

352
00:11:29,818 --> 00:11:30,671
I don't know.

353
00:11:30,671 --> 00:11:32,207
It looks wild to me.

354
00:11:32,207 --> 00:11:33,908
Let's let Johnny over here eat it.

355
00:11:33,808 --> 00:11:33,995
Right.

356
00:11:33,995 --> 00:11:35,864
And we'll see what happens to him.

357
00:11:35,964 --> 00:11:37,172
And you're sitting there going, I

358
00:11:37,172 --> 00:11:38,898
don't know, where do we get the
deals?

359
00:11:38,898 --> 00:11:40,854
What do we do?
What do we do?

360
00:11:40,854 --> 00:11:43,160
Oh, 30 B. I wouldn't work with us.

361
00:11:43,160 --> 00:11:44,238
This industry sucks.

362
00:11:44,238 --> 00:11:46,260
It's only a matter of time, right?
And you start spiraling.

363
00:11:46,260 --> 00:11:48,003
And that's where we're at right
now.

364
00:11:48,003 --> 00:11:49,642
That's where we're at.

365
00:11:49,642 --> 00:11:50,777
And unfortunately, the industry is

366
00:11:50,777 --> 00:11:52,657
not going to help you.

367
00:11:52,657 --> 00:11:56,378
All of you are on an island.

368
00:11:56,378 --> 00:12:01,643
And the ones who have made it so
far, you've figured some things

369
00:12:01,643 --> 00:12:03,574
out and you've been resourceful,
which has been great.

370
00:12:03,574 --> 00:12:06,208
But you still have to keep going
and up in your game.

371
00:12:06,208 --> 00:12:09,617
A lot of us just sit on our hands
and we wait for deals.

372
00:12:09,717 --> 00:12:12,803
And then the deal comes in and we
have a conversation and we get an

373
00:12:12,903 --> 00:12:14,312
application and we lose the deal.

374
00:12:14,212 --> 00:12:15,729
And we're sitting there going, oh

375
00:12:15,829 --> 00:12:16,259
shit, this sucks.

376
00:12:16,259 --> 00:12:16,812
This industry sucks.

377
00:12:16,789 --> 00:12:17,760
The banks are screwing us.

378
00:12:17,760 --> 00:12:18,604
It's not the case.

379
00:12:18,599 --> 00:12:19,394
Up your game.

380
00:12:19,394 --> 00:12:20,571
I have a hard time referring

381
00:12:20,571 --> 00:12:21,337
people out in this industry.

382
00:12:21,337 --> 00:12:22,102
There's only so many people I

383
00:12:22,102 --> 00:12:25,626
would actually refer people and
put my name on it too, because I

384
00:12:25,726 --> 00:12:26,659
know they've their game.

385
00:12:26,659 --> 00:12:28,724
I know they are absolute experts

386
00:12:28,724 --> 00:12:32,615
at what they do and they will show
the client how to save money.

387
00:12:32,615 --> 00:12:33,861
I don't care about getting it
financed.

388
00:12:33,861 --> 00:12:34,920
I'm not talking about that.

389
00:12:35,000 --> 00:12:35,730
If you're an underwriting ninja,

390
00:12:35,693 --> 00:12:36,426
phenomenal, great, good for You're
you.

391
00:12:36,426 --> 00:12:37,808
going to get some deals I'm done.

392
00:12:37,771 --> 00:12:39,923
not talking about If that.

393
00:12:39,823 --> 00:12:42,244
you're an underwriting ninja,
phenomenal, great, good for you.

394
00:12:42,244 --> 00:12:43,664
You're going to get some deals
done.

395
00:12:43,664 --> 00:12:46,920
I'm talking about the people where
it's me against CIBC, RBC, show me

396
00:12:47,140 --> 00:12:48,747
how to sit, show me the money.

397
00:12:48,747 --> 00:12:49,216
Jerry Maguire style.

398
00:12:49,216 --> 00:12:53,854
How are we going to do it?
But a lot of you just sit back and

399
00:12:53,954 --> 00:12:57,369
you're like, no. And then you end
up inevitably battling it out,

400
00:12:57,369 --> 00:13:01,282
which you're going to lose nine
times out of 10.

401
00:13:01,182 --> 00:13:06,382
Once in a while, you win, you cut
all your commission out, you throw

402
00:13:06,382 --> 00:13:09,517
in legals, you throw in this and
you leave it and you're stressed

403
00:13:09,517 --> 00:13:11,165
out and then you bring that home.

404
00:13:11,165 --> 00:13:13,202
And then you don't know where the

405
00:13:13,202 --> 00:13:16,792
money is coming from, but instead
of trying to up your game and be

406
00:13:16,792 --> 00:13:18,550
better, more of an expert.

407
00:13:18,550 --> 00:13:20,320
How can I strategically get better

408
00:13:20,320 --> 00:13:22,700
and not have conversations about
product and price?

409
00:13:22,800 --> 00:13:23,661
I'm inevitably going to have some
of those conversations.

410
00:13:23,556 --> 00:13:24,773
But how do I figure out a way to
go after the people who aren't

411
00:13:24,873 --> 00:13:27,045
being pitched, who aren't being
sent offers, the renewals and the

412
00:13:27,045 --> 00:13:29,416
purchases?
How do I go after the refinances?

413
00:13:29,416 --> 00:13:31,664
People are sitting there thinking
they're good.

414
00:13:31,564 --> 00:13:36,669
How can I explain to them there's
a better way to do X, Y, and Z?

415
00:13:36,669 --> 00:13:39,528
There's a better way to increase
your net worth, to retire quicker,

416
00:13:39,528 --> 00:13:42,555
to be mortgage-free faster, to get
more money from CRA to pay your

417
00:13:42,555 --> 00:13:44,921
mortgage off, to do X, Y, Z.

418
00:13:44,921 --> 00:13:46,460
That's what I need to do because

419
00:13:46,440 --> 00:13:48,495
the people who are doing that are
not having the same conversations

420
00:13:48,375 --> 00:13:49,240
you are over here.

421
00:13:49,140 --> 00:13:49,816
Where you're grinding away,

422
00:13:49,816 --> 00:13:50,976
getting extremely frustrated, and
you're frustrating everybody

423
00:13:50,976 --> 00:13:51,555
around you.

424
00:13:51,555 --> 00:13:52,346
So, unfortunately, that's the

425
00:13:52,346 --> 00:13:53,990
industry we're in.

426
00:13:53,990 --> 00:13:55,194
Where you are on a freaking

427
00:13:55,194 --> 00:13:55,445
island.

428
00:13:55,445 --> 00:13:55,846
You are.

429
00:13:55,946 --> 00:13:57,617
Nobody is sitting there teaching
you these advanced strategies now

430
00:13:57,617 --> 00:14:00,275
obviously i have a coaching
company i have a training company

431
00:14:00,275 --> 00:14:07,053
we do some of this stuff that's
not why i'm here talking to you

432
00:14:07,053 --> 00:14:10,686
about this this is me just going
like i recognized in my career

433
00:14:10,686 --> 00:14:13,833
halfway through that i don't want
to be the person that does that

434
00:14:13,733 --> 00:14:17,200
and i'm trying to always sort
through 40 things to find the good

435
00:14:17,200 --> 00:14:20,763
five or six deals and have
underwriters on my team and

436
00:14:20,763 --> 00:14:24,333
fulfillment and call intake people
and manage four or five people and

437
00:14:24,332 --> 00:14:26,482
all their personalities and
payroll to sort through all the

438
00:14:26,482 --> 00:14:29,373
shit to find the people that I can
help.

439
00:14:29,373 --> 00:14:34,080
I'm just going to go find the
people I love working with.

440
00:14:34,080 --> 00:14:36,593
And it's going to be around doing
a refinance.

441
00:14:36,693 --> 00:14:39,465
They need me to get to where they
want to go.

442
00:14:39,465 --> 00:14:44,451
And I'm going to point out you
have a problem, a problem they

443
00:14:44,451 --> 00:14:45,337
don't realize yet.

444
00:14:45,337 --> 00:14:50,395
And if I get good at that, then

445
00:14:50,295 --> 00:14:54,793
they will work with me for the
premium.

446
00:14:54,793 --> 00:14:59,036
Because they can go to RBC, but
they don't get me.

447
00:14:59,036 --> 00:15:04,132
So you've heard me talk about all
this in the avatar.

448
00:15:04,132 --> 00:15:07,099
And this is just me sitting in the
back.

449
00:15:07,099 --> 00:15:08,600
I'm in the back eating popcorn.

450
00:15:08,600 --> 00:15:10,292
I'm eating popcorn and I'm seeing,

451
00:15:10,292 --> 00:15:11,511
and here's the thing.

452
00:15:11,511 --> 00:15:12,662
I can't save everyone.

453
00:15:12,662 --> 00:15:13,982
I cannot save everyone.

454
00:15:13,982 --> 00:15:14,637
I can't.

455
00:15:14,637 --> 00:15:21,185
I'm not even going to save any of
you on this call or this podcast.

456
00:15:21,185 --> 00:15:21,840
I'm not.

457
00:15:21,840 --> 00:15:23,858
It's not what this is about.

458
00:15:23,858 --> 00:15:28,788
This is about just, I want you to
go into this with eyes wide open.

459
00:15:28,788 --> 00:15:31,362
Right?
This isn't anyone else's This is

460
00:15:31,362 --> 00:15:34,405
about I want you to go into fault.

461
00:15:34,405 --> 00:15:36,466
this with eyes wide just, right?

462
00:15:36,466 --> 00:15:38,940
open, This isn't anyone else's
fault.

463
00:15:38,940 --> 00:15:41,925
It's not your team your broker
your you the licensing lead, body.

464
00:15:41,925 --> 00:15:43,591
owner, network, know, It's it's
your like, fault.

465
00:15:43,591 --> 00:15:46,411
it's, Everything comes back to you
much like a deal itself.

466
00:15:46,311 --> 00:15:46,851
It's interesting.

467
00:15:46,851 --> 00:15:49,551
We had, I was on a training call

468
00:15:49,551 --> 00:15:53,032
and a guy came on who I have mad
respect for and he came in and we

469
00:15:53,032 --> 00:15:54,078
were talking about the strategy
call.

470
00:15:54,078 --> 00:15:57,451
So this is when you have a live
deal, like it's actual refinance,

471
00:15:57,351 --> 00:16:00,865
ready to go, submit to a lender,
or here's the APS MLS, let's jump

472
00:16:00,865 --> 00:16:01,361
on a call.

473
00:16:01,361 --> 00:16:02,807
And you jump in, I walked him

474
00:16:02,807 --> 00:16:05,020
through how we did it, where we'd
walk him through the budget and

475
00:16:04,997 --> 00:16:06,438
then we'd show him different
offers from different lenders on

476
00:16:06,408 --> 00:16:09,840
the paper, we'd get them down to
like one option to choose from.

477
00:16:09,900 --> 00:16:14,474
And he brought up a point, he's
like, Hey, Ryan, because of where

478
00:16:14,474 --> 00:16:17,035
we're at right now, early in the
pre approval process that when I

479
00:16:17,035 --> 00:16:20,574
first pre approved him, I send
them the budget and outline the

480
00:16:20,574 --> 00:16:21,334
offers for them.

481
00:16:21,334 --> 00:16:22,370
Like, here's what you're pre

482
00:16:22,370 --> 00:16:22,922
approved for.

483
00:16:22,922 --> 00:16:25,720
Here's all your numbers.

484
00:16:25,537 --> 00:16:25,737
I actually put the side I go,
here's my pre approval for you.

485
00:16:25,692 --> 00:16:25,780
Here's RBC.

486
00:16:25,704 --> 00:16:25,780
And he's like, so I actually if

487
00:16:27,800 --> 00:16:28,077
that side.

488
00:16:27,973 --> 00:16:35,460
I here's go, my pre-approval for

489
00:16:35,324 --> 00:16:35,460
you.

490
00:16:35,344 --> 00:16:35,460
Here's RBC.

491
00:16:35,379 --> 00:16:38,200
And he's so I if that's their
like, I find out actually, who

492
00:16:38,146 --> 00:16:38,200
they're banking with.

493
00:16:40,760 --> 00:16:41,180
bank, And then I here's what we're

494
00:16:41,065 --> 00:16:42,059
seeing with go, RBC.

495
00:16:42,159 --> 00:16:43,806
This is their offer if you went

496
00:16:43,806 --> 00:16:44,365
there.

497
00:16:44,365 --> 00:16:45,553
And his rationale I don't was,

498
00:16:45,553 --> 00:16:47,020
want them going into the bank.

499
00:16:47,020 --> 00:16:48,270
I'm just going to show them the

500
00:16:48,270 --> 00:16:49,020
rate already.

501
00:16:49,020 --> 00:16:50,520
He says, so it's far, been

502
00:16:50,520 --> 00:16:50,770
working.

503
00:16:50,770 --> 00:16:51,520
And I'm it's interesting.

504
00:16:51,620 --> 00:16:53,897
like, OK, So there's two things
with this.

505
00:16:53,997 --> 00:16:55,284
It's interesting because I get it.

506
00:16:55,284 --> 00:16:57,259
To some degree, I like it.

507
00:16:57,259 --> 00:16:58,976
I'm going to throw, I know you
bank with RBC, Tom.

508
00:16:58,976 --> 00:17:01,229
That's why I threw that here, RBC,
right beside my pre-approval.

509
00:17:01,229 --> 00:17:02,654
And you can see the interest rate.

510
00:17:02,654 --> 00:17:05,180
I think that's too early to have a

511
00:17:05,079 --> 00:17:06,768
conversation because it's still a
pre-approval and they might not

512
00:17:06,768 --> 00:17:09,078
buy for seven months, right?
I encourage them to go on.

513
00:17:09,078 --> 00:17:09,983
But here's the thing.

514
00:17:09,983 --> 00:17:11,256
You've already, from day one,

515
00:17:11,156 --> 00:17:13,242
turned the conversation back to
price and product because you're

516
00:17:13,242 --> 00:17:14,928
showing what they have and what
you have.

517
00:17:14,928 --> 00:17:18,205
And the only difference you're
showing is the interest rate.

518
00:17:18,106 --> 00:17:19,928
So that's my major flaw with that
idea.

519
00:17:19,928 --> 00:17:22,163
But this just tells me, and this
is a smart broker, by the way,

520
00:17:22,163 --> 00:17:23,744
knows what he's doing, thinks
outside the box, love how he does,

521
00:17:23,744 --> 00:17:24,242
how he brokers.

522
00:17:24,108 --> 00:17:24,503
He's going to that.

523
00:17:24,503 --> 00:17:28,693
So I'm like, what's the average
mortgage broker going to?

524
00:17:28,673 --> 00:17:28,820
I'm like, oh God, this is, this is
going to be bad.

525
00:17:28,805 --> 00:17:30,600
This is going to be bad.

526
00:17:30,508 --> 00:17:32,120
You are going to get swallowed up

527
00:17:31,954 --> 00:17:32,180
and spit out.

528
00:17:32,054 --> 00:17:36,001
And so I always come back to, man,

529
00:17:35,964 --> 00:17:36,283
change how, the conversation.

530
00:17:36,136 --> 00:17:38,578
That's all you should swallowed up

531
00:17:38,456 --> 00:17:38,870
and spit And out.

532
00:17:38,748 --> 00:17:41,891
so I always come back to, how man,

533
00:17:41,779 --> 00:17:45,610
change the conversation?
That's all you should be trying to

534
00:17:45,567 --> 00:17:45,643
figure out.

535
00:17:45,604 --> 00:17:53,515
How do I change the conversation?

536
00:17:53,515 --> 00:17:54,920
What are my 10 questions?
I might not go through them all.

537
00:17:54,914 --> 00:17:55,736
There might be two, three, four,
five.

538
00:17:55,692 --> 00:17:56,941
Maybe I use two here, three here,
four there.

539
00:17:56,997 --> 00:17:59,308
I've given you so many of these
questions, but the ones I'm seeing

540
00:17:59,408 --> 00:18:02,293
who are crushing it now are the
ones who are changing the

541
00:18:02,293 --> 00:18:02,527
conversation.

542
00:18:02,527 --> 00:18:04,275
Now, would you rather work with

543
00:18:04,275 --> 00:18:06,640
people who didn't real thought
they were good with their

544
00:18:06,640 --> 00:18:09,341
mortgage, you present a scenario
to them, and they go, huh,

545
00:18:09,341 --> 00:18:09,584
interesting.

546
00:18:09,684 --> 00:18:12,506
And guess what the outcome is your

547
00:18:12,506 --> 00:18:15,300
mortgage free four years faster,
payments don't increase.

548
00:18:15,260 --> 00:18:16,840
Do you want to talk?
And they're like, yeah, let's

549
00:18:16,840 --> 00:18:17,080
talk.

550
00:18:17,080 --> 00:18:19,120
Boom, you present it to them, you

551
00:18:19,120 --> 00:18:20,055
get their application.

552
00:18:20,055 --> 00:18:21,160
You run through.

553
00:18:21,700 --> 00:18:23,516
You're going to save them
$200,000, $80,000, $300,000

554
00:18:23,516 --> 00:18:24,663
because you've learned the
strategy.

555
00:18:24,563 --> 00:18:26,100
You've learned how to sell it.

556
00:18:26,200 --> 00:18:28,743
You've learned how to position it.

557
00:18:28,743 --> 00:18:31,562
You've learned how to take hooks
out of it.

558
00:18:31,562 --> 00:18:34,215
You've learned to talk about that
and only that.

559
00:18:34,215 --> 00:18:36,406
What do you think is going to
happen?

560
00:18:36,506 --> 00:18:38,049
That's who you're going to be
working with.

561
00:18:38,049 --> 00:18:39,597
It's going to change the
conversation.

562
00:18:39,597 --> 00:18:41,271
Could they go back to the bank?
Sure.

563
00:18:41,271 --> 00:18:44,740
If you're not going to execute any
of the plan for them, right?

564
00:18:44,721 --> 00:18:45,728
I'm not going to lay it out like
step by step.

565
00:18:45,649 --> 00:18:46,244
I'm going to go, hey, this is the
plan.

566
00:18:46,214 --> 00:18:48,299
So we talked about a plan in our
last training, and it's called a

567
00:18:48,299 --> 00:18:48,666
ladder strategy.

568
00:18:48,666 --> 00:18:49,764
And other people call it a cascade

569
00:18:49,764 --> 00:18:49,902
strategy.

570
00:18:49,902 --> 00:18:51,079
And it's not my strategy.

571
00:18:51,079 --> 00:18:53,815
It's what I've learned, right?
Some of these things I come up

572
00:18:53,915 --> 00:18:56,839
with myself and put into practice
and I talk about and train on.

573
00:18:56,939 --> 00:18:59,730
This one I did not, but we are
going to train on.

574
00:18:59,730 --> 00:19:01,521
We are building tools around it.

575
00:19:01,521 --> 00:19:02,950
But I'm going to lay out very

576
00:19:02,950 --> 00:19:05,196
quickly what the strategy is.

577
00:19:05,196 --> 00:19:07,339
And it's up to you to decide if

578
00:19:07,339 --> 00:19:10,822
you think that would be a great
tool to have in your toolbox.

579
00:19:10,922 --> 00:19:13,840
It's something we're going to be
teaching on, I think, September

580
00:19:13,840 --> 00:19:14,299
11th.

581
00:19:14,299 --> 00:19:16,536
We have a renewal boot camp, a

582
00:19:16,436 --> 00:19:17,213
virtual one.

583
00:19:17,313 --> 00:19:18,707
Yeah, you don't have to fly

584
00:19:18,707 --> 00:19:18,886
anywhere.

585
00:19:18,886 --> 00:19:21,205
You don't have to meet us.

586
00:19:21,105 --> 00:19:21,934
Do it virtually.

587
00:19:21,934 --> 00:19:23,177
We're going to do it.

588
00:19:23,277 --> 00:19:27,698
We're going to give you three,
four strategies you can use, not

589
00:19:27,598 --> 00:19:31,880
just for renewal, but at refinance
and purchases and all that stuff.

590
00:19:31,980 --> 00:19:33,405
So this is a cascade one.

591
00:19:33,505 --> 00:19:34,984
I'm going to fly through it fast.

592
00:19:34,984 --> 00:19:37,886
Before I do, this podcast is
brought to you by H2O with a

593
00:19:37,786 --> 00:19:39,062
little salt in there for some
electrolytes.

594
00:19:39,062 --> 00:19:41,180
H2O with a little salt in there
for some electrolytes.

595
00:19:41,280 --> 00:19:43,402
so let's say it's Okay, an
uninsured deal, and let's just say

596
00:19:43,367 --> 00:19:44,250
the loan devalues whatever, 70%.

597
00:19:44,250 --> 00:19:45,650
Okay, I'm just going to use easy

598
00:19:45,650 --> 00:19:45,800
math.

599
00:19:45,800 --> 00:19:46,500
Let's go 80%.

600
00:19:46,400 --> 00:19:47,384
80%, you set them up $500,000
mortgage.

601
00:19:47,384 --> 00:19:48,419
Okay, put them in a step program.

602
00:19:48,419 --> 00:19:49,477
Now they pay down the mortgage,

603
00:19:49,477 --> 00:19:53,217
and let's say after the first year
there and let's is, say you put

604
00:19:53,217 --> 00:19:55,742
them in a step Now program.

605
00:19:55,742 --> 00:19:56,755
they pay down the And mortgage.

606
00:19:56,755 --> 00:19:59,924
let's say after the first year
there is, and let's say you put

607
00:19:59,924 --> 00:20:03,609
them in a five-year fixed, this is
going to allow you to get all the

608
00:20:03,609 --> 00:20:05,823
benefits of a fixed plus interest
rates are coming down.

609
00:20:05,923 --> 00:20:08,615
So you're going to be able to get
lower interest rates as well.

610
00:20:08,615 --> 00:20:10,875
And we can also get your payments
lower as well.

611
00:20:10,875 --> 00:20:14,096
If you need that extra cashflow
throughout your five-year term,

612
00:20:14,096 --> 00:20:16,907
they're going to be like, yeah, I
want all that.

613
00:20:16,907 --> 00:20:18,908
All the benefits of all of it,
zero downside.

614
00:20:18,808 --> 00:20:19,062
Yeah.

615
00:20:19,062 --> 00:20:21,026
I'm going to show you how.

616
00:20:21,126 --> 00:20:23,601
So half a million dollar mortgage,
they pay down there.

617
00:20:23,601 --> 00:20:25,428
Let's just say I'm using numbers
here.

618
00:20:25,328 --> 00:20:26,281
They pay their mortgage down
$30,000.

619
00:20:26,381 --> 00:20:26,801
Okay.

620
00:20:26,701 --> 00:20:27,556
So they have 30,000 becomes

621
00:20:27,643 --> 00:20:28,805
available on the home equity line.

622
00:20:28,805 --> 00:20:30,075
So at the end of year one, you

623
00:20:30,175 --> 00:20:33,347
have in your calendar, you reach
out and you go, Hey, it's time to

624
00:20:33,347 --> 00:20:34,974
do this now for this year.

625
00:20:34,874 --> 00:20:36,160
They go and they take the 30K

626
00:20:36,160 --> 00:20:37,222
that's available on the HELOC.

627
00:20:37,322 --> 00:20:38,476
Doesn't matter what the interest

628
00:20:38,476 --> 00:20:40,527
rate is on the HELOC, does not
matter.

629
00:20:40,527 --> 00:20:42,814
They take it and they prepay the
mortgage down.

630
00:20:42,814 --> 00:20:48,740
So instead of 470, because we went
from five, paid it down to 470

631
00:20:48,595 --> 00:20:53,706
after year one, you're going to
prepay it down to 430 or 440.

632
00:20:53,618 --> 00:20:53,843
Okay.

633
00:20:53,943 --> 00:20:54,743
And you'll carry, so 440 at the

634
00:20:54,743 --> 00:20:56,852
five-year fixed number, and you'll
have 30K in the HELOC.

635
00:20:56,852 --> 00:21:02,367
And then you're going to go in,
you're going to lock the HELOC

636
00:21:02,367 --> 00:21:04,379
number, the 30K in the HELOC into
a four, you're going to align it

637
00:21:04,265 --> 00:21:04,646
with the remaining term into a
four-year fixed.

638
00:21:04,489 --> 00:21:04,882
Because the four-year fixed has
come down.

639
00:21:04,724 --> 00:21:05,245
The fixed rates have come down
over that year.

640
00:21:05,098 --> 00:21:05,586
That's when this strategy works.

641
00:21:05,486 --> 00:21:06,930
So you start dollar cost averaging

642
00:21:06,930 --> 00:21:08,267
in lower interest rates.

643
00:21:08,167 --> 00:21:09,748
Then year two, you do the same

644
00:21:09,748 --> 00:21:09,954
thing.

645
00:21:09,954 --> 00:21:11,280
And year three and year four.

646
00:21:11,280 --> 00:21:13,579
And then guess what?
If they want lower payments

647
00:21:13,579 --> 00:21:16,417
because if something came up, X,
Y, Z, lost a job, need cash or

648
00:21:16,417 --> 00:21:18,726
whatever, because it's with the
preferred lender you have, you can

649
00:21:18,726 --> 00:21:19,441
re-amortize the payments.

650
00:21:19,441 --> 00:21:21,757
You can bring the payment back up

651
00:21:21,757 --> 00:21:22,291
to 30 years.

652
00:21:22,291 --> 00:21:23,060
But they're getting all these

653
00:21:23,500 --> 00:21:24,728
interest rates averaged in lower
interest rates.

654
00:21:24,828 --> 00:21:27,284
And if I talk too fast there, go
back and listen.

655
00:21:27,184 --> 00:21:30,439
So imagine you had some of those
60% loan to value.

656
00:21:30,339 --> 00:21:32,640
They're going to, out of the gate,
after year one, they're going to

657
00:21:32,740 --> 00:21:35,219
be able to maximize their
prepayment privilege.

658
00:21:35,219 --> 00:21:39,391
So in that example I gave you,
let's just say they had 300K

659
00:21:39,391 --> 00:21:41,705
mortgage, and they had a 200K or
even 100K HELOC.

660
00:21:41,705 --> 00:21:44,087
Well, 20% prepayment on the 300,
that's 60 pulled a 60 000 off the

661
00:21:44,187 --> 00:21:47,067
heloc they would have paid it down
as well but you get what i'm

662
00:21:46,967 --> 00:21:49,654
saying right this wasn't a podcast
on teaching you the inner workings

663
00:21:49,654 --> 00:21:53,685
of this stuff this is stuff we
train on and teach on and coach on

664
00:21:53,785 --> 00:21:57,254
this stuff that everyone on my
team and yeah i said my team and

665
00:21:57,254 --> 00:22:01,408
i'll talk about that next month
everyone on my team is going to

666
00:22:01,308 --> 00:22:03,009
know this strategy inside out.

667
00:22:03,009 --> 00:22:06,067
This is part of, as a team lead,

668
00:22:06,067 --> 00:22:08,429
coaching and mentoring on
strategies showing you how to save

669
00:22:08,429 --> 00:22:11,066
the client money and change the
conversation from product and

670
00:22:10,966 --> 00:22:12,313
price to restructuring debt and
how they win.

671
00:22:12,413 --> 00:22:13,794
This is what we should be
learning.

672
00:22:13,794 --> 00:22:14,980
But instead, we're not.

673
00:22:14,980 --> 00:22:16,265
We've been bamboozled into

674
00:22:16,165 --> 00:22:17,484
learning all these other lender
products.

675
00:22:17,484 --> 00:22:19,879
And we've been thrown into lunch
and learns and trips and go to

676
00:22:19,879 --> 00:22:23,685
this event and go over here and do
this and these golfing days and go

677
00:22:23,585 --> 00:22:24,003
do that.

678
00:22:24,103 --> 00:22:25,253
And it's just like, it's like

679
00:22:25,153 --> 00:22:25,519
drugging us.

680
00:22:25,519 --> 00:22:26,773
We're like, ah, so many products,

681
00:22:26,773 --> 00:22:27,296
so awesome.

682
00:22:27,296 --> 00:22:29,074
And then you're like, but I have

683
00:22:29,074 --> 00:22:29,834
no clients.

684
00:22:29,934 --> 00:22:31,120
I have no clients and I'm not even

685
00:22:31,120 --> 00:22:31,471
an expert.

686
00:22:31,571 --> 00:22:32,978
I'm an expert at understanding

687
00:22:32,978 --> 00:22:36,160
some of these products and where
to place a deal once in a while

688
00:22:36,160 --> 00:22:40,023
and which lender to go with, which
is a part of our job description.

689
00:22:40,023 --> 00:22:40,973
So that's cool.

690
00:22:40,973 --> 00:22:42,812
But I'm not an expert at saving my

691
00:22:42,912 --> 00:22:43,275
client money.

692
00:22:43,275 --> 00:22:44,780
I'm an expert at getting an

693
00:22:44,780 --> 00:22:45,591
approval that I'll ultimately
lose.

694
00:22:45,591 --> 00:22:48,962
Ah, there should be like some
light bulbs going off and on here.

695
00:22:48,962 --> 00:22:49,928
There should be.

696
00:22:49,928 --> 00:22:50,894
They're going off for me.

697
00:22:50,894 --> 00:22:54,288
So this is what I wanted to talk
about.

698
00:22:54,288 --> 00:22:56,695
I'm going to keep talking about
that here and there.

699
00:22:56,795 --> 00:23:00,848
Oh, man, I don't know if there's a
moral to the story here.

700
00:23:00,848 --> 00:23:03,490
You know, don't hate the player.

701
00:23:03,490 --> 00:23:04,371
Hate the game.

702
00:23:04,371 --> 00:23:08,182
You know, there's a moral to the
story here you know donate the

703
00:23:08,182 --> 00:23:10,915
player hate the game you know
that's kind of where i go with

704
00:23:10,915 --> 00:23:14,340
this this isn't their thing this
is a you thing as i tell my kids

705
00:23:14,341 --> 00:23:18,000
all the time this is a you thing
um but and i'm here to help i'm

706
00:23:18,000 --> 00:23:21,905
here to help you figure it out
though but this isn't you thing

707
00:23:21,905 --> 00:23:25,728
it's nothing else okay the reason
you only have so much money your

708
00:23:25,728 --> 00:23:27,484
bank account is because of you.

709
00:23:27,584 --> 00:23:30,886
It's not because RBC gave your

710
00:23:30,886 --> 00:23:31,805
client $5,000.

711
00:23:31,805 --> 00:23:34,858
We had a call like this on one of

712
00:23:34,858 --> 00:23:36,749
our last training.

713
00:23:36,749 --> 00:23:39,462
And you'll know who you are if

714
00:23:39,462 --> 00:23:41,487
you're listening and it's nothing
against you.

715
00:23:41,487 --> 00:23:44,380
This is like 99% of brokers are
like this.

716
00:23:44,380 --> 00:23:50,652
It is, hey, I lost the deal and I
got undercut and I lost my 30, 40

717
00:23:50,652 --> 00:23:51,339
basis points.

718
00:23:51,339 --> 00:23:52,972
So I always reverse engineer that.

719
00:23:52,972 --> 00:23:54,929
And they're like, Ryan, what could
I have done?

720
00:23:54,929 --> 00:23:58,484
And I'm like, well, I don't know
exactly how we got here.

721
00:23:58,384 --> 00:24:01,918
But if I reverse engineer it, and
I go, okay, what sort of

722
00:24:01,818 --> 00:24:03,730
handholding did you do?
Did you present?

723
00:24:03,730 --> 00:24:08,286
Did you I go right to the
beginning?

724
00:24:08,152 --> 00:24:13,538
I go, okay, did you tell them that
you're going to ask for a

725
00:24:13,538 --> 00:24:15,476
commitment to work with you and
get their word?

726
00:24:15,476 --> 00:24:17,279
Did you show them snippets of what
you do?

727
00:24:17,279 --> 00:24:18,625
Did you present after the
pre-approval certain scenarios

728
00:24:18,625 --> 00:24:23,352
where they might be able to save
money on their taxes or top up

729
00:24:23,352 --> 00:24:29,487
their RSPs or pull money out to
invest here or write stuff off

730
00:24:29,487 --> 00:24:32,797
because you did this here or the
ladder down strategy here?

731
00:24:32,797 --> 00:24:35,839
Like, did you present that stuff?
And then did you actually ask for

732
00:24:35,939 --> 00:24:37,136
the commitment?
And did they tell you, yeah,

733
00:24:37,136 --> 00:24:38,777
you're our guy, you're our girl,
let's go.

734
00:24:38,777 --> 00:24:41,080
And then they go out and shop.

735
00:24:41,080 --> 00:24:42,632
And then did you jump on a

736
00:24:42,632 --> 00:24:44,418
strategy call with them, where
you're eye to eye with them, and

737
00:24:44,304 --> 00:24:45,235
you're going through the final
budget, and you're answering, and

738
00:24:45,235 --> 00:24:46,620
they're coming up going, hey, RBC
is giving me this now.

739
00:24:46,620 --> 00:24:48,607
And you're like, cool, remember,
you gave your word.

740
00:24:48,607 --> 00:24:51,006
Plus, we're also going to be using
this strategy here.

741
00:24:51,006 --> 00:24:52,583
And so we're going to make that
money back.

742
00:24:52,583 --> 00:24:55,479
And then some plus you get me in,
like, have you done all that?

743
00:24:55,479 --> 00:24:58,651
And the answer is always no. Or
it's, I did this or this, but I

744
00:24:58,651 --> 00:25:00,001
didn't do that, that, that.

745
00:25:00,001 --> 00:25:01,777
So I tell you, most of the times

746
00:25:01,777 --> 00:25:04,287
when you lost the deal, you lost
it at the beginning.

747
00:25:04,287 --> 00:25:05,722
You had already lost it.

748
00:25:05,722 --> 00:25:07,948
You were always going to lose that

749
00:25:07,948 --> 00:25:10,317
deal, right?
So that's a process thing you need

750
00:25:10,317 --> 00:25:11,151
to pick up at the beginning.

751
00:25:11,151 --> 00:25:12,868
I'd rather know if I'm going to

752
00:25:12,868 --> 00:25:15,734
work with this client in the first
half hour or not.

753
00:25:15,734 --> 00:25:17,689
And so, but I have to arm myself
with these expert strategies.

754
00:25:17,689 --> 00:25:19,455
And if I'm not, then what am I
doing?

755
00:25:19,455 --> 00:25:21,811
I'm just pushing paper, walking
around going, I've got 30 lenders.

756
00:25:21,767 --> 00:25:23,372
Come work with me.

757
00:25:23,372 --> 00:25:25,221
I'll get a deal done.

758
00:25:25,221 --> 00:25:29,600
But you can get one better
yourself if you walk into the

759
00:25:29,700 --> 00:25:31,962
branch, even though you're not an
expert.

760
00:25:31,962 --> 00:25:33,075
But I'm an expert.

761
00:25:33,075 --> 00:25:34,354
I'll get deals done for you,

762
00:25:34,354 --> 00:25:35,800
right?
Like when you say that out loud,

763
00:25:35,800 --> 00:25:36,479
it's actually pretty embarrassing.

764
00:25:36,479 --> 00:25:38,063
It's kind of like, oh yeah, yeah,

765
00:25:38,063 --> 00:25:40,449
I get it, right?
And so I'm a little spicy on this

766
00:25:40,449 --> 00:25:40,799
one.

767
00:25:40,799 --> 00:25:41,497
You can tell.

768
00:25:41,497 --> 00:25:44,432
And it's, it's been a bill not for
a bit, right?

769
00:25:44,432 --> 00:25:47,220
And I saved the spiciness for
this.

770
00:25:47,220 --> 00:25:49,238
So I want to leave you with that,
okay?

771
00:25:49,238 --> 00:25:50,700
I'm going to end this podcast.

772
00:25:50,700 --> 00:25:52,638
I hope you got some from that.

773
00:25:52,638 --> 00:25:56,142
I hope you're just signing up your
game and not just renewing your

774
00:25:56,142 --> 00:25:58,663
license every two years and taking
that course.

775
00:25:58,663 --> 00:26:02,320
I hope you're actually looking for
ways to save your clients money

776
00:26:02,640 --> 00:26:04,414
and not all maximize prepayment
privileges, right?

777
00:26:04,314 --> 00:26:05,704
And I'll do that.

778
00:26:05,704 --> 00:26:07,022
Like the people who figured it

779
00:26:07,022 --> 00:26:08,741
out, they're not having the
problems you are, but they've

780
00:26:08,741 --> 00:26:09,142
upped their game.

781
00:26:09,142 --> 00:26:09,600
Okay.

782
00:26:09,600 --> 00:26:11,003
Takes time, time to do that.

783
00:26:11,003 --> 00:26:12,821
And the will that you want to do

784
00:26:12,821 --> 00:26:13,997
and get better at it.

785
00:26:14,097 --> 00:26:15,597
I don't know any other career

786
00:26:15,597 --> 00:26:17,003
where you don't have to
consistently up your game.

787
00:26:17,003 --> 00:26:18,727
Like FAs, they're constantly being
shown new strategies.

788
00:26:18,818 --> 00:26:20,051
They're constantly doing, going
through training, shown new

789
00:26:20,051 --> 00:26:20,289
strategies.

790
00:26:20,289 --> 00:26:21,142
They're constantly doing going

791
00:26:21,142 --> 00:26:21,721
through training, very extensive
training.

792
00:26:21,721 --> 00:26:22,565
They're constantly having new
certifications.

793
00:26:22,465 --> 00:26:22,954
We are not.

794
00:26:22,920 --> 00:26:23,333
It's complete bullshit.

795
00:26:23,333 --> 00:26:25,707
But this is the world we chose to
be in.

796
00:26:25,707 --> 00:26:27,809
As my wife said, this is a gong
show.

797
00:26:27,809 --> 00:26:28,485
That's it, kids.

798
00:26:28,485 --> 00:26:29,088
Peace out.

799
00:26:29,088 --> 00:26:29,151
you