260: Adapt or Die: The Harsh Truth for Struggling Mortgage Brokers

1
00:00:06,130 --> 00:00:07,550
Welcome to the mortgage game.

2
00:00:07,790 --> 00:00:09,890
I truly, truly believe that

3
00:00:09,890 --> 00:00:13,370
building a mortgage business, a
successful one, is like playing a

4
00:00:13,370 --> 00:00:13,550
game.

5
00:00:13,550 --> 00:00:15,050
There's winners, there's losers,

6
00:00:15,050 --> 00:00:16,430
there's certain things you try.

7
00:00:16,430 --> 00:00:18,130
Some of us are playing checkers,

8
00:00:18,130 --> 00:00:19,910
while others are playing chess.

9
00:00:19,910 --> 00:00:22,430
I've had the ability to coach and

10
00:00:22,430 --> 00:00:23,570
mentor hundreds of mortgage
brokers.

11
00:00:23,570 --> 00:00:27,930
I myself built a very nice
business, so now I want to distill

12
00:00:27,930 --> 00:00:30,770
all that information, all the
things I've learned from that, and

13
00:00:30,770 --> 00:00:33,190
bring it directly to you in a
simple -to -understand way.

14
00:00:33,190 --> 00:00:34,230
I hope you enjoy.

15
00:00:34,230 --> 00:00:38,350
West Coast Wiley in the house.

16
00:00:38,350 --> 00:00:40,110
Man, it's been a while.

17
00:00:40,610 --> 00:00:43,350
And I know a bunch of you reached

18
00:00:43,350 --> 00:00:43,670
out.

19
00:00:43,670 --> 00:00:44,330
Ryan, where's the podcast?

20
00:00:44,330 --> 00:00:46,490
When's the next podcast?
Well, I'm going to explain.

21
00:00:46,490 --> 00:00:50,570
It's been, I don't even know how
long since, maybe six weeks since

22
00:00:50,570 --> 00:00:51,550
I did a podcast.

23
00:00:51,550 --> 00:00:53,190
I have ideas on top of ideas.

24
00:00:53,570 --> 00:00:54,930
But here's the thing.

25
00:00:54,930 --> 00:00:56,850
Nothing felt right in the moment.

26
00:00:56,850 --> 00:01:00,770
I'm not one of those people that
just put something out to put it

27
00:01:00,770 --> 00:01:02,750
out to say I put it out.

28
00:01:02,750 --> 00:01:03,610
It was, you know what?

29
00:01:03,610 --> 00:01:05,140
I don't feel like recording that.

30
00:01:05,140 --> 00:01:06,500
I don't believe in that right now.

31
00:01:06,500 --> 00:01:08,000
My thoughts on that have changed.

32
00:01:08,000 --> 00:01:10,100
I don't think this is worthy of

33
00:01:10,100 --> 00:01:12,140
putting on here right now.

34
00:01:12,140 --> 00:01:13,440
And so that's where I went.

35
00:01:13,440 --> 00:01:16,540
And then also I've added another
layer of complexity, much like a

36
00:01:16,540 --> 00:01:19,400
lot of you do in your mortgage
business.

37
00:01:19,400 --> 00:01:22,660
I used to record this on my phone,
which I'm doing now.

38
00:01:22,660 --> 00:01:26,040
This one's on my phone in my
house, walking around.

39
00:01:26,040 --> 00:01:26,560
tidying up.

40
00:01:26,740 --> 00:01:27,560
That's what I'm doing.

41
00:01:27,560 --> 00:01:32,020
I walk around, I can't sit and
talk.

42
00:01:32,020 --> 00:01:34,820
I used to do is driving around,
which was great.

43
00:01:34,820 --> 00:01:37,060
I could be sporadic, spontaneous,
and just be like, boom, boom,

44
00:01:37,060 --> 00:01:37,700
boom, boom, boom.

45
00:01:37,700 --> 00:01:40,080
Now it's like, well, since I'm

46
00:01:40,300 --> 00:01:43,660
doing it, I might as well be on
camera and I might as well create

47
00:01:43,660 --> 00:01:45,560
a long form video that we can put
on YouTube and blah, blah, blah.

48
00:01:45,560 --> 00:01:46,480
So now that adds another layer,
right?

49
00:01:46,480 --> 00:01:47,640
A lot of us do this.

50
00:01:47,640 --> 00:01:49,220
We have these bottlenecks we

51
00:01:49,320 --> 00:01:49,960
create in our business.

52
00:01:49,960 --> 00:01:51,760
Well, you know, I need my

53
00:01:51,760 --> 00:01:52,380
background to be perfect.

54
00:01:52,380 --> 00:01:53,660
I need to be on camera.

55
00:01:53,660 --> 00:01:55,520
I need to be feeling it that day.

56
00:01:55,520 --> 00:01:56,900
Whereas A lot of you, instead of

57
00:01:56,900 --> 00:01:58,400
building a YouTube channel, you
could just build a podcast because

58
00:01:58,400 --> 00:02:02,410
you could easily be where no one
sees your face and you're just

59
00:02:02,610 --> 00:02:03,190
talking and walking wherever you
are.

60
00:02:03,190 --> 00:02:05,890
And so I created that friction
point in the process because I

61
00:02:05,890 --> 00:02:08,750
wanted to repurpose it for YouTube
and have this on YouTube with

62
00:02:08,750 --> 00:02:09,169
video format.

63
00:02:09,169 --> 00:02:11,570
Now that doesn't work.

64
00:02:11,570 --> 00:02:14,750
It's not spontaneous anymore
because you're turning the camera

65
00:02:14,750 --> 00:02:19,290
on, you have to be down in the
office and blah, blah, blah.

66
00:02:19,290 --> 00:02:20,970
So I added friction points.

67
00:02:20,970 --> 00:02:22,890
lesson learned, I'm still going to

68
00:02:22,890 --> 00:02:25,310
power through with the video, but
I figured I can't go any longer.

69
00:02:25,390 --> 00:02:30,860
I'm going to pop on here and I
feel passionate about a topic.

70
00:02:30,860 --> 00:02:32,280
So I'm going to talk to it.

71
00:02:32,280 --> 00:02:32,800
So there's twofold.

72
00:02:32,800 --> 00:02:34,700
Why you haven't heard in summary,
I haven't been passionate enough

73
00:02:34,700 --> 00:02:37,480
where I think it's worthy of
giving you a podcast episode

74
00:02:37,480 --> 00:02:38,160
because I'm not that guy.

75
00:02:38,160 --> 00:02:40,140
It's just going to put shit out to

76
00:02:40,380 --> 00:02:41,320
put shit out.

77
00:02:41,320 --> 00:02:42,020
Can't do it.

78
00:02:42,020 --> 00:02:44,420
And then number two, creative
friction points by trying to turn

79
00:02:44,420 --> 00:02:47,580
it into a YouTube video and a
podcast instead of just a podcast.

80
00:02:47,580 --> 00:02:47,760
Okay.

81
00:02:47,760 --> 00:02:49,860
So there you go.

82
00:02:49,860 --> 00:02:50,740
Hopefully that explains.

83
00:02:50,740 --> 00:02:53,040
Those are real answers, real time,

84
00:02:53,040 --> 00:02:53,520
real answers.

85
00:02:53,520 --> 00:02:54,940
So what are we talking about

86
00:02:54,940 --> 00:02:57,420
today?
Well, seeing a lot of stuff, as

87
00:02:57,420 --> 00:02:59,570
you know, I've started a team,
running coaching business, running

88
00:02:59,570 --> 00:03:00,610
a database marketing company.

89
00:03:00,610 --> 00:03:03,930
Like I'm seeing a lot of different

90
00:03:03,930 --> 00:03:05,490
angles of a lot of things.

91
00:03:06,050 --> 00:03:07,550
And there's one thing that just

92
00:03:07,550 --> 00:03:09,050
keeps coming back and back and
back.

93
00:03:09,470 --> 00:03:12,390
And that is brokers are losing
deals.

94
00:03:12,390 --> 00:03:14,750
You're losing deals more than
we've ever lost before.

95
00:03:14,750 --> 00:03:18,110
in the industry definitely in the
13 years 14 years i've been in it

96
00:03:18,110 --> 00:03:22,650
and and it's not even close and
i'm talking losing deals to the

97
00:03:22,650 --> 00:03:27,800
banks and you can puff your chest
out as much as you want and you

98
00:03:27,800 --> 00:03:32,740
can say hey no i'm not losing you
are come on you are the numbers

99
00:03:32,740 --> 00:03:37,760
don't lie right 2023 hit a lot of
people really hard it did Start

100
00:03:37,760 --> 00:03:38,300
recognizing or not.

101
00:03:38,300 --> 00:03:39,780
A lot of people left the industry.

102
00:03:39,780 --> 00:03:42,140
A lot of people are thinking of
this is the thing for them.

103
00:03:42,140 --> 00:03:43,980
They're questioning everything
they thought they knew.

104
00:03:43,980 --> 00:03:48,660
They're wondering, am I as smart
as I think I am?

105
00:03:48,660 --> 00:03:51,830
Like, how did I even have a
business?

106
00:03:51,830 --> 00:03:53,330
How was I doing volume?
How am I?

107
00:03:53,330 --> 00:03:55,970
How did I regress?
Like all this doubt is coming in.

108
00:03:55,970 --> 00:04:00,210
But the simple fact is more
brokers are losing files very

109
00:04:00,210 --> 00:04:01,050
consistently to the brand.

110
00:04:01,050 --> 00:04:01,930
Everywhere I go, every team

111
00:04:01,930 --> 00:04:03,130
meeting I sit on.

112
00:04:03,130 --> 00:04:04,050
In other people's teams, not

113
00:04:04,170 --> 00:04:04,650
necessarily ours, but other
people.

114
00:04:04,650 --> 00:04:05,670
I'm sitting on team meetings.

115
00:04:05,670 --> 00:04:07,850
I'm helping with coaching in

116
00:04:07,850 --> 00:04:08,450
different areas.

117
00:04:08,450 --> 00:04:09,630
Lost deals, lost deals.

118
00:04:09,630 --> 00:04:12,010
What do I do?
What do I do?

119
00:04:12,010 --> 00:04:15,790
What do I do?
Well, I'm here to tell you there's

120
00:04:15,970 --> 00:04:20,420
not one simple answer to give you
to not lose deals to the branch.

121
00:04:20,620 --> 00:04:21,579
It's an accumulation of things.

122
00:04:21,579 --> 00:04:23,400
It's a lot of things you need to

123
00:04:23,400 --> 00:04:25,560
work into your business to get to
that point.

124
00:04:25,560 --> 00:04:26,540
A lot of you were always going to
lose the deal.

125
00:04:26,740 --> 00:04:27,960
It didn't just come out of left
field.

126
00:04:27,960 --> 00:04:31,000
If I reverse engineer the client
journey, the conversations you

127
00:04:31,000 --> 00:04:34,400
had, the value you added, how you
position it to, if I reversed

128
00:04:34,400 --> 00:04:36,620
engineered all that on that file,
I could have predicted that you

129
00:04:36,620 --> 00:04:37,800
were going to lose that deal.

130
00:04:37,800 --> 00:04:38,700
There's a high likelihood you were

131
00:04:38,700 --> 00:04:39,900
going to lose that deal.

132
00:04:39,900 --> 00:04:40,300
Now, here's the thing.

133
00:04:40,300 --> 00:04:45,000
You used to be able to build a
mortgage business, customer

134
00:04:45,000 --> 00:04:46,360
service, 1 million percent.

135
00:04:46,360 --> 00:04:47,760
You could be captain

136
00:04:47,760 --> 00:04:50,080
communication, knock it out of the
park, follow up, insane.

137
00:04:50,080 --> 00:04:54,020
know just enough to get the deal
done, didn't even need to be, you

138
00:04:54,020 --> 00:04:56,420
know, this savant in the mortgage
side, and you still don't need to

139
00:04:56,420 --> 00:04:56,560
be.

140
00:04:56,560 --> 00:04:58,780
But you just like you were tight,

141
00:04:58,780 --> 00:05:05,260
you did all the obvious things
that most people in life just drop

142
00:05:05,260 --> 00:05:08,440
the ball on, right?
Someone says hi to you, you say hi

143
00:05:08,440 --> 00:05:14,630
back with a certain level of
energy, you look them in their

144
00:05:14,630 --> 00:05:16,510
eye, and then you ask them a
question.

145
00:05:16,510 --> 00:05:18,370
Like I'm just talking, giving you
a basic example of interactions

146
00:05:18,370 --> 00:05:20,970
you have where a lot of people
just drop the ball.

147
00:05:20,970 --> 00:05:23,690
In your mortgage business, you
could run a nice business.

148
00:05:23,690 --> 00:05:25,350
A lot of people have.

149
00:05:25,350 --> 00:05:25,990
They really did.

150
00:05:26,510 --> 00:05:30,130
And now those people are still
losing deals to the brand.

151
00:05:30,130 --> 00:05:33,410
So even the brokers, who I like to
say have their shit together, are

152
00:05:33,410 --> 00:05:36,150
doing the basic human things, the
obvious things, responding in a

153
00:05:36,350 --> 00:05:36,530
timely fashion.

154
00:05:36,530 --> 00:05:37,910
God forbid, no kidding.

155
00:05:37,910 --> 00:05:39,130
Responding time, following up with
people.

156
00:05:39,130 --> 00:05:41,490
When you ask them for something,
they don't respond.

157
00:05:41,490 --> 00:05:43,950
You don't go, screw you, man.

158
00:05:43,950 --> 00:05:44,810
We're not working together.

159
00:05:44,810 --> 00:05:49,470
You follow up and you go, hey, do
you need help with that?

160
00:05:49,470 --> 00:05:53,570
Is there a reason you haven't
given me that T4 I requested?

161
00:05:53,570 --> 00:05:55,910
Like what's going on here?
What am I not seeing?

162
00:05:55,910 --> 00:05:57,850
Like that type of stuff.

163
00:05:58,070 --> 00:06:03,180
You used to be able to run a very

164
00:06:03,180 --> 00:06:05,420
nice business off of that.

165
00:06:05,720 --> 00:06:07,140
Those days are gone.

166
00:06:07,200 --> 00:06:09,860
And if you disagree, it just
hasn't hit you yet, but it is.

167
00:06:10,000 --> 00:06:13,340
If you think you are going to
build a business, a mortgage

168
00:06:13,340 --> 00:06:15,660
business, one that is worth
anything, one that can feed your

169
00:06:15,660 --> 00:06:17,220
family for the next 10, 20 years.

170
00:06:17,220 --> 00:06:21,240
If you think you can do that on

171
00:06:21,240 --> 00:06:24,300
just being a good guy or a good
girl and following up and staying

172
00:06:24,300 --> 00:06:27,000
in touch and being slick on the
phone and having the gift of the

173
00:06:27,000 --> 00:06:27,180
gab.

174
00:06:27,180 --> 00:06:30,200
If you think that is going to be

175
00:06:30,200 --> 00:06:31,440
able to build your business.

176
00:06:31,440 --> 00:06:33,960
I have a rude awakening for you.

177
00:06:33,960 --> 00:06:34,360
It's coming.

178
00:06:34,360 --> 00:06:36,480
And I'm sure it already has.

179
00:06:37,040 --> 00:06:39,460
You just haven't recognized it
yet.

180
00:06:39,780 --> 00:06:41,000
And so here's the thing.

181
00:06:41,000 --> 00:06:43,400
I got good news and I got bad

182
00:06:43,400 --> 00:06:43,540
news.

183
00:06:43,540 --> 00:06:45,060
The good news is I love

184
00:06:45,060 --> 00:06:45,900
positioning people that way.

185
00:06:45,900 --> 00:06:47,640
My clients and referral partners

186
00:06:47,640 --> 00:06:49,600
got good news.

187
00:06:49,600 --> 00:06:51,100
I have bad news.

188
00:06:51,100 --> 00:06:55,300
So I have good news, bad news for
you as a broker.

189
00:06:55,300 --> 00:06:57,080
If that's your shtick.

190
00:06:57,080 --> 00:06:59,460
and you're awesome at the follow

191
00:06:59,460 --> 00:07:03,280
-up like you just crush all that
stuff and you're great you have

192
00:07:03,360 --> 00:07:06,140
these systems and processes your
client journey's warm and fuzzy

193
00:07:06,140 --> 00:07:09,960
and you get them a closing day
gift and you have templated emails

194
00:07:09,960 --> 00:07:12,480
going out 30 days after close and
you have templated emails

195
00:07:12,480 --> 00:07:15,480
introducing like it's all bare
minimum shit you need but let's

196
00:07:15,480 --> 00:07:18,800
just say you got that and you're
just like People like you and they

197
00:07:18,800 --> 00:07:20,000
like your energy and they work
with you.

198
00:07:20,000 --> 00:07:21,900
Okay, that's cool.

199
00:07:21,900 --> 00:07:24,240
The good news is this.

200
00:07:24,240 --> 00:07:25,940
You can actually still run a
business like that.

201
00:07:25,940 --> 00:07:27,320
And you will be able to for the
foreseeable future.

202
00:07:27,320 --> 00:07:30,220
But it comes to the caveat.

203
00:07:30,220 --> 00:07:31,860
The caveat is you're going to need

204
00:07:31,860 --> 00:07:33,180
a lot more leads.

205
00:07:33,180 --> 00:07:36,940
Your lead to funding ratio is not

206
00:07:36,940 --> 00:07:39,480
going to be anywhere near what it
once was.

207
00:07:39,480 --> 00:07:41,800
So you could absolutely do that.

208
00:07:41,800 --> 00:07:43,320
But if you're having 50 leads come

209
00:07:43,320 --> 00:07:46,200
in, and you close 12 deals, now
you're going to need 100 or 150

210
00:07:46,200 --> 00:07:47,480
leads coming in to close the 12
deals.

211
00:07:47,480 --> 00:07:51,060
If that's your differentiator, is
I'm a good person, people like me,

212
00:07:51,060 --> 00:07:53,060
because you know what?
The gig's up.

213
00:07:53,060 --> 00:07:54,660
Is it the gig up?
The jig.

214
00:07:54,660 --> 00:07:55,260
It's the jig.

215
00:07:55,260 --> 00:07:57,620
The jig's up.

216
00:07:57,620 --> 00:07:59,260
That's not going to fly much
longer.

217
00:07:59,260 --> 00:08:00,540
You need to be a specialist at
something.

218
00:08:00,540 --> 00:08:00,960
You do.

219
00:08:00,960 --> 00:08:02,340
You are.

220
00:08:02,340 --> 00:08:05,240
You can't be a generalist.

221
00:08:05,240 --> 00:08:05,860
You just can't.

222
00:08:05,860 --> 00:08:08,820
You can't be a general HR person.

223
00:08:09,340 --> 00:08:12,180
You need to dive into an industry,

224
00:08:12,180 --> 00:08:13,160
consumer packaging goods, CPG.

225
00:08:13,160 --> 00:08:13,840
Go do that.

226
00:08:14,160 --> 00:08:17,740
Don't try to be the HR department.

227
00:08:17,740 --> 00:08:20,120
Now we say HR because my wife did

228
00:08:20,120 --> 00:08:22,580
HR for so long and she was in that
world.

229
00:08:22,580 --> 00:08:25,220
And she kept saying the same
thing.

230
00:08:25,460 --> 00:08:27,820
The generalists don't survive.

231
00:08:27,820 --> 00:08:29,560
And our industry is trending that

232
00:08:29,840 --> 00:08:30,140
way.

233
00:08:30,140 --> 00:08:31,520
We're there already for a lot of

234
00:08:31,520 --> 00:08:34,880
you, especially the ones who are
coming in.

235
00:08:34,880 --> 00:08:38,080
And you don't have a circle of
influence.

236
00:08:38,080 --> 00:08:40,960
You don't have established
referral or partner relationships.

237
00:08:40,960 --> 00:08:43,710
You don't have a database.

238
00:08:43,710 --> 00:08:47,410
For a lot of people who have all

239
00:08:47,410 --> 00:08:48,490
that, you're sloped down.

240
00:08:48,490 --> 00:08:50,010
It's a lot.

241
00:08:50,010 --> 00:08:55,090
It's going to be, you're not going
straight downtown, like just, I

242
00:08:55,090 --> 00:08:56,010
got to ski.

243
00:08:56,010 --> 00:08:57,370
You still might be cross -country

244
00:08:57,370 --> 00:09:00,230
skiing for a bit, but you're going
to start trending downhill.

245
00:09:00,230 --> 00:09:00,830
You already are.

246
00:09:00,830 --> 00:09:01,390
I know you are.

247
00:09:01,470 --> 00:09:02,510
You are still losing deals to the
branch.

248
00:09:02,610 --> 00:09:06,390
Because you're trying, and then
you're trying to come up these

249
00:09:06,390 --> 00:09:11,150
little tiny little things that you
go, ah, but we do this and we

250
00:09:11,150 --> 00:09:11,850
could do that.

251
00:09:12,240 --> 00:09:15,100
And we can, ah, it's going to work

252
00:09:15,240 --> 00:09:19,680
for a little bit, but you can
still run that model, which is

253
00:09:19,680 --> 00:09:20,480
really cool.

254
00:09:20,480 --> 00:09:21,900
So for those of you who don't want

255
00:09:22,940 --> 00:09:26,720
to become an expert at something,
that's the silver lining.

256
00:09:26,720 --> 00:09:30,480
But now guess what you got to be
an expert at?

257
00:09:30,480 --> 00:09:32,420
Take a guess.

258
00:09:32,420 --> 00:09:34,140
I'll count to three.

259
00:09:34,140 --> 00:09:35,080
One steamboat, two steamboat,
three steamboat.

260
00:09:35,180 --> 00:09:36,400
You need to become an expert
marketing.

261
00:09:36,400 --> 00:09:39,840
Ah, because now you need more
leads because you can't stand out

262
00:09:39,840 --> 00:09:43,160
from the bank or your competition.

263
00:09:43,160 --> 00:09:44,100
So you're a generalist and you're

264
00:09:44,100 --> 00:09:45,460
going to wow them with customer
service.

265
00:09:45,460 --> 00:09:47,500
You're going to have a lot more
people saying, no, you'll still

266
00:09:47,500 --> 00:09:48,560
get some people going, that's
nice.

267
00:09:48,560 --> 00:09:49,440
I like that.

268
00:09:49,520 --> 00:09:50,580
But it's not going to be as many

269
00:09:50,680 --> 00:09:51,680
as it used to be.

270
00:09:51,680 --> 00:09:53,020
And so if you're coming into the

271
00:09:53,020 --> 00:09:54,040
game newer, this is your reality
already.

272
00:09:54,040 --> 00:09:58,400
You either need to be a specialist
or really good at marketing.

273
00:09:58,960 --> 00:10:02,740
And if you're both, you're going
to knock it out of the park.

274
00:10:02,740 --> 00:10:08,160
And for those who have been around
a while, It's a rude awakening.

275
00:10:08,840 --> 00:10:09,180
Right.

276
00:10:09,180 --> 00:10:12,270
And then what I start seeing is I

277
00:10:12,270 --> 00:10:15,490
had these conversations a lot with
people and we get into it.

278
00:10:15,490 --> 00:10:17,590
And so I need to understand.

279
00:10:17,590 --> 00:10:19,290
And what comes out of these

280
00:10:19,290 --> 00:10:19,810
conversations is this.

281
00:10:19,810 --> 00:10:21,770
This is a big takeaway for me.

282
00:10:21,770 --> 00:10:23,590
There's a lot of brokers who are
just lazy.

283
00:10:23,590 --> 00:10:25,490
I don't know a better way to put
it.

284
00:10:25,490 --> 00:10:27,590
They're just freaking lazy, man.

285
00:10:27,590 --> 00:10:28,010
And looking for shortcuts,

286
00:10:28,010 --> 00:10:28,610
shortcuts on top of shortcuts.

287
00:10:28,850 --> 00:10:29,410
What's the template?

288
00:10:29,410 --> 00:10:32,250
I'm telling you right now, there's
not a fucking template.

289
00:10:32,250 --> 00:10:33,530
Or a fucking CRM.

290
00:10:33,530 --> 00:10:33,910
Yeah, I'm swearing.

291
00:10:33,910 --> 00:10:35,890
It's my podcast and do whatever I
want.

292
00:10:36,030 --> 00:10:37,970
There's not one of those that's
going to change your business or

293
00:10:37,970 --> 00:10:39,530
make you a specialist, an expert
of something.

294
00:10:39,530 --> 00:10:41,220
Like it's none of that matters.

295
00:10:41,220 --> 00:10:41,740
It doesn't.

296
00:10:42,200 --> 00:10:44,580
What you say in the template
email, you know, the CRM, it

297
00:10:44,580 --> 00:10:45,240
doesn't matter.

298
00:10:45,240 --> 00:10:45,980
None of it just matters.

299
00:10:45,980 --> 00:10:48,340
But you spend so much time and
energy focused.

300
00:10:48,340 --> 00:10:51,880
I'm trying to get all that dialed
in thinking those are the pieces

301
00:10:51,880 --> 00:10:55,820
of the puzzle that are going to
bring you the promised land.

302
00:10:55,820 --> 00:10:56,100
It's not.

303
00:10:56,100 --> 00:10:58,560
You got to get your head out of

304
00:10:58,560 --> 00:10:58,860
your ass.

305
00:10:59,180 --> 00:11:00,460
That's what it is.

306
00:11:00,580 --> 00:11:02,300
Marketing, marketing, marketing,
specialist, specialist,

307
00:11:02,300 --> 00:11:02,960
specialist.

308
00:11:03,500 --> 00:11:05,720
That will very quickly bring the

309
00:11:05,720 --> 00:11:08,060
people to you if you can figure it
out.

310
00:11:08,060 --> 00:11:10,680
So now that just becomes your
problem.

311
00:11:10,680 --> 00:11:13,580
I'm not here to be your savior.

312
00:11:13,580 --> 00:11:16,220
I'm not here to give you that

313
00:11:16,220 --> 00:11:16,860
blueprint of stuff.

314
00:11:16,860 --> 00:11:19,340
There are certain people I do that

315
00:11:19,340 --> 00:11:23,640
for, but I'm not here on this.

316
00:11:23,640 --> 00:11:25,100
The podcast isn't long enough.

317
00:11:25,100 --> 00:11:29,020
You'd fall asleep listening to my
monotone voice, but I'm here to

318
00:11:29,020 --> 00:11:31,940
just let you go, like shake you a
bit.

319
00:11:32,120 --> 00:11:34,880
Like imagine you sitting in front
of me, standing there and we're

320
00:11:34,880 --> 00:11:38,490
talking and you're saying the same
thing over and over and wondering

321
00:11:38,490 --> 00:11:40,290
why it's not working and where you
don't have business.

322
00:11:40,290 --> 00:11:44,090
And then it's just me shaking you,
going, you're not a specialist.

323
00:11:44,090 --> 00:11:44,750
You don't do anything special.

324
00:11:44,750 --> 00:11:45,070
You have to.

325
00:11:45,070 --> 00:11:46,590
You aren't good at marketing.

326
00:11:47,250 --> 00:11:52,510
So you have to lean into those

327
00:11:52,510 --> 00:11:53,210
things.

328
00:11:53,210 --> 00:11:56,190
Or you live with the world you

329
00:11:56,190 --> 00:11:58,230
created for yourself, with your
business, and you play within it.

330
00:11:58,230 --> 00:12:00,970
But I'm telling you, if you're
just a generalist and kick -ass

331
00:12:00,970 --> 00:12:05,340
customer service, you need to get
very good at finding more leads,

332
00:12:05,340 --> 00:12:06,180
getting more conversation starts.

333
00:12:06,180 --> 00:12:07,800
So you know what that means?

334
00:12:07,800 --> 00:12:09,340
It means you up your prospect
game.

335
00:12:09,340 --> 00:12:10,520
Prospect, prospect, prospect.

336
00:12:10,520 --> 00:12:12,160
I'm running an experiment group

337
00:12:12,160 --> 00:12:15,080
right now, prospecting, and we're
going two weeks, new school.

338
00:12:15,240 --> 00:12:15,960
prospecting versus old school
prospecting.

339
00:12:15,960 --> 00:12:19,520
And we have, I believe we have
seven agents in it right now.

340
00:12:19,520 --> 00:12:23,420
They're spending two weeks and we
came up with their plan for new

341
00:12:23,420 --> 00:12:26,000
school and they're basically
prospecting at home in their

342
00:12:26,000 --> 00:12:27,040
underwear through DMs, texts, and
phone calls.

343
00:12:27,040 --> 00:12:30,420
And we're tracking results every
single day for two weeks.

344
00:12:31,020 --> 00:12:34,640
Then we're going to transition to
leave your house, go introduce

345
00:12:34,640 --> 00:12:35,300
yourself to people.

346
00:12:35,440 --> 00:12:37,240
And we're going to go to old

347
00:12:37,240 --> 00:12:40,760
school, like leaving your house
stuff back in the day.

348
00:12:40,760 --> 00:12:42,440
And we're going to compare notes.

349
00:12:42,440 --> 00:12:43,080
Here's the thing.

350
00:12:43,080 --> 00:12:47,640
I've been doing this in a group
for many months, like six, seven

351
00:12:47,640 --> 00:12:47,880
months.

352
00:12:47,880 --> 00:12:49,300
The people who stick to it win.

353
00:12:49,300 --> 00:12:52,680
And so if you're sitting there
going, Ryan, I don't know what to

354
00:12:52,680 --> 00:12:52,780
do.

355
00:12:52,780 --> 00:12:53,440
How do I get conversations?

356
00:12:53,440 --> 00:12:55,460
You're not talking to enough
people.

357
00:12:55,580 --> 00:13:00,380
There's only a couple of ways in
this world to get discovery calls.

358
00:13:00,380 --> 00:13:04,750
After discovery call, you're on
your own.

359
00:13:04,750 --> 00:13:07,250
I can't help you.

360
00:13:07,370 --> 00:13:08,450
I don't know how good you are

361
00:13:08,450 --> 00:13:09,430
being a broker.

362
00:13:09,430 --> 00:13:10,850
So that's why I say everything

363
00:13:10,850 --> 00:13:12,570
comes to a discovery call because
you might be awesome to get

364
00:13:12,570 --> 00:13:14,050
discovery calls, but you might.

365
00:13:14,050 --> 00:13:17,330
have a horrible offer, not be good

366
00:13:17,410 --> 00:13:20,890
on a discovery call, and you're
too much of a generalist and your

367
00:13:20,890 --> 00:13:23,850
customer service sucks and you
don't have a way to change from

368
00:13:23,850 --> 00:13:24,750
price and product.

369
00:13:24,750 --> 00:13:25,550
So you never get deals closed.

370
00:13:25,550 --> 00:13:27,130
Like there's two sides to this,
right?

371
00:13:27,130 --> 00:13:29,170
Getting eyeballs on what you do
and then there's converting

372
00:13:29,170 --> 00:13:29,230
eyeballs.

373
00:13:29,230 --> 00:13:31,540
And so I'm talking about getting

374
00:13:31,540 --> 00:13:32,660
eyeballs on what you do now.

375
00:13:32,660 --> 00:13:36,040
So if you don't have enough

376
00:13:36,040 --> 00:13:37,560
discovery calls, there's two ways
to do it.

377
00:13:37,560 --> 00:13:39,700
You talk to more people and you
create content.

378
00:13:39,840 --> 00:13:40,320
There's no other way.

379
00:13:40,320 --> 00:13:41,000
outside of paid ads, which you're

380
00:13:41,000 --> 00:13:42,140
not going to do.

381
00:13:42,140 --> 00:13:45,200
So you have one of those two ways.

382
00:13:45,200 --> 00:13:46,140
Tell me there's another way,
please.

383
00:13:46,140 --> 00:13:47,200
There's not.

384
00:13:47,200 --> 00:13:49,560
Talk to people, could be referral

385
00:13:49,560 --> 00:13:51,780
partners, clients, and create
content because content will bring

386
00:13:51,780 --> 00:13:53,640
eyeballs in what you do and will
bring in book calls.

387
00:13:53,640 --> 00:13:55,820
But there's one thing with both of
those.

388
00:13:55,820 --> 00:13:56,540
It only works.

389
00:13:56,540 --> 00:13:58,440
And you need one thing for both of

390
00:13:58,440 --> 00:13:59,320
them to work.

391
00:13:59,320 --> 00:14:00,920
And then they work phenomenal.

392
00:14:01,160 --> 00:14:03,800
But everyone gets lazy and they
take shortcuts and they quit.

393
00:14:03,800 --> 00:14:04,700
And then they complain.

394
00:14:04,700 --> 00:14:05,240
The industry sucks.

395
00:14:05,240 --> 00:14:06,100
Banks are crushing me.

396
00:14:06,100 --> 00:14:07,840
How am I going to do this three

397
00:14:07,840 --> 00:14:10,800
-year comp I'm working on?
And then you start grinding your

398
00:14:10,800 --> 00:14:12,680
brokerage or your team lead and
all your expenses.

399
00:14:12,680 --> 00:14:16,040
And you go, hey, I'm going to go
figure all that out.

400
00:14:16,040 --> 00:14:17,520
I'm spending too much money over
here.

401
00:14:17,520 --> 00:14:18,680
My splits aren't good and blah,
blah, blah.

402
00:14:18,680 --> 00:14:21,980
Instead of realizing, looking
yourself in the mirror, that it's

403
00:14:21,980 --> 00:14:22,720
my own fucking issue.

404
00:14:22,720 --> 00:14:25,840
It has nothing to do with them and

405
00:14:25,840 --> 00:14:26,400
those thirds.

406
00:14:26,890 --> 00:14:28,130
priority providers, third service

407
00:14:28,130 --> 00:14:28,950
providers, nothing to do with
that.

408
00:14:28,950 --> 00:14:29,710
It's me.

409
00:14:29,710 --> 00:14:30,570
I'm looking for shortcuts and I'm

410
00:14:30,570 --> 00:14:30,910
lazy.

411
00:14:31,110 --> 00:14:32,550
So what's the common trait you

412
00:14:33,010 --> 00:14:37,490
need between those two things?
To be successful at getting book

413
00:14:37,670 --> 00:14:40,530
calls from talking to people and
being successful at getting book

414
00:14:40,530 --> 00:14:41,470
calls from creating content on
social.

415
00:14:41,470 --> 00:14:43,690
What is it?
You know the answer.

416
00:14:43,690 --> 00:14:46,510
Once again, one steamboat, two
steamboat, three steamboat,

417
00:14:46,510 --> 00:14:46,990
consistency.

418
00:14:47,910 --> 00:14:48,350
Consistency.

419
00:14:48,350 --> 00:14:51,130
So in this experiment group I'm
running with seven people, started

420
00:14:51,230 --> 00:14:53,930
off, we said, hey, who here has
prospected before?

421
00:14:53,930 --> 00:14:54,710
Everybody, yes.

422
00:14:54,710 --> 00:14:55,710
Puts their hand up.

423
00:14:55,710 --> 00:14:59,590
I said, who here has prospected
more than five days in a row?

424
00:14:59,590 --> 00:15:00,090
One person.

425
00:15:00,090 --> 00:15:00,990
Who here has prospected more than

426
00:15:00,990 --> 00:15:01,730
30 days?
Nobody.

427
00:15:01,730 --> 00:15:02,110
Okay.

428
00:15:02,110 --> 00:15:03,550
Didn't you see a theme here?

429
00:15:03,550 --> 00:15:08,110
So I start going around the group
and going, hey, what did you do

430
00:15:08,110 --> 00:15:09,370
when you prospect?
And the person's like, oh, I

431
00:15:09,370 --> 00:15:09,810
prospect realtors.

432
00:15:09,810 --> 00:15:11,390
And I reached out to them and I

433
00:15:11,490 --> 00:15:15,130
followed up with them and I stayed
in front of them and blah, blah,

434
00:15:15,130 --> 00:15:15,590
blah, blah, blah.

435
00:15:15,750 --> 00:15:18,910
I tried to get them and I'd show

436
00:15:18,910 --> 00:15:19,370
them here.

437
00:15:19,370 --> 00:15:21,860
Here's the three value ads I do.

438
00:15:21,860 --> 00:15:24,960
And do you want to meet?
I'm like, how did it work?

439
00:15:25,120 --> 00:15:26,740
It's like transform my business.

440
00:15:26,740 --> 00:15:27,920
I'm like, really?

441
00:15:27,920 --> 00:15:28,900
Yeah, it was great.

442
00:15:28,900 --> 00:15:30,580
Lots of business from a still

443
00:15:31,440 --> 00:15:32,000
relationship.

444
00:15:32,000 --> 00:15:33,380
I'm like, cool.

445
00:15:33,380 --> 00:15:37,480
I'm like, so what do you?
We're going to do in this

446
00:15:37,480 --> 00:15:39,360
experiment group where we're doing
old school.

447
00:15:39,360 --> 00:15:42,320
He's like, I don't know, whatever
you say.

448
00:15:42,320 --> 00:15:47,380
I'm like, well, why don't you just
go do that?

449
00:15:47,380 --> 00:15:51,420
He's like, oh yeah.

450
00:15:51,420 --> 00:15:52,840
And you know, if you're listening,

451
00:15:52,840 --> 00:15:55,300
you know who you are.

452
00:15:55,400 --> 00:15:56,860
You're like, ah, yeah, you're

453
00:15:56,860 --> 00:15:57,360
right.

454
00:15:57,360 --> 00:16:01,520
Why do you need a new thing?

455
00:16:01,520 --> 00:16:03,200
Like go do that thing.

456
00:16:03,200 --> 00:16:08,300
Like there's no magic here.

457
00:16:08,300 --> 00:16:14,040
And so you can come up with hooks
and different ways to ensure

458
00:16:14,040 --> 00:16:15,680
that's the nuances.

459
00:16:16,780 --> 00:16:19,210
of learning a new skill, which is

460
00:16:19,890 --> 00:16:21,750
understanding how to solve
someone's problem, the solution

461
00:16:21,750 --> 00:16:25,210
you give them, what's their
outcome, and you never talk about

462
00:16:25,470 --> 00:16:26,990
you and all the fancy things you
do.

463
00:16:26,990 --> 00:16:28,170
It's what, how are you benefiting
them?

464
00:16:28,170 --> 00:16:29,130
How do they benefit by partnering
with you?

465
00:16:29,130 --> 00:16:30,930
And whatever that looks like, from
a client to a referral partner.

466
00:16:30,990 --> 00:16:31,670
But we forget that.

467
00:16:31,670 --> 00:16:32,390
And instead of learning that

468
00:16:32,390 --> 00:16:34,350
science behind that, the art of
selling, instead of learning that,

469
00:16:34,550 --> 00:16:36,390
we just... going to do other
things in our business that make

470
00:16:36,390 --> 00:16:38,570
us feel busy, but we never moved a
needle.

471
00:16:38,690 --> 00:16:45,410
So I see a lot of people who show
up to a lot of my trainings, which

472
00:16:45,410 --> 00:16:45,690
is great.

473
00:16:45,690 --> 00:16:47,310
And thank you for the support and

474
00:16:47,310 --> 00:16:48,070
believing in me.

475
00:16:48,070 --> 00:16:49,430
There's a lot of you, which I'm

476
00:16:49,430 --> 00:16:50,310
not going to say in the moment.

477
00:16:50,410 --> 00:16:50,850
It's not my place.

478
00:16:50,850 --> 00:16:55,250
If you, I'll tell you this, if you
were on team Wiley, you would not

479
00:16:55,250 --> 00:16:55,990
be showing up to those.

480
00:16:55,990 --> 00:16:59,850
I would be like, don't show up.

481
00:16:59,850 --> 00:17:00,070
Right.

482
00:17:01,830 --> 00:17:02,530
Because I know intimately what

483
00:17:02,530 --> 00:17:04,170
everyone on the team needs in
their business.

484
00:17:04,410 --> 00:17:05,690
I know what they don't.

485
00:17:06,829 --> 00:17:08,130
And it's my job to deflect a lot

486
00:17:08,130 --> 00:17:11,630
of the crap to keep them focused
on certain things and move the

487
00:17:11,630 --> 00:17:13,950
needle and build a boring mortgage
business.

488
00:17:13,950 --> 00:17:16,510
And so I go through every single
week.

489
00:17:16,510 --> 00:17:18,990
I go through all the training that
I'm doing out there in the

490
00:17:18,990 --> 00:17:19,810
universe with the team.

491
00:17:19,810 --> 00:17:21,990
And I go, I'm doing this and this

492
00:17:22,069 --> 00:17:22,290
and this.

493
00:17:22,290 --> 00:17:23,710
We have our own internal program.

494
00:17:23,810 --> 00:17:25,410
But I go, don't come here.

495
00:17:25,410 --> 00:17:26,170
Don't come here.

496
00:17:26,170 --> 00:17:31,750
If you maybe come here, if it's a
hobby and you want to do it at

497
00:17:31,990 --> 00:17:33,610
nighttime, but don't come here.

498
00:17:33,610 --> 00:17:37,090
And so if you'll notice.

499
00:17:37,530 --> 00:17:39,350
My team, they're never, why would
you know this?

500
00:17:39,350 --> 00:17:42,210
But they don't show up to the
trainings I'm doing.

501
00:17:42,210 --> 00:17:45,070
Internally, we have our own
program, which they do.

502
00:17:45,070 --> 00:17:48,970
But it's not the stuff that we
train that you might have seen.

503
00:17:48,970 --> 00:17:52,630
And so they don't show up to that.

504
00:17:52,630 --> 00:17:55,290
And it's because there's no, it

505
00:17:55,290 --> 00:17:55,950
doesn't move the needle.

506
00:17:55,950 --> 00:17:56,290
It's an idea.

507
00:17:56,290 --> 00:17:56,810
It's a concept.

508
00:17:56,810 --> 00:18:00,290
I want you to show up to one or

509
00:18:00,290 --> 00:18:00,410
two.

510
00:18:00,410 --> 00:18:03,510
But then I want you to go do the

511
00:18:03,510 --> 00:18:03,810
freaking work.

512
00:18:03,810 --> 00:18:05,210
And you shouldn't have the time to

513
00:18:05,210 --> 00:18:08,250
show up to all these things.

514
00:18:08,250 --> 00:18:09,810
You should be sitting there.

515
00:18:09,810 --> 00:18:10,570
starting conversations or creating
content.

516
00:18:10,570 --> 00:18:13,710
It shouldn't be listening to
someone else talk about what you

517
00:18:13,710 --> 00:18:14,290
should go do.

518
00:18:14,290 --> 00:18:16,890
You go and pick your two, three

519
00:18:16,890 --> 00:18:19,450
things you're going to do, your
one or two things, and then you go

520
00:18:19,450 --> 00:18:21,450
do that and then shouldn't see
you.

521
00:18:21,450 --> 00:18:23,710
And so it's really cool because in
the training I'm doing the last

522
00:18:23,710 --> 00:18:26,350
couple of years, I'll go through
these flows of where I'll see a

523
00:18:26,350 --> 00:18:28,410
bunch of people and then all of a
sudden I won't see them and

524
00:18:28,410 --> 00:18:29,730
they'll come back.

525
00:18:29,730 --> 00:18:31,230
And I forget because there's

526
00:18:31,230 --> 00:18:33,390
hundreds and hundreds, if not over
a thousand now, and they'll come

527
00:18:33,390 --> 00:18:34,070
back and I'll be like, hey.

528
00:18:34,070 --> 00:18:34,990
Haven't seen you in a while.

529
00:18:35,430 --> 00:18:36,130
They're like, yeah.

530
00:18:36,130 --> 00:18:38,780
And I'm like, why haven't I seen

531
00:18:38,780 --> 00:18:40,140
you in a while?
That's usually a good thing.

532
00:18:40,140 --> 00:18:41,240
And they're like, because it's
working.

533
00:18:41,240 --> 00:18:42,720
And I'm like, ah, exactly.

534
00:18:42,720 --> 00:18:42,840
Right.

535
00:18:42,840 --> 00:18:43,760
We have professional learners.

536
00:18:44,240 --> 00:18:45,520
A lot of you have filled this

537
00:18:45,520 --> 00:18:45,800
class.

538
00:18:45,800 --> 00:18:47,040
Entrepreneurs, I think they call

539
00:18:47,660 --> 00:18:48,020
them.

540
00:18:48,020 --> 00:18:49,440
Maybe there's a different word for

541
00:18:49,440 --> 00:18:50,140
it, but right.

542
00:18:50,140 --> 00:18:52,940
Building a business is extremely

543
00:18:52,940 --> 00:18:55,060
hard, but there's this whole class
of people that have been around

544
00:18:55,060 --> 00:18:55,360
for years now.

545
00:18:55,360 --> 00:18:56,080
Entrepreneurs where they dip their

546
00:18:56,240 --> 00:18:57,340
toe in, but they never get muddy.

547
00:18:57,340 --> 00:18:59,480
They're like, ooh, the water's too

548
00:18:59,480 --> 00:18:59,900
cold.

549
00:18:59,900 --> 00:19:01,480
Or I just got my nails done.

550
00:19:01,480 --> 00:19:02,920
Can't get in there.

551
00:19:02,920 --> 00:19:06,110
Or there's always an excuse.

552
00:19:06,110 --> 00:19:10,410
This is a reality podcast here.

553
00:19:10,410 --> 00:19:12,090
That's why I'm coming at you.

554
00:19:12,090 --> 00:19:13,430
I'm coming at you hard.

555
00:19:13,430 --> 00:19:15,010
Because I see it all the time,

556
00:19:15,130 --> 00:19:15,950
right?
I see the same thing.

557
00:19:15,950 --> 00:19:16,690
I see the cycles.

558
00:19:16,690 --> 00:19:18,550
So I love when I see people and

559
00:19:18,550 --> 00:19:19,330
then I don't.

560
00:19:19,330 --> 00:19:21,010
As much as I'd love to stay

561
00:19:21,010 --> 00:19:21,990
connected to them, it's always
nice.

562
00:19:21,990 --> 00:19:24,390
Because I know that their business
is better off now and they're

563
00:19:24,390 --> 00:19:24,670
doing well.

564
00:19:24,670 --> 00:19:25,550
And then they'll pluck back in

565
00:19:25,550 --> 00:19:26,110
when they need help with the
problem.

566
00:19:26,110 --> 00:19:26,650
And I love it.

567
00:19:26,650 --> 00:19:26,770
Awesome.

568
00:19:26,770 --> 00:19:28,530
That's the cadence that we should
have, right?

569
00:19:28,530 --> 00:19:31,430
So this is me telling you from
what I see and what I'm seeing

570
00:19:31,430 --> 00:19:34,030
live, real time, okay, now we know
we need more leads.

571
00:19:34,030 --> 00:19:35,290
So the other part is the
specialist part.

572
00:19:35,290 --> 00:19:37,230
How do I become a specialist?
Because if you're getting 40 leads

573
00:19:37,230 --> 00:19:42,050
or 50 leads a month and you don't
have the ability to go get more,

574
00:19:42,470 --> 00:19:44,930
how do we maximize how many we
close out of that?

575
00:19:44,930 --> 00:19:49,510
Well, if you are not a specialist
of some sort, then That's really

576
00:19:49,510 --> 00:19:49,730
hard.

577
00:19:49,730 --> 00:19:52,650
That's really, if you're always up

578
00:19:52,650 --> 00:19:56,470
against it, if you're up against
the rate, always someone's low,

579
00:19:56,470 --> 00:19:57,090
you'll never win that.

580
00:19:57,090 --> 00:19:59,650
You know this, yet you keep going

581
00:19:59,650 --> 00:20:00,010
back there.

582
00:20:00,010 --> 00:20:02,030
So instead of trying to figure out

583
00:20:02,030 --> 00:20:06,210
the problem you have and solve it,
you keep playing the game.

584
00:20:06,210 --> 00:20:08,290
And what's that saying?
I've said this many times,

585
00:20:08,970 --> 00:20:11,250
probably say it wrong every time.

586
00:20:11,250 --> 00:20:13,590
But if you fight a pig, everyone

587
00:20:13,590 --> 00:20:13,970
gets money.

588
00:20:13,970 --> 00:20:14,890
And that's what happens if you're

589
00:20:14,890 --> 00:20:15,770
competing into banks all the time.

590
00:20:15,770 --> 00:20:16,290
Everyone's getting money.

591
00:20:16,570 --> 00:20:17,510
No one leaves that situation
happy.

592
00:20:17,670 --> 00:20:18,390
Everyone's a little irritated.

593
00:20:18,550 --> 00:20:19,870
That is the essence of a deal, but

594
00:20:19,870 --> 00:20:21,470
not in the way I'm talking about
it.

595
00:20:21,470 --> 00:20:24,690
So you want to keep competing with
the banks and playing that game

596
00:20:24,690 --> 00:20:26,390
instead of trying to become a
specialist or awesome at marketing

597
00:20:26,390 --> 00:20:27,750
or both, a hybrid of both, which
would be phenomenal.

598
00:20:27,750 --> 00:20:29,130
Here's a fun fact for you.

599
00:20:29,130 --> 00:20:31,710
Tip of the day, becoming the

600
00:20:31,710 --> 00:20:32,650
specialist becomes your marketing.

601
00:20:32,650 --> 00:20:35,990
Ah, I was a specialist showing

602
00:20:35,990 --> 00:20:38,310
people to buy their first
investment property.

603
00:20:38,310 --> 00:20:39,250
I had three hooks.

604
00:20:39,250 --> 00:20:42,810
Retire five years early, pay off

605
00:20:42,810 --> 00:20:45,170
your mortgage in 10 years, send
your kids to college and come out

606
00:20:45,170 --> 00:20:45,630
debt free.

607
00:20:45,630 --> 00:20:46,150
That was my marketing.

608
00:20:46,150 --> 00:20:47,570
So that's what I used.

609
00:20:47,570 --> 00:20:49,070
That's all I talked about.

610
00:20:49,070 --> 00:20:51,890
One leads into the other, right?
So how do you become a specialist?

611
00:20:52,090 --> 00:20:53,270
Well, come on now.

612
00:20:53,270 --> 00:20:53,910
Come on.

613
00:20:53,910 --> 00:20:55,810
I can't tell you all that.

614
00:20:56,010 --> 00:20:57,290
I can't give you everything.

615
00:20:57,290 --> 00:21:03,480
I've talked about it so many
times, but you do need to change

616
00:21:03,480 --> 00:21:05,720
the conversation from price and
product.

617
00:21:05,720 --> 00:21:08,280
And so I'll give you this.

618
00:21:08,280 --> 00:21:10,900
So there's a guy, he's an owner in

619
00:21:10,900 --> 00:21:11,940
Strategy Hub.

620
00:21:11,940 --> 00:21:13,360
He's a coach, Nick Cox.

621
00:21:13,560 --> 00:21:14,380
He's awesome.

622
00:21:14,380 --> 00:21:14,980
Very, very smart.

623
00:21:14,980 --> 00:21:18,760
The more I get to hang out with
him and whatnot, I just realize

624
00:21:18,760 --> 00:21:20,200
he's very well -spoken, well put
together.

625
00:21:20,200 --> 00:21:22,320
He sees things the right way.

626
00:21:22,320 --> 00:21:24,460
If I went back to brokering, I

627
00:21:24,460 --> 00:21:28,930
would use a lot of the elements
he's using.

628
00:21:28,930 --> 00:21:29,510
I love it.

629
00:21:29,510 --> 00:21:31,590
And so I'm going to just give you

630
00:21:31,590 --> 00:21:31,970
an example.

631
00:21:32,350 --> 00:21:34,230
Doesn't mean you go down this

632
00:21:35,030 --> 00:21:37,130
road, but here's the example.

633
00:21:37,130 --> 00:21:38,410
And I'm leaning into this, by the

634
00:21:38,410 --> 00:21:38,690
way.

635
00:21:38,690 --> 00:21:40,610
This is there's parts of this I'm

636
00:21:40,810 --> 00:21:42,730
leaning into big time,
understanding all the mechanics

637
00:21:42,730 --> 00:21:45,150
and then building marketing around
it from emails and social media

638
00:21:45,150 --> 00:21:45,510
and webinars.

639
00:21:45,510 --> 00:21:48,990
And that's what I'm going to be

640
00:21:49,350 --> 00:21:52,430
training on in Team Wiley because
I see that as the future.

641
00:21:52,430 --> 00:21:54,870
of brokering is becoming a
specialist and then wrapping

642
00:21:54,870 --> 00:21:56,230
marketing around it.

643
00:21:56,230 --> 00:22:00,060
And so just an example, here's the

644
00:22:00,060 --> 00:22:01,560
spiel that he uses, and it's
awesome.

645
00:22:01,560 --> 00:22:02,540
He has three buckets.

646
00:22:02,540 --> 00:22:05,200
He can do all the regular mortgage

647
00:22:05,200 --> 00:22:06,360
stuff that everyone else can do.

648
00:22:06,720 --> 00:22:08,300
So push that off to the side.

649
00:22:08,300 --> 00:22:10,300
It's his three buckets, people he
deals with.

650
00:22:10,480 --> 00:22:12,560
So he gets on the conversation,
and I'm paraphrasing here.

651
00:22:12,560 --> 00:22:14,260
He does it way better.

652
00:22:14,260 --> 00:22:16,300
But it's something like this.

653
00:22:16,300 --> 00:22:18,680
Hey, I'm sure you would agree.

654
00:22:18,680 --> 00:22:21,140
So taxes and interest are your two

655
00:22:21,140 --> 00:22:22,480
biggest costs in life, money
-wise.

656
00:22:22,480 --> 00:22:24,200
Two biggest expenses, right?
Tax and interest.

657
00:22:24,200 --> 00:22:24,720
Sure, yeah, 100%.

658
00:22:24,720 --> 00:22:25,860
And there's stuff we can't avoid,

659
00:22:25,860 --> 00:22:28,360
right?
They're there no matter if we like

660
00:22:28,860 --> 00:22:29,780
it or not.

661
00:22:29,780 --> 00:22:30,680
We have to deal with it.

662
00:22:30,680 --> 00:22:36,320
And so he's, on a side note, he's
not convincing them to go buy an

663
00:22:38,060 --> 00:22:38,720
investment property.

664
00:22:38,720 --> 00:22:39,860
That's like something they'd have

665
00:22:39,860 --> 00:22:43,400
to wrap their head around like
when I was doing it and buy into

666
00:22:43,400 --> 00:22:45,280
it and blah, blah, blah.

667
00:22:45,280 --> 00:22:46,400
He's not doing that.

668
00:22:46,400 --> 00:22:48,960
He's going, let's deal with the
cards we're dealt.

669
00:22:48,960 --> 00:22:50,820
We're dealt with the tax and the
interest we're paying.

670
00:22:51,290 --> 00:22:53,790
So why don't we optimize those?
Why don't we pay less of both?

671
00:22:53,790 --> 00:22:55,050
And that's what I do.

672
00:22:55,050 --> 00:22:56,630
I show you how to do that.

673
00:22:56,970 --> 00:23:01,310
And then he goes, my one bucket is
if they have a rental property, I

674
00:23:01,310 --> 00:23:02,170
do cash damning.

675
00:23:02,170 --> 00:23:05,490
There's no way I don't win that

676
00:23:05,490 --> 00:23:05,670
deal.

677
00:23:05,670 --> 00:23:09,070
I will not lose that deal if they

678
00:23:09,070 --> 00:23:11,350
have a subject or non -subject
rental.

679
00:23:11,350 --> 00:23:12,530
And I will get them to cash down.

680
00:23:12,530 --> 00:23:14,630
I'll save them hundreds of

681
00:23:14,630 --> 00:23:15,270
thousands of dollars.

682
00:23:15,640 --> 00:23:17,480
And the industry doesn't matter

683
00:23:17,480 --> 00:23:17,960
anymore.

684
00:23:17,960 --> 00:23:19,640
So boom, that's bucket number one.

685
00:23:20,140 --> 00:23:21,140
Rental property, subject or non
-subject.

686
00:23:21,260 --> 00:23:25,300
If they want to go buy a rental
and bring it on, sure.

687
00:23:25,300 --> 00:23:26,720
Gasoline in the fire, that's
awesome.

688
00:23:26,720 --> 00:23:28,200
But he's dealing with the cards
they're dealt already.

689
00:23:28,200 --> 00:23:29,420
OK, so that.

690
00:23:29,420 --> 00:23:30,360
Number two, if they have

691
00:23:30,980 --> 00:23:33,020
unregistered assets of 50K or
higher, he's like, boom, I throw

692
00:23:33,020 --> 00:23:33,840
them into debt swap.

693
00:23:34,000 --> 00:23:35,820
So they go right into debt swap

694
00:23:35,820 --> 00:23:36,020
situation.

695
00:23:36,020 --> 00:23:37,640
And there you go.

696
00:23:37,640 --> 00:23:41,720
My interest rate, their mortgage
can be paid off faster.

697
00:23:41,720 --> 00:23:44,660
Net effective interest rates lower
than anything they can get.

698
00:23:44,660 --> 00:23:46,780
And I win the deal.

699
00:23:46,780 --> 00:23:51,180
And then last but not least is if

700
00:23:51,180 --> 00:23:54,240
someone comes in and they have X
income and their expenses are

701
00:23:54,240 --> 00:23:54,440
lower.

702
00:23:54,440 --> 00:23:55,180
So let's just say example, someone

703
00:23:55,180 --> 00:23:58,100
makes 20 grand a month, family,
household, whatever, 20 grand of

704
00:23:58,100 --> 00:24:00,360
income coming in and their
expenses going out or eight or

705
00:24:00,360 --> 00:24:01,900
nine or 10.

706
00:24:01,900 --> 00:24:04,160
I don't know what the magic number

707
00:24:04,160 --> 00:24:05,460
is there, but let's just say it's
10 ,000.

708
00:24:05,460 --> 00:24:08,620
They have $10 ,000, calls it a
delta, delta of 10K difference,

709
00:24:08,620 --> 00:24:10,660
sitting in bank accounts at
certain points in time before you

710
00:24:10,940 --> 00:24:12,420
shift them around and do what you
do.

711
00:24:12,420 --> 00:24:15,440
He uses the man one product, the
power of the paycheck.

712
00:24:15,440 --> 00:24:17,280
And that's what he called it.

713
00:24:18,160 --> 00:24:20,240
I love that angle on it, the power

714
00:24:20,240 --> 00:24:20,660
of the paycheck.

715
00:24:20,660 --> 00:24:21,660
So that's what I'm learning right

716
00:24:21,660 --> 00:24:21,860
now.

717
00:24:21,860 --> 00:24:22,600
And it's like, whoa, mind -blowing

718
00:24:22,600 --> 00:24:22,800
stuff.

719
00:24:22,800 --> 00:24:25,560
And now I'm going to put the

720
00:24:25,560 --> 00:24:25,860
marketing around.

721
00:24:25,860 --> 00:24:27,060
So he's got the three buckets, and

722
00:24:27,060 --> 00:24:28,440
he never loses deals.

723
00:24:28,440 --> 00:24:28,800
He's always competing.

724
00:24:28,800 --> 00:24:31,100
You're not going to get away from
competing on rate.

725
00:24:31,100 --> 00:24:32,160
He relishes the idea when they
come in.

726
00:24:32,160 --> 00:24:34,940
So he's got all his regular
repertoire, like a lot of you

727
00:24:35,200 --> 00:24:35,540
have.

728
00:24:35,540 --> 00:24:37,160
And then he's got those three

729
00:24:37,160 --> 00:24:37,600
buckets.

730
00:24:38,160 --> 00:24:39,500
Rental, unregistered assets, power

731
00:24:39,880 --> 00:24:41,200
of the paycheck, delta on the
paycheck to expenses.

732
00:24:41,200 --> 00:24:41,400
Phenomenal.

733
00:24:41,400 --> 00:24:43,540
So do they work every time?

734
00:24:43,540 --> 00:24:45,700
No. Is he closing more deals than
he's ever closed before?

735
00:24:45,700 --> 00:24:45,880
Yeah.

736
00:24:45,880 --> 00:24:46,480
Hell yeah.

737
00:24:46,700 --> 00:24:49,940
So it's just different, right?
That's becoming a specialist.

738
00:24:49,940 --> 00:24:53,460
It doesn't have to be those.

739
00:24:53,820 --> 00:24:55,680
I'm giving you an example.

740
00:24:55,680 --> 00:24:57,940
So what are you?
That's where I go to.

741
00:24:57,940 --> 00:24:59,740
I'm just like, level up with
yourself.

742
00:24:59,740 --> 00:25:01,180
Level up with yourself.

743
00:25:01,180 --> 00:25:02,120
What are you doing?

744
00:25:02,120 --> 00:25:02,220
Right.

745
00:25:02,220 --> 00:25:04,520
I see a lot of people half assing

746
00:25:04,520 --> 00:25:04,780
it.

747
00:25:04,780 --> 00:25:06,220
And they're caught there and

748
00:25:06,220 --> 00:25:07,340
they're playing the blame game.

749
00:25:07,340 --> 00:25:08,260
My kid's good at that.

750
00:25:08,260 --> 00:25:09,440
He's nine.

751
00:25:09,440 --> 00:25:10,260
It's never his fault.

752
00:25:10,260 --> 00:25:13,100
The goal goes in or doesn't go in
or the homework.

753
00:25:13,100 --> 00:25:13,940
It's never his fault.

754
00:25:14,300 --> 00:25:16,540
Don't be my nine year old kid.

755
00:25:16,660 --> 00:25:18,020
It's your fault.

756
00:25:18,020 --> 00:25:19,140
My favorite sayings is three words

757
00:25:19,140 --> 00:25:21,000
I learned early on in my career.

758
00:25:21,000 --> 00:25:22,540
And I still use it like minimum

759
00:25:22,540 --> 00:25:22,640
weekly.

760
00:25:22,640 --> 00:25:23,560
changed my perspective on

761
00:25:23,640 --> 00:25:24,920
anything, on everything is nobody
is coming.

762
00:25:24,920 --> 00:25:25,380
Nobody's coming.

763
00:25:25,380 --> 00:25:26,900
Your broker owner's not coming to

764
00:25:26,900 --> 00:25:27,140
help.

765
00:25:27,300 --> 00:25:29,400
Your team lead's not coming.

766
00:25:29,400 --> 00:25:30,220
It's not their responsibility.

767
00:25:30,220 --> 00:25:31,860
Put your big boy, big girl pants

768
00:25:31,860 --> 00:25:32,460
on and buck up.

769
00:25:32,460 --> 00:25:34,220
They say cowboy up in Alberta,

770
00:25:34,220 --> 00:25:34,520
right?
Let's go.

771
00:25:34,520 --> 00:25:37,470
What are you doing?
So a lot of you are dabbling

772
00:25:37,470 --> 00:25:39,170
around, right?
And I'm just, I'm getting to it.

773
00:25:39,230 --> 00:25:42,270
I'm like, Cut out all the fluff
out there and become good at

774
00:25:42,390 --> 00:25:44,850
marketing or become a specialist
or buff.

775
00:25:44,850 --> 00:25:46,810
Everyone else is in no man's land.

776
00:25:46,810 --> 00:25:48,530
And so you can have your fluffy

777
00:25:48,530 --> 00:25:53,510
client journeys and you can have
your, you don't have a business 18

778
00:25:53,510 --> 00:25:53,890
months from now.

779
00:25:53,890 --> 00:25:55,190
Three years from now, you're

780
00:25:55,910 --> 00:25:57,850
sitting there going, holy shit,
that didn't work.

781
00:25:57,850 --> 00:25:58,030
Right?
Wow.

782
00:25:58,050 --> 00:26:00,810
There's certain things that will
always stand the test of time.

783
00:26:00,810 --> 00:26:07,460
Certain things in your journey
that will, but come on, you have

784
00:26:07,460 --> 00:26:10,080
to be better.

785
00:26:10,080 --> 00:26:12,080
We owe it to ourselves to be

786
00:26:12,080 --> 00:26:12,280
better.

787
00:26:12,280 --> 00:26:13,260
It's crazy.

788
00:26:13,500 --> 00:26:17,680
This is one of the only industries
out there where you don't have to

789
00:26:17,680 --> 00:26:18,180
up your game.

790
00:26:18,180 --> 00:26:20,340
Even realtors, financial advisors,

791
00:26:20,820 --> 00:26:23,900
these guys, they're mandated to
take courses to become better at

792
00:26:23,900 --> 00:26:25,540
their job and produce better
results to their clients.

793
00:26:25,540 --> 00:26:26,020
We're not.

794
00:26:26,680 --> 00:26:28,700
We take the bullshit course every

795
00:26:28,700 --> 00:26:30,580
two years about your licensing,
where most people just fly through

796
00:26:30,980 --> 00:26:31,420
it.

797
00:26:31,420 --> 00:26:33,520
It's a cash grab.

798
00:26:33,520 --> 00:26:33,720
It's bullshit.

799
00:26:33,720 --> 00:26:35,830
That doesn't make me a better

800
00:26:35,830 --> 00:26:36,310
mortgage broker.

801
00:26:36,310 --> 00:26:38,750
Are you kidding me?

802
00:26:38,750 --> 00:26:42,450
So you have to go off the beaten
path, which that's why I have a

803
00:26:42,850 --> 00:26:43,650
training company.

804
00:26:44,130 --> 00:26:45,950
We help people with that.

805
00:26:45,950 --> 00:26:47,210
That's why we'll always be here.

806
00:26:47,210 --> 00:26:48,910
So I'm cool for that.

807
00:26:48,910 --> 00:26:53,210
I'm thankful that the industry
lets us all down, but you have to

808
00:26:53,210 --> 00:26:57,630
come to terms with that, right?
So I think that's it.

809
00:26:57,630 --> 00:27:01,570
Now I'm just kind of being
redundant and going in circles

810
00:27:01,570 --> 00:27:02,210
here.

811
00:27:02,210 --> 00:27:04,300
You get the gist.

812
00:27:04,300 --> 00:27:06,320
I'm all fired up now.

813
00:27:06,320 --> 00:27:11,000
I have to go into some training

814
00:27:11,000 --> 00:27:13,140
now, but poor people going in
there.

815
00:27:13,140 --> 00:27:13,860
It's easy.

816
00:27:13,860 --> 00:27:14,480
It's database mining.

817
00:27:14,480 --> 00:27:15,480
So we're good.

818
00:27:16,060 --> 00:27:18,180
That's no reason to get jacked up

819
00:27:18,180 --> 00:27:23,080
in there unless we find a bunch of
money for people.

820
00:27:23,860 --> 00:27:24,080
Okay.

821
00:27:24,280 --> 00:27:25,920
That's it, kids.

822
00:27:25,920 --> 00:27:27,480
Hopefully you enjoyed that.

823
00:27:27,480 --> 00:27:27,980
I'm back more regular now.

824
00:27:27,980 --> 00:27:29,240
So I'm back, baby.

825
00:27:29,240 --> 00:27:30,480
As they say, Seinfeld reference.

826
00:27:30,480 --> 00:27:30,960
That's it, kids.

827
00:27:31,200 --> 00:27:32,020
Enjoy your day.

828
00:27:32,020 --> 00:27:32,600
Wiley out.