Loan Officer Sales Training with The Mortgage Calculator

Loan Officer Sales Training 04/15/24: Staying Motivated as a Loan Officer

The Mortgage Calculator

In the fast-paced world of mortgage lending, maintaining motivation is key to success. Join us on Loan Officer Sales Training as we delve into the art of staying motivated as a loan officer.

In this episode, we explore effective strategies and techniques to keep your spirits high and your productivity soaring. From setting meaningful goals to cultivating a positive mindset, our expert guests share invaluable insights to help you overcome challenges and achieve your professional aspirations.

Whether you're facing a slump or striving for continuous growth, tune in to discover how to stay motivated and inspired in your journey as a loan officer. Don't miss this opportunity to reignite your passion and drive for success!

For more episodes visit:
https://themortgagecalculator.com/Page/Loan-Officer-Sales-Training-Podcast

About The Mortgage Calculator:

The Mortgage Calculator is a licensed Mortgage Lender (NMLS #2377459) that specializes in using technology to enable borrowers to access Conventional, FHA, VA, and USDA Programs, as well as over 5,000 Non-QM mortgage loan programs using alternative income documentation! 

Using The Mortgage Calculator proprietary technology, borrowers can instantly price and quote thousands of mortgage loan programs in just a few clicks. The Mortgage Calculator technology also enables borrowers to instantly complete a full loan application and upload documents to our AI powered software to get qualified in just minutes!

Our team of over 350 licensed Mortgage Loan Originators can assist our customers with Conventional, FHA, VA and USDA mortgages as well as access thousands of mortgage programs using Alternative Income Documentation such as Bank Statement Mortgages, P&L Mortgages, Asset Based Mortgage Programs, No Ratio CDFI Loan Programs, DSCR Investor Mortgages, Commercial Mortgages, Fix and Flip Mortgages and thousands more!

Our Mortgage Loan Originators are trained to be loan consultants to guide borrowers throughout the entire loan process. A licensed Loan Officer is only a phone call or zoom meeting away and always available to assist borrowers throughout the loan application process all the way to closing. To apply for a mortgage please visit our Quick Mortgage Quote Page at https://themortgagecalculator.com/Mortgage/QuickQuote

The Mortgage Calcula

The Mortgage Calculator is a licensed Mortgage Lender (NMLS #2377459) that specializes in using technology to enable borrowers to access Conventional, FHA, VA, and USDA Programs, as well as thousands of Non-QM mortgage loan program variations using alternative income documentation!

Using The Mortgage Calculator proprietary technology, borrowers can instantly price and quote thousands of mortgage loan programs in just a few clicks. The Mortgage Calculator technology also enables borrowers to instantly complete a full loan application and upload documents to our AI powered software to get qualified in just minutes!

Our team of licensed Mortgage Loan Originators can assist our customers with Conventional, FHA, VA and USDA mortgages as well as access thousands of mortgage programs using Alternative Income Documentation such as Bank Statement Mortgages...

So, welcome everyone. My name is Kyle Hiersche. I am the COO of the Mortgage Calculator, and this is our loan officer sales training that we do every weekday at 12 p. m. Eastern, where we go through the front end of the mortgage business. Today, we're going to be talking about staying motivated. So, general training here, but always some good stuff to get pumped up and make sure that we are staying on top of things. Let me go ahead and switch my screen here, and we'll get into it. Okay. So first of all, we talked about this a little bit on the goals training because I'm a big fan of this and attaching this to your goals of knowing your why, right? Why are you doing this now? This could range from. A lot of people, your children, right? Is why you're doing this to leave them something or to take care of them now. Some of you may, maybe some people are younger without kids and their, why is to go to the nightclub and pop bottles on the weekends, right? It doesn't matter what it is. That's totally fine. It's just knowing your why every day when you wake up and attaching that to your goals, right? I want to do this. And because I want to do this. I need to do this, right? And that's what we're going for here. So know your why go over it every morning. That's definitely a big one to start your day with. Hey, why am I doing this? Why am I working so hard? Let me stay focused on that. And that will help me stay focused on what I have to do. Right? Here's a little tidbit here. 40 percent of the competition was gone in 2024. So as a loan officer, remember 40 percent of loan officers either quit or did not renew their license. And I'm talking about loan officers in the entire industry, right? So huge amounts of your competition is gone. So that should definitely motivate you to get out there. And remember. These people, some of these people are going to try to come back when rates go down. But guess what? It's the people who've been here working, calling leads, talking to them, following up with them and working the whole time that are going to be getting the deals, right? You don't want to be 1 of those people that just gets out of it when things get tough and then tries to come back in when things get good, because by the time. You get things up and running when they get good, they could go down again, right? Cause you weren't putting in the work before. So we're going to make sure we put in that work. We stay motivated and knowing that a lot of our competition is gone. And even here, who's left, a lot of them are not working day in day out. Like they need to be like we are. To make sure that we are talking to thousands of people, we have hundreds of conversations going on. And that way it can actually equal a lot of sales when the rates do come down and they can equal sales right now, right? We're not just waiting for rates to come down. And then the law of averages, I have a few trainings on this now. Yes, it's a cool concept, but the reason why I put it here is because to me personally. That's always been the biggest motivator whenever I was doing like sales, right? I've had a few different sales jobs in my day, not a job, but companies that I own where I had to do sales. Right. And it's always been the biggest motivator for me to just know the law of averages, know that. I don't need to dwell on who says no, I don't need to know why the people are saying no, I don't need to be discouraged. I just know if I talk to 100, I get one or whatever the ratio is and talk to 10, I get one. That was a huge motivator for me. So that might be a motivator for some of you as well. I have trainings like more in depth trainings on the law of averages where we go over some more of that, but I put it on this slide here because again, Knowing that, understanding that, utilizing that you know, it, it really helps motivate me because it gets you part of motivation is getting you over the hump of actually starting, right? Starting and doing it and it can feel daunting, but when you go, Oh, Hey, I just got to talk to 10 people and you know, I'm going to inevitably get one and then talk to 10 more. Right. And so it it definitely helps motivate. Maybe it will help motivate you like us. Or like myself. And a tip here for the loan officers at the mortgage calculator, use coach Calvin AI. So coach Calvin which you have in your CRM the coach Calvin AI tab there is, you know, the, the coaching version of Calvin, right. And he can keep you motivated with like daily motivational quotes and you know, action plans to help promote and promotion ideas and stuff like that. So. Feel free to pop onto that coach Calvin tab and ask, you know, for some daily motivation or insight or you know a good action plan to go promote that day or, or get new deals. So definitely utilize coach Calvin because remember he has, you know, almost everything on the internet in his brain. Plus he has a bunch of specific stuff that we put in his brain too. So he's got a lot of stuff he can offer you. Okay, so here we go. Let's talk about actually getting into it here. So a lot of this again, a little bit overlapping with the goal setting training, but to stay motivated, we got to have a clear side of what we're doing, right? Because a big part of staying motivated. Is, you know checking off the boxes when you do it, a big part of staying motivated is getting the stuff done yesterday in order to get the stuff done today. Because if you don't get it done yesterday, then today just kind of slides by. I didn't do it yesterday. I don't really have to do it today either. Right? It's all about knowing where you're going, the clear site plan. Because again, it's, it just adds up and gets daunting if you're not knocking it out every day, taking care of it. And a big thing with staying motivated is giving yourself those little pats on the back for hitting those small accomplishments. And it's very important if you don't have the goals, then you can't, you know, you have no measure to do that. Right? So. The big thing here that I would go over is set your goal for your production, right? What do you want your production to be? Or maybe better yet, what do you need your production to be to, you know, make enough, enough money, right? To support yourself. And so we want to set the goal for production. That's going to allow us to kind of work backwards a little bit. To get our goal for prospecting. So if you haven't watched it yet, watch the goal training. I go a little bit more in depth into that, but essentially, you know, we need to know where we're trying to hit and then we can kind of reverse engineer that and say, okay, well, you know, I'm going to have to call probably 300 people in a day to end up getting, you know, talking to, you know, the 10 that move forward with you know, a quote, and then the one that moves forward to. finish their whole application. And you know, if I can call 300 people a day, get one finished application a day, that's going to equal X amount of loans per month. Right. So, and you'll start to find obviously your ratio there, but it's going to start with setting the end goal and then kind of work backwards from there. Right. So most of you, I would say bare minimum need to be doing a hundred calls a day in the auto dialer. Right. In addition to the leads that you're getting and stuff. I mean, a hundred is a nice. Small number you can make, you know, 500 calls a day in the CRM if you sat down all day and were to do it. So a hundred calls is a very attainable goal on a daily basis. And you know, I think that's something everybody should shoot for, bare minimum. And then another motivation here too at the mortgage calculator. Remember that there are a lot of career path opportunities here, right? As soon as you are, you know, have closed your six loans. In the past 12 months, you passed the senior test. Now you're a senior loan officer, you're making more compensation, you have more control you get even better leads, right? And then you can also move up to a team leader and make overrides on other loan officers by helping them. And then if you want to take it even further, you could become a branch, a branch manager, right? Now that requires actual investment, right? You got to get an office and all this type of stuff, right? So that's more of a, I guess, kind of a business venture, right? But the path here is very clear, very simple. We make it very easy. There's no huge roadblocks. You don't have to have 20 years of experience to become a team leader. You just need to be a senior loan officer, be closing loans, know how to use our system effectively and be able to help other people use our system effectively. Right? So it's a very clear path here. There's no nebulous thing where you got to be a super experienced loan officer and be here for three years before you can be a team leader. You know, we have a very a clear cut path here. So that should be. some motivation as well. You know, for example, one of our team leaders, Evan you know, he, that was his goal, right? When he first got here was to be a team leader and now he is. Okay. So just a couple of tips here. Some of you may have seen me go over these, but just some motivational speakers that I like to listen to, right. And then I'll give you some, some book titles, but Ricky Caruth is a good one. So Ricky is an, he's actually a realtor, but he's like a, he's super big on. making calls, right? Getting people amped up to make calls. The fact that people don't make calls and they just make excuses for making calls. So he is in real estate and it's very applicable to what we're doing. But again, he has a realtor. He's not an actual loan officer. There's not, there's not a lot of motivational speaker loan officers out there, but there's a lot of realtors that are, you know, also motivational speaker type people, but Ricky Garuth is good. He'll get you in the right mind state to pick up the phone, right? Grant Cardone. Right. He's pretty good. Not necessarily a motivational speaker necessarily. I guess more of an informational and inspirational maybe. But I say this on some of the other trainings too about Grant Cardone. Same thing about like the bigger pockets podcasts and all this. When you listen to these people, you're listening to what your clients are listening to, right? Your clients that are the people doing a bunch of DSCRs and the people who are doing the burrs, the fix and flips and all this, this is who they're listening to, they're listening to Grant Cardone's, they're listening to the people on the bigger pockets podcasts, right? So not only is it good motivation for you and good information for you, but it's also important to know. put yourself in your client's shoes. These are the things that are motivating them. These are the YouTube videos that they're watching. They got them excited enough to put up a down payment to go buy investment properties or, you know, whatever it is, right? So it's always good to know what your clients are, you know, listening to Tom Ferry, another realtor, kind of just general type stuff. Jim Rohn and Zig Ziglar, those are my favorite motivational speakers. They're just general, they have nothing to do with real estate and they're, A little bit more old school and then Gary Vee. I'm sure a lot of, you know, Gary Vee more so on the social media side, but he is absolutely a great person to watch, to follow not just for social media, that's essentially most of what you would probably take away from watching him and following him. But just general inspiration. I mean, the guy just works, works, works. And so he's a very inspirational follow and watch. And a couple books here the slide edge by Jeff Olson. I do a whole training on this. That's super amazing concept book. Absolutely changed my life. I wouldn't be here. Nick and I wouldn't be on the path that we were set on until I read that book. So it absolutely changed my life. Think and grow rich by Napoleon Hill. A great one. I'm sure most of you have heard of that and the richest man in Babylon. Another great one. Never had a job. That's my first book. And then father, the lead is the one that I did with Nick. So just a couple of recommendations there for some different books. The slide edge first and foremost, like I said, it definitely changed my life, so I would definitely recommend that it's on like Amazon and stuff. You can get it on like Kindle and stuff like that. And you can order it on paperback or whatever, if you want. But just some good books there. So, again, a couple of good books there. You might want to jot it down at least the slide edge, a couple of great motivational speakers. Remember with the motivational speakers, like I've talked about in the past, follow them on social media. I'm telling you, it's so important to do this. Because then they're injected into your daily life, right? So follow all these profiles. Even these gentlemen who have passed away Have social media profiles where they post every day motivational stuff in their videos and stuff, right so definitely Follow these people so that every day when you pull up your instagram tiktok or whatever it is You you use you know, you see them in there and they're just injected it. You don't have to remember to go listen to a motivational speech, right? It's, it's there for you. They'll serve it up on a platter right to your Facebook page or right to your Instagram, right, right to your phone. So yeah, I suggest following these people for sure. And that's it today. Just real quick. Like I said, quick, general training here at the end of the day, it's not easy to stay motivated in this business right now, especially right. But we have to, and I would say the biggest point to leave everybody with is that for those of you who are staying motivated, who are making the calls are the ones who are going to see extreme success. when the rates do fall, which you, you can see a lot of success now. I don't, I don't want to discount that, right? We keep talking about how when rates go down, it's going to be a different you know dynamic, but there's plenty of people closing plenty of loans right now. So I don't want to try to discount the fact that you can close loans now, but again, the people putting in the work, right? So. With that being said, I think we can go ahead and wrap it up. I don't see any questions. Remember, we do this 12 PM Eastern every weekday where we go through the front end of the mortgage business. So we'll be back tomorrow with a new topic. I appreciate everybody tuning in. We'll see you tomorrow. 12 PM Eastern for the next episode of the loan officer sales training with the mortgage documentary.

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