Superproducers Build Teams To Succeed

As I visit with thousands and thousands of good mortgage loan originators, I see a trend that holds many in this (and in the real estate) business from going to new heights. May I share a recent conversation? We’ll call this MLO Matt. He has been in the industry for years. Matt had a good amount of business “back in the day” but can’t seem to get things going today. He’s plateaued, he’s stuck, he still does business the way he used to and can’t seem to get ahead.

What Matt can’t see and doesn’t seems to realize is why! He is hard working, smart and really cares about his borrowers. Why do I start with Matt? There are many of you that are in the same situation and can’t seem to make it to the next level. May I offer some advice? I will use my own examples to illustrate my point. I have closed over 7,000 loans. I think I know how to do this business, but it wasn’t until I got some help that I really started to grow. Grow my business, grow my income, have more time to spend with my family. What I am saying is that you do not want to do it all, by yourself.

I know what some of you are thinking “Dave I will lose the quality,” “I’ll lose contact with the real estate agent.” Or “They’ll build a relationship with someone else, not me.” I had those same thoughts. I felt the same way. However, it is NOT TRUE! If you start to build a team you can offload what you don’t like to do, aren’t good at doing or find you waste too much time doing. Give it to someone else who is probably better at it than you are. Find someone who is great at what you are not good at and that extra boost will get you to that next level that has been eluding you.

You need a team. You will have to start with someone else besides you. All super producers have teams, assistants, staff and others to help them become better than they were all by themselves. Don’t make the mistake that you are “all knowing,” and “no one can do it better.” Get out of your own way.

I remember when I first realized I was standing in my own way to growing a multi-million-dollar business. I thought that of the 22 business days in a month that if I could get a transaction a day, I would have 22 closings a month. Then I thought could I get two a day or three new transactions per day?

It was not until I had two borrowers at the same time filling out paperwork at my desk that I realized I was doing it wrong. Imagine two different families in my office at the same time trying to fill out an application on my desk. True story. Obviously, this was before the powerful technology we have today, but you get the mental picture. Next trying to move all that business through the pipeline I had to stop generating and had to go into processing. So, I really stumbled at first before I figured out I had been doing it all wrong.

The next question I get is, “Do I build up the volume first before hiring an assistant?” No, hire the assistant first then go out and get the business. This extra expense will also motivate you. This extra mouth to feed is a tremendous push to get out there and do what you are probably incredibly good at meaning getting new business instead of chasing docs. The assistant can help move the volume through the pipeline and out the back door as you bring it in the front door.

Another gentleman listened to what I was telling him and hired his first, then second assistant and is now closing 35 transactions per month. I see him smiling more. I see him dressing up more. I hear him talk about his family and their vacations. He talks more about how he has time to give back to his community. He is happier and doing much better than when we first visited.

Today I am in the educational space. The things I have learned translate exactly. I have a much larger team of genuinely great individuals. We get 300 people that we talk to every day. We make money on weekends and holidays when everyone should be spending time doing something other than working because we have automated many processes. We have a 4.7-star review rating on Google. Some people do leave a 1-star rating then tell us how great we are and we leave it just so that we look real.

This year looks to be even better than last year which was also a record year for us. We are up almost 90% over last year’s results. Why? Because we do the things that need to be done when they need to be done and get it done by someone who is much better at it than I am.

You want to do more volume thanyou can imagine? You want to havea life and not lose your family in theprocess? I feel that for me the threemost important things I can do, andthis has grounded me is:

1 . When you are working, work hard. Do your job and be great at it

2. When you are at home be with your family. Give them your time and attention. Isn’t this why we do what we do - for our families?

3. Give back. Whatever that means toyou. Your church, your community,your kid’s school, soup kitchens,charity whatever. To count yourblessings to help those who cannever pay you back. To give backto those communities that helpedmake us great.

Love what you do. Spend timeworking on your business instead ofworking in your business. To do thisand not have the machine stop makingmoney get some help. Looking at ournumbers and what lies ahead we areall going to have a fantastic year. Goout, work hard,have fun andgive back!

David Luna is president of Mortgage Educators & Compliance.