Kickstart Your Week ~ Building a 95% Referral Based Business
Quick recap
The meeting covered a range of topics, including birthday celebration plans, personal anecdotes, and professional experiences. Participants discussed the importance of maintaining a positive mindset, building strong relationships, and consistently providing value in their work. The team welcomed guest speaker Trey, who shared insights on successful strategies in the mortgage industry and building partnerships with real estate agents.
Next steps
Trey to continue focusing on building relationships with agents doing 4 or fewer deals per year who show strong will and potential.
Loan officers to reflect on whether they are demonstrating the enthusiasm and "burn the boats" mentality that would make agents want to partner with them.
Loan officers to implement a system for providing exceptional service on the first 3 transactions with new agent partners to build trust.
Loan officers to aim for monthly phone calls, quarterly face-to-face meetings, and biannual group events with key agent partners to maintain relationships.
Loan officers to adopt the mindset of "getting to" do their work rather than "having to" do it, to maintain a positive attitude.
Loan officers to define what a "flawless transaction" looks like for their business and aim to achieve it, especially with new agent partners.
Ignite members to pay attention to and engage with Trey's responses on the platform to learn from his marketing and product insights.
Loan officers to connect with Trey on social media to learn from his out-of-the-box marketing approaches.
Summary
Nino's Heartwarming Encounter With Lily
Nino shared a heartwarming story about his experience at a coffee shop in the Minneapolis airport on Christmas Eve. He was served by a barista named Lily, who made him a grande pumpkin spice latte with extra whipped cream. Their conversation was filled with warmth and sincerity, discussing their holiday plans and traditions. Nino was struck by Lily's ability to make meaningful connections with her customers, and she shared her secret: pouring happiness into people's lives. She emphasized the importance of choosing how to show up, even in challenging circumstances. Nino was deeply moved by their encounter, as he was dealing with his parents' terminal medical diagnosis at the time.
Consistency, Connection, and Creativity Discussed
Nino emphasized the importance of consistently being the best version of oneself and the impact it can have on others. He shared a personal story about serving coffee and how it became a powerful tool for connecting with people. Nino also highlighted the significance of showing up and pouring happiness into others' lives. Cathy then introduced Trey, praising his creativity, enthusiasm, and willingness to share his ideas. She expressed her excitement about Trey's presence on the call.
Trey's Mortgage Industry Success Strategy
Trey, a mortgage industry professional with six years of experience, shared his journey with Fairway. He started with a small loan and, after six years, has grown his business significantly. Trey's focus has been on referral business, primarily through real estate partners, CPAs, and financial advisors. He has a unique approach, focusing on smaller realtors who do fewer deals per year, rather than the larger accounts typically sought after in the industry. This strategy has allowed him to maintain a steady stream of business and achieve success in his career.
Identifying Successful Real Estate Agents
Trey discussed his approach to identifying and working with successful real estate agents. He emphasized the importance of finding agents with the right attitude and work ethic, rather than just focusing on their production. He shared an example of a new agent who was willing to go door-to-door to generate leads, which he saw as a positive trait. Trey also mentioned that he looks for agents who are willing to try new things, even if they're not successful at first. He believes that these agents are more likely to be successful in the long run. Cathy asked Trey about specific characteristics he looks for in an agent, to which Trey responded that he looks for a combination of will and skill. He believes that will is more important than skill, as it can be taught.
Building Realtor Partnerships and Trust
Cathy and Nino discussed the perception of their team from realtor partners and the importance of showing enthusiasm and willingness to do whatever it takes. Trey shared his strategy for attracting realtor partners, which involved offering free Matterport 3D camera services to list their properties. He emphasized the importance of over-communication and providing value to the partners. He also shared his approach to building relationships with realtor partners, which involved weekly updates on the status of transactions and asking for feedback. The team agreed that this approach had been successful in building trust and establishing a good reputation among realtor partners.
Building Relationships With Agents
Trey and Nino discussed their approach to building relationships with agents. Trey emphasized the importance of providing a flawless experience in the first three transactions with an agent to establish trust and loyalty. He also shared his strategy of maintaining regular communication with agents, including monthly phone calls and quarterly face-to-face meetings. Nino agreed with Trey's approach, highlighting the need to consistently exceed expectations to maintain a strong relationship. They also discussed the potential for agents to become loyal customers after a positive initial experience.
Maintaining Relationships and Work-Life Balance
Trey shared his approach to maintaining relationships and managing a busy career, emphasizing the importance of consistency and a systemic approach. He also highlighted the need to shift one's mindset to recognize the blessings of being in a position to handle multiple deals. Cathy echoed Trey's sentiments, stressing the importance of consistency and the need to prioritize relationships. Peter praised Trey's work ethic and willingness to help others. Nino encouraged the team to learn from Trey's approach and to maintain a positive attitude. The team agreed to continue these discussions with future guests.