Dear Loan Officer: What is Gratitude?

I am so incredibly grateful for each and every member of The Borrow Smart Team and all that they bring to our team! What an awesome 2021 we have had together! 

 

On that note, what IS ‘Gratitude’ you ask?  Well, let me tell you:

Gratitude is derived from the Latin word ‘gratia’, meaning grace, graciousness, or gratefulness.

Gratitude is the experience of counting one’s blessings.

It is the feeling that embodies the phrase “Thank you”.

 

A study by Emmons and McCullough in 2003 found that keeping a daily gratitude journal leads to better sleep, reductions of physical pain, a greater sense of well-being, and a better ability to handle change.  

On top of that, another study found that gratitude could be the ultimate magic pill for ‘happiness’!

 

People experiencing gratitude are influencing their hypothalamus in real-time, which is the tiny part of your brain that directly influences sleep, eating, and stress.  

Gratitude also stimulates the part of the brain associated with DOPAMINE – the ‘do-it-again’ chemical which is responsible for the creation of new learning pathways.

 

Bottom line:  BE GRATEFUL every day!  Journal in the morning 3 things you are grateful for, and then end your day writing down 3 things that went well that day you are grateful for.  

This is a week of giving THANKS, so embrace it and enjoy every moment of those around you.

Be grateful for those who pour into you, support you, and care about you.  

Take advantage of this magic pill and be grateful daily!  #WintheWeek

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Dear Loan Officer: A Story About Success & Pushing Yourself

Pygmalion Effect: We are either rising or falling to the expectations of those around us. When the demands are high, we show up. When they are low, we settle.

You need an environment and situation forcing you to rise up to the level of your goals.     In order to do that, you need to increase the demand on yourself and others to produce the desired result.

Strong goals are a necessity to achieve strong results.

A young man buys a new pickup truck and wants to test it. He drove up into the snowy mountains and ended up getting stuck in deep snow.

Frustrated, and unsure what to do, he decided to get out, cut down a tree, and begin filling the pickup with wood. He expected someone would drive by and could help him. No one came.

Eventually, the back of the truck was completely full of wood. He got back in the truck, said a prayer, and tried backing out. Surprisingly, with the weight of the wood, the tires were able to get the needed traction to get out.

The moral of the story: You need to increase the demand on yourself to focus and succeed. You need an environment and situation forcing you to rise up to the level of your goals. In order to do that, you need to increase the demand on yourself and others to produce the desired result. Pressure can burst pipes or make a diamond.

If you’re with me, I do push you. I do this because I know that if I don’t, you might settle for less than what YOU are truly capable of!

Instead of playing someone else’s game, let’s keep designing our own! Booya!

#BorrowSmartTeam #TeamworkMakesTheDreamwork #AlwaysLearningAlwaysGrowing #SetBiggerGoals #WhoNotHow

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‘Lunch Money’ – Monthly Training & Education to Help My Team Increase Their Fiscal Literacy & Confidence

This month I launched ‘Lunch Money’, a monthly training and education to help my team increase their fiscal literacy and feel more confidence around money as they build a path for a successful financial future!

This has been a passion of mine for many years, and acted as the foundation for a successful mortgage career since I made it less about the mortgage, and more about helping families achieve financial safety and grow their wealth.

I’ve spent years teaching homeowners and homebuyers the principles and strategies to be more successful with their money. I’ve done countless classes for professionals and businesses. I co-authored Borrow Smart, Retire Rich and then wrote Mortgages, Money, and Life to further spread the lessons I’ve learned. I now certify all of my Mortgage Advisors through Borrow Smart University to be able to help their clients on another level the way I’ve always enjoyed doing.

Yet, I realized recently that I’ve done very little to coach up my own support team along the way. My amazing Loan Officer Assistants, Processors, Marketing Coordinators, Operations Manager, Systems Administrator, Post Closing Concierge, Partner Liaison, etc. That ends now. I’m committed to helping those closest to me every day, working hard every day to help our clients with their mortgage financing needs, have the tools and education to succeed with money!

I’m excited with where Lunch Money will go! I foresee guest experts joining in, lots of engaged discussions, and incredible growth and connections as we move forward.

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Dear Loan Officer: Captain Charlie Plumb & Me

Dear Loan Officer,

Happy Wednesday! I recently had an opportunity to listen to the esteemed Captain Charlie Plumb on a leadership meeting call. As a former POW, he served in Vietnam for 6 years. During his captivity, he was stuck inside of an 8×8 cell, all the while being tortured and starved. Charlie, thank you for your service.

On the call, Charlie shared how important strength of mind is. It’s eventually what got him free, and led him every day in captivity. He shared that each day he had to choose – he chose his attitude and the spirit he showed up with.

His words resonated with me that every day we have the choice to have a positive attitude or a negative one. There’s many choices we make in a day; we choose to call on our best people, or the easiest people we know will answer the phone. We choose to make proactive prospecting calls every day… or not. We choose to focus on what’s working, or on what’s not working. We choose to invest time with our family, or choose to invest time with work.

Every day we’re making choices. We even choose when to say yes to a client, or NO.

My point in sharing this with you, because it was such a great reminder for me. Everything we have, is a cumulative effect of choices we have made up to this point. As we round the corner to the end of an incredible year from a mortgage business standpoint, And think about 2021 and dreams and goals for the New Year, we can remember that what we do (or don’t) achieve is based on the micro choices that we make every day.

I hope that gives you a feeling of empowerment, and that life is within your control. The choices we make every single day, dictate how successful we are – personally and professionally.

I wish you all the best! Happy Holiday to You and Yours. Please let me know if I can ever help out.

Trevor

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Dear Loan Officer: How are you planning to invest in your top clients in 2021?

Dear Loan Officer,

Good afternoon! I wanted to share a video with you all, that I shared with my coaching clients this past Tuesday. We’ve all been collectively drinking from the fire hydrant (so to speak) with opportunity. Some of you have been sharing that you’re feeling business slow down a little bit, which is a nice reprieve to get back to some essential activities.

With that said, How are you planning to invest in your top clients in 2021?  What are you going to do to WOW your clients in your database? I wish you all the best!

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Dear Loan Officer: Focus on the 80 Percent!

Dear Loan Officer,

Coming to you with a lesson from Brasada Ranch in Central, OR! I wanted to get a lesson out to you today from a book called Ninja Selling by Larry Kendall. It’s a great book for any sales career, and it addresses mindset, how the brain works and how we are perceived.

In the book, Larry cites a study that shares out of all prospective clients that come across your desk, a whopping 15% are looking for the best price. If you are the cheapest, you might get my business. Surprisingly, another 5% will be price, but for the highest price. This encompasses client thinking that, “If I pay top dollar, I will get top-dollar return”.

What does that tell us? That leaves 80%. Focus on the 80% client – the one that will pay your price, if you do a good enough job of expressing and articulating your value.

Read it again; if you do a good enough job of presenting your value proposition, your customer will pay your price.

If you win this customer’s business:
-Your hourly rate goes up
-Your enjoyment goes up, and you’re working with people that value what you bring to the table
-Your customer will likely take less of your time up
-There’s a good chance they will tell other people about you because they value your advice

The way to get there is this: look at your current loan pipeline now, and pick out the 15% that have been beating you up regarding the price. Figure out these clients ASAP, and clear them out of your world so you can focus on the 80%.

Then, relay your value proposition as best as possible to your 80% clients. Your income will go up, and your stress will go down.

I wish you all the best!

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Dear Loan Officer: The Law of the Scale Part 2

Dear Loan Officer,

Happy Tuesday! Last week I shared about the High Trust Law of the Scale which states, “If you want more business, have fewer clients.” The victory isn’t getting a client to do business with you once, it’s getting a client to never be able to forget about you. Does your customer know that you want them as a customer for life? 

 

I wish you all the best!

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Dear Loan Officer: The Law of the Scale

Dear Loan Officer,

Happy Tuesday – I hope this week finds you in good health! This month, I am diving into the… drumroll…. Law of the Scale. The Law of the Scale remits that if you want more business, have fewer clients. Now, I don’t know how you feel when you first hear that. When I first heard it in my young days in the business, I did not quite understand what it meant. But after digesting it, I knew it was profound (see below facial expression for emphasis):

My takeaway after 22 years in the business, is this: Go deep with your referral partners. Choose the people you really enjoy working alongside, and whom you want to do more business with. Quit digging a bunch of 1-foot wells, and start digging 5-10, 100-foot wells. My first step in employing the Law of the Scale gem, was identifying who were the referral partners that I wanted to go deeper down the path with.

Here are some qualifying questions you may want to pose to those partners:

What makes them tick? What are their biggest stresses? Why did they get in the business in the first place? What is important about being successful to them? What is their 3-year vision for their business? What does their team look like down the road, and how many of them can I help? What are their biggest frustrations with the lending side of the business, and how can I help them?

In a sales profession like ours – continuing to build on your relationships engages more trust and keeps you top-of-mind, which will lead to true victory. I wish you all the best!

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Dear Loan Officer: Are You Getting Tired?

Dear Loan Officer,

Conversations with Dave Savage are always fun, insightful and thought-provoking! On his Mortgage Coach platform, Dave and I share our playbook on how to finish 2020 strong.

 

I wish you all the best!

 

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Dear Loan Officer: High Trust Tuesday!

Dear Loan Officer,

I hope this message finds you well. Walking into this week waving my High Trust flag high! As many of you know, I’m a High Trust coach, and was recently a panelist for the Sales Mastery conference last week, for a panel titled “Implementation for Success”. This week, I’ve been asking my coaching clients what they plan to initiate based on their takeaways from the conference (Attended digitally by 48,000 professionals…!)

High Trust founder Todd Duncan has shared the Law of Diminishing Intent with us in this context, which expresses, the longer you wait to do something you should do now, the greater the odds that you will never actually do it.

Spend some time today thinking through the top “nuggets” that you may have received from Sales Mastery, and please share with us: what are the top 3-5 things that you plan to start on first, as takeaways from Sales Mastery?

I share mine below:

 

1. HomeBot – We already leverage this as a tool at my branch, but I have some ideas on how to leverage 10x the ROI that we’re getting now from HomeBot

2. Hiring – I plan to keep adding members to our team. When opportunity arrives, its too late to prepare. I’m not worried about “when the market slows down”, and I want to be primed to take advantage of the opportunities that will arise in 2021.

3. Be a Leader, not a Savior – I intend to chew on this concept, to continue practiced awareness on what it means to be a leader.

What might your 3-5 takeaways be? What resonated the most when checking in to Sales Mastery this year?

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