Parrots and LoanOfficers Part 2- TIME MYTH
This is one of the most dangerous myths so pay attention
This photo actually makes me happy and sad at the same time but more about that in a minute when we discuss today’s MYTH!
If you missed yesterdays article about the Myths we are taught as loan officers you should go back right now and check it out.
It’s the one with the Parrot- because we are trained to act like Parrots and just repeat the conventional wisdoms that are taught to us in this business..
https://toporiginatorunderground.substack.com/p/parrots-and-loan-officers-part-1
SO NOW ON TO MYTH # 1 THAT WE ARE TAUGHT AS ORIGINATORS
YOU MUST BE AVAILABLE 24/7/365 to be successful
I truly used to believe that- In fact, I had a pager which back in the 80’s was a big deal..
Only important people had pagers like Doctors and of course LoanOfficers.
Keep in mind there weren’t cell phones yet- in fact I just found the original cell phone BAG with the phone it I used to shlep around with me at all times.
WHILE THIS HELPED- IT TRULY HURT AS WELL
Yes it made me much easier to get a hold of but it also ruined a part of my life I can never get back.
I missed watching my son and daughter grow up.
My wife used to call me a mortgage 7/11
I missed important moments that can not be replaced either by not being physically there - or if I was- not being mentally there..
I know you already know what I mean and I don’t need to spell to out to you..
WHY DO WE DO THIS?
In my case it was because I had a family and did not want to miss an opportunity for a deal. GuessI had pretty low self esteem and pretty high fears. I never wanted an agent or buyer to call a different lender and lose a relationship.
Keep in mind this is even before there were smart phones —rocket mortgages and atm machines that give quotes for home mortgages
FAST FORWARD
Here’s what I learned and want to share with you …
First- YOU DO NOT NEED TO BE AVAILABLE 24/7/365
If you bring your work life home you will ruin both- your home and work lives
IT ALL COMES DOWN TO A FEW IMPORTANT POINTS
First- You must respect yourself before anyone else can/will
Second- You must become the expert in a niche where people are chasing your for your expertise
Third- SET THE RULES-
You can let people know the times you are available- When you respond to an email tell them they can call M-F from 8:30 to 5 or whatever you see fit…
They will or they won’t - if they don’t than they weren’t really clients who would respect you and end up using you anyway
Think about this for a second
Would they take off work to see their dentist -accountant - attorney
Heck they take off work just to go to motor vehicle don’t they
So your issue is in your own mind - but it is also in the vibe and information you are putting out there. This myth is very closely tied in to the myth of being everything to everyone and also some of the other myths we will go into soon in upcoming posts like the one about going out to BEG for business..
SOME IDEAS TO HELP YOU !
Tell people when you are available —- in your emails - in your voicemails etc
I often ask a question
”Is it easier for you to go in late or take off early since I can speak to you at 8:30 or 4”
People most want what they find difficult to get.. ( think about that)
You have heard in dating that you shouldn’t be too easy- play hard to get.
Well it’s the same in our business. In fact when I am speaking with agents for the first time or referral sources I will often say- let’s set a time to speak/zoom/meet and let’s see if we are a good fit.
I am sure you have some ideas on who you prefer to work with and I do as well..!
See that? - I am not begging- We may even find that we are not a good fit and that’s absolutely fine!!
Let me finish up this post by telling you that the good news is I was able to “FIX” my issue and when my children got into their teens (they are now in their mid 20’s)
I was able to be there at all of their events and sports etc and spend quality time with my wife- who USED to call herself a mortgage widow.
Think about who you are working with
Think about the type of business you do- as an example- If you work on 100bps and can raise your average loan amount from 200 to 400 or even just to 300,000 you have in effect given yourself a HUGE raise- less loans - more money and freedom and happiness.
You also should be looking at the “clerical” things you do - or think you need to be doing and get someone to assist-
If you want to work 40 hours a week and earn 10000 your hour is worth 60.00
hire someone for 10.00 to do the grunt/clerical tasks .. it’s absolutely worth it
Here’s some simple math
You want to earn 10,000 a month-
You want to work 40 hours
You want to take off 2 weeks
2000 hours /12000 is 60 an hour- THINK ABOUT THAT-
Look at what you are doing each and every day- and see if it is worth 60.00
Heck- just reading this article probably cost you 30.00 right? Seriously
use this formula and write it out and post it where you can see it
If you know anyone you think would benefit - share this article and leave your thoughts and comments
Check back tommorow for Myth 2 will be destroyed
WRITE THIS DOWN
Your job is to create more demand for your services than you could possibly have time and to get business consistently chasing you- that’s what our underground is all about!
Dedicated To Increasing Your Production
Brian Sacks
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YOUR JOB- IS TO GET BUSINESS AND PEOPLE CHASING YOU !!!
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Imagine- doing that 1 addtional tactic each month -integrating it into your marketing and then seeing what your income and production is 12 months from today..?’