It's the best time to become an originator. The average originator in their 50s/60s. And about to leave the industry, leaving it to be taken over. But a new player has to do it right. Origination is a side hustle game. At first. It's a great side hustle because: - You can make 15 calls/week and make $50-$100k per year. The catch? It will take 6 to 9 months to get a consistent paycheck. Once it's consistent income, and out-earning regular job, then it's time to become a full time originator.
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Spelling is not my strength... ...But helping loan officers double their business is.
I’m a data guy, and the data showing the success of our Level Up Sales Coaching program is 🤯🤯🤯 It’s so good that Sam Abazari forgot how to capitalize names 😂 Can’t wait to share more 📊 Kim Butler Anthony Casa Jimmy Hobson ✅ Chad Curtin Patton Gade
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Massive shout out to Nicole Peraino for having massive months like this after being a loan officer for only a year! She embodies Level Up Coaching! She participates, engages, and she executes. Nothing stop her from achieving her goals.
The road to $10M continues... August was a great month, my team and I helped 7 families with their Mortgage in order to achieve the following 🔹 Purchase a new home 🔹 Refinance to save money on monthly payment 🔹 Take cash out by tapping into the equity of their home
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78.9% Increase! Our Loan Officers in Level Up increased their preapprovals by 78.9% per months in only 3 months. I'm looking for 10 loan officers in IL who want to do 10 loans a month. DM me if interested.
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Level Up is all about investing in our LO's and helping them fulfill their potential.
Number of UMortgage LOs Ranked in Scotsman Guide - 2023: 11 2024: 20 LO headcount over the same period had a slight increase, but this 81% increase in ranked LOs is telling. We are attracting and retaining more top producers AND we are developing our current LOs into stronger producers. One of the contributing factors is our Level Up Sales Coaching program. The students in the program have seen substantial growth in their production. One metric we track is credit pulls per LO per month in the program: Sep: 6.11 Oct: 5.75 Nov: 4.46 Dec: 5.29 Jan: 10.48 Feb: 10.52 Mar: 10.65 I don't deny that there has been some market uptick in Q1 compared to Q4, but we compared our metrics to LOs not in Level Up and to other companies that I'm close too, and no other group has seen an increase this substantial.
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You may be completing wasting your time with prospecting. Why is your prospecting not generating business? Not all prospecting is created the same. Most important part of prospecting is not actually the skill of it. It's identifying and chasing the RIGHT target audience. If your prospect doesn't: - Want your solution - Doesn't have business to refer you Then you are wasting your time prospecting. Solution? 1. Define who you help - They want your solution AND - Can refer you business 2. Find those people - Get a list that you will chase 3. Prospect TLDR: Prospect to the right people.
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Why does your borrower go with some other lender after you did all the work? It might surprise you that it's not about the rate. And no, it's not good client experience either. Borrowers shop because they do not trust that they are getting good value. Rate is part of the value, and so is service but they are not the only things. Here are other values your borrowers want: - Someone to call when the toilet breaks or the pipes leak - Someone to guide them when the tax season comes - Someone to call when they don't know how to make a payment - Someone to help them save money and build wealth - Someone to help them when they want to switch jobs In short, they value a community leader who can connect them with important resources. So why is your borrower shopping you? Maybe because the value the borrower feels like they get ends with an average rate and rapport.
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Is mortgage LO the best kept secret position in the sales world? Perks: - Flexible Schedule - Remote - Sell what people want (money) when they want it - Relationship focused - Get paid for doing fun things with people you like - Potential for 7 figure income Downsides: - No salary - Takes time to build it up - Doing loans
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How do you do more loans in April? It's a 3 step process: 1. Compare your conversion to bench marks below so you can see your business in a snapshot to the industry so you don't have to feel like you suck or are amazing blindly Target Conversion Rates: Activities > Leads - 10-30% Lead > Credit Pull - 50-80% Credit Pull > Pre App - 50-80% Pre App > Lock/Disclosure - 40-70% Lock/Disclosure > Funding - 80-95% 2. Find the conversion point where your conversion is the worst compared to the benchmarks so you can get the biggest results for your effort 3. Find an solution to that conversion problem so you don't have to spend so much time and resource learning on your own and make more money in April. We have all the solutions to conversion problems at UMortgage. Happy to share it all. DM for your specific solution.
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How to win over shoppers for loan officers: A borrower shops because they do not TRUST that they are getting a good VALUE. Two biggest things are trust and value. So there are 3 solutions: 1. Build more trust 2. Communicate your value clearly 3. Build more value Implement each solution in the order provided as this order creates the biggest results for the least effort.
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Most lenders don't know the value they offer so they don't communicate it. If you do any of the following, mention it to your realtor partners: - I will track all your leads - I will convert your leads for you - I will update you on your leads on any cadence you want - I will update you every week on our live files - I will update the listing agent and borrower every week so they don't blow up your phone and you have more time - I will call the listing agent on all your offers so it increases the odds of the offer getting accepted - I will call all our preapproved clients to re-engage them and keep them loyal to you - I will send you weekly reports on the interest rate market so you're always in the know - I will update you on latest programs and sales tactics that I learn about so you have more opportunities to get more clients - I will call all our past clients and generate referrals - I will send closing gift on behalf of both of us to our clients - And add more and more You offer more value than you realize.
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Connecting Growth-Minded Originators with Autonomy and Control -Respectfully Curious Relationship Builder - Christ Follower - Family Man/Girl Dad - 2-Time Pie Eating Contest Winner
11moI definitely agree that it is a good time to get in as a new Originator. I have had many conversations this year with new LO's that are focused on the basics and executing well and the results have been great for them. Time to learn and lots of coaching available.