Today we are joined by Sue Hameed. She has been a mortgage broker in Ottawa for five years and has grown every single year. She has been hosting her own segment on CTV for the past 18 months. Sue takes a non-traditional approach to her business because her focus when starting was not to build partners with realtors, but rather to put her energy into networking events. She tells us about how she found success using this path that few before her have taken.
Timestamped Show Notes
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[1:27] Tell me a little bit about how you got into the mortgage business.
- I got into the mortgage business after being in a family business for a very long time.
- The first year was rough. I didn’t come from a bank; I didn’t have a financial background.
- I did 8 deals (about $2,000,000) in the first year.
- My two main points were social media and networking events.
- In the second year I did $8,000,000 and in the fifth year I jumped to $39,000,000.
[3:53] What was your path to building your business without using the traditional approach?
- I said to myself that I’d build a strong foundation and then the realtors will come.
- I focused on going out and being productive every day.
- I tried to attend about 5 events per week.
[6:34] Tell me some of the things you did to make networking events successful.
- I would try to talk to 5-6 people. I would go up to them and ask about their business.
- When they asked, I would tell them about being a mortgage broker and what I love about my business.
- I’d follow up. I’d reach out and set up a coffee meeting.
- I always look at things in the bigger picture.
- I looked for businesses that I would be able to establish a relationship with.
- I would connect with them on social media after the event.
[12:40] What does it look like when you’re in a room full of people and say “Hey, I’m Sue and I do…”
- I get up and say that I’m a mortgage broker and what my ideal client is (people who have been denied by other brokers).
- Last year my business was about 60% “A” and 40% “B” and private. The year before I probably did more “B” than “A.” This year, I’m back to about 65% “A” and 35% “B” and private.
[15:23] When did you decide to hire an assistant?
- I only hired my first full time assistant last October.
- A lot of days I work all day, go home and spend some time with my kids, then work for another 2 hours.
- I should have brought somebody in at the beginning of the year.
- I’m able to balance family time and work time a little more now.
[17:46] You’re on CTV’s Ask the Experts. How did you get that opportunity?
- Me and my business partner did a video email blast, and somewhere in my blast was one of the managers at CTV.
- I pick the topic, I create the content, and then I send it over.
- I share the segments on all my social media channels.
- Per episode, I usually do 3 weeks of sponsorship and spend $300.
[21:19] Give me an example of a story that you shared that got good traction.
- Every now and then I like to share a “Deal of the Week.” I tell a story about a difficult deal that I accomplished.
- I helped a client who had a previous bankruptcy of over $5,000,000.
- I get a lot of reaction, and it’s where I get a lot of referrals from.
- If you go into a networking event and it’s “all about you,” people can see that.
[25:52] Give me some examples of risks that you’ve taken and investments that you’ve made. Give me one that didn’t work and one that did.
- I’ve sponsored some events in the past. They can be quite expensive. They’re never an immediate return.
- I never tell myself going in that I need an immediate deal.
- CTV is the best investment I’ve made.
- They asked me in the beginning what I was expecting to get out of this. I said I wanted to build my brand long-term.
[28:50] Is there anything else that I should have asked you that you think our audience would find helpful or useful?
- The most important thing when you’re in this business is to see improvements whether they’re gradual or large.
- Building a strong base and attracting realtors naturally was a great way for me to start my business.