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Andrew Marquis is our guest this week. Andrew is a senior loan officer with Guaranteed Rate and is one of the top 20 Loan Officers in the United States. He and his team process between 40-50 loans a month, totaling over 200 million a year in volume.

Andrew talks with Scott about how he got started in the industry, what his processes are like, and how he builds and keeps referral partners.



 Timestamped Show Notes

(click the timestamp to jump directly to that point in the episode.)

    • [4:25] After 6 months it clicked.
    • [5:00] Anyone who wants to succeed in this industry has to have a desire to win.
    • [8:45] To keep the processes moving, you need to specialize everyone’s tasks.
    • [12:00] How much time do you spend on each file?
      • 30-35 min per file.
    • [12:15] How many many files do you process a month/year?
      • Most of our business happens between Mach to October. 70-80 loans a month.
    • [13:30] How much staff do you have and what do they do?
      • I have 2 sales assistants.
      • 4 processers that work in a pod system. Each pod has an operation assistant and finally, there is 1 operations manager.
      • Altogether, with the underwriter, 10.

      • [16:55] How does this pod system work?
        • They take a loan from start to finish.
        • They contact the customers, gather documents, and submit to the underwriter.
        • When you specialize, you reduce the peaks and valleys in your process.
      • [21:05] Realtors just want to know that they will get a prompt response and make sure you keep working on these relationships even after the file is done.
      • [22:40] What percentage of your business comes from Realtors?
        • 50%
        • The other 50% comes from accountants, financial advisers, etc.
        • We send a gift to both Realtors. You have to reinvest in the business.
      • [28:10] I treat this job like a profession.
      • [30:10] When you take a holiday, do you actually take time off?
        • 8 years ago it would not have been possible. Today I can unplug; I will check my emails quickly but most of the time I can relax.
        • My vacations are more like long weekends 4-5 days. 7 days is still a bit too much.
      • [31:20] What advice would you give us for the 100 Million Dollar Journey?
        • You have to get a sales assistant.
        • You need to know where the business is coming from.
        • When approaching referral partners, you need to bring value.










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