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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.

 

 


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 Timestamped Show Notes

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

    • [spp-timestamp time=”[spp-timestamp time="4:25"]″] After 6 months it clicked.
    • [spp-timestamp time=”[spp-timestamp time="5:00"]″] Anyone who wants to succeed in this industry has to have a desire to win.
    • [spp-timestamp time=”[spp-timestamp time="8:45"]″] To keep the processes moving, you need to specialize everyone’s tasks.
    • [spp-timestamp time=”[spp-timestamp time="12:00"]″] How much time do you spend on each file?
      • 30-35 min per file.
    • [spp-timestamp time=”[spp-timestamp time="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.
    • [spp-timestamp time=”[spp-timestamp time="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.

      • [spp-timestamp time=”[spp-timestamp time="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.
      • [spp-timestamp time=”[spp-timestamp time="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.
      • [spp-timestamp time=”[spp-timestamp time="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.
      • [spp-timestamp time=”[spp-timestamp time="28:10"]″] I treat this job like a profession.
      • [spp-timestamp time=”[spp-timestamp time="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.
      • [spp-timestamp time=”[spp-timestamp time="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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