In this episode, Simon Lefave from Get A Better Mortgage shares how working with 10realtors.com has put him on track for a 300% increase in production this year. Simon has only been in the mortgage business for two years, but is already making a name for himself as one of the new up and coming brokers in Toronto. We discuss why your phone is the “magic wand’ for your business.
Timestamped Show Notes
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[1:37] How long have you been in the mortgage business and what were you doing before you got into the mortgage business?
- I’ve been in the mortgage business for 8 years and this is my second year as a broker.
- Before that I worked at a lender in downtown Toronto for 6 years.
[2:03] How did you find the transition from working – were you an underwriter? What was your role at that lender?
- I never made the jump to underwriter.
- In house brokering, retention, etc.
[2:28] What made you decide to jump in to become a mortgage broker?
- It’s the most logical next step to what I was doing before.
- It’s very challenging.
- I wouldn’t be a broker if I didn’t have the 6 years as a lender under me.
[3:05] How was that transition? From salary to straight commission. Tell me about your first year.
- That looks like a whole lot of not much for the first 6 months.
- Quit lending in July 2016; then sleeping in, looking at rate sheets, thinking I was working…
[3:49] So how was that first year?
- That first 6 months in 2016 it was shocking.
- I learned a lot in what not to do.
- 2017 last year was a lot better; I invested a lot of money in seminars.
[4:17] How has this year been going?
- In 2017 75-80% of business was done through refinances.
- In 2018 I tapped all that out, focused on the purchase and making relationships with realtors.
- Working out of a Remax office in downtown Toronto.
[4:57] What are some of the things that you are doing differently? Did our program in January What are a couple of the things that you have found to be effective in helping your build your business?
- You need to look at your phone as your paintbrush/wand.
- I don’t leave my house until I at least make 10 calls.
- Reframing of why I am a broker is a lot different; where do I want to be- set goals.
[6:36] What kind of feedback have you been getting from realtors with this new shift of focus and this new approach that you’re taking?
- I have a game plan to show and what they can expect.
- Many brokers don’t do what I do, and they respect that; be willing to lend a hand.
[7:53] How have you found having a plan or script for calls effect your calling?
- You need to say what you’re saying with confidence.
- Know what a rebuttal is and know when they’re not interested.
- Know when to move on.
[9:50] Have you always been this way? (Whatever attitude)
- It happens over time.
- You need to deal with it to make progress.
- Brush it off.
- Do not take it personally.
[12:35] How’s your year going so far? How is 2018 looking?
- I want to 3x my goal from last year.
- I’m not on track to hit my goal this year, I made some wild decisions in the 1st
- Toronto there was no inventory.
[13:49] "] What advice would you give to somebody that is struggling right now?
- Momentum is key.
- The phone is your wand.
- Be honest with yourself.
- It’s going to be messy.
- Plan your weeks out.
- Focus on recon.
- Give yourself a pat on the back.
- Focus on the conversations.
- Focus on how many times you’re asking for business.
[17:33] Any last words? Or something I should’ve asked you before you came on to chat about this? Anything you want to share?
- The thing I learned the most this year is that you really must learn to use your time.
- Don’t sleep in- get up and know why you’re being a broker.
- Start with why.