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In this episode, Simon Lefave from Get A Better Mortgage shares how working with 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

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

[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.