Today we are joined by Toma Sojonky. Toma comes from a background of real estate investment and development. Now, he runs a thriving mortgage business. Last year he funded $20 million and this year has already funded $28 million, despite COVID-19. He joins us today to discuss his background and sales strategies.
This episode is sponsored by Finmo. Finmo is Canada’s fastest growing mortgage origination platform. To find out if Finmo is right for your business visit www.finmo.ca/scott
Timestamped Show Notes
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[2.25] How did you get into the mortgage business?
- I started as a real estate developer and investor in 1992.
- I learned the process and it seemed like a natural transition to make.
[3.18] How long were you in the flipping and development side of the industry?
- I bought my first property in the spring of 1992 and have been involved in over 900 residential units.
[3.45] What was the deciding factor in switching to mortgage brokering?
- I am an analytical, detail oriented and entrepreneurial individual. Mortgage brokering fit with my personality.
[4.35] What quote has had an impact on you and how do you apply it to your business?
- ‘It’s easier to act your way into a feeling than feel your way into an action.’ -Ryan Stewman.
- I apply this by getting in front of people I don’t know every day.
[6.26] What failures did you have in the early days and what lessons have you learned from them?
- I operate in higher price points in the business and found myself competing with banks.
- I have learned to screen on the front end to avoid wasted effort and time for me and clients.
[7.40] What have you changed in your sales process in the last 12 months?
- I hired and assistant and learned to let go and delegate.
[8.33] What would you say to people who are considering hiring an assistant but are afraid to?
- It allows you to free up time.
- Hire part-time until you know the market and can commit to greater, more permanent growth.
[9.47] How did you know it was time to hire someone?
- I was forgetting which documents went where and was experiencing burnout at home.
[10.27] If you could go back and re-do the first 90 days of setting up your business again, what would you change?
- I would spend the nights focusing on learning products and expanding my knowledge.
- Implement stronger organization and increase my circle of influence quickly.
- Make use of time management discipline to focus on productivity.
[12.08] What is the biggest change you have made to your business systems in the last 12 months?
- Using Finmo, an online document requesting and retrieval system.
- It has saved a lot of time on intake and allowed more time to build rapport with clients.
[14.06] What has been your biggest takeaway from the 10 Loans a Month program?
- No matter how old or new to the business you are you can always learn new scripting and adapt to your brand.
[15.28] What is the one thing holding brokers back from success?
- Fear of inexperience and rejection.
[16.09] What is your habit for success?
- Time management.
[16.42] What are your favourite business tools?
[17.03] What percentage of your clients utilize digital signatures?
[17.10] What book would you recommend?
- Can’t Hurt Me by David Goggins
[18.24] If you had $100,000 to invest in your business, what would you do?
- I would invest in relationship building with referral partners and clients.
Contact Toma here: https://www.tomasojonky.com
If you’re interested in becoming a deal creator, visit https://www.10loansamonth.com/call/ to find out more.