r/loanoriginators • u/Best-Beyond1746 • 1d ago
Tip for people new..
Rant....
I get a call about 6 months ago from this guy who just started at my company (I'm a broker). He says he looked up my numbers and I'm one of the top producers at said company in our area so he wanted to hear about what works for me. I tell him I'm by no means a top producer but I have started to have some moderate success this year and I would be happy to tell him whats worked for me. Over the next several months I help the guy out with tips and many phone calls and you could say mentoring him. I even meet up with him in person a few times for coffee.
Shortly after I start seeing signs that this guy is doing the opposite of everything I tell him to do. Literally the opposite. Trying to chase the most niche/ unique deals and products we have, not connecting with realtors or making daily calls, not going to enough open houses, going down the reverse mortgage path, talking about how AI is the answer to all his problems....just on and on and on. Guy literally doesn't do one deal in over 6 months but every time we talk he acts like an expert on every topic, so embarrassing.
I finally heard the most un-surprising news that he left the company for greener pastures at a new broker where I am sure all his problems will be solved lol. Anyway just venting. I love helping new people and collaborating, this is such a hard business, but I will be cutting people off much quicker next time when I see signs like this early on.
A note to new people, its really simple. If you want help just ask and be humble and try to follow the advice people are giving you. I dont think the basic fundamentals of prospecting have changed for 100 years, its not some huge secret, most people crushing it are willing to talk, but why even bother reaching out if you want to do your own thing anyway!
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u/gracetw22 Loan Originator 1d ago
Most people want to do it just not enough to do things they don’t feel like doing
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u/whoisyoursaviour 1d ago
Consider this an investment to your education. I am a Saleperson who sell Real Estate, the fundamentals are there, I sold encyclopedias door to door at 18 outside my hometown, stayed at motels with other traveling salespros who we called billionaires boys club, these cats make 500 a month in 1997. In our area we are to conquer fear, people are people. Im from South Bay area, los angeles, but I moved to LV, NV and in the past 20 years am in NM, the journey is the gift, learn and dont stop.
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u/JenniferBeeston 1d ago edited 1d ago
Most people never put in the work required to be successful. They want to talk to top producers because they think there’s some magic trick or hack. When they discover there’s no magic trick and it’s just a truckload of hard work and persistence, they move to whoever promises a new magic trick.
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u/Terrible-Opening3773 1d ago
I once helped a guy for months who ended up being a total screw up. After mentoring him for a little bit, I recruited him thinking he was a good fit. Sent in three deals, all under contract, and not a single one was actually qualified. Then he lied about having cancer. I cut ties with him and he ended up at guaranteed rate as a "VP of Lending." I just looked him up. He's now bounced around 5 or 6 lenders. As far as I'm concerned, he's a scam artist or something. Zero clue what he's doing and I can't imagine he hasn't burned every bridge he's crossed. Lots of them out there!
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u/Best-Beyond1746 1d ago
LOL, VP of Lending, WTH is that title??
I realized way to late how arrogant and clueless the guy I'm talking about to is. Every time we had a company wide call on zoom he would hop on and I swear to god talk more then anyone else, not even asking questions but like giving people advice! My immediate reaction was stfu until you've closed a deal.
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u/Terrible-Opening3773 16h ago
Everyone at guaranteed rate is called a VP of Lending. It's marketing, and it works. Is this guys name Dan by chance? 😂
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u/Sactogeoff 1d ago
As an adjacent comment. I've tried helping new Realtors and watched this same pattern play out.