Welcome to The Millionaire Loan Officer podcast with your host, Scott Hudspeth sharing tools, tips and strategies so that you can go from a mortgage loan officer to a millionaire loan officer. It's your host, Scott Hudspeth.
Scotty: All right everybody, this is Scott Hudspeth with Millionaire Loan Officer powered by Mortgage Marketing Animals. Super excited to be here with my dear friend, Jay Kerber, who's literally just. Dude, you're doing some amazing things, man.
Jay: Thank you bud. Scotty H good to see you too, man.
Scotty: Dude, man, we've been friends for a long time and it's kind of cool that we finally finally got to meet. Man, and I gotta be honest, I was telling everybody I'm like, I swear to God, you and I, have talked so much and done so many zoom and all this stuff and I thought, man, I know I've met you like, Hey, nice, so when we saw each other, I'm like, Hey, nice to see you man. And you were like we've never met. I was like WHAT, that was pretty crazy, so. [01:07.3]
Jay: Dude, you know what that speaks right to the magic of zoom and kind of this last year of pandemic.
Scotty: Yeah.
Jay: You really connect very well with people on zoom or Facebook live or whatever it might be. You know, the new technology is almost as good as in-person.
Scotty: Pretty amazing right? Pretty amazing.
Jay: It’s cool.
Scotty: So, we've been hanging around for a long time. I've learned as much from you as you, you know, back and forth, but like what was it that catapulted you like? Cause I know we, we worked together for a long time back and forth and it was like stuck. I'm stuck, I'm stuck. I'm stuck. What do you think it was that, I mean, you're doing good at the stuck part, no big deal there.
Jay: Just hanging on.
Scotty: But what was it for you that allowed you to break loose of that being stuck part?
Jay: Yeah, I think there's couple things, Scotty for sure. First of all, it's the overthinking of it, right? Geez, the people who are doing what I want to do seemed so much better. And in all hell, I've been described better, but clearly, they were doing it better, better results. And I was, over-engineering like, well, I've got to do this and this. You get into the groups, you start hearing, what's working and you realize it's really pretty simple. It's never easy, it's still hard work, but it's simple. And I think once I really embraced that and was okay with it and just started working through it, that was step one. Step one is realizing it's not rocket science, don't make it that. And step two man, as you were saying that that's in that question brought to mind a podcast I listened to, wish you could remember what it was that I shared with you, but it's Tom Brady. He is a pretty, fairly successful guy which he does okay. [02:44.3]
Scotty: You know I mean; I don't know like he does. Okay, yeah I guess.
Jay: Not bad.
Scotty: Not bad.
Jay: But he was asked a question. I don't remember the exact question was, but I so remember the answer. He said, you know what? I don't know that I'm that much better, not much smarter or a great athlete. He goes, but have something that I call competitive endurance.
Scotty: Hmm.
Jay: Just keep doing it day in and day out. And I won't stop. And I kind of have started now to marry those two things, you know.
Scotty: I love that man.
Jay: And then the try to maintain the competitive endurance and just every day, get up and walk the steps again. And dude, its, I'm not perfect guy. Gosh, I wish.
Scotty: Yeah. Who is right?
Jay: That's been a break through.
Scotty: Dude that's a great name. Competitive and I've never heard that before. Competitive endurance, so.
Jay: I’ll send it to you, so awesome.
Scotty: Coming from a guy that does okay. So, what do you think? What is it that keeps people from having the competitive endurance? Is it when you heard that, that obviously clicked for you, right? [03:42.8]
Jay: Yeah.
Scotty: But a lot of people they have, no, no, no, not for me. I'm going to go look for a shiny whistle, right?
Jay: Yeah.
Scotty: That's more fun.
Jay: Dude you nailed it. It's more fun. It's more fun to go out and find something cool and new and be like, man, that's exciting. It's like Christmas, every time you find a new guide, dude this is just great. The other dude is it's just work. Competitive. Endurance is really just another word for work. You just do the work every day.
Scotty: Yeah.
Jay: And it's sexy and it's not glamorous, but it is tried and true.
Scotty: So, I don't know if everybody knows you're on the breakfast club. We have a phone call every day, Monday through Thursday. I love it. I've been doing it for a year and a half. It's been like surreal. Like that's where I've literally felt that I we've met. Cause we've, I think hung out for like a hundred days, you know what I mean?
Jay: Like coffee every morning.
Scotty: So, did we talk about this DSP and dude, you're one that shining the light for people on the DSP and you took it to another level and I'd love for you to talk about how you've taken the just or the Thor's hammer of setting realtor appointments. Like what did you do? Cause you think you were one of the first ones that said, man, I, I hate making calls. So, I hired somebody to make calls for me. And now I just show up. Tell me about that man. [04:55.5]
Jay: Yeah, it's I think, you know, there's a talking into the mirror part that comes with telling yourself the truth. And I can get up every day and say, I'm going to do this no matter what. And I know darn well, I'm not gonna. Dude, I was not going to cold call an hour a day, much less three or four. I just wasn't gonna do it, but it needed to be done. So, you know, again with your guidance and so many other folks, call this person, set up a VA, get the appointment, hire someone, set them loose on it. I swear to you, dude, it was probably the next darn day. If not that day, I called that guy. He was in Vegas; it was in the morning. He was like, well it's still dark here, I'm running. I'm like, well, that what got ya. Can you talk? And I was all over it. I was ready to start. [05:41.4]
Scotty: Yeah.
Jay: And you fast forward to, it's been a year now since I've been using that. I take a break now for 30 days or so to kind of rush in that list because what my folks do, I stay folks I've had several one at a time is just call my list of realtors that I don't know. Invite them to meet with me via phone zoom. It really, for the first-time phone or zoom are the options, I don't do an in-person first-time meeting. If they don't like me or I don't like them, dude, you're stuck and I don't have time for that. After five minutes, if we're not jiving, it's easy to say Scotty man, you're awesome guy, I'm so glad he took the time, but I'm going to respect your calendar and let you get back to work today. And then just secretly cross them off my list, right? [06:21.9]
Scotty: So, you do zero like even if you like the person, you still do zero in person?
Jay: Kind of. First call is always phone or zoom only.
Scotty: Okay.
Jay: If we hit it off, I have a list at the end of the week that I send to my VA. Call these people back and his script is, Hey Jay said, you guys had a great meeting. Really, really enjoyed talking with you. He would love to sit down for coffee. See if we can get something on the calendar for like Tuesday, whatever. Throws out a date, I've got Jay's calendar in front of me. But until we make that first connection and we both know it's mutual, they have to like me too. They might say look, like that stupid grin on your face. That's okay. Cause again, let's not waste our time.
Scotty: Let’s be honest right, just be honest.
Jay: Right on. Right on.
Scotty: I love it.
Jay: This is a lifesaver. I've met a ton of great agents through it. I've met others where I'm like, you know what, those aren't my people. That's okay.
Scotty: Yeah.
Jay: You find your vibe. And then you'll, it just takes care of itself, so I love it.
Scotty: Do you have a
Jay: It’s awesome.
Scotty: Isn’t it, I mean, isn't it such a freeing, like I'm getting jitters right now. Like that it's so amazingly powerful to just wake up and show up, you know. [07:32.0]
Jay: It's a kind of a morale boost, because this poor guy or girl on the phone gets all the no's. And as far as I know, everyone said yes, cause those are the only folks that showed up. And you feel like, wow, this, Hey Scotty wanted to talk to me today. So, this is easy.
Scotty: Yeah.
Jay: It's awesome, man. I love it.
Scotty: It’s a.
Jay: It's really the best tip that you guys gave me that I implemented immediately and have made money on.
Scotty: Oh, it’s just yet. Sky's the limit baby on that, you know, when you, I mean, how many appointments you ask? So, my next question, like how many appointments do you average per week? Like when your caller starts on Monday, what is he looking for? Do you have so many spots on your calendar? How does that work? [08:12.1]
Jay: Yeah, so Monday through Thursday are my meeting days. I usually go from nine or so until four. And usually, I'll hold him to three meetings set a day. So typically, I have.
Scotty: Love it.
Jay: They start to pile up as you might imagine, right? Day after day. So usually, I have between 15 and 18 meetings set per week.
Scotty: Wow.
Jay: Which is another reason for zoom.
Scotty: Wow.
Jay: I can drive all over town like that. You can knock them out. Another thing he does for me, which is why you ended up with three meetings a day, times four, that's 12, that math doesn't work, but he'll call ahead of time and make sure, Hey, I get it. We know the business. I know schedules change in a hurry. Are you still good today? If not, I've got Jay's calendar in front of me. I can reschedule you right now. If so, can't wait to talk to you.
Scotty: Wow. Live phone call.
Jay: Yeah. And it drops the no-show rate significantly. [09:08.7]
Scotty: Very cool man. Unbelievable man. And you know, I think honestly you had yours before I had mine and I'm like, what are you doing Jay? No, WHAT
Jay:
Scotty:
Scotty: I know, but yeah like, you know, I was like, okay, what are you doing, Jay? Like, it's like the room got quiet, cricket. Like, what's Jay doing?
Jay: I think the magic is just figuring out what it is you don't like and find someone who can do it and then keep the stuff do like, cause it, it just makes the, makes your Workday fun.
Scotty: Yeah.
Jay: I enjoy and it doesn't work. My wife laughs and says, oh, you just make friends for a living. I don't know. But some days it feels that way.
Scotty: You know that's another, another mic dropper. I just make friends for a day like Yeah. Like every single day. That's pretty cool. So, we have the Tuesday, Wednesday, Thursday. Who does your, like, do you do those? Do you do the, just ask on Tuesdays the database and approved and looking? Or who does that for you? [10:02.6]
Jay: Yeah. So, I have a loan officer assistant or junior loan partner, her name's Megan. She does a lot of that for me.
Scotty: Okay.
Jay: And you know, totally honest and transparent. Some of that's falling through the cracks right now because we don't have a, she has other tasks as well. You know, if I set these appointments, I have got to be there. There's no like you miss someone.
Scotty: Yeah.
Jay: And then eat mud already.
Scotty: Yeah.
Jay: So, we need to clean that up and we're in the process of doing.
Scotty: Cool, man. Hey, as you know, growth is hard, right.
Jay: It is.
Scotty: As you grow, it's just yeah, putting a small village together and good stuff. So so, somebody.
Jay: I think not doing it perfectly doesn't mean don't do it. Just keep doing it and improving. [10:41.0]
Scotty: Amen. Amen. I mean, what I've learned and you know, this is when somebody like Megan, I was going to ask you for a number. Like, no, I'm just kidding.
Jay: That’s it.
Scotty: What's her number man? So, what we find out with people like Megan is they're detail oriented. They're I mean, they have a list and if there's not a list, they don't feel like they're doing their job right? They need to know that they're check, check, check. So, if it's not, you know, every time I hire somebody, I make sure that it's a very detailed description of what they're supposed to do, which you taught me as well. So.
Jay: You’re too kind dude, you’re too kind. I don’t think.
Scotty: Oh man. Oh no, this is no joke, dude. Like if you're the smartest guy in the room, you're in the wrong room because what I say. So, when Jay's in the room, I'm in the right room. That's what I'm saying, so. So as far as the, she does all those calls, so she does the, just ask database and approved and looking. She does all those. [11:31.3]
Jay: Yeah. She's like I say, she's my mini me. She's certainly not as ugly as I am, but she's my, my clone self, right. So, she takes the applications, runs credit equals does all that stuff. And then she has that bond with folks because of that. So, it's easy and logical for her to make that call. They expect to hear from her. And what she does is part of it too, is that like kind of a loan consultation for me. So, I do go in and establish, you know, we're a team I'm kind of the team lead. Here's how we work.
Scotty: Gotchya.
Jay: It just makes people, expect to hear from her because they really started that process with her.
Scotty: Very cool. Very cool. How did you find, how would somebody listening, like Jay, I want your life, man. Like, I'm going to get to it. What does Jay do right? Like, okay so, somebody sets your appointments. He shows up, which I get that, Jay, what else you doing? But like first, what? Like where would somebody find a Meghan? Cause I know Megan, Megan is instrumental to success and you know, we have friends that have many Megan’s, right? Like two or three or four. I mean, you can build this thing as big as you want. And what do you see in increase if you remember it's been a while, but what'd, you see an increase when you, when you were able to find a Megan, as far as loans? [12:41.3]
Jay: There's an increase and a decrease, right. Increase in just your time to build your business and step back and actually look at it instead of constantly be in the work on your business, in your business, totally become cliche. But it's very true.
Scotty: Yeah.
Jay: The closer you are, it's harder is to see exactly what's working and what's not, and there's always a little of both. So, bring it on a, Megan allowed me to take two steps back, see it all work and then figure out if it's working. You know, and then certainly what we picked up. She's very, very sweet, very conscientious. People are gonna like her way better than me, which I have no ego about. That's perfect. That's makes her perfect for the role. And if you've ever looked at my reviews, it'll say, you know, Megan did such a great job.
Scotty: Wow.
Jay: Again, I love that.
Scotty: Love that.
Jay: She deserves that.
Scotty: Yeah. Yeah, awesome man.
Jay: It’s, it’s cool.
Scotty: So, what's next for J man? Like, I mean, you got this thing pretty dialed in. It's just a couple pieces here and there. It sounds like, and it's a to the moon, like what's next for you brother? [13:40.2]
Jay: And you know, I don't know if that's the case. It always feels like the constant struggle and not in a bad way, but just constantly improve. Yeah, like I said, fine tune this reallocate some resources between or some duties between the resources I have. Add someone else, we don't do any marketing, not a lick of it. So, I have a marketing person whose kind of part-time with us now and is going to get us out in front of hopefully more folks. So, there's always something.
Scotty: I don’t think The cool part is you said you're not doing it. It's always like every sentence is they or him or her, which is huge mind-shift right. Cause a lot of people that we know that we've talked to, like I do this, I do that. Like their list is six miles long.
Jay: Yeah.
Scotty: So, no wonder they only close five loans a month, right? [14:27.6]
Jay: I think a lot it; I'll say ego and I don't mean that in a bad way, it's just fear of letting go. And I've never had that fear and it takes me a minute to make sure that I have the right person in place. Once I I've covered that minute and they've proven me to me they do, I'm more than happy to let them do their job and get out of their way.
Scotty: Yeah.
Jay: So that I can do something else that I'm better at. I can do all of their, our jobs if I had to, but not nearly as well. Not nearly as efficiently.
Scotty: Yeah.
Jay: A lot of it, I would hate it would just be misery. And I'll tell you not a, one of them would trade me.
Scotty: Right, right. True
Jay: They don't want to do what I do.
Scotty: Right on.
Jay: I tell them all the time. I'm here to not paint you into a corner, but to help you build your career as well. So always be honest. If you want to be a loan officer, tell me I'll pave that road for you. I'll help you. And you're like, oh hell, we don't wanna do what you do.
Scotty: Yeah, yeah, right.
Jay: So, you know, there's a reason we're all different. And we all have our spot.
Scotty: I love it.
Jay: Without a doubt, I love him to death. [15:27.7]
Scotty: Yeah. I just know when I, I just know that you have that, what I call that, and I'm not trying to flow your boat, man, it's just, you, you know, it's true. But like you have that IT factor, you know, when people meet you, it's just like, you're genuine, you're confident. The more people, you know, and you say you don't do any marketing, but like I see marketing is phone calls. I mean, you're, you're not lacking phone calls. If you were trying to do the marketing and avoid the phone calls, then I would say, okay, we need to talk about that. It was like, you're doing three 12 calls a week on average, even if half, you know, no-show.
Jay: Yes.
Scotty: You're talking to six agents a week.
Jay: Easily.
Scotty: That's 24 agents minimum per month. Like what marketing do you need when you have that you know. [16:05.7]
Jay: It's a good question. Now I ask myself that currently, as I'm kind of looking at a marketing person, now what's going to, I don't want to stop these things.
Scotty: Yeah.
Jay: They're working. I enjoy it. But I don't want to turn a blind eye to other opportunities. So, what's going to not just be new and shiny and exciting pants, what we're currently doing. I don't know that I Excel in that to figure that out. So a lot of times Scotty, we just try it.
Scotty: Yeah.
Jay: And you know, maybe version three works better than version one.
Scotty: Yeah. Good point. Good point. Well, man, dude it's been an amazing time hanging out with you the last year and a half.
Jay: Likewise.
Scotty: Finally getting to meet you for real.
Jay: In person.
Scotty: if you're like going back. I mean, I've, I've known you for five years, right? At least five.
Jay: Yeah. Yeah, gosh.
Scotty: Crazy. So going back five years, knowing what you know now, and you're like, you were to walk in that door five years ago and you telling somebody that's where you were five years ago. What would you say to them? Like what would you say to an LO who's either just getting in or maybe been in five years, 10 years, 20 years and they're kind of stuck at those four or five loans a month.
Jay: Yeah.
Scotty: Spot. What would you say to them? [17:12.2]
Jay: Yeah, don't overthink it.
Scotty: Yeah.
Jay: Don't think the advice you get because you're like, I've heard it all. I've read it in the books and that can't be that easy. Sometimes it is exactly that easy. When again, easy is not doesn't equate to no work or no effort. You still have to add effort. But to think that you shoot, if I was taller and more handsome and thinking I could take on the world, Scotty, but shit, and I'm just me. You know, those stupid things go through your head, they must be better sales person than I am. They must be more engaging, more whatever, right? You always have that, that doubt the back of your mind. And my best advice, if I could give it to myself or if someone else let that go.
Scotty: What about, and this is a tough one.
Jay: Hit me. Hit me. [18:00.0]
Scotty: Five years from now.
Jay: Yeah.
Scotty: You walk through that door, fast forward five years, man. This gives me chills because you and I are going to be on a beach somewhere on a I'm just putting that at the end of whatever you say here. So, we're going to be, we're going to be drinking somewhere, gonna read it somewhere on the beach, but like.
Jay: We'll be zooming each other from different beaches, I'm sure.
Scotty: No, same beach, man.
Jay: Right on.
Scotty: We won't be zooming. There's no more zoom. So, what, what do you tell yourself five years from now, man? I mean, this is like future casting. This is like, I'm going to walk in that door at one of these events five years from now and man…phew… [18:31.3]
Jay: Yeah, so honest to goodness man, I hate doing that because it just almost scares me into paralysis sometimes.
Scotty: Hmm.
Jay: Like you're not going to get there, stop even thinking about it. I almost have to just get up and walk the steps and keep getting better every day, if I can. And if I have a bad day, then usually let myself say man, the five years it gets to be here. I'm going to be here with my wife, hanging with Scotty. It's honestly too big and too scary for me, dude. I hate to be a sissy. God we're live on Facebook.
Scotty: I know man.
Jay: Podcast and here I am being a wimp, but it scares the daylights out of me to look forward and really be honest with myself about what that vision is.
Scotty: Cool. That’s fair enough.
Jay: I see it's 1:30 and I still feel like I just need to get through today.
Scotty: That's fair, man. It's a tough question. You know, there's a lot of thought that goes into it. And the only reason I ask is one we're live. So, then you're putting it out there.
Jay: Yeah. [19:33.7]
Scotty: And so, Hey, I'm going to save this. I'm going to send it to you five years from now, you know, so.
Jay: Only enough for you. So, in five years, I really want a team that totally runs itself. I'm too young to be retired in five years. And I don't really see myself wanting to retire, but I really want to be one step further out of the business as far as the day-to-day workings and, and really a strategy strategic, gosh, this is a big word, visionary of where we go and how we get there.
Scotty: Very cool man. Love it. I love it.
Jay: That's how I see it. Yeah.
Scotty: Can I count on you for that man?
Jay: Dude, I'm working it every day. Every day I'm trying.
Scotty: I know you are, man. I know you are. So Hey, dude it's been an honor, seriously, an honor. I feel like the lucky one, man, that we became friends five years ago, so, I appreciate everything you do. I appreciate your engagement in that loan officer breakfast club all the time and you're just you're there. So, I appreciate you for that. And so, anything I can ever do for you, man, I'm here for you, okay bro. [20:27.8]
Jay: Dude, you guys have done so much for me, I'm so grateful. Gosh, it was a life-changing event when you called my phone and I'm like Z, right? Cause I was the one-man band and I'm like, dude, Scotty, I don't know who you are, bro, but. What? What do you want? But thankfully I don't remember how it exactly went. Probably not that bad, but thankfully I answered that call that day because it's a different trajectory sense and a great one.
Scotty: It's been a good
Jay: That’s what you do brother.
Scotty: Thank you man.
Jay: I'm having fun.
Scotty: I'm having fun. We're both having fun together. That's the cool part, so.
Jay: For sure.
Scotty: All right guys, thanks for being here with us on Millionaire Loan Officer powered by Mortgage Marketing Animals and loan officer breakfast club. If you're not joining us every Monday to Thursday, you're just missing out. I'm sorry, but you're missing out.130, 140 of us every single day. There's so many mic drops, there's strategy calls, there's ideas like this. We talk about the daily success plan. Every time we have mic’s minute at the end, I love mic’s minute at the end of the day. It's only 30 minutes, it's a great way to start your morning, so hope to see you there. And Jay, I know I will. Dude we got a four-day weekend. [21:33.6]
Jay: What you gonna do?
Scotty: Dude...Family. I'm hanging.
Jay: Nice.
Scotty: I'm hanging, chilling, family time. So, I hope you hope you're doing the same, man. I know you are.
Jay: Nice weather.
Scotty: Yeah.
Jay: The storm moved through, weathers going to be great. Going to just enjoy every minute of it.
Scotty: Awesome. All right guys. Thanks so much, Jay. Thank you so much, man. I appreciate you. And just honored to have you on.
Jay: Pleasure dude.
Scotty: On Millionaire Loan Officer and we'll see you. We'll see you Tuesday morning on Loan Officer Breakfast Club. I've good day everybody. Appreciate you man. Take care. [21:58.5]
I'm a Millionaire Loan Officer.
Thank you for tuning into the Millionaire Loan Officer podcast with your host Scott Hudspeth, don't forget to visit MLOlive.com to have your questions answered. See you next time. [22:18.0]
