#WhackedOutWednesday – Is back, and I fully dress the part!! It’s the #Ruleof25! If you struggle with getting consistent deals from partners it’s probably because that partner isn’t in the 25% segment you think they are. There’s four parts to the rule of 25!
Here you go –
Here’s the rule, it has 4 parts:
1. 25% of the people LOVE YOU no matter what you do. Now of course we need to close on time, give great communication during the loan process and follow up on their leads, but these people are the dream to work with and will forgive you of the occasional “Oopps!” (we all have those from time to time)
2. 25% of the people DON’T like you, no matter what you do. Even if you toss these people gold coins, they’ll complain that you are throwing something at them.
3. 25% of the people LIKE YOU, but are on the fence, and at the whiff of an issue of any sort or size, they fall into the camp of “DON’T LIKE YOU”. These are the referral partners where “you are only as good as your last deal.”
4. 25% of the people DON’T like you, but are on the fence, that if you juggle just enough bowling balls, they like you for a period of time, but soon as you drop one of the balls, they don’t like you again.
The secret to this is to find and hang out with the 25% that love you no matter what! This applies to a lot in life, but we’ll keep it business centered.
The referral partners in this segment, nurture, and do what you can to add as much value to. These referral partners will be long term and lead to a business life of Happy, Joyous, and Freedom. $$$$
Working with and getting referrals from the other 75% is wasted effort, and leads to a life full of Restless, Irritable, and Discontent. Basically each group has it’s “segment of what’s tolerated”. And there’s no real relationship grown no matter what you do.
They key to all this is identifying who is in which group, which takes a bit of time.
I have found that to do this requires a bit of patience and requires strategies that put you in front of prospective referral partners as it’s all a numbers game.. I’ll be going over some of these strategies on my WEBINAR next week. The secret is to GO WIDE!
The more agents/brokers you meet with, the more of the “25% that will love you no matter what” you will find. Keep in mind that each referral partner that sends you a deal per month, and assuming you make $2,000 per closed loan, is worth about $24,000 per year in personal income for you as an LO. From an AE perspective the math can be similar with more quantity of loans.
Want to make an extra $100,000 next year, just find 4 of them (More Partners)… See how easy this is!! And when you find those that fall into your 25% “Love You no matter what” category, it’s just the coolest thing ever! Business is fun, and can be very rewarding.
Just wanted to share with you the 25% rule so you can have an even more epic mortgage business with referral partners of all sorts in 2019. This applies to all referral types and business no matter what b2b or b2c. 🙂 #AEs Take note.
As Always –