NMP - July 2018 - 51

How to Recommend Your
Competition and Still Close
More Loans
By Brian Sacks

I

This Realtor now loves me
and he should
When you are viewed as an
industry expert and resource, you
will always be able to generate

Ever hear the expression
pigs choke and hogs get
slaughtered?
What I am about to tell you will
seem strange on the surface. For
those of you who know me, you
know I am a black and white
person ... no gray even exists in
my mind. When you do the right
thing it comes back to you. When
you do the wrong things, they
come back to you as well. But
the conversation needs to go
even deeper than that because
you either have prosperity
thinking or scarcity thinking.
Which one are you? Stop
and be honest with yourself
Someone who has scarcity
thinking would never recommend
a competitor to a client or an
agent, but someone who has
prosperous thinking would.
Here's my view on this. If there
are 200 deals done each month
in the three counties I cover, well
I only need 20 of them. My
competition can divide the other
180.
There are other ways
to give back and get new
deals as well
Why not get active in local
charities that have causes you
believe in. When you do get
active, you will gain exposure to
others who are also active. I have
met many of my top agents,
financial planners and clients
through my involvement in doing
good. Please don't do this simply
as a means to network. You must
be active in something you truly

believe in. You can also take this
one step further and actually
donate to the charity for every
member that uses your services. I
actually make it a point of
contributing to different charities
on a rotational basis based on
the number of deals I close each
month. This gives you a great
chance to do something good,
while at the same time, getting
some great free PR for you and
your brand.
Let's get back to your
competition for a minute
Two or three times a year, I have
breakfast with my competition.
HUH?
Yes, you read it correctly. First,
I view them as peers and friends
and not competition because I
have prosperity thinking, not
scarcity thinking.
But this meeting accomplishes
a number of important functions.
First, we all get an update on any
new programs or products
coming into the marketplace.
These competitors work for
banks, credit unions, brokers and
bankers. Second, we get to catch
up with each other and
mastermind about what's working
and what challenges we face and

how we are dealing with them.
Try this for yourself ...
l First ... take stock of your
thought process. Is it
prosperous or scarcity thinking
and fix it.
l Second ... get active in a
charity and start doing some
good.
l Third ... find out who your
competition is and set up your
own quarterly lunch or
breakfast meeting.
l Fourth ... be a resource to all
who contact you.
By the way, that agent and
their client did find a home and
settle. The agent has since told
several other agents in their
office about what I did and they
have referred clients to me.
Finally, the person I referred
them to was not someone I knew
very well, but they are now part
of my "Breakfast Club."
It turns out that the credit
guidelines are pretty high for this
particular grant program and they
are only able to settle about 40
percent of the people who apply
for this grant. Guess who will be
getting the referrals for the other
60 percent they cannot help?

Brian Sacks is a nationally-renowned mortgage expert who has
career closing of more than 5,924 transactions for more than
$1 billion. He has trained, consulted and coached tens of
thousands of loan officers and company owners over the past
32 years on how to close more loans, make more money, and
still have a life. Brian is the host of "Top Originator Secrets,"
which can be seen weekly on Mortgage News Network and on
his blog. For your free four-part video series on "How to Finally
Close More Loans, Make More Money and Have the Time to
Enjoy Life," visit TopOriginatorMastermind.com/MMM, and
learn more about the Top Originator Mastermind at
TopOriginatorMastermind.com.

51

n National Mortgage Professional Magazine n JULY 2018

Would you refer a loan to
your competition?
The other company simply told
them to go rent, while I am now
perceived by this agent as a
resource, honest, and a deal
saver. See, the truth is that there
are very few companies that offer
everything. Those that do may
not really do a great job with
certain products or programs.

new prospects and deals. Try to
be up on all of the available
programs offered, even if you
don't offer them all.

NationalMortgageProfessional.com

know this will sound
strange to you and is
probably not the best way
to start an article but here
goes: Are you selfish or
generous? Do you have
scarcity thinking or do you think
prosperously?
Let me tell you about a
situation that happened to me
recently. A buyer called me who
was referred to me by one of the
top agents I work with. I went
through the qualification process
with them and found out that
they really didn't fit into any of
the programs we currently
offered.
They told me that they had
already spoken with another
lender a friend recommended
and that they did not qualify for
any grant assistance or other
program types. He then
suggested that they search for a
rental instead.
After learning what their
situation was, I told them that
there was in fact a program
available to them, but
unfortunately, we did not offer
that particular grant program.


http://www.NationalMortgageProfessional.com http://www.TopOriginatorMastermind.com/MMM http://www.TopOriginatorMastermind.com

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