Mortgage Coach 10x Tuesday - March Session

Introduction

• First 10x Tuesday of March, end of Q1 2024.
• Recap of Momentum Builder conversations with executives and loan officers.
• Discussion around mortgage business challenges, particularly financial stress among professionals.

Theme and Objective

• Massive Action Plan: Designed to help mortgage professionals navigate financial difficulties.
• Stories of overcoming financial struggles in the industry.
  • Example: Josh’s personal story from 2010 - facing massive debt and implementing a successful action plan.

Key Points

Current Market Challenges

• Many mortgage professionals facing potential exit due to financial constraints.
• Emotional states vary: capitulation, depression, hope.
• Survey of audience emotional state: Most between capitulation and hope.

Mindset and Strategy

• Importance of maintaining a growth mindset.
• Quotes and philosophies from Tony Robbins and Jim Rohn about controlling mental focus.
• Advice on focusing on opportunities rather than obstacles.

Action Plan for Success

• Steps outlined by Josh Metal:
  • Morning Routine: Wake up early (suggested between 4-5 AM) for dedicated focus time.
  • Mindset Rituals: Read, learn new skills, and set a positive tone for the day.
  • Physical Activity: Engage in exercise before 7:30 AM to clear negative energy.
  • Client and Partner Outreach: Regular calls with past clients and realtors.
  • Open House Strategy: Visit open houses to build realtor connections without needing formal appointments.
  • Advice Over Price: Focus on providing financial advice to clients rather than competing solely on price.

Challenges for Realtors

• How to help realtors with the current housing market issues:
  • Housing affordability.
  • Public perception that it’s a bad time to buy.
  • Misconceptions about renting vs. buying.

Solutions Using Total Cost Analysis (TCA)

• Example Scenarios:
  • Buy vs. Rent: Show long-term financial benefits of owning property using TCA.
  • Interest Rate Buy Downs: Use creative financing solutions to make homes more affordable.
  • Educating Clients: Explain the financial implications of different mortgage strategies.

Tools and Resources

• Mortgage Coach Platform: Use TCA to illustrate financial scenarios for clients.
• Training and resources available at Trust Engine.
• Loan Atlas: Coaching and mentorship platform for mortgage professionals.

Conclusion

• Encouragement to take Massive Action and focus on growth despite current challenges.
• Reminder of the potential for financial freedom and career success in the mortgage industry.
• Upcoming Modern Mortgage Summit as an opportunity for further learning and inspiration.

Call to Action

• Participate in upcoming training sessions and events.
• Continue to apply and iterate upon the Massive Action Plan to achieve personal and professional goals.