Kickstart Your Week ~ The Mortgage Coach Playbook
Quick recap
In this meeting, Ray and Scott interviewed Joey Giamarino, who transitioned from the nightclub industry to become a successful mortgage advisor at Fairway after adopting tools like Mortgage Coach and implementing personalized video communication strategies. Joey shared how tracking his numbers, structuring his week visually, and using technology to provide transparent loan options transformed his business from $8 million in 2022 to $13.5 million in 2023. Dave Savage provided additional insights on Mortgage Coach's AI capabilities and integration with other systems, while emphasizing the importance of adapting to changing industry best practices and improving financial literacy among potential homebuyers.
Next steps
Joey to continue using Mortgage Coach for all clients to show different loan options and improve client experience.
Joey to be interviewed by Dave Savage for the Mortgage Coach YouTube channel.
Dave to work with Joey or someone on the Fairway team to create a 5-minute tutorial on how to use the Encompass-Mortgage Coach integration workflow.
Ray and Pistol to complete recording 30-45 second videos for the digital library on the Ignite site about timeless mortgage principles.
Fairway team members to subscribe to the Mortgage Coach YouTube channel for industry insights and best practices.
Fairway team members to consider joining Dave's "Savage Insiders" text group for weekly video recommendations.
Summary
Joey's Mortgage Success Story
Ray and Scott welcome everyone to the meeting, sharing personal stories about their upcoming hike in the North Cascades National Park. Joey from Chicago joins the call, mentioning he might have his children appear during the meeting, which Scott appreciates as Joey has decorated his office with his children's artwork. Dave Savage also joins, sharing a humorous anecdote about his son's last name. The group discusses their ancestry and names before Scott introduces the main purpose of the call - to interview Joey Giamarino, who started in the mortgage business in 2020 with no experience but has produced impressive results, and to bring in Dave Savage to discuss Mortgage Coach, a tool Joey has embraced since day one.
Mortgage Coach Success Story
Joey shares his journey from the nightclub hospitality business to becoming a successful mortgage advisor at Fairway after COVID-19 shut down his previous career. He credits Mortgage Coach as a transformative tool that helped him grow his business, enabling him to achieve impressive numbers like $5.1 million with 9 units in March and $4.2 million with 10 units in April 2023. Joey explains that after initially putting off using Mortgage Coach, he finally adopted it in November 2022, which led to his first $3 million month and increased his annual production from $8 million in 2022 to $13.5 million in 2023.
Video Tools for Mortgage Success
Joey explains how he uses mortgage coach to visually present options to borrowers, making the home buying process more transparent and comfortable for clients. He incorporates personalized videos within mortgage coach, allowing clients to see his face and connect with him on a more personal level. Joey also uses Bombbomb for one-to-one video communication throughout the process, sending birthday videos, updates to listing agents, introductions, and explanations of loan documents. Despite initial hesitation about recording videos, Joey now finds it easy and effective, noting that it helps set him apart and shows everyone involved that he's attentive to the transaction.
Personalized Videos and Data Tracking
Joey explains that sending personalized videos to clients has been a game changer, as clients appreciate the personal touch compared to just receiving texts or emails, and they often mention this in reviews. He also discusses the importance of knowing his numbers, tracking where every lead comes from since August 2022, and maintaining detailed records that allow him to forecast business trends and follow up effectively with referral partners. Joey compares this tracking to how athletes know their statistics, noting that it helps keep him focused and motivated.
Visual Tools for Business Success
Joey discusses how visual tools like whiteboards help him structure his week and keep track of client information alongside their CRM system. He identifies several key factors that transformed his business: using Mortgage Coach, incorporating video, and implementing daily structure. Joey praises Fairway's supportive company culture and offers to help others learn his Mortgage Coach techniques. Dave summarizes that Joey's success comes from knowing his numbers, making his work schedule into a game, and using video and Mortgage Coach to deliver value and convenience to clients.
Mortgage Coach Tools Success Story
Joey shares his experience adopting mortgage coach tools, noting it took a couple of months in early 2023 to see results and integrate them into his workflow. After missing deals in January 2023, he committed to improving and now closes six deals each January, with agents even promoting his Total Cost Analysis (TCA) to clients. Dave emphasizes that using the Encompass integration with mortgage coach is the most efficient workflow for creating reports, suggesting they create a tutorial to demonstrate this process.
Mortgage Coach AI Implementation Strategies
Dave discusses the importance of using mortgage coach with AI capabilities, which allows consumers to ask questions about loan options. Joey shares his approach to presenting total cost analysis to clients, emphasizing transparency and conservative estimates. Dave suggests giving clients prompt ideas for the AI feature and reminds that loan officers can see transcripts of client interactions with the AI. Dave also mentions his mortgage coach YouTube channel where he interviews successful loan officers, his weekly "10x Tuesday" sessions, and his "savage insiders" text group. He expresses concern about the rising age of first-time homebuyers (now 38) and promotes his nonprofit "First Home IQ" which aims to improve financial literacy among young Americans.
Top Tools for Modern Lending
Ray acknowledges the successful call with over a hundred participants and mentions that Mortgage Coach, Total Expert, and BombBomb are consistently cited as top tools in the toolkit, which are subsidized by Fairway's executive team. Pistol Pete praises Joey G's modern loan experience approach, highlighting how Joey empowers consumers with personalized videos and clear options. Dave adds that Fairway had strong representation at the AI Summit and emphasizes the importance of unlearning legacy methods while adapting to rapidly changing best practices, even as Ray mentions he and Pistol are creating videos about timeless principles for the Ignite site.