Going from $10 million combined in the first 3 years to $18 million in year 4 is no small feat in this business. What are the mindset and behavioral shifts that make such an achievement possible? How can we make our service more integrated with our client’s financial goals, and not just about rates?

On this episode 21-year industry veteran, Mark Maiocca, shares how he got 600% sales growth in his first 4 years, and how he’s continued to grow since then.

 

Resources

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Three Things We Learned From This Episode

The importance of the client profile (08:44 - 08:58)

It’s incredibly valuable to understand our ideal client profile, and sit down with our clients on the front end to make sure the fit is good. We’d rather part with the client in the first 20 mins than to realize they aren’t a good fit after 3 weeks. People will respect us more for that.

 

Build strong relationships with other professionals in the transaction (17:15 - 18:33)

There’s a big difference between being just another vendor and being a partner. By building a network of a Realtor, real estate attorney/escrow officer, property & casualty insurance agent, accountant and estate planning attorney, Mark has strong relationships with like-minded business owners and generates systematic, predictable referrals.

 

Our service should integrate with every aspect of the client’s financial plan (24:25 - 25:25)

If our clients have one small hole in their financial plan, it doesn’t matter how well they are doing— it will impact them negatively. People need to know what can happen to them. That’s why it’s critical for us to provide a service that puts the mortgage within a framework of good overall financial practices.

 

It isn’t just our job to give our clients a great rate— it’s our fiduciary duty to go the extra mile and make sure they are protected on all financial fronts. We need to understand how the loan structure fits into their whole financial plan. Even when it seems a bit intrusive, it’s our job to suggest what is best for the client, and introduce them to other professionals who have that same passion. Ultimately, instead of trying to sell them something, we should be providing a service and creating value.

 

Guest Bio-

Mark Maiocca is a Senior Mortgage Originator at Fairway Independent Mortgage Corporation. He has been in the business since 1997. He is the founder of Core7 Referral Network and the author of What's Your Rate?: How to Buy a Home and Secure Your Financial Future At The Same Time. Go to https://www.linkedin.com/in/markmaiocca/ to connect with him, or follow @MyCoreSeven on Twitter.