How Alan Helps New Mortgage Loan Officers Close 4+ Loans Per Month (Customer Story)

Nick Kozmin and Alan Bercovitz


Speaker 1 (00:02):
All right guys. So I am here with one of my clients, Alan Berkovitz from The Complete 1003 and Alan has been a customer for a few years. Now. We have been helping him get his business off the ground. He's got a very interesting business. He provides education for mortgage brokers in the US

Speaker 2 (00:24):
All mortgage lenders, not just brokers, all mortgage lenders, credit lenders, independent mortgage bankers, anybody depository back. If you make mortgages, we help

Speaker 1 (00:33):
Got it. So, Alan, let's get into it. Tell let's, share the story. Walk us through where you started. It's where, like how you arrived at this problem, how you're able to help these help us industry. And yeah. Let's, let's talk about the progress.

Speaker 2 (00:50):
Yeah. Thanks Nick. So I was operating in the mortgage industry for a long time, and I think most of us in the industry know that there's a pretty low skill level or a varying skill level among loan officers. And I, and a lot of customers ended up getting hurt. When the loan officer does a good job, tells the customer all, you're all set, you're ready to go. The file goes into underwriting and then something doesn't fly and people get hurt. The industry is mostly operated out of their head. So a lot of old folks in the business has been doing it for 2030 years and sure, some of the new folks stick and there'll be the next generation, but a lot of them fall out and cause a lot of damage on the way. So I wanted to have a systematic way to get folks ramped up. So I spent about 10,000 hours. I didn't do it the way that you would suggest it. I didn't try to sell the product before I built it. I spent like 20 hours a week for eight years or more building the product.

Speaker 1 (01:48):
Got it. And so what was your background? Like, what were you what was your

Speaker 2 (01:53):
Three are the straight anymore as an ex, you know, actually originating loans, managing people that originated loans. Yep. And so I knew the nitty gritty. I knew how it went and yeah, so I built this product to to help folks get ramped up faster and both make them more productive in terms of more carefully questioning the customer turns, asking better questions, the customers, more comfortable feel they're being handled by a pro and on the defensive side, not sending bad stuff into underwriting that has to be looked at touch. They say four or five, six times by the underwriter not having to be counter-offered with another program, not having to be rejected. That's the worst, right? The customers all thinks they're moving into their new home and they ended up having to move into their parents' basement. So it's not a good thing. It's not a good thing.

Speaker 1 (02:44):
Got it. And so what is, so let's talk about the results relative to the client. So what's your promise to your customer?

Speaker 2 (02:52):
Well, the, the, the general promises, we get new folks ramped up to be able to close four loans a month within 60 days. That's where the offensive side of the, of the training, the defensive side is more making sure that whatever they do send in to underwriting is clean and some customers are interested in both sides, but if there's a preference, it's more the defensive side. Yeah. Keep to keep the production running efficiently in the manufacturing process and not hurt the, not hurt the reputation of the customer, because one, one damaged customer, the word spreads pretty.

Speaker 1 (03:28):
Oh, for sure. Yeah, absolutely. And it sounds like that's a really important problem to solve. How did you arrive at this problem? Whereas you said you were working on this for over eight, eight years as you were in the industry. What, what made you make the jump after eight years? Like what was the, what was the, yeah, what was the point and, and the reason,

Speaker 2 (03:50):
Well, it's it, it is a full-time job to to run this. We are also are looking at getting the software, worked into the loan by loan daily manufacturing process. Not just to be a training tool. We do know that a lot of our customers are actually using it in the loan by loan manufacturing process, but because we're not integrated with the systems we don't let data be saved on our platform. Nobody has to worry about anybody's personal data being saved. So they're using it still loan by loan and taking the few things that they may find. It would be a problem and transferring it into their regular loan origination system or point of sale system or even CRM. And so it's it was a full-time job to be out, looking for a partner to get into daily manufacturing process with, we have a few potentials and then to be offering it as an educational tool. And I'm still the one dealing with the customers. So it's a, it's a full-time job.

Speaker 1 (04:50):
Got it. And so let's talk about your journey. So when you came to sales process IO, where, what was the current state that you were in?

Speaker 2 (04:59):
But a current state was, I had the product built up and ready to go. I was really hoping that one of the existing industry players would offer it as a product, but they wanted me to come in and get established and get customers first. And so that's that's what I did. I, I really could see that there was a lot of business being done online. I was on Facebook 95% just to see how business was being done. I could see little snippets, but I had no, no way, no way in heck that I was going to better pull that together on my own. I just, there was too many there's too many pieces.

Speaker 1 (05:37):
Right. And so what encouraged you to sign up as a sales process sale customer?

Speaker 2 (05:42):
Yeah, so I'm a pretty careful buyer and I shopped around quite a bit. And I liked with Facebook that if I inquired about a certain system, then I'd be targeted by other folks sell the same kind of system. And I had at least one other call with somebody. But, but as you know, one of the, at least one of your ads, you have the the very detailed diagram. So you go step by step by step by step. And I said, look, this guy seems to know how all these pieces that I can see flooding around in the backgrounds really come together online. And that was the, that was the main impetus that that got me to go with you as opposed to where there's more than ever. There's more than ever the amount of competitors now for your process. You know what I mean? A lot of copycats and, but I think I made the right choice guy. I got no buyer's remorse. Let's put it that way.

Speaker 1 (06:38):
Awesome. So let's just what were some of the benefits that you have experienced while going through the through the process?

Speaker 2 (06:47):
Well, it's, it's very, step-by-step, you know what I mean? It's Lord knows how many steps there would be. It probably, I don't think it's into the thousands, but it might be and you, you continue on your end to make it more granular and clearer and you don't, you never stop. We can clearly see you continue to build out the product as we're going through. So I was able to follow it along the way it was when I started and it with help and questions from you. And then I would be questioning the other service providers, the software that I had to have to have the business in place. Yeah, we got up and running. It's a good thing.

Speaker 1 (07:30):
And so you got some first sales?

Speaker 2 (07:32):
Yeah. Okay. 23 customers now, not a ton, but 23. Better than zero.

Speaker 1 (07:37):
Yep. That's awesome. And yeah, so you got your first sales, your pricing too. I know we had a lot of discussions around how to price it. Maybe let's talk about that. How did you arrive at your, your pricing, like the, or describe some of the benefits of working through the pricing with us and solving for the pricing?

Speaker 2 (07:59):
I know we might've had some pricing discussions. Goodness. We've had so many discussions. I'm not going to promise that I haven't forgotten some of the discussions that we've had. You know, I, we have some, I would say indirect competition. There certainly is quite a number of firms in the mortgage education space. There's nobody, this is what our customers tell us that is exactly a competitor to us because we're the only ones that focus on just the underwriting guidelines, making sure the proper questions are asked, making sure underwriter discretion every place where that can come up is taught. So yeah, we did the look at some of the other competitors on pricing and, you know, while I'm a, I'm a careful buyer, I figure I should be a careful seller too. And so I, I priced what I think is on the low end what the competition charges, but we have a specialty and it's going along pretty well.

Speaker 2 (09:01):
That's awesome. And yeah. W how, or who would you recommend a joint sales process IO who you think would be a great fit and yeah. Yeah. Well, you know, if you, I dunno, I I've, I've questioned you before. Do you really want more dinosaurs like me in the program, right. That I can barely turn the computer on now that's an exaggeration, but I mean, you know, I struggle with that. All of these tools. I mean, I, there's not one thing that I just, Oh, great. It works. I mean, there's almost not one time. So if you're, if you are somebody who is maybe older and just didn't grow up with technology but you still want to learn how to use it and do business on the internet. I mean, those would be the folks that I could directly relate to, but I see in the group, I'm on almost all the group calls and you've got a lot of younger folks too.

Speaker 2 (09:54):
You've got a lot of younger folks. Some of them maybe are selling through cold outreach now through cold out email and LinkedIn, but they don't know how to do Facebook ads. Right. And some people, they know how to do Facebook ads, but they don't do not do cold outreach. And so it'd be looking, maybe do both, but they want to make a sales team. So I'm seeing, have I missed any any of your niches? I don't know if I have, if I have you fill them in. Yeah, pretty much. That's it guys. I want to scale you either want to start with your first few customers and then, or you want to scale a sales team where you would just want to learn how to do video programs and you like use this type of consulting model. We have some people that are, that are doing that, which is great as well. Cool. So, yeah, Allan, I appreciate it. Where can somebody find you if they're interested in, in your offer? Yeah, . Watch the video before you go and schedule a call with Mr. Allen and yeah, Alan, I appreciate the, I appreciate the call and the kind words and appreciate what you've done for me. I appreciate what you've done for me. Okay. Thank you Alison. A lot, Nick. I'll see you. I'll see another call. Thanks a lot. Okay. Bye bye.

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