To understand where we come from is, in part, to understand the the very way we started. Do you recall your first Real Estate Transaction?
I was working for the Federal Grill here in Allentown, a somewhat recently extinct semi-fine dining restaurant. While life there seemed to be that of a rock star, without much in the way of fame or fortune, I was unhappy because I hadn't a clue of what I was going to do for the rest of my life. My dreams of catch as catch wrestling had died because the passion withered and my contempt for the industry grew. I was lost and didn't know the next place life would take me, or where I may take life next.
A gal I worked with at the Federal Grill, I'll refer to her as Beth Forbes (I dare you to look her up on this forum)... moved on to the world of mortgages. Roughly two years after she made that transition, she entered the Federal Grill and I just had to ask the question, "Beth, are you hiring?" I remember, if I'm not mistaken, her answering... "Aggressively."
So began a young journey into a world I had no clue about at the time. I would meander into the office every chance I could to learn and try to drum up business. While I hated talking on the phone, that became my only way of generating enough action to quantify me being able to come in and have anybody pay attention to me or teach me a thing. I was willing to pay dues and while my parents are successful folks, I had always earned my keep and done things the hard way... because I thought it was the right way. They thought I was crazy; I knew I was just stubborn.
After many a phone call, I ran across a couple who were in debt out their ear-hairs and needed help bad. My call was timely in reaching them. I should mention that when I started in this biz, rates had become super low and the refi boom was on the verge of becoming an epidemic that would tease any gibroni who wanted to make a buck to be an 'expert' in this industry. I never understood that mentality, still don't.
Yet, these folks didn't qualify in any facet for those rates so heavily advertised on television & local newspapers back then. Young me, I heard what we could do for them and immediately retorted, "8.5% on a fixed rate? Why would they ever take that with rates so low?" My mentor at the time pointed out the astutely obvious, we are consolidating a lot of stuff and saving them $400.00 a month. "What does the interest rate matter if they are saving money along the way? Plus, they don't qualify for anything else!" I replied, "They will not take it, that interest rate is way too high."
Well, they took it and it had nothing to do with my sales technique. I didn't think they would want it, yet it was they who knew what was best for them, especially back then. I told them what was available and they never balked. I collected my net paycheck on that very small loan of $500.00 and quit my position at the Federal Grill and started full-time at First Choice Equity Group, Inc. Sardi grew a nut; Sardi realized that folks will always buy houses and need money. Young Sardi realized that what seemed a good deal for them to me ... wasn't necessarily shared by them and vice versa. Young Sardi realized that sales is a game of friendship and I hope I can provide what you need to be done to better your world.
As our world grows more complex (in perception only most of the time;-), I realize this isn't a game at all. Can I help or can't I; let's leave the rest aside. I called that couple again about six months ago and they are doing pretty well. They seem to be one of the better stories of all that is happening. They have eight years left on their mortgage and have no other debt at all.
We concentrated on the interest rate for so long, it makes me wonder if we ignored or dismissed the true value in Capitalistism... Savings. I know I did.
America... it's freaking Friday, well technically Saturday. None the less, grow some nuts and be the squirrel that eats away... and helps out in the every way. Feel good and not just because it is better than being hurt...
Hmm Really interesting Jason - that really made me pause and think and consider how I do my business...although not the mortgage business......I feel comfortable with knowing that my clients interests are always first........Sometimes I fear my interest in their 'best interest' are stronger then 'theirs are'.........lol........not did you get that convoluted thought? :-)
I remember my first deal.... a refi. They have called twice since then to discuss other opportunities.
My second deal was a purchase. I talked to her last night.
Parked, running to an appointment. Coming back because you know what a third grader I am - I have to read your stuff a couple of times.
Sardi those were thedays. Both of us trying to figureout what we wanted to be when we grew up. Who would have thought with combined degrees in Psychology, Economics and Political Science, a wealth of knowledge about human nature from slinging drinks, marketing from the WWE (?? I could never keep all that straight) school and the used car business that we'd end up as mortgage guys. Wait, that sounds like a pretty good recipe to me!
Hi Jason,
I remember when I got my first offer on one of my listings, thinking this guy is never gonna take this...He was thrilled and was happy to get what he got so he could move on with his life. :)
Jason, You are one of the most ethical people that I've ever run into and still can't wait until the time that we'll finally meet face to face. Sadly, too many people will not take this journey in their lifetime. Nevermind, do it on an ongoing basis as you most likely do. That's why too many get stuck in the so-called 'rut' and unfortunately live miserable existences. OK, so maybe that's a little too harsh, but I have to wonder.
Hey Jason - Nice piece. I do remember my 1st deal as a young buck of 19. I don't think there was anything memorable about it besides the fact that collecting a huge commission check at that early an age was pretty awesome. Now that Iam more wise it is never about the $$$ but making sure I accomplish the goal of my client.
Jason, life is all about continual change. We have to roll with it and learn from the past what happened. I read about a 60 year old retail store chain this morning that at the end of bankruptcy closed all its remaining stores. Nothing ever stays the same. You got to tweak your approach in business to do it right. Early on its about interest rate. Now its about people for you.
I remember going on my first listing appt. The broker came with me. The seller was telling us how he was trying to sell it himself to a pastor. My broker told him you had to be careful with those "men of the cloth". The seller looked her in the eye and told her he was a Pastor too! On the way back to the car, I laughingly thanked her for showing me now it was done! I got the listing anyway, unbelievably!!
That was 23 years ago. I was told by my mom that I simply wasn't tough enough to be a success in this business. I was told by another older realtor that my hearing would definitely be a detriment. I haven't toughened up much, my hearing is worse than ever and I have had good years and bad years, but I am still here.
Liz - If anyone can get convulted thought, it is I:-)
Tom - That's impressive. Returning clients are the barometer of a job consistently well done.
Audrey - Perhaps I am the third grader, have you ever considered that?
Beth - Sounds like a great recipe. I think we have an interesting way to recruit down the road.
Suzanne - The first one seemed surreal. Yet, to this day, each closing is special in its own sort of way.
Marc - We will have to meet, sooner rather than later. Our personalities & ideaologies meshed seemingly right away. Thanks for supporting a chap like me.
Bill - Sounds like your commission check was a bit more hefty than mine. And while money is an important tool to live and eat and drive to work and stuff... I've always believed and still do that if you do right by your clients... the money will take care of itself.
Gary - Adapt or Die. I always kind of dug that line.
Susan - And my guess is you are still here for a reason, probably several. I understand about the hearing thing, you know I do. Someday I would be honored to work with you.
Man... I can't remember my first deal.......... I think I need a drink
Lewis - It's after 12:00 PM on a Saturday; Belonger is serving Martini's and watching College Football. What were rates like in the 1960's;-)
You drinking Martini's at Jeff's house today?
actually is was the 90's and during the 125% heyday..... 16.99% and 5 points Cityscape, First Plus, Empire ahhh the good ole days.......... you coming to DC for the Skins - Steelers game?
Do I have to feel better? I think I may have had a bit too much to drink last night. I should be at Belonger's curing my misery :)
I remember my first transaction (it wasn't all that long ago) and what strikes me about that is that they had no idea it was my first. They thought I was a magician and in a way - looking back - I was. It's still the most difficult transaction I've done to date. But they are very happy and it felt terrific being instrumental in helping them realize their dreams. I wish I could do more of that.
Lewis- Negative. Besides, I'm a beer guy. I never made a 125% loan, that product still boggles my mind. Seriously, I can and am learning from folks like you. So, I thank you for that. And no, I'm not going to be in DC... I'll watch the Steelers skin them from my comfortable abode:-)
Jennifer - Yes you do! As far as your first transaction, you are a magician and you should realize that. Between the ears my dear, between the ears. Take it from the guy whose synapses swell with curious notions of upheaval. This industry needs more of you.
My first was a referral from a friend. His brother was relocating here and they treated me with respect and from the get go he said, "hey...it'll be like the blind leading the blind". No matter what, through the whole thing I was walked through by everyone in my office. I drove a couple of them nuts ....but hey...the clients appreciated that I took the time to ask....to get them the proper answers and in the end.....they are still my friends. Their sons have grown...one is in college...the other in high school and they decided to remain here.
It's because of this first one...that paved the way for me to excel in all I do.....so my clients best interests are always forefront....and I sleep oh so good each and every night.
"Sardi grew a nut" -- enuf said. It's a Mad, Mad, Mad, Mad World was one of my favorite, albeit silliest, goofiest movies ever.
I remember my first deal. I was in my 3rd year of Law School. Rates jumped from 7.5% to 9.5% in the matter of months (early 94) and I was too dumb to know it. I went to a realtors office and took a loan application. What should have taken me 15 minutes to take the application took me almost 2 hours. What a joke....but I make a couple of grand.
When I came to FL I needed to make a few bucks so I worked at a friends coffee house. I made didley squat in cash but it paid my advertising...I also picked up a few mil...around 5 in customers who have done multiple deals with me...it just added to my client list.
Jason,
Remembering our beginnings keeps us humble and then we know what it takes to keep getting better.
Have a good rest of the weekend my friend.
Private: From me to you. I understand baby. You are never really alone.
Interesting post. I cannot remember my first deal/closing! Wow. That's bad.
Jason, how do you expect someone as old as me to remember when I first started, heck I have trouble remembering yesterday. But, I agree, we do our best with what we have to work with.
Jason, I like it !!! At the end of the day, buyers will always need a home.. sometimes a bigger home... sometimes a smaller home.... sellers will always need to sell due to relocation, tough times, needing a bigger home and needing a smaller home : ) . Always an inherent demand for realtors and mortgage professionals ! Am glad the person was hiring "aggressively" !
Having had a front row seat for the beginning of your mortgage career, I consider myself incredibly lucky to have you as a teammate considering how it started. Those beginnings were shaky, both literally and figuratively! The thing I remember most is how committed you were to making the effort. Even though you had little if any support. After several weeks of ignoring you, I figured you'd just go away. When you didn't, I just had to make sure you had all the chances to be successful you could get. Since April 4th, 6 six years ago, you continue to evolve into one of the most effective originators I have had the privilege to call co-worker, teammate and friend! Well done Jason!
Jason, this is not a bad time to look back at our careers and take stock in what we did and how we have evolved. I think my own style and motivation has remained quite similar...it's just that now I have a heck of a lot more knowledge and experience as you do as well.
I agree with what we think doesn't matter! If we offer to help and it helps them and they like us, they will use our services. The question has to be, what is in it for them, not me and the rest will come naturally.
Jason - I remember my first listings. It was the home of one of my best friends. She knew it was my first. Showed that home so many times I had the speach down pat and the gang back at the office would have me go through it everytime I came back from showing the home. We would all crack up laughing. Finally got the home sold at the price they wanted and my friend was very happy. In the end that's all that matters.
Sis - It was actually a year before I did a deal for a friend. I've probably made about five loans to friends since then. So far, so good.
Brian - I still owe it to myself to watch that flick.
Larry - It wasn't until recently that I even realized you went to law school. I guess it is good to have you as a friend after all:-)
Neal - There's nothing quite like referrals.
Dan - It does keep us humble and also allows us to revisit our roots and what got us to where we are at.
Jennifer - And neither are you... neither are you.
Erica - Well, you've been in the game a tad longer than I.
Fred - Does Mr. Flinestone ring a bell?
Christopher and Stephanie - I am glad as well. Everybody has to start somewhere.
Mr. Geary - For the longest time, I thought your smug self didn't like me. I was relieved when you finally took me under your wing. What a trip it has been.
Diane - I still do a lot of the same things, though I make far less mistakes.
Todd - Perception can certainly be a dangerous thing.
Sandra - That's usually where we start, family and friends. I didn't have that luxury... at least at first. It's nice to hear that transaction was a success.
Sardi... it goes back to the basics.... I tell clients, don't focus on the rate, focus on what your goals are or what you are trying to accomplish...