- The Affluent Factor
- Posts
- Edition 23021
Edition 23021
Why “Know, Like and Trust” is for Amateurs in the Real Estate & Mortgage World
Thank You so much for opening this email and taking 5 minutes to read my newsletter. I hope you find some helpful value from todays read where we touch on: A touchy subject... Get my feelings on “ Know, Like & Trust” & why I believe it’s a mindset for the lazy. If you disagree, please shoot me an email @ 👉 [email protected]
p.s. If you find any value here today, all I ask is you share this newsletter with your industry sphere. Just send them to www.AFnews.co or click the link below
Much Appreciated ~TB
Why “Know, Like and Trust” is for Amateurs….
Remember Silent Tommy? Oh, you don't? Well that name was bestowed upon me by my buddy Hector, that's because back in my motorsports days, I was the guy who'd zip through deals faster than a superbike on the final lap—without making a peep. They said I was as quiet as a mime at a library, but boy, did I make the cash registers sing. My secret? The 'Know, Love & Trust' trifecta. It wasn't just a sales strategy; it was like my silent theme song, turning me into the sales chart-topping, motorcycle-mongering hero. And when I switched gears to the mortgage biz? Let's just say I closed loans like I was swiping right on success—fast and furious. Top three finisher in any sales race? You betcha. And before you think I've got some sort of Midas touch—spoiler alert—I don't. I just tweaked the sales symphony while everyone else was playing the kazoo. Buckle up, buttercup, I'm about to spill the beans on how Silent Tommy became the Leonardo da Vinci of deal-closing
In a world where first impressions are digital and deals are closed with a click, the real estate and mortgage industry's heartbeat is the connection between professionals and their clients. The "know, like, trust" theory has long been the cornerstone of building these relationships. But as we stand on the precipice of 2024, a new paradigm is emerging—one that distinguishes the amateurs from the true professionals. It's the evolution from "know, like, trust" to "know, love, trust," and it's revolutionizing how business is done.
The Amateur's Playbook: Know, Like, Trust
For decades, the "know, like, trust" framework has been the go-to strategy. It's straightforward: become known, be likable, and earn trust. But as the industry matures, this approach is showing its age. It's a foundation, yes, but it's no longer the ceiling. Amateurs cling to this triad because it's safe. They rely on others to validate their worth, to affirm their credibility, and to endorse their services. It's a reactive stance, one that places the power in the hands of the clients and the market.
The Professional's Silent Creed: Know, Love, Trust
Enter the professional's creed, a more proactive and powerful approach. This isn't about just being known; it's about being recognized as an authority. It's not about being liked; it's about being loved for an unwavering commitment to excellence. And it's not just about being trusted; it's about exuding confidence in one's services and products, knowing they stand among the top tier.
1. Know Your Product Inside Out
Professionals don't just know their product; they understand it to its core. They can answer any question, address any concern, and highlight features that others overlook. They're not just selling a house or a loan; they're providing a solution to a client's deepest needs. This depth of knowledge creates a gravitational pull, drawing clients into their orbit.
2. Love Your Product Passionately
Passion is infectious, and professionals are its most potent carriers. They don't just like what they offer; they believe in it fervently. This love isn't blind; it's based on the conviction that what they're selling truly enhances lives. When professionals talk about a home, they don't just list square footage and amenities; they paint a picture of life within those walls. When they discuss loans, they're not spouting rates and terms; they're crafting a narrative of financial freedom and opportunity. Not because they’re trying to sell something… but because they are in love with their product and or service. Read that again, it hits different.
3. Trust in Your Unrivaled Quality
Trust is the final tier, the seal on the deal. But for the professional, trust in their product's quality is a given. They know they're offering one of the best options available, if not the best. This self-assuredness isn't arrogance; it's the result of relentless research, continuous improvement, and an unwavering commitment to excellence. It's what sets them apart from those who wait for trust to be granted; professionals command it. If you can’t say your have a top 3 product or service in your industry… Then you need to to take a long ass look in the mirror and ask yourself why? Do you align with mediocrity?
The Impact of the Professional's Creed
The "know, love, trust" approach is transformative. It changes the game from a transactional encounter to a relational experience. It's not about making a sale; it's about building a legacy. Professionals become more than just Realtors or loan originators; they become advisors, confidants, and the go-to experts in their field.
Case Studies: The Creed in Action
Consider Jane Doe, a Realtor who embraced the "know, love, trust" creed. She didn't just study the market; she immersed herself in it, becoming an encyclopedia of local real estate knowledge. Her love for her listings was palpable, turning each showing into an experience rather than a walkthrough. And her trust in her portfolio's quality meant she could negotiate not just with skill but with the authority of someone who knows they're offering the best.
Or John Smith, a mortgage broker who lived by the creed. His understanding of the mortgage landscape was unmatched, allowing him to tailor solutions like a master craftsman. His passion for helping people achieve their dreams of homeownership shone through every consultation, turning skeptics into believers. And his confidence in his products meant he could stand behind them unwaveringly, creating a foundation of trust that turned clients into lifelong advocates.
The Future Is Now
As we look to the future, the "know, love, trust" theory isn't just a nice-to-have; it's a must-have. It's the difference between those who lead and those who follow, between those who shape the market and those who are shaped by it. In 2024 and beyond, embracing this creed isn't just about staying relevant; it's about being revolutionary.
Conclusion: A New Standard of Excellence
The "know, love, trust" theory sets a new standard of excellence in the real estate and mortgage industry. It's a call to arms for professionals who are ready to step up, to take ownership of their products, services, and the environment in which they operate. It's a challenge to be more, to do more, and to achieve more. For those willing to answer the call, the rewards are not just in closed deals and commissions earned but in reputations forged, relationships built, and legacies created.
In the end, the "know, love, trust" theory isn't just about building better business; it's about building a better professional self. It's a journey from amateur to pro, from participant to leader, from trusted advisor to beloved expert. And it's a journey that starts with a simple decision: to know more deeply, to love more passionately, and to trust more completely.
~Tommy Bullock
Feeling Lost in the Market Maze? Here's Your Compass!
Ever had that nightmare where you're on stage, and the audience is waiting for you to perform... but you've forgotten all the lines? If you're in the real estate or mortgage biz and feel like you don't quite know your product or market, it's kind of like that, but in broad daylight and with your commission on the line. Fear not, my fellow professionals; here's your lifeline when you're feeling more like a lost tourist than a savvy guide in the complex world of property and loans.
Giphy
1. Hit the Books (and the Web): Knowledge is power, and Google is your new best friend. Dive into the latest market reports, devour every piece of data you can find, and become a sponge for statistics. You don't need to memorize every number, but knowing the trends will make you sound like the Morgan Freeman of real estate narration.
2. The Three T's - Talk, Talk, Talk: Converse with colleagues, schmooze with sellers, and banter with brokers. The more you talk, the more you learn. And who knows? You might just stumble upon some insider info that's hotter than your morning coffee.
3. Shadow the Masters: Find the Yoda of your real estate galaxy and stick to them like glue. Shadowing a more experienced agent or loan officer can provide insights you won't get from a textbook. Plus, you'll see firsthand how to handle the curveballs (and the occasional fastball to the face).
4. Role Play Your Way to Confidence: Practice makes perfect, and role-playing isn't just for gamers. Set up scenarios with a willing participant and rehearse until terms like 'amortization' and 'escrow' roll off your tongue smoother than a jazz solo.
5. Ask Questions Like a Curious Cat: Never assume you know enough. Ask questions, even if they seem silly. Remember, the only bad question is the one that's never asked, and curiosity didn't kill the cat—it made it a real estate mogul.
6. Embrace the Tech-Savvy Times: There's an app for everything, and plenty are designed to keep you updated on market trends and product details. Let technology be your cheat sheet.
7. Attend All the Events: Seminars, webinars, workshops—get on them like white on rice. These events are gold mines for information and networking. Plus, they often have free snacks, and who doesn't love free snacks?
8. The Client Connection: Talk to your clients. Understand their needs, fears, and expectations. Sometimes, they're the best source of information on what the market is really looking for.
9. The Feedback Loop: After every interaction or deal, reflect on what you learned. What went well? What flopped? Self-analysis is a powerful tool for improvement.
10. The 'I Don't Know, but I'll Find Out' Mantra: There's grace in honesty. If you don't know something, admit it. There's nothing more refreshing than a professional who's willing to find the right answer rather than winging it.
Remember, feeling out of your depth is just the first step to swimming in the deep end of success. Use these tips as your floaties, and pretty soon, you'll be doing the backstroke in the pool of knowledge. Dive in, the market's fine!
Have a business or something you want to promote in front of 40,000+ readers?
Click below for more details 👇
Finding “The One”: How to Fall Head Over Heels with Your Mortgage Company or Real Estate Brokerage
So, you're not exactly writing love sonnets about your mortgage company or real estate brokerage. Don't sweat it; not everyone experiences love at first sight with their workplace. But before you swipe left on your current gig, let's talk about how to assess the relationship and potentially rekindle that spark—or find a new flame that sets your professional heart ablaze.
1. Reflect on Your Values: Start with a heart-to-heart... with yourself. What are your core values? Does your company align with them? If you value transparency and your company's as clear as mud, there's your sign. Finding alignment with your values is the first step to workplace infatuation.
2. The Passion Audit: Do a deep dive into what aspects of your job you love, like, or loathe. If the 'loathe' column reads longer than a grocery list before a snowstorm, it's time to reassess. But if there's enough in the 'love' and 'like' columns, there's hope yet.
3. Seek Out the Success Stories: Every company has its champions—those who are thriving and loving it. Chat them up. What's their secret sauce? Understanding their perspectives might just give you a recipe for love you hadn't considered.
4. The Culture Check: Company culture is like the soil for your career's growth. If the soil is rocky, growth is stunted. Assess the culture. Is it nurturing and supportive, or does it feel like you're a cactus in an arctic tundra? You need the right environment to bloom.
5. Play Matchmaker with Your Role: Sometimes, it's not the company; it's the role that's not a perfect match. Explore other positions within the organization that might light your fire. A lateral move could lead to an upward trajectory in job satisfaction.
6. The Communication Connection: Open a dialogue with your superiors. Express your concerns and desires. Sometimes, companies don't know there's a problem until you speak up. And who knows? They might just woo you back into loving arms with a few changes.
7. The Deal-Breakers: Identify your non-negotiables. If the company's crossing lines that you can't stomach, then it's not about falling in love; it's about self-respect. And that's a relationship no amount of counseling can fix.
8. The Grass-Is-Greener Goggles: Take them off. Every company will have its flaws. Make sure you're not idealizing other opportunities without doing your due diligence. The devil you know versus the devil you don't, as they say.
9. The Exit Strategy: If you've done all the above and your heart's still saying "it's not me, it's definitely you" to your company, then it might be time to plan your departure. Update your resume, network like it's going out of style, and find a company that gives you butterflies.
10. The Self-Love Reminder: In the quest to love your workplace, don't forget to love yourself. You deserve a professional setting where you can thrive, grow, and feel appreciated. Never settle for less.
Remember, falling in love with your mortgage company or real estate brokerage isn't about forcing it. It's about finding a place that resonates with your professional soul. Whether that means igniting a dormant passion for your current role or seeking new horizons, trust your instincts. After all, when it comes to career love, you shouldn't settle for anything less than a storybook romance.
When Trust Falters: Navigating Ethical Dilemmas in Real Estate and Mortgage Services
Trust is the bedrock of any successful business, especially in the high-stakes world of real estate and mortgage services. If you're sensing that your company's offerings might not be making the podium for top three in the industry, it's more than just a hiccup; it's a clarion call for introspection and, potentially, action. Here's a compass to navigate these murky waters.
1. Conduct a Reality Check: Begin with research. How do your company's products or services actually stack up against the competition? Use client feedback, industry reports, and your own due diligence to get a clear picture. Ensure your doubts are based on facts, not just a gut feeling.
2. Understand the Why: If your suspicions are confirmed, seek to understand why your company isn't leading the pack. Is it a lack of innovation, poor customer service, or something else? Identifying the root cause is crucial for the next steps. Also, understand that you are part of that “why” so look inward as well.
3. Ethical Inventory: Take a personal ethical inventory. What are your standards for honesty and integrity in your professional life? If you believe the product or service isn't worth it, selling it would compromise your values. It's essential to align your work with your personal ethics.
4. Voice Your Concerns: If possible, bring your concerns to management. A reputable company would want to know if their offerings aren't competitive and why their employees feel that way. This could be an opportunity for improvement that they're waiting for.
5. Be Part of the Solution: If the company is open to it, be proactive in suggesting improvements. Perhaps you can spearhead a new initiative or help create a better service model. Sometimes, being the catalyst for change can be incredibly rewarding and can rebuild your trust in the company.
6. The Ethical Crossroads: If the company isn't receptive to feedback or you see no path to improvement, you're at an ethical crossroads. Continuing to work for a company when you don't believe in its products or services can be draining and demoralizing. It's also a disservice to your clients.
7. Seek Counsel: Talk to mentors, trusted colleagues, or industry professionals outside your company. They can offer perspective and advice, helping you to decide whether to stay and fight for change or to move on.
8. Plan Your Exit: If leaving is the best option, do so with professionalism and integrity. Update your resume, reach out to your network, and start looking for opportunities that better align with your values and professional standards.
9. Reflect on Your Journey: Use this experience as a learning opportunity. Reflect on what you'll look for in your next role to ensure that you're representing a product or service you can trust and be proud of.
10. Move Forward with Integrity: When you find a new opportunity, choose a company that not only offers top-tier products or services but also values transparency and ethical practices. Your belief in your product is palpable and will naturally translate to your clients.
In conclusion, working for a company when you don't trust the value of what you're selling can be ethically challenging. Assessing the situation and taking action that aligns with your values is crucial. Whether that means addressing the issues head-on or finding a new company that meets your standards, it's important to work in an environment where you can trust in the products or services you provide. After all, in the world of real estate and mortgages, your reputation is your most valuable asset.
READ DAILY BY 40,000+ REALTORS, LOAN ORIGINIATORS & INDUSTRY PROS
Reply