Full Transcript for Stop Selling Mortgages. Start Caring for People - The LO Down w/ Ray Severance

industry provides for follow up and prospecting. Ray Severance: Yeah. So my house I've never had a home office, so I never really could work from home. So I've always had to have a place to go. And you know, kind of having a main street office has lent itself for allowing people to come in and really sit across the desk from someone who has anxiety, has questions, has confusion, and really being able to meet them and connect with them to let them know that I'm gonna guide them through this process really resonates with a lot of people. A lot of my clients are first-time homebuyers and when they know that they have someone that is accessible, that is gonna coach them and guide them, it it means a lot. And we've had technology for a long time and I've always found that technology has supported my business, whether it's an application or, you know, now AI or you know CRMs and things like that. But to me, this emotional process of buying a home is is so requiring of reassurance, of experience, and having someone that you can just go to that's going to pick up the phone or you can even pop in an office. To me, that that's really helped shape my business. Now, I've got a lot of clients that I've never met before. We just do an online application, but I I've found a way to collaborate with technology to still bring my empathy, my guidance over the phone and and and through the process. And and really that's been a cornerstone of of how I've built my business. Connor Bartley: Yeah. So in working with like the first time home buyer population, what do you find to be some of the limiting beliefs that they have that you're constantly kind of fighting against to try and sh tell them, no, you can buy a home? Like what what are some of the things that you that come up a lot for you? Ray Severance: Yeah, there's just a lot of misnomers. So they don't understand what their allowances are. They they get confused about down payment options. They get confused about budgets. Financial literacy is really poor in our school systems. A lot of our customers they don't understand the credit system. They don't understand how to put a budget together. And so when I can, you know, kind of sit down with them and guide them through understanding what's their comfort level, what's the importance of owning a home, what does it do for creating wealth. How do we manage your assets best? Is it is does it make sense to put a chunk of money down or does it make more sense to keep that in your account for a rainy day? really just kind of helping them think through each and every one of those different aspects just brings a lot of comfort and it kind of clears up the fog of can I do it? What what are the allowances? What what are the eligibilities out there? really being able to uniquely partner with them and show them how in in their unique situation there's a unique solution. And my job is to kind of get them there. And that really that really helps quite a bit. Connor Bartley: Yeah. How how rewarding is it for you to lend in like your hometown and it being kind of a smaller town where you probably know a lot of your clients, I would assume, or might even encounter them like in the grocery store? Like how rewarding is that for you? Ray Severance: Yeah, it it means a lot. Like I never thought I was gonna be a mortgage guy. I never woke up and said, Hey, I'm this is what I'm gonna do. But I've always I've always cared for people. I've always been a relational person. I've always wanted to try to impact someone's life in a meaningful way. And when I think about like the big three in life, you usually you know get married, you have a baby, and then you and then you buy a house, right? And and I joke, I can't help with the first two, you know. And so but if I can help with that third goal, and so my family jokes with me, I mean, no matter where we go in town, whatever we're doing, I'm gonna bump into someone that just, you know I'm like the mayor. And and I don't say that from a pompous way. It's just over thirty years of being in the business, you you just connect with a lot of people. so it's incredibly rewarding. I I really believe that, you know, the the home is the center of it all, right? It's where you go at night to, you know, put your feet up. It's it's where you're raising your children, it's where it it's your sanctuary, your safe place. and so to have the opportunity to help create that for somebody, it it's it's a privilege. I really am grateful. For it. It's been a really rewarding co career. And it's great to see people that, you know, they'll still thank me years later. You know, we'll have client Connor Bartley: Yeah. Ray Severance: parties and people have come for 10, 12 years and they just thank you so much. And sometimes it's a little awkward. I'm like, okay, that was a decade ago, but it's all good. Yeah, glad I could do that. Yeah, it's all good. Thanks. Connor Bartley: Yeah. Yeah, well I think that's great, man. Cause I mean the statistics are not in favor of the loan officer when it comes to being remembered by the client, right? Like after the transaction, after the the they buy the house and they get the keys, statistically I think it's something like eighty four percent of originators will will never work with that client again. And so, you know, to have that kind of connection. I mean, that takes a very special and unique way of approaching the business that you know, is is uncommon. So I I think it's amazing that you, you know, have those relationships and that people were recognizing you outside of the house. You know, it just kind of speaks to the way you're approaching the business as a whole. Now, shifting gears a little bit here, you know, from an organizational standpoint, You rely a lot on Outlook as like your main system. And even after years out of the you know, in the industry, it might make some people nervous and cringe a little bit for you and be like, my gosh. But what makes that

system work for you? And what habits help you kind of stay disciplined with that follow-up? Ray Severance: Yeah, I you know, it is funny. Outlook is probably not the most refined, efficient tool. but it's worked for me. But it, you know, really it's not it's not so much the software. What what I really think it is is having a a focal plan, having a a tool that helps me with follow-up, something that helps me. focus on my daily tasks, what are those priorities? What are the important things to help grow my business, work on my business and and work with my clients? and then consistency. And and so thankfully I I fell upon Outlook as a as a tool years ago. But what as I've as I've continued to use it and supplement it with other resources, really what it's taught me it is having that plan and that system in place. You know, think I think whatever CRM you use, the the best one is the one that you actually use. And and so I've got lots of colleagues that use Excel or they use a notebook and they just they just use it consistently. And and so what I really think is is key, is is just having that plan and system in place for focus, for follow-up, for task management. and so that's what it's done for me. And I've refined it over the years and I've added other pieces to it, but it works for me. Yeah, it still does. Connor Bartley: Yeah. Well, great. I mean, if you got a system that works and you use it, that's the best system to use, right? They say the the the best database is the one that you will use. And and so if it's working for you, man, there's no shame. and you've said that Ray Severance: Yeah, that's right, that's right. Connor Bartley: that communication and education are really kind of key parts for you with the client experience. How do you Ray Severance: Yeah. Connor Bartley: simplify a very complex situation and all the different, you know, concepts that come along with mortgage in a way that helps clients feel confident without feeling overwhelmed. Ray Severance: Yeah, so I always try to understand who I'm meeting with and and how are they wired, what works best for them. I use a lot of stories and I use a lot of analogies. Basically my my approach is similar to you know a passenger jumping on a plane. They often want to know where their where their seat is. They they want to know when they're getting there. They they clearly want to know their destination. And ideally they'd love to get there with as little turbulence as possible. Now every t every once in a while, you know, I have a client that wants to kind of peek into the cockpit, right? And they'll ask a few questions. What does that knob do? What what does that lever do? And what I really try to help them understand is, you know, I'm happy to explain anything, but there's no way they're gonna become a pilot. We've got years and years, I've got licensure. But here's the thing: our goals are the same. We both want to get to this destination on time, as smoothly as possible, with as little turbulence. So I'll I'll really try to guide them through the process in bite-sized pieces, making sure they understand each piece without overwhelming them and really getting them to trust me. And if they trust me and like me. Then they're gonna delegate all of that stress, all of that anxiety, all of those technical questions to me, the professional. And they can just enjoy the ride. And you know, again, you're buying a house. I I always say it's a fruit salad of emotion. There's anxiety, there's excitement, but as much of the stress that I can take on or our team can take on, I have found really makes the experience for them much better. And ultimately is what results in return, repeat, referral business. Connor Bartley: Yeah. Well, I love that analogy because it's like, you know, how terrible would it be if the passenger on the plane started trying to fly it? And you know, and it's just like, Ray Severance: Yeah yeah. Okay. Yeah, yeah. Connor Bartley: just let me fly the plane, okay? Ray Severance: Right. Connor Bartley: Like I don't think this is gonna work out well if you start. but you know, and at the end of the day it's like sit back, relax, and enjoy the ride. but In the past, and it's been a while since we, you know, prepared for this. So I'm not sure if any of this has actually changed, but when we talked originally, you had lost some support from your team and had the and that pulled you back into some more of the clerical and administrative sides of the business. How has that shift affected your ability to be productive? And what have you learned about where your highest value time really belongs? Ray Severance: Yeah, as I mentioned earlier, I never thought I'd be a mortgage guy and I am not someone that loves to get in the weeds of reading handbooks and deep into the guys. Now I understand the business, I understand how to run AUS. I'm a good loan engineer, I can structure a deal and I can be as creative as the next guy. But I had over years refined a system where, you know, I had someone helping me with my marketing, I had a scheduling coordinator, I had someone that did a lot of the admin work. And so post-COVID, when some of that shifted and I made a decision to change platforms, I had to redesign my business model and my business team. And it did help me to get back in touch with a little bit more empathy. You know, you're you're that much more closer to the client. You're you're actually collecting some of those conditions. You're understanding the tension they feel. But as of late over the last few months, I I have redesigned the team. And so I've got not only my own personal assistant, I've got a loan production assistant, and then I also have my processor. So there's a kind of a a foresome there that attacks the business and each one has their own focal point. And what that does for me is it allows me to stay mindful and focused on the prospecting on the revenue generating activities. You know, I believe solely that

once you've sold a deal, every minute you spend on it, you're losing money. It's already in the door. I'll always jump in at any stage if we need to correct, but let's let the process and the team handle it. And that allows me to focus on relationship building and that prospecting. th those real green generating activities. Connor Bartley: So some folks I talk to kind of struggle with this. how did you, how have you gotten your clients and referral partners on board with the team? what others tell me they struggle with is they they make the hire, they have the team, they feel like the leverage is there, but the clients and the referral partners, they still want to talk to the loan officer. So, how are you sort of navigating that to make sure that the team can kind of take the process and Once the handoff is made and the client and the referral partner kind of keep you out of it and and lean on the team just like you. Ray Severance: Yeah, I I go back to my analogy. you know, if I'm your pilot, you don't want me handing you a soda when you get thirsty, right? You want me to do my highest and best. And you know, similar to like a an operating room. You you want the surgeon doing those critical things. There's a role for the nurse, there's a role for, you know, the the administrative team. I always try to make the first connection with my client. I try to set expectations. I try to make sure I understand the story and the goal. And then I come up with the general plan. But then I let them know. I say, hey, listen, I can't do this on my own. I've got a team. I'm committed to getting you from start to finish. I've got people that help me do that well so that I can stay focused on the most critical phases of this process for you. You've got my cell phone. You can text me, call me. Part of what makes me unique is I'm accessible. And I say that to my partners as well. And so I think when you explain the process and define the dynamics, everyone's good with it. And because they can relate to that concept, right? Any good system, whether it's a kitchen with the sous chef or it's that pilot with the steward or that medical operating room. It takes a team and and everyone's everyone's good with that. In fact they want that. And and so I think if you can help them understand that shift, it it makes a big difference. Connor Bartley: Yeah. Well, I I totally agree with you. I mean, you see the trend out there among producers, and once that process is in place, it's well defined, everyone knows what their job is, and it's not just a collection of support personnel that's kind of everyone's doing the same job all at the same time. when that process is there, it's impressive. Realtors notice it, they want to work with someone that has a process because it makes them look Good because clients love it and they feel like well taken care of and they appreciate the realtor for putting them in place with the loan officer. And so everybody wins at the end of the day. So you know, I think there's a lot to to be said about process and the industry as a whole really could focus on it a lot more and helping originators kind of get to that point. So I love that you've gotten there. now another focus of yours right now is just being more visible, being more. You know, out there with your your brand and doing things like being on a podcast even. you know, what has made that transition challenging for you and what motivates you to kind of pursue it anyway? Ray Severance: Yeah, although I I think that there are some fundamentals that are maybe old school in my business, the the meeting face to face. I've got two clients, two different clients I'm meeting with tonight in my office. We'll sit down. I use my Outlook. You know, there there are some of these old school fundamental tools, but industry changes, society changes, culture changes, trends changes, and so I've realized that just lots of people are spending time consuming online content, whether it's social media or podcasts. And so, how can I get exposure of what I do and how I do it? I don't want to be an influencer, but I really want to be an educator. I want to be accessible and I want to be relatable. And so that if someone finds my content and it helps them along the way, even if ultimately they get nudged into working with someone else, it's all good. You know, it it's just I I want to be someone that kind of is pushing people up and doing it in a way where I'm down to earth and what you see is what you get. but I I feel like that authenticity helps people really. And so that's that's been a big shift in my business probably over last year. Connor Bartley: Yeah. for those of you who don't know, I just learned before the episode that Ray is like a a big time like sand volleyball player. Ray, I think you need to get like some some content of you just smashing, just spike. You Ray Severance: Yeah. Connor Bartley: the clients will roll in, dude. So Ray Severance: That's that yeah. Connor Bartley: now you've talked about kind of balancing career growth and being present with family. I think loan officers go through different seasons professionally. everybody does really, you know, they're different ages of your kids, you know, create different demands of of you as a parent and things of that nature. but I'm just curious, like in your opinion, how do you think loan officers should approach growth differently, kind of depending on the season of their life? Ray Severance: Such a super important question for people to ask themselves. I know over the years I've left a ton of money on the table. But the table I've been at is the dinner table. or at the soccer game or those quiet little afternoons where I'm home in the summer with with my kids. You know, for me, I n I I have financial goals and I want nice things for my family, but I've I've realized as a dad and as a husband, there's a window and I'm never gonna get it back. And I'm sure there will be a day where I would

spend a ton of money trying to, you know, get that one more dinner when all of us are together. in and And I just think through good friendships and good mentors through my life that was imbued in me. so I I think it's important. Now, you know, hey, I don't look poorly upon anyone that is working 60, 70 hours a week to just to get that that next loan and that next loan. I think all that is is relative. so I I think it's really a matter of understanding how you're wired, what's important. but for me, it it's it's really precious for me to still be able to teach gym at my kids school on Friday or serve on the the school board. I protect my family time, nights and weekends with my kids, my family. So I I just really think it's identifying what your goals are and then mapping out a plan to get there and and then really protecting it. And and so I've been I've been fortunate in that regard. And it wasn't always the same. Early on, as a young business owner with a young family, I pr probably was in the office a little too long. And and I started to see the impact. And so by the grace of God, as my daughters were born, I I was able to make some of those shifts and I wouldn't go back. and and I really fight hard not to compare. I I don't look at other people. I I realize what's important for me and and work that plan and work that life balance. Connor Bartley: Love that man. so kind of last question here. for originators who have figured out the basics but still feel stuck between maybe just maintaining stability and pursuing the next level, what principles have helped you continue evolving without having to just reinvent yourself completely? Ray Severance: Yeah, I've I found earlier in my career one of the most frustrating things was just not having a deal to work on and and just feeling like I I want to do something tangible to make it feel like I'm being successful. So I think a critical first step is making sure you you know how to have a successful day. you can't control a closing, you can't control necessarily even an application, but you can control all the things that lead to that. You know, the conversations, the interactions, the one to ones. Staying curious, really being willing to learn and always sharpen your tool, get in front of new people, new ideas, never, you know, never stop learning. And for me, it was a shift of my goal is really to care for people, not to sell mortgages. So the better I can do about caring for people and investing in relationships, the opportunities will come. Whereas early on I felt like I needed to I need to sell another mortgage today. I need to sell another mortgage today. And I would get hurt or disappointed if if I didn't. But when I made the shift to caring, connecting, and building, I found that most people don't you know say no to that. They're very open to that. And and it just created this. relationship building network where I also get the opportunity to help them with their home loan when it when it makes sense. So so play the long game, find out ways to win the day and and focus on caring and building relationships. I I think that goal is really critical. Connor Bartley: Great advice, man. Great advice. Well, listen, Ray, I appreciate you joining the lowdown. we're kind of winding things down here. Before we say goodbye, is there anything else that you'd like to share? Was there anything we you came on today hoping to talk about that we didn't get a chance to to talk about? I wanna give you kind of the the opportunity now to, you know, speak your mind or or share whatever you'd like to share. Ray Severance: Yeah, I just don't don't look for that overnight magic silver bullet. I I think stay consistent, care for people, stay genuine. It's trust is built in those small little moments of just connecting with people. And so I just think that having a plan where you put that as your priority, is pr is probably the most key thing you can do. Cause then you can you can go to bed at night saying, you know, I I really did all that I could do or all that I should do. And and there's lots of little tweaks and habits and and systems and things like that. But I I feel like that's the priority. Connor Bartley: Well, that's great advice, man. Well, thank you for being on the lowdown Ray. I appreciate you joining me. And for those who are listening, before you go, if anything that we spoke about today really struck a chord with you, I want to point you toward two things. First is the low down mortgage community newsletter. It's weekly content that's built for producers who are building something bigger. You can subscribe at www.lowdownmortgage community dot com slash subscribe. And then second, if you are feeling like there's something in your business that needs to change but can't quite put your finger on it, I would recommend you go take the lowdown diagnostic. It's three assessments, five minutes, and it gives you a real dollar figure on Where you're losing money and losing time, the strategic hire that would help you reclaim all of that and where you are in your stage of growth and what to do next to get to the next stage. anyone, those who have taken it really have shared feedback that they un what they uncovered was really helpful and the recommendations were actionable and something that they could really do next. So You can find that at www.lowdownmortgage community dot com slash diagnostic. Both show both links will be in the show notes. And Ray, thanks again for joining us. I appreciate you. Bam! Ray Severance: Yeah, likewise. You've been a gracious host and appreciate Connor Bartley: You bet. Bye.