If you’re in the mortgage industry, it’s no secret that it’s a challenging time. But according to Brian Sacks, a veteran in the business since 1985, it’s not about masking the challenges, it’s about embracing them. “The strong will survive and the herd will get thinner. And that’s okay. It’s a great business. It’s a career,” he says.
Mortgage Industry Veteran Brian Sacks: Lessons and Wisdom
What’s Brian’s secret? Well, for starters, he barely graduated high school and didn’t go to college. Surprised by that background and his current success? Don’t be. Undeterred, he worked hard and became an expert in his niche. His top advice to anyone in the industry, new or seasoned, is to work, work, and work. “There are always deals to be had,” he says.
Becoming an Expert: Education, Niche Selection, and Building Authority
But it’s not just about working hard. It’s about working smart. “Educate yourself, pick a niche, become the expert in that niche, let everyone know about your expertise. And if everybody’s zigging, you zag,” he advises.
So why should anyone listen to Brian? It’s simple, really. Aside from being unapologetically himself, he’s been in the industry for over 30 years and has seen it all. He knows what works and what doesn’t. And what doesn’t work is chasing business. “The more you chase someone, the further you push that person away, whether it’s in your relationship, whether it’s in your business. It doesn’t matter,” he says.
Building Strong Partnerships: Adding Value for Realtors and Borrowers
So what’s an LO to do instead? Figure out how you can add value. Don’t show up uninvited to open houses. Don’t try to call 50 realtors every Monday or try to take your referral prospects to coffee. Instead, think outside the box and figure out how you can add value. “You go from being an extremely annoying pest to being a welcomed guest,” Brian says.
It’s all about being a true partner to your clients, whether they’re realtors or borrowers. “At the end of the day, what does a realtor want? A realtor wants to sell more homes. That’s all a realtor wants to do. The fact that you’re available 24 hours a day, seven days a week, and have good pricing and products doesn’t set you apart. Well, of course you do. That’s expected. That’s the bare minimum. Right?” he said.
Standing Out from Competitors: Brian’s Advice for Unconventional Success
Instead, he suggests going above and beyond to help agents build their business. “What if you put them all in a room at their board of realtors and taught them a class. Now your cost is zero. You’re imparting knowledge and CE credits, and they will give you their card and ask for coffee on the way out,” he said.
And don’t forget to stay in your lane. “Don’t worry if the world is collapsing. You worry about getting your 10 loans a month,” Brian advises. There’s plenty of opportunity out there, but you need to be attracting business, not begging for it.
Unlocking Opportunities: Exploring the Potential of the Mortgage Industry
At the end of the day, there’s plenty of opportunity in the mortgage industry – as long as you’re willing to work for it. “There’s lots and lots of opportunity, and you just can’t be like everyone else. And you must be attracting and not begging,” he said.
So if you want to succeed in the mortgage industry, take a page from Brian’s book. Work hard, work smart, and stay in your lane. And most importantly, don’t forget to add value
With Brian’s advice in mind, anyone – new or seasoned – can find success in the mortgage industry. It’s all about working hard, finding your niche, and staying focused. And, of course, being unapologetically yourself.
We’re so thankful to Brian for taking the time to speak with us and share some of his valuable insight with our readers! If you want to hear more from Brian, sign up for his emails, or learn more about him, check out the link below.
Learn more about Brian and the educational resources he offers here.