Agent vs Lender

Toe 2 Toe With Jennifer Murtland- Part 2

October 15, 2020 Ron Pippin
Agent vs Lender
Toe 2 Toe With Jennifer Murtland- Part 2
Chapters
Agent vs Lender
Toe 2 Toe With Jennifer Murtland- Part 2
Oct 15, 2020
Ron Pippin

We are back with Jennifer Murtland from the podcast Toe 2 Toe. In part 2 of this 2 part series Jennifer and Ron discuss efficiency, referrals, and growing your team.  As agents it's important to know your numbers, be efficient with your time, and know when to grow your team. Jennifer and Ron's extensive knowledge in this area is just what you need as an agent. 

You can listen to all episodes of Agent Vs Lender on Spotify, Apple Podcasts, Stitcher, and Google Play. If you love Agent Vs Lender follow us on YouTube, Facebook, and Instagram for all bonus content. 

Show Notes Transcript

We are back with Jennifer Murtland from the podcast Toe 2 Toe. In part 2 of this 2 part series Jennifer and Ron discuss efficiency, referrals, and growing your team.  As agents it's important to know your numbers, be efficient with your time, and know when to grow your team. Jennifer and Ron's extensive knowledge in this area is just what you need as an agent. 

You can listen to all episodes of Agent Vs Lender on Spotify, Apple Podcasts, Stitcher, and Google Play. If you love Agent Vs Lender follow us on YouTube, Facebook, and Instagram for all bonus content. 

Jennifer Murtland:

All right, I am back with Ron Pippin, the host of Agent Versus Lender podcast. Hey, Ron, how are you?

Ron Pippin:

Good. I'm doing well. How about you, Jennifer?

Jennifer Murtland:

Good. He is also the branch manager of the Pippin team at Cardinal financial and he lands in all 50 states. That's pretty unusual to be able to land in all 50 states, I think, isn't it?

Ron Pippin:

Yeah, I think it is. But that's, no, long details. But yeah, but yeah, it is, I have the ability to do that.

Jennifer Murtland:

Nice. So Ron, last time, we were talking about how to drive consistent business. And now today, I wanted to talk about how did now that we've driven consistent business, it kind of feels like, you know, we're overwhelmed. Like, there's so many times, there's so many hours in the day, we're filling all our customers fill all those hours, we never have any time. But we want to do more. So like, now what I mean, I know there's a lot of things to do, but like, what are like your top tips for that?

Ron Pippin:

You know, there's several things. One of them is is that...I don't know where to start? Because they're not easy to do. I think, yeah, I start my day, I start my day. And first, I look at my calendar so that I know what things I have calendar done. Yeah, every day, I have certain activities that I do. And they vary on different days. So like, on Tuesday, I'm calling all of my, all of my agents and all of, my buyers, the borrowers that are in process, so that they get a status. So they get a personal call from me every week, and they know that they're going to get that. And so I set aside time to do that.

Jennifer Murtland:

Because when you're calling your agents, are you using that as lead generation time and your borrowers like asking for referrals and things like that.

Ron Pippin:

So in in all reality, that my that time to give a status update is actually a time for me to ask for referrals. Yeah, my number one goal, the goal to them is, oh, I'm getting a status update. But at the end of that call, I'm also asking for referrals, right? My goal, but there's not too many people that are going to go, Hey, I don't want to get I don't want you to call me every week to get a status update. Now, they're always happy to talk to me. And and if we're doing a great job, I'll get referrals. I don't get them all the time.

Jennifer Murtland:

But how does it sound? Like what do you say?

Ron Pippin:

Absolutely. At the.. what do I say? What'd you say, Oh, just like Hey, who? So? Who do you know? That is, you know, it can be it can be Who do you know that is buying or selling right now? Who do you know in your church group? Who do you know, we belong to a little league group or, you know, who do you know, in this group that is buying or selling right now? Right? Like, who do you know? Yeah, who do you know that?

Jennifer Murtland:

Yeah. And I think like, if people are feel a little bit uncomfortable with asking for referrals, and we actually did a podcast on this, like, when is the best time to ask for a referral? And honestly, it's like, every time like you do everything? Yeah. But like, if you feel uncomfortable, you could literally say like, who do you know that we can help we've so enjoyed working with you. Or if you have like a buyer, if you have a listing, let's say in whatever neighborhood be like, hey, just wanted to let you know, we have this new listing and XYZ neighborhood who do you know, that's looking to move into this neighborhood? Or we have a buyer that's looking to be in this neighborhood? Do you know what I mean? Like you can do like, either make a general kind of and then the general is Who do you know, that we can help? Then the second one is kind of like exactly what you said. It's like a general and specific mix of Like, who do you know, on our little league team that's been talking about buying a house like that I can help. And then there's even the more specific one of Like, who do you know that for this like specific property or this specific buyer or something like that?

Ron Pippin:

Yeah. So we we actually set with with buyers, we set that expectation right up front, because if you wait to ask for referrals, until the transaction is over selling is over and miss the opportunity for and I'm going to give you an example. So when you go to buy a new car, and you're looking at I don't know, there's a blazer that just drove by I'm looking at big window. So you go and you're gonna go drive. You're gonna go look for a new blazer. Yeah, notice Oh, look, there's one on the road. Oh, look, there's one on there. So also you notice this car. When you're buying a house, it's just like, oh, you're buying a house. Oh, I am too. Oh, You're, oh, I am to have a, you're thinking about it. You're also you notice those things. Wait till somebody bought the car. It's over. Hey, it The game is over. Yeah, we set that expectation up front. It's just like, hey, so if my team is going to do a good job, can we count on you to send us somebody that you know that that maybe you notice is going to that you notice is maybe going to be buying or refinancing, we say, right? Because you're young at that time, you're refinancing. And and we ask them, can you Can I count on you? And they'll say, Oh, yeah, if you're doing a great job, why would I not? And so we hold them to that. Right, exactly. Knowing that during that process, we're saying, so who do you know,

Jennifer Murtland:

right? And it's like you're fulfilling like you said, I mean, we kind of went off on a tangent. I mean, the topic is a bubble. That's no, it's I mean, it is still like, increasing your efficiencies. Right. So like, the question is, how do I manage to leverage my time, and one great way to do that is when you are making your update calls, because we make up a call to our clients? If you want to leverage your time more, that's a great time to also lead generate. Yes, yeah. So like,

Ron Pippin:

yes. So but you were saying that to leverage your time is, you have to set aside a time and sacred time? Yeah. So you are when you are been doing the updates, or you have your lead generation calls, you know, your calling your your past clients and sphere of influence, that has to be your sacred time. It's like, your phone, you tell your team, if you have a team that says Like, I'm making phone calls, you're not going to get hold of me. So being that can, unless there's something that's like, Hey, we have a file, it's blowing up. And if we don't solve this, like, right now, in the next 10 minutes, we're screwed. It's, you know, it's just like, Can you not? Can you not wait an hour? Is there something that's so important that it can't wait an hour?

Jennifer Murtland:

Most of the time, there's not?

Ron Pippin:

Yeah, rarely is that that can't wait an hour, or whatever that time is,

Jennifer Murtland:

right? Well, and you bring up,

Ron Pippin:

you're gonna, you're gonna be bombarded with so many different interruptions that if you don't set it aside, it's not gonna,

Jennifer Murtland:

it's not gonna happen, right? And I think I would even take it like a step further, like, Yes, I agree, setting the time aside, and kind of, you know, putting your bumpers in there that it's like, nobody, like bothers me during these times. But I would even say, when you're figuring out when to do things, like start with your most important priority, which for both of us is actually lead generation. So however you lead generate, like, do that first. And if you're, if you're making calls, then doing it in like 15 minute intervals. So you have a 10 minute break. And I forget what principles for parado. Do you know what that's called? Purina?

Ron Pippin:

Well, the cradle. Yeah. That? Was that what you're talking about?

Jennifer Murtland:

Yeah, I think so. Okay, that sounds right. I can't, it sounds something like that. So it's like your brain will actually what I find is like, so I always end up of course, having to go to the bathroom, or I'm thirsty at like, 45 minutes? Well, if I didn't know that, I would, if I didn't have it in my mind that my minimum standard was to go from like, you know, eight to 850. At 845. I would just like, wander off. But now it's like, Okay, I have five more minutes. Like it can wait, I can wait five more minutes. And let me get in a few more calls. And, of course, those are the ones that set appointments. You know? It could be like, yeah, so I think like doing that doing your most important thing first, too, when you are calendaring. And there's rarely any time. There's really no time that things can't wait. They can wait for an hour or 15 minutes even.

Ron Pippin:

Yeah, there's no problem that can't that can't wait an hour, you know, usually, usually. So they just know. So that's so just some people called time blocking some people, you whatever. But I think it's a really important concept to just Yeah,

Jennifer Murtland:

I agree. I think the other thing is, is that a lot of people, at least for agents, and I'm sure this happens with loan officers to it's like, we think that our customers and our people only want to work with us. So we try to do everything. But like, That's impossible. You cannot grow and leverage your time or your business. If you're doing every single aspect. What's been your experience with that Ron?

Ron Pippin:

Yeah, totally. You I, I think of a restaurant when you go into a restaurant, you have a host that sit that's there and they help you get to see and then you go sit down. And you have some that comes over and brings your water and then your waitress comes over and teach you order, they bring it back to the cook who cooks it? And then sometimes it's somebody comes and brings you your food. And then there's somebody that comes in cleans up after that everybody has a different, different. Why is that? You know, because because you can't do everything. If you wanted to do if they had one person at all, you'd have an hour long wait for and two people in the restaurant. You just can't help that many people when you do it yourself now. Yeah,

Jennifer Murtland:

Well, and I think we had talked before too. And some of the other things that we did was, it's like, You're not even good at all of it.

Ron Pippin:

Right. So, I have a team behind me. And and are they,

Jennifer Murtland:

I don't see them.

Ron Pippin:

Yeah, you you don't actually my whole team works remote. And so we have an office, but I'm like the only one that ever comes in. So there's, there's more offices behind the door. And, you know, so there's anyway, but nobody comes in because we all work remote. And we started doing that probably two or three years ago before COVID. And so when it was like not easy, right? Yeah, it was really easy. But, we have like a processor, and I have a couple of loan officer assistance. And I have a loan, a loan pipeline manager, and I have somebody that helps with order outs, like ordering appraisals, and ordering, ordering, all that kind of stuff. And I have people that do different things. Because Can I do all that? I can can? Yeah. But I'm going to be limited to doing to helping a couple, two or three loans a month, maybe.

Jennifer Murtland:

And they won't be happy, you won't like it.

Ron Pippin:

I hate. I am so grateful for my processor. And for my loan officer assistance. I am so grateful for them. Because they're doing stuff that I hate. They love it. They're doing it the and they you know, what? Have you heard of the disc profile? But we all are people. And we know what personality type they are? Because we don't want everybody like me. And now they don't because we don't want? Because I'm like going out? Well, we talked about this earlier. It's like I'm a squirrel like, right? And

Jennifer Murtland:

what is your desk? And Id?

Ron Pippin:

Yeah, I am. That's exactly what I am. So I like going out and talking to people I'm been I keep the business going forward. But I am not a detail oriented person, right? Want me processing your own? We are not going to have a 30 day timeframe.

Jennifer Murtland:

You're getting audited too.

Ron Pippin:

Oh, totally getting audited. Because I am not going to be detail oriented. So I'm grateful for those people that are the way they are. Yeah, they are good at what they do. And so when you surround yourself with people that are really good at what they do, and their and their sphere of what their man, okay, you can grow. And so I know that that's a little bit different for and so for agents, you're gonna have transaction coordinators. Yeah, yeah, you're gonna have different people on the team.

Jennifer Murtland:

I mean, the transaction coordinator is like the most important person because that's like, our file, you don't have to take on additional liability of like an employee or anything like that. They're what they charge for their work and the amount of time that it would take us like you as the agent to do it. It's just it's a no brainer, like every single person after they, they need to hear from me for like a year to hire one. And when they finally do, they're like, this is the best. It's like no shit. No kidding, man. You know, like, why wouldn't you do that? What I did was I wrote down, I wrote down all the things that I didn't like to do. And then I was like, Okay, I'm gonna hire all those things out.

Ron Pippin:

I did the same thing. I went through and I went through our entire process. Yeah. And I picked out the things that there's three things, things that I like to do the things I'm good at, and things that generate money.

Jennifer Murtland:

Okay, that's a great,

Ron Pippin:

they're all the same. Yeah. So wherever those things intersect, that's what I do. Do it. I'm good at generating money. So I'm going waterskiing later today. It's not going to generate me any money for me.

Jennifer Murtland:

If I you can ask for referrals.

Ron Pippin:

Yeah. I am. I am going out with a realtor. So you don't know. Yeah. So yeah, no, no, I see, no, I see it, now's the squirrel kicks in.

Jennifer Murtland:

So if they're in those three circles, you do it and that everything else gets hired out, I assume?

Ron Pippin:

Yeah. Yeah. So that's exactly what happens is, is I have a team that takes on all that other stuff. Yeah. And it just works so well. At volunteer

Jennifer Murtland:

point, like they're better at it. Like even though you can do it, you're probably slow at it. You're probably I that's what I found. It's like I probably, I mean, honestly, I've never No wait, I inputted a listing one time. And it probably took me all day. I was like, This is terrible. I'm not doing it. I can't do this, like, so it's like, I'm not even good at it. And I hate it and like, I got it all wrong. And then we got in trouble. Of course, you know, like, it's so dramatic.

Ron Pippin:

So think about one thing that you have to think about is, if you What is your hourly income?

Jennifer Murtland:

Correct. And you wouldn't know that if you unless you tracked,

Ron Pippin:

you got to track it. So you know, so if you're making, I don't know, you're making searches, like

Jennifer Murtland:

at least

Ron Pippin:

200,000 whatever. Yeah. You just figure out what that hourly income,

Jennifer Murtland:

and it's usually like three or four or $500 per hour? And that's if you're at 100. Like and that's a low?

Ron Pippin:

Yeah, usually. So even if it's $100 an hour, would you pay somebody $100 an hour to input a listing? I mean, that's no to that.

Jennifer Murtland:

That's not what it costs, right?

Ron Pippin:

No, that you better say no to that. So why are you inputting that listing? Right? So if you would not pay somebody that kind of money to do that. Stop it. Do it. You, exactly, that's it. Stop it and pass it off to somebody else. Yeah. Oh, do what you're good at. that generates income and that you like to do and you which is usually for people like us, it's usually lead generation now showing homes and out whatever it is that you're doing that you're good at, go do that.

Jennifer Murtland:

It's like sales activities, and it's actually not administrative activities. Yeah, no, that's awesome. Well, I really appreciate you coming on and chatting about it. It is interesting to see like how we know lenders and realtors it's kind of like we're the same but we're different. You know, but there's there's a lot of similarities.

Ron Pippin:

So they really are we cross over so much more than people think.

Jennifer Murtland:

But it's a battle now.

Ron Pippin:

No, it's really funny. Your event yours is toe to toe and mines lender versus agent. But it's you think it's like a battle, but we're really collaborating. It's really what is it? That's true.

Jennifer Murtland:

That's awesome. Well, thanks a lot, Ron. I will talk soon.

Ron Pippin:

Okay, bye bye.