By Doren Aldana
As you know, last month was “Back to School” month. As students began filing back into classrooms all over the world I couldn’t help but be reminded of how important it is to be a lifelong learner and continue to grow – not just in general knowledge, but more importantly, in character, wisdom and skill. We live in the “Information Age” where information is more ubiquitous than ever. We’re perpetually inundated with information through our TV sets, computers, radios, newspapers, iPads, iPods, iPhones, Crackberries, you name it. We’ve got info up the wazoo! One would think that since “information is power” – like they teach us in school – this rising tide of information must be lifting the human race into higher and higher levels of health, wealth and happiness. While I’d love to believe that, I still find myself confronted with the startling statistics showing a steady global increase (per capita) in cancer, AIDS, obesity, diabetes, ADHD, bankruptcy, suicide, divorce, Prozac prescriptions, etc. How do you account for all that? Is more information really the answer? As Anthony Robbins once said, “We’re drowning in information but we’re starving for wisdom.” I couldn’t agree more.
Seems to me, all indications are pointing to the fact that if we want to rise above the mire of mediocrity we’re going to need more than just information, we need transformation – an inner metamorphosis of our deep-seated values, beliefs and habits. Anything less is like putting lipstick on a pig – you can smear it on all you want but at the end of the day it’s still a pig. Case in point: studies show that approximately 80% of all lottery winners file bankruptcy within five years. You can give someone a million dollars but if they don’t have a million dollar mindset, their bound to blow it. You may be thinking, “That would never happen to me. You would have to be really dumb to lose all that money.” Yet the very reason that these individuals let their money run through their fingers is the very reason that most mortgage professionals are still struggling to eke out a meager existence – their mindset is programmed for failure not success.
With rare exception, your income will grow in direct proportion to how much you grow as a person. In other words, as your value to the marketplace increases, so does your income. Here’s how my mentor, the late Jim Rohn put it, “You don’t get paid for the hour. You get paid for the value you bring to the hour…if you work hard on the job, you’ll make a living. If you work hard on yourself, you can make a fortune!” It never ceases to amaze me how two mortgage professionals, with the same level of experience and access to the exact same tools, systems, and training can have such dramatic differences in results. One will earn a meager $40,000 per year and the other $140,000. What’s causing the disparity? If I had to boil things down to one single thing it would be ATTITUDE, or their respective levels of personal development.
You see, in life there will always be challenges. The winds of adversity blow on us all, no one’s exempt. Jim Rohn said, “It is the set of the sails [your attitude], not the direction of the wind that determines which way we will go… if you learn to set a good sail, the wind that blows will always take you to the dreams you want, the income you want, and the treasures of mind, purse, and soul you want.” Therefore, it’s not the obstacles without that determine our level of success or failure but rather, the obstacles within – our own fears, doubts, worries, etc. Neglecting this important truth is like the logger who had to work harder and harder each year to hit same level of production because he never takes the time to sharpen his axe. Perhaps this is what James Allen was thinking of when he wrote: “Men are anxious to improve their circumstances, but are unwilling to improve themselves; they therefore remain bound.”
So, what’s the best, easiest way to keep our axe sharp? Simple. Implement a daily self-improvement program. Charles Tremendous Jones said, “You will be the same person in five years as you are today except for the people you meet and the books you read.” I would also add the seminars you go to, the CDs you listen to and the DVDs you watch.
Here’s the BIG idea: input equals output. If you fill your mind with a daily dose of good, inspiring information, you can’t help but increase your value to the marketplace, and thereby increase your income. Likewise, if you taint your mind with all the doom and gloom from the six o’clock news, chances are you’ll be “informed” but not necessarily “empowered”. It’s not just the quantity but the quality of the information that really counts.
Starting today, make a daily commitment to fill your mind with something positive that improves your value to the marketplace. Then take daily action towards your goals. Over time, those simple daily disciplines will compound and ultimately culminate into the extraordinary life, income and YOU you’ve always dreamed of!
So, what do you think of this post? Please share your thoughts/comments below. I love feedback!
Jmata says
so true
EPN says
there’s a lot more to it than simply positive thinking. You seem to defend the need for people like you (“self-help” gurus). Yes, attitude is important, but there’s far more important things that separate the average from the top. And by the way … I’m at the top of my game, so I do know the difference.
dorenaldana says
I couldn’t agree more Eric. You need a lot more than a positive attitude to succeed but if you don’t have it, the chances are you won’t succeed at much. That’s why I can give my clients all the best marketing tools available, but if they’ve got stinking thinking, they generally don’t do jack with it. The key is to have both the mindset and the skillset… with a healthy balance of those two you become virtually unstoppable. Thanks for your feedback!
Slinman says
just curious – what do you believe you are doing different that has put you at the top of your game?
EPN says
Simple … absolutely relentless follow-up, consistent marketing, and delivering what I promise in a timely fashion. You do those things in this market, and you will be a top closer earning a large income. I am at 99% referrals because I’m responsive and work my tail off. I’m closing 20 loans per month average for the year and growing. Personal growth is good in the long run, but I haven’t had time to be self-indulgent for a couple years now, and doing just fine.
graceful1 says
Gee you don’t think you have done personal growth over the past few years or so? Short Sighted are you?
Doren Aldana says
Hey Eric. One element of your mindset is the importance of taking massive action. A bias towards action is perhaps the single most important quality for achieving enduring success. However, if you wanted to take your business from 20 deals per month to 40, you’d need more than just massive action, you’d need the mindset, skillset, philosophy, and strategy of someone who is closing 40 deals per month. To earn more we must BECOME more. That’s where learning from others becomes so crucial.
Sam says
1 out of 40 commercial real estate loan inquires ever close!! That used to be the ratio. In todays market who knows, 1 out of 100? WHY! Because originators (including real estae brokers) do not have the nerve to ask the hard questions nor even to find out what they are. I call this the WHIMP THEORY! Originators do not qualify applicants before wasting time, money and effort on the data presented. More than ever the “story” behind the inquiry is more important than the data which no one wants to spend the time to decipher and put into a simple short narrative indicating the “end in mind”. It is the applicants job to know what he wants, not the originator. TODAY A REAL ESTATE INVESTOR THAT INTENDS TO FINANCE HIS DEAL SHOULD FOLLOW WHAT FUNDS ARE AVAILABLE AT WHAT TERMS AND THEN FIND THE REAL ESTATE DEAL THAT MEETS THAT CRITEIA. Applicants don’t like that approach as they like to be in control-THEY ARE NOT! THE FINANCIAL MARKETS ARE IN CONTROL. The old days were false and skewed, hopefully never to return. We are reaping what we planted.
Tnasta says
with all the government sanctions,and how much your allowed to earn on Mortgage,plus Origiantors needing 20 hours of school to take a test,why don’t they demand Realestate orignators to take a yearly test or even Senators thats laughable,they want to hold down your income and eventually due away with Originators or Brokers,my income is over 100,000 and im thinking of getting out while the getting is good being an originator today is crazy most of them won’t make any money they won’t let you and Amen to that
Slinman says
I believe that sales peole need to have positive attitudes , more than ever and especially in today’s market place however, one needs to have knowledge as well. Loan products change daily – and if you don’t stay on top of changing guidelines you will NOT be successful nor at the top of your game!
Tony says
This was amazing, exactly what I needed for my Monday morning! Keep these coming!
P.s. I noticed this one was a little less harsh, how come? Normally I could see you rip into people and either motivate or infuriate them enough to prove you wrong and go out and make themselves better.
Doren Aldana says
Let’s just say I was feeling a bit warm and fuzzy after a weekend of Turkey and cranberry sauce. (It was Canada’s Thanksgiving). Don’t worry, I’ll get grumpy and tear a few strips off someone in my next Blog post. 🙂
graceful1 says
Your are right — very few succeed – – There is a multitude of reasons for that – For some they think that it is like a regular job and others think that seasoned mortgage agents will help them and then there are others who have debt and no extra funds to do the marketing or advertising. Of course let’s not forget the ones who didn’t know how much work would be involved. Of course let’s add family to the mix who add pressure for immediate results.
Sounds like fun, not sure why anyone would want to do that – it’s a numbers game and the numbers are astronomically ridiculously high in “not getting the right client to close with you.”
This business is cut throat and definitely not for the faint of heart.
Good marketing is only part of the solution, attitude is definitely another part, but so is knowing your target market and all the how to there.
While, I am very happy for those of you who are “At the top of their game”; my question to you is this – Just how many fledgling mortgage agents have you mentored without a monetary charge. Looking instead to the long term goal and gain instead of “immediate” short term goals and gains.
Doren Aldana says
Thanks for your feedback Graceful1. To answer your question, I don’t provide any 1-on-1 consulting for free but I provide lots of free content on this Blog and on regular free webinars and teleseminars. What area do you feel you need the most help with right now?
Tnasta says
They are blaming indirectly the Brokers and the Originators for the failed Banks.I ask you who are the ones that came out with the programs approving people with a 525 credit score,thats right the Banks and their sub prime units its not our fault we write the application they can accept it or not,they are the ones funding the mortgage not us,programs 100% LTV over appraisal of 125% this is not our doing it was the Banks that we bailed out of there own mess.Why don’t the feds require the people on Wall street to go to school and take tests to get licensed every year and the Bankers as well were just the fall guys for the the big CEOs that made bad calls and when we did bail them out they all recieved large bonuses from that money wake up people
Pbelle says
Hi Doren Very good info, and very true.
PB