Full Transcript is Below:
– He is a tremendous Pittsburgh Steelers fan, a self-proclaimed 80s music guru, and a movie buff. He’s also our top producer for the month of March. I’m Greg Sher from NFM TV. We’re going to West Chester, Pennsylvania to welcome in Sean Maloney. He’s a sales manager there who just came off a year in which he closed $71 million in volume. Sean, congratulations on being our top producer. Welcome to NFM TV.
– Thank you so much.
– We’re so glad to have you. I’m just going to say here at the outset, we’re going to put you to the test in terms of your 80s music acumen. But before we get to the fun stuff, we’re going to hang out on the business side for a moment. 2019, you closed 18 million, 2020, you closed 71 million and most people will think, of course he did. It was a year where everybody did a lot of refis but you were able to stay in purchase mode for the majority of the year 65 plus percent in purchase business. How did you do that? How were you able to keep your eye on that ball?
– Well, to be honest with you it was a slower year in 2019, and I focused on building the business and I was out with, you know, getting a lot of different referral partners and focusing on getting purchases. I didn’t realize that we were about to have a huge uptick of refis in 2020. So I was just trying, honestly my goal for 2020 is to do 30 million. And so my goal was to try to get a real estate teams come in and work with me. And that’s all I did, was just pounding the pavement every day. The workload was light enough where my assistant can handle most of the stuff and I was just out there getting business. And then between the refi boom and then all the new business that I got in 2020 that all just took off.
– Tell us about that grind. When you say you hit the streets, what are some of the things that you did?
– Well, I just reached out to people. I did some cold calling. I reached out to my referral partners. I said, who’s worth talking to in your office? I met with financial planners, I met with accountants, insurance agents, divorce attorneys local businesses that I frequented. I asked if I could leave my cards there. Like, hey, if you hear anybody talking about a purchase or refi, let me know. I reached out to my sphere of influence. I just was trying to find any type of a referral partner that I could and form a relationship.
– So when you did pound the streets, did you run into any resistance? And if so, how did you you get over that?
– There was some hesitation at first but really it’s about establishing trust and rapport. It’s about following up. You know, I used some previous clientele and some referral partners and they gave testimonials They give you a shot and then they see that you can either deliver or you can’t. And if you can deliver, my team definitely does do that on a consistent basis. Then you have a referral partner for life.
– So when you’re approaching an agent and you’re saying, hey give me business, what are you telling them you’ll do for them?
– I ask them questions about themselves. What does your business look like? What are your struggles with your business? Where do you want to be? What are your goals? You know, what does your ideal loan officer look like? What do your current loan officers do for you? And I try to come up with ways that I can help them grow their business. I want it to be supplemental, symbiotic. You know, I don’t want it to all be one sided.
– And how often are you coming in cold? And how often is there a degree of connection? Second degree, third degree, fourth degree, somebody you know, who knows them?
– So in the beginning it was almost all cold and now it’s like, hey, I work with these people, they’re in your office. Or hey, you comment back and forth on social media with this guy. Just so you know, his team gives me all of their leads. It would be fantastic if you and I can have a conversation and it’s a lot easier now than it was. I can tell you that.
– Of course. And the reason I’m drilling into this is because a lot of people want to be where you are today. You closed 246 units in 2020 after closing less than a hundred the year before. So that’s a really big jump. I want to just ask you one more question about that. When you get an agent on the phone in the beginning during those resistant periods, and they say I’m not interested now, but I’m interested later, what kind of system did you have to follow up?
– It was a lot of engagement on social media. I see their posts, I see what it is that they like. I see what they’re all about. I like, I comment. I’ll send messages here and there, I’ll drop a text. I try to see what their interests are, I’ll send a text here and there. And it’s really just about them getting to know me as a person and seeing that, you know I’m not going anywhere and I’m going to be around and I am an option for you whenever you are ready to explore. And then you just wait for the opportunity. And as soon as it comes, you got to seize it.
– You mentioned social media. I want to dive deeper into that because that’s an area where there’s just so much unchartered territory. It’s very fertile ground. What are some of the activities that you do on social media to strengthen your game?
– Well, you know, it’s about posting so people could get to know who I am as an individual. I want them to see that I’m serious about my job. That I’m somebody that they can come to kind of like a mortgage encyclopedia, hey, what’s going on in the market today? What’s going on with the rates? What are projections going to be? What are the new guidelines for COVID? So I want people to know that, I am an afficionado when it comes to information, everything when it comes to mortgages. But I also want them to know, like they’ll see a picture of me hanging out with my dogs. I want them to see me out and about in the community doing charity work. I want them to see me as an entirely well-rounded individual. Somebody that they can relate to, not just the guy who talks about mortgages all the time.
– All right, I think we’re ready. We’re ready for the big challenge. So, you know, we said at the outset here that you are an 80s music guru. And I’m going to give you a test here. And the prize is going to be both of these new hats. These are new NFM swag hats for both of these. I’m going to ship them both your way if you can impress me with your 80s acumen, okay?
– Are you ready?
– I’m ready.
– All right Sean, here’s 80s test number one.
– I know the song. I don’t know what’s on my head, who that is.
– And you’re an 80s buff. Okay, all right.
– Give me a little bit of a clue.
– You know what, we’ll give you a mulligan. Okay, you get that one. All right, song number two, coming up right now. If you don’t know this one, I’m going to have to dispel the notion that you are an expert at 80s music. Are you ready?
– “Dancing in the Night.”
– “Dancing In The Night.”
– You want to try again? ♪ Dancing in the Dark ♪
– “Dancing In The Dark”
– Okay, you know what, you get credit there. “Dancing In The Dark” You’re one for two. Okay, 80s song number three is all queued up Sean. Here we go.
– “Take On Me” by A-Ha.
– Well done! We’ve reached the bonus round. You’re two for three. This is the one that will determine whether or not you get the new NFM swag. All right, here we go. I’ll give you 10 seconds on this one. Here we go. ♪ Let’s dance in style ♪ ♪ Let’s dance for a while ♪ ♪ Heaven can wait ♪
– “Forever Young”
– Alphaville “Forever young.” That was great. I’m impressed my friend. You’re gonna get these hats. You’re gonna get the NFM swag. Good job! You really are an 80s guru. I really appreciate your time. Congratulations on your success. 71 million in 2020. I think what I’m going to do now is ask you what you plan to accomplish in 2021 so I can play this back in a year.
– Well, I’m going for over 100 million this year and I’m already on pace for it.
– Congratulations on your success. Sean Maloney, it was so great having you on as our March top producer here on NFM TV.
– Thank you so much.
– That was a lot of fun. That’s Sean Maloney from West Chester, Pennsylvania. I’m Greg Sher. We’ll see you again next time.