How to build your own Million dollar referral system that not only supports you and your needs, but those connecting with you. This is especially critical when it comes to acquiring or selling real estate, as trust is the name of the game! Terri helps you to identify those key trusted resources from your mortgage provider, legal support,  inspectors  contractors…all the contacts you need for real estate or any business.

Let’s stay connected! Subscribe for Real Estate Mortgage Shoppe podcasts and show notes www.JoGarner.com

Host: #JoGarner #MortgageExpert (901) 482-0354

Co-Host: #TerriMurphy #TerriMurphyCommunications terri@terrimurphy.com

#realestate #mortgage #milliondollarnetwork #referralsystem #realestateteam

LET’S GET STARTED…(Jo) (Good morning, Memphis! Welcome to our internet listeners and podcast

listeners across the 50 states! . Today is April 20th, 2024. Call us in the studio while we are live

at 901 535-9732.You’re on Real Estate Mortgage Shoppe. I’m your host, Jo Garner, Mortgage Loan

Originator. You can connect with me at www.JoGarner.com. Our topic today is MILLION DOLLAR REFERRAL SYSTEM FOR REAL ESTATE PROS & YOUR BUSINESS TOO.

Thank you to real estate attorneys, Rob Draughon and Shelley Rothman of Griffin, Clift, Everton and Maschmeyer Law Firm for sponsoring this episode of Real Estate Mortgage Shoppe. For your home purchase or refinance closing, contact Rob Draughon and Shelley Rothman at (901) 752-1133.

Back with us at Real Estate Mortgage Shoppe, we have Terri Murphy of Terri Murphy Communications. Terri is the Executive Master Coach and Communication specialist. You are an accomplished real estate entrepreneur, author, national speaker, founder of SmartWomen/SmarterChoices and more. Today Terri is going to be sharing (Terri takes a moment to intro herself and what she does with Building a Million Dollar Referral Network)

(Jo) Lots of our listeners have heard the news about big changes coming from the National Association of Realtors legal settlement and how realtors who represent buyers will be paid starting in July 2024. There will still be buyer’s agents, but the amount of commission allotted to pay them will not be listed on the Multiple Listing Service. Buyer’s agents will need to take some extra steps to know how they will be paid.

Some lending programs like conventional loans from Fannie Mae and Freddie Mac and FHA programs have already adjusted their limits the seller can pay on behalf of the home buyer. They will now allow the seller to pay the buyer’s agent’s commission without reducing the normal amount sellers are allowed to pay for buyer’s costs.

We will all find ways to best serve our real estate customers and mortgage customers. However, to our real estate pros, it is a good time to consider fresh new ways to build our quality network of trusted professionals for resources we need and our clients need.

KIT & KASEY-IT IS WHAT YOU DO & WHO YOU KNOW THAT BRINGS SUCCESS

Kit and Kasey had been trying to buy a house for over two years. They had their hopes set on a home a over a year ago and almost bought it, but Kit’s mother, who had lost a home to foreclosure during the real estate crash, talked them out of being homeowners.

Kasey called me a few months ago and said, “Kit and I have been watching the house we missed out on buying. It has gone up in value over $30,000 since we walked away from it. Kit and I both are convinced we want to buy a home but there are so many people making offers on the houses we want. Someone always gets their offer accepted over ours.”

Once we updated Kit and Kasey’s loan application, they went the extra mile and sent me their updated paystubs, bank statements and they had worked hard to improve their credit, so that I could get them a stronger lender preapproval letter. Over a year’s time they worked extra hours and saved money so they would not have to ask the seller to pay their costs.

After sifting through three of four offers, the seller was still down to deciding between Kit and Kasey’s offer and someone else’s. The good news for Kit and Kasey was that the listing agent representing the seller knew me because I had closed mortgages for some of her clients in the past. She accepted Kit and Kasey’s offer because she knew me, their mortgage officer. Sometimes, it is not WHAT you know. It is WHO you know.

Do you want to buy a home, but the thought of going house hunting and working through the mortgage process makes you too tired to take action? If you are working with professionals who have their million dollar, trusted network of professionals already in place, then you are over half way to getting the job down before you ever step out the door.

After over 30 years as a mortgage loan officer, I have the network you need. Contact me and I can help you find the right mortgage product and make the process easy. (901) 482-0354 JoGarner.com

(Jo) Terri Murphy, what are some points you will be sharing with us? Terri launches into her topic on How to Build A Million Dollar Referral Network.

You’re on Real Estate Mortgage Shoppe. I’m your host, Jo Garner, Mortgage Loan Officer. What do YOU want to accomplish with YOUR mortgage? I can make the mortgage process EASY. Connect with me at JoGarner.com . When we come back we will be hearing more from Terri Murphy of Terri Murphy Communications. See you back in just a moment.

TOPICS COVERED BY TERRI MURPHY, TERRI MURPHY COMMUNICATIONS

In this segment, Executive Master Coach and Communication specialist, Terri Murphy shares how to build your own Million dollar referral system that not only supports you and your needs, but those you connect with.

This is especially critical when it comes to acquiring or selling real estate, as trust is the name of the game! Terri helps you to identify those key trusted resources from your mortgage provider, legal support,  inspectors  contractors…all the contacts you need for real estate or any business.  If you are looking for  seamless, less stressful and more profitable relationships, tune in to hear Terri and Jo share the strategies you want to deploy to create strong and  supportive relationships 

You will discover:

• How to target and identify your MVP Elite group

• How to approach and organize the nurturing of your special group

• What the process is to stay connected

• When you need to add or delete non-supportive contacts

• Simple fun ways to stay connected

on Terri’s topics:

Introduction

• Get the scoop on the transition from transactional to relational sales connection

• What people crave and don’t get

• What happens when you show real authenticity in seen, value and heard

• How building and developing an Most Valuable Person circle can change your bottom line

Mindset and Expectations

• Connecting vs Networking: A dynamic field, and success that comes from a combination of technical proficiency, adaptability, and relevant collaboration with others.

• Keep learning, stay connected and be prepared for the evolving networking technologies

• Reciprocity – how it works and what are the results

• Realistic Timelines:

  • Understand that network implementations and tweaking can take time. Set realistic timelines for projects.

  • Anticipate results

  • Continuous Improvement:

    • Invest time in monitoring responses, and measuring results

• Monitor and measure to respond and engage the end user’s preferred technology channel

• Customer Service: what is your response time? Automated vs. Personal?

Who ya gonna call? How to target and build your top MVP list

• Define Your Criteria:

  • Who can you help and how can they help you?

  • Who are your raving fans?

  • Crossed categories are okay

  • Who do you support?

• Start with ABC… Who can you support and who supports you?

• Define Your Criteria:

  • How to develop the avatar of the individuals “most valuable” to your objectives. This could include factors such as industry influence, decision-making authority, or potential for collaboration, strategic partnerships, past clients, industry referrals

• Research and Identify:

  • Review your list of A-level Prospects – Determine their line of work or expertise and add to your spreadsheet. Do research to identify individuals who meet your criteria. Look at your own professional networks,

  • Divide your Most Valuable Person list into segments based on shared characteristics or needs. This segmentation can help tailor your approach to different subgroups within the list. (Personal interests, careers, charitable foundations, pets, kids, etc)

• Understand Their Needs:

  • Gain insights into the needs, challenges, and aspirations of the individuals on your list. This understanding will enable you to tailor your messaging and offerings to resonate with them.

• Personalized Communication:

  • Craft personalized and targeted communication. Whether through emails, direct messages, or other channels, make sure your message is relevant and speaks directly to the concerns or interests of the individuals on your list.

Fun Strategies for Networking and Relationship Building:

• Attend industry events, webinars, or conferences where you are likely to encounter individuals from your Most Valuable Person list. Networking provides opportunities to establish and nurture relationships.

• Provide Value:

• Demonstrate the value you can bring to the individuals on your list. This might include sharing valuable content, insights, or offering solutions to their challenges.

Utilize Multiple Channels:

• Engage with your Most Valuable Person list across various channels, including social media, email, and professional networks. A multi-channel approach can increase your chances of reaching and connecting with them.

• Measure and Adjust:

The commitment – Don’t’ start if you can’t finish

• Maintain Consistency: Monthly including face to face

• Be consistent in your communication and engagement efforts. Regular, meaningful interactions help build trust and credibility over time.

• Respect Opt-Outs:

The set up – How to set up your calendar to ensure connection and relevance

• How to start the invite to be a Most Valuable Person

• Scripts and dialogues

• Tools you need (EXCEL, Customer Retention Program)

• What connection options to pencil in:

  • Face to face

  • Events

  • Personal events: B’days, Anniversaries, Pet Days, Personal Career advancement, retirement, relocation, awards

• SAMPLE SPREAD SHEET (from Terri Murphy Communications)

• SAMPLE TOUCH IDEAS (from Terri Murphy Communications)

• Calendar blocking for consistency ( 10 a day for 5 days, 5 per day x 2 days – etc

^3rd SEGMENT 9:35 AM-9:45AM)

TOPICS COVERED BY JO GARNER, LICENSED MORTGAGE OFFICER

KNOWING HOME REPAIR CONTRACTORS -CAN SAVE THE HOME PURCHASE

Roof causing a leak in mortgage approval

Tal and Tia Thompkins are empty-nesters and want to down size to a home with just enough room to have the kids and grandkids over to visit but not big enough for everyone to get comfortable moving back in with mom and dad. Their spacious 5 bedroom-3.5 bath mansion with a barn and acreage to mow was cramping their budget.

One of the life-long dreams Tal and Tia have yearned for is to travel around the world doing cruise ship vacations with a travel group of friends. The obstacle stubbornly preventing the Thompkins from getting to see the world was MONEY—or not enough of it.

The Thompkins were excited about reinventing themselves as frequent cruise ship adventurers. They were smitten by a very small, sort of rustic older place with a minute sized storage shed to match the style of the home and a low maintenance, postage stamp sized lawn. Tal and Tia felt at home in the quaint neighborhood and the smaller place would expand their free time and money too.

Bad news came like a black cloud with the home inspection though. The home needed a major roof repair which was going to cost about $3,500- $5,000. The mortgage company required this to be repaired before closing since it affected the structure and habitability of the house. It looked like a stalemate since home repair contractors were backlogged with work and at that time and could not be available for several weeks. The sellers would not have enough money to pay for it until the home closed and the Thompkins did not want to spend $3,500 to $5,000 on a roof for a home they did not own yet.

In this case, the realtor had developed her trusted group of home contractors. One of the contractors agreed to prioritize the repair and get it completed right away. Because of the level of trust he had with the realtor, he even agreed to wait to be paid until AFTER the closing. The realtor helped negotiate for the seller to pay for the roof repair AND have it done before closing, but only AFTER the Thompkins mortgage was fully approved subject only to the repair being done. The roofing contractor agreed to be paid the day the home sold and the sellers had received their money at the closing table. It was a happy ending helped by the realtor, the lender and the buyer and sellers being willing to negotiate creatively.

KNOWING THE RIGHT REALTOR

Randy the Realtor-Scopes Out A Solution To Raise Appraisal Value

Real estate professionals who can analyze a home appraisal bring massive value to the real estate transaction and their customers. More importantly, Randy personally knew the other realtors in the neighborhood who had been selling homes there. Randy the Realtor listing was for a seller who had spent money upgrading their kitchens and bathrooms. Randy based the list price on houses that also had upgraded kitchens and bathrooms in that neighborhood. Even though Randy’s seller had upgraded his home with granite countertops, hardwood floors, and updated plumbing fixtures and Randy felt it should have appraised for the top price, the appraisal came in $10,000 lower than the sales price. The seller was tight on money and would not sell at a price $10K lower than the list price.

Randy the Realtor put on his sleuthing cap and started researching the homes the appraiser used as comparable sales. Randy found that the appraiser had used homes that had not been updated. Randy got details from his other realtor friends in the neighborhood to put together a report showing the homes with upgrades sold for much higher than the value the appraiser had given. The report was sent through proper channels. By pointing this out to the appraiser, Randy could get the appraisal value on his listed home increased by $8,000—enough to make the terms work for both the buyer and the seller.

It pays to know your way around the neighborhood. It pays to know your way around a real estate appraisal and it pays to have trusted professional friends who can help too.

4^th segment following 9:45 am break about 9:48 to 9:56 am

REAL ESTATE TIP OF THE WEEK –Terri Murphy shares a tip “Don’t wait to buy real estate. Buy real estate and wait.”

Jo Garner’s mortgage tip: Here are some tips from Mottos I try to live up to every day

If you want to be happy and successful,

1. Hire the person who can do the job best. Then let them do what they do best.

2. It’s not always WHAT you know. It is WHO you know and what you DO to move yourself closer to the life you want.

3. Model what works. Find someone who is living your dream. Invite them to lunch and pay for their meal. Ask them how they got to where they are in life and how they manage to stay there. Many times the successful people have multiple resources and have built solid relationships with people who can help them get closer to the life they want.

901) 482-0354 Jo@JoGarner.com www.JoGarner.com

ANNOUNCEMENTS:

Talk Shoppe equips with education, engages by offering connection opportunities between business people and empowers businesses in a supportive community. Talk Shoppe meets every Wednesday 9A-10A CT at Concorde Career College 5100 Poplar Ave 1^st floor Memphis, TN (Clark Tower).

Go to www.TalkShoppe.com and click the Events tab for the link to get into the event online. This Wednesday April 24th, 2024 9AM Come equip, engage and empower YOUR business at Talk Shoppe with the Mastermind Principle-based on the book “Think and Grow Rich” by Napoleon Hill.

SPECIAL NOTE: REAL ESTATE MORTGAGE SHOPPE RECOMMENDS THAT YOU CONSULT WITH A FINANCIAL, LEGAL OR OTHER CERTIFIED, LICENSED PROFESSIONAL BEFORE ACTING OR INVESTING ON ANYTHING YOU HEAR OR SEE FROM THE CONTENT ON THIS SHOW OR BLOG POSTS. THE INFORMATION WE SHARE ON REAL ESTATE MORTGAGE SHOPPE IS GENERAL IN NATURE MEANT FOR GENERAL EDUCATIONAL PURPOSES ONLY. ALL EXAMPLES GIVEN FOR ILLUSTRATION PURPOSES ON REAL ESTATE MORTGAGE SHOPPE AND ARE BASED ON TRUE STORIES BUT WE USE FICTIONAL CHARACTERS AND DO NOT DIRECTLY REFLECT REAL PEOPLE OR EXACT DETAILS IN ANY OF THE SITUATIONS.

QUOTE CORNER familybyheart.net—“ You become like the five people you spend the most time with. Choose carefully.

____________________________________________________________________________________

Talk Shoppe events are free thanks to sponsors Craig Jennings of Avalon Capital. Craig Jennings can help real estate investors pay cash for properties with a temporary hard money loan. If you have a bargain real estate property purchase deal where you can buy, fix up and flip it or keep it, call Craig Jennings at 901 417-8427.

Other generous sponsors committed to our business community are people like Vincent Demps of Masterchek, a cyber security and investigation company. For keeping your data safe with your business and for investigating workman’s comp fraud and more, contact Vincent Demps at Masterchek Master c-h-e-k dot com.

Subscribe at www.JoGarner.com and you can get our weekly blog posts with podcasts conveniently in your inbox.

5. Real Estate Mortgage Shoppe reminds you to MAKE YOUR PLAN. LET’S WORK YOUR PLAN. IF THE DEAL WORKS FOR YOU TODAY, DO IT TODAY.

SPECIAL NOTE: REAL ESTATE MORTGAGE SHOPPE RECOMMENDS THAT YOU CONSULT WITH A FINANCIAL, LEGAL OR OTHER CERTIFIED, LICENSED PROFESSIONAL BEFORE ACTING OR INVESTING ON ANYTHING YOU HEAR OR SEE FROM THE CONTENT ON THIS SHOW OR BLOG POSTS. THE INFORMATION WE SHARE ON REAL ESTATE MORTGAGE SHOPPE IS GENERAL IN NATURE MEANT FOR GENERAL EDUCATIONAL PURPOSES ONLY. ALL EXAMPLES GIVEN FOR ILLUSTRATION PURPOSES ON REAL ESTATE MORTGAGE SHOPPE AND ARE BASED ON TRUE STORIES BUT WE USE FICTIONAL CHARACTERS AND DO NOT DIRECTLY REFLECT REAL PEOPLE OR EXACT DETAILS IN ANY OF THE SITUATIONS.

____________________________________________________________________________________

REJOINDERS:

1. Jackie Woodside, Marlborough, Massachusetts author of “Calming the Chaos”

2. Saul Klein, San Diego, CA Interactive Data (mover and shaker who helped start realtor.com and more)

3. Tony Youngs, Atlanta, GA Real Estate Investment Trainer

Transition Music: “Million Dollars Soul Generation; “If I Had A Million Dollars” Bare Naked Ladies; “Count on Me” Bruno Mars

PICK UP YOUR COPY OF “CHOOSING THE BEST MORTGAGE-THE QUICKEST WAY TO THE LIFE YOU WANT” by: JO GARNER

An essential guide for real estate professionals and their customers.

Now on Amazon and Barnes and Noble

About Terri Murphy www.TerriMurphy.com

Terri Murphy understands the art of engagement through authentic communication.  As a top producing sales entrepreneur in the Chicago area for over 28 years, Terri understands the unmatchable power of how to connect in a noisy and overcrowded marketplace to create powerful connections through powerful engagement in business today. Her expertise is consulting with companies, executives and associations on ways to create new relationships through cutting edge marketing and communication strategies. This includes developing innovative ways to add value and support systems that enhance networking opportunities between companies, their customers and ancillary services that build true clients for life.

As a professional presenter, Terri offers programs that include audience participation and interaction.  Terri empowers her audience members and combines education with “edu-tainment” by providing practical sales and marketing strategies that build high level awareness and customer brand preference. She is a regular consultant to several major companies in the U.S and internationally and is a producer and host for television and radio programs. Terri has been featured on ABC, NBC and CNBC News as a sales expert.  She is a regularly scheduled guest on WREGTV’s Live@9 for Women in Business and co-hosts Women’s Wisdom Wednesdays on KWAM990Talk Radio. and is the founder of www.SmartWomenSmarterChoices.com.

Terri is a pioneer in the development of online distance learning programs. She was the executive producer of the first online training networks, for IRTV/MUZAK and ISucceed/Entreport.com. Her expertise is in consulting and developing educational initiatives for companies, executives and associations on ways to advance skills sets and new relationships with high visibility engagement initiatives that combine both online and traditional communication and connection.

Terri is the president of Terri Murphy Communications, Inc. and CIO of U. S. Learning, a global interactive on-demand learning and training company based in Memphis TN.

Terri is the founder of SmartWomen/SmarterChoices, a coaching and consulting initiative for women in business. She is a nationally syndicated columnist, online media producer, radio and podcast personality, business coach & consultant and certified DISC and Motivators specialist.  Terri is the author of 5 books on sales and leadership and is a certified DISC/Motivator specialist.

Terri Murphy, President
Terri Murphy Communications
Author /Master Level Coach|TEDTALK Speaker
Senior Executive Editor-RealtyTimes WomenInBiz-WomenInRealEstate
Women’s Wisdom Network Podcasts: https://spoti.fi/36xUBJh
www.TerriMurphy.com | M: 847-970-2717 –

ABOUT JO GARNER-MORTGAGE LOAN OFFICER:

WHAT DO YOU WANT TO ACCOMPLISH WITH YOUR MORTGAGE?

www.JoGarner.com (901) 482 0354 jo@jogarner.com twitter @jogarner NMLS# 757308

“Whatever YOUR personal priorities are, my job is to help you get the mortgage terms that will give you bragging rights when you talk about it and help you score on hitting your goals .”

As a mortgage loan officer, my job is to help you get to the benefits you want from your financing terms. What is most important to you? I can help you find the financing terms that will help you get to what you want. What is your comfort level on a house payment? How much are you comfortable paying down,? What type of financing do you need to get the house you want to buy or refinance?

Different clients have different priorities in life—some are buying their first home with very little down payment funds. Some are recovering from medical challenges, divorces or preparing to send children to college and some are embarking on a long term goal of buying properties to build rental income.”

Jo Garner is a mortgage officer with extensive knowledge in tailoring mortgages to her customers who are refinancing or purchasing homes all over the country. She offers conventional, FHA, VA or other loan programs for refinancing and purchases.

Jo can help you look at rent vs buy, when it makes sense to refinance, how to get the best deal on your home purchase financing.

Jo Garner has been in the real estate/financing business for over 25 years.  She grew up in West Tennessee and got her start in real estate in Portland, Maine where she first began her real estate career. She received her real estate education from the University of Southern Maine  and was personally mentored in San Diego, California  by Robert G. Allen, author of Nothing Down, Creating Wealth and The Challenge.

On moving back to West Tennessee in 1987, she went into business buying and selling discounted owner-financed notes secured on real estate.  In 1990 Jo went to work for a residential mortgage company and has been a mortgage loan officer for over 25 years.  Her goal is to offer excellent, affordable service to her customers, tailoring the loan programs to the specific needs of her clients. 

In addition to her work in the mortgage field, Jo Garner  is the primary sponsor and founder of Talk Shoppe in Memphis. www.TalkShoppe.com Jo Garner also host the radio show Real Estate Mortgage Shoppe airing on News Radio AM 600 WREC and iHeart Radio with podcasts and show notes published on www.JoGarner.com Pick up Jo Garner’s book on Amazon or Barnes and Noble “Choosing the Best Mortgage-The Quickest Way to the Life You Want”