Breon Price is a rapidly rising star in his native Ohio. The owner of Motto Mortgage, Breon has made impressive strides only a few years into his career as a broker. A former athlete who began as an underwriter, Breon made the transition to brokerage in 2018. A mere two years later he was made managing partner, a testament to his tenacity, work ethic, and drive to understand the game.
In this conversation, Breon shares his thoughts on what makes a broker successful in 2022. Price says that personal investment is criteria number one, citing a “skin in the game” mentality for associates at every level of his brokerage. “If a loan doesn’t close on time, that should hurt” he says. “Most operations fail because (that mentality) doesn’t carry through processing and closing.”
He also stresses the importance of building lasting relationships – not just with clients, but with realtors and builders. Price notes that nourishing these connections is often more fruitful than a purely client-driven approach. This dovetails with his calls to set goals for yourself and your business, and then attack those methodically. “My goal is to do 450 transactions this year – I’m not going to get 450 clients. I’m going to get 15 realtors and 3 builders, and get 20 loans from each of them.”
To Breon Price, face-to-face is still the crux of the business. He has no fears about the internet killing the broker business. He believes a good broker is an inimitable resource, a wealth of knowledge and support for the client. His approach is to use the tools technology provides, but to never lose that personal touch. He emphasizes the importance of building up local influence, within 15 miles or so. “Be the mayor of your local sphere” he says.
Price sees his role in the homebuying process as more than just a broker. He is a coach, a cheerleader, the guy you call to recommend a plumber or an appraiser. He is a professional facilitator, the lender clients know they can trust. Parting advice? “Don’t forget you’re in the service industry… I know I’m not going to make money on deals 1 and 2. But I will on deals 3, 4, 5, 6, 7, 8, and 9.”
3:15 – Personal Investment and Attitude
9:20 – Why Rates Aren’t Everything
16:00 – Dominating the Local Sphere
27:00 – Providing Value to Clients
This episode is sponsored by PRMG