Channeling Wholesale: Paving the Way for Retail LOs to Become Brokers with Jennifer Gormer – Episode 194

Posted July 2, 2024

This episode is sponsored by NMBD: CONNECT – coming to Anaheim, Tampa, and Detroit

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NMBD: CONNECT presents: Broker to Broker, Episode 194! In this incredible episode, learn to make & create successful retail-to-wholesale channel transitions for yourself and others, as host Marc Summers is joined by the President & CEO of Integrity Home Lending, Jennifer Gormer.

Jennifer is a master of many. A former retail training expert and ballerina, Jennifer is now a Broker-Owner, a Learning & Talent Development Leader, Educator & Scholar, a three-time best-selling author, an executive board member, keynote speaker, and so much more. Don’t let those titles fool you; above all, Jennifer is an accomplished educator.

Using her skills as a retail and wholesale educator, Jennifer now shares her expertise to guide retail LOs in their journey in the wholesale channel, granting them all the most important tools and training for even more successful careers as independent mortgage brokers.

Jennifer embodies the abundance mindset of our community, by sharing her best, most successful strategies for recruiting and transitioning from retail to wholesale, which regards having your own expectations and processes in place, before you’ve even initiated outreach:

“I’m 20 years in the mortgage industry this year. I’m very selective about the people that I hire. I’m going to be honest, I’m looking for junior Jennifers. Everyone has their own recruiting philosophy. If if a Broker Owner does not have a profile, a model of the types of candidates that they’re seeking, I encourage them to do so.” Jennifer states “If you don’t have your sales funnel, if you don’t know your sales process, if you don’t have an actual guide and a template of the person that you’re seeking to hire, you’ve got to pause and step back. I know who I’m hiring because I’m looking for junior Jennifers. I’m not the broker for someone coming in brand new. I’ve been there, I’ve seen it. I’ve trained them for years. I’m looking for the junior Jennifers that are ready to sell their business. I’m looking for the junior Jennifers that have had that experience in retail. And they finally figured it out after we had a some phenomenal interviews, and they say ‘You know what? I’m closing 10 or 15 loans and I can make $20,000 – $40,000 a month. And it’s not about the numbers; I want to support my customers better. I want to give them better products, better services, better service, better communication. I want to close them quicker.’ I’m looking for that originator. And when I find that originator, we’re ready to go.”

Key Points:

1:21 – Getting Started / Retail, Wholesale, and Everything In-Between

4:10 – Lessons from Banking & Dancing: The Power of Experience in other Industries

9:24 – Taking off the ‘Golden Handcuffs’ of Retail

17:17 – Setting your Recruiting Processes and Expectations

24:15 – Customer Experience = Client Education

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