Winning Loan Officer Strategies with Jim Mcmahan of Benchmark Mortgage
Another Interview from the MMLA Sales Summit if you are a Loan officers looking for Winning Loan Officer Strategies check out this interview with Jim Mcmahan of Benchmark Mortgage.
I was honored to interview Jim Mcmahan of Benchmark Mortgage. Jim has been a Loan Originator in the Dallas market for over twenty nine years. Jim’s personally funded over the $1.5 billion dollars in loans, making him one of the top originators in United States. Jim serves as President of Benchmark Mortgage and focuses on helping originators gain knowledge and strategies to improve their service. Jim has developed presentations such as, “Raising the Standard of Professionalism In Our Industry,” “Relationship Selling,” and “Personal Development Strategies.”
Dave: Hi Everybody Dave Sullivan here for the MMLA membership committee with…
Dave: Jim thanks so much for coming out, you did a great job today, I wonder if you would share the story of your grandfather and perspective with us.
Jim: Sure thanks Dave, yes it was fun today to talk to this group here in Michigan. The most powerful lesson I learned early in my sales career was as a kid. I had a grandfather who I talked about today. I’m 54 this year, he was 54 when I was born. So I had a fifty year relationship with a guy that lived to 104 and he taught me that perspective is a choice.
Perspective can get locked in and have its own invisible barriers sometimes, so my thought process on perspective is that you own it. It’s a choice and you need to work on all the time. You can choose your perspective, choose to be different, you can think different, you can implement different strategies, but you also have to have time.
That is where my 80/20 rule came from, eighty percent of your time in your business and twenty percent on your business. Most people spend a hundred to 110 percent of their time in their business, so perspective is a powerful choice.
Dave: I like what you said about the WD’s, that is so important. I think we can get lost in the busyness of work, another thing that you said during your presentation. Please expand on the WD’s concept.
Jim: So WD’s was a terms from the war few years ago. My WD’s are my wealth determiners and when you look at your business today, we all have twenty-four hours in a day. As I grew my practice especially in the early years, (twenty nine years in the mortgage business) in years; five, six and seven, I had a lot of success.
I was busy and inefficiently busy as I begin to look back, at who I had influence over and was able to actually realize that there were a handful of great clients that we’re referring me more business than even some realtors.
I recognize those, gave them a name “wealth determiners” and then spent more time becoming more valuable to those people. Today, I call that becoming more valuable to fewer of the right people. If you put a fence around those wealth determiners be it; Realtors, referral partners, builders but also past clients. It’s amazing what can happen overtime.
Dave: I really enjoyed your speech and thanks again for coming up to Michigan. A Michigan boy, so we do appreciate you coming home. How can people reach out to you?
Jim: My email it is the easiest way to reach me Jim@benchmark.us
Dave: Great thanks so much!
Jim: Thank you.
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