Origination

SUMMARY:
On this episode, I had the pleasure of speaking to Henry Stimler who is an Executive Managing Director at Newmark. Henry certainly knows how to go hunting for whales. Yeah, he actually closed new marks largest agency deal, clocking in at $1.85 billion. That's the kind of loan that every originator fantasizes about. Henry came to the country from England with foreign dollars, and no industry background, but somehow was able to land those types of deals within just about 10 years from entering the industry. So how did he do it? There are a couple of themes that I think you'll hear you're one is the enthusiasm and energy with which Henry approaches the business. Energy is attractive. energy and enthusiasm you make people want to be around you. And you'll hear that come across very clearly in my conversation with him. The other component that you'll hear is the idea of really focusing on the client and what's in it for them, how can you help them grow their business, it's not about selling a product, it's about helping them achieve their future. This is really an awesome conversation.
TIMESTAMPS:
0:00 - What separates the top performers from the rest.

1:57 - What’s your earliest sales experience?

7:46 - How to get into the world of multifamily finance.

11:14 - How he got into the real estate finance business.

16:55 - What is the best piece of advice you can give someone trying to make it?

22:10 - You can act confident even if you don’t feel courageous.

28:21 - The most important thing in the multifamily business is your ability to raise equity -.

33:21 - How to get your foot in the door -.

37:03 - What’s your approach when you’re working with an originator who doesn’t want to close a deal.

41:41 - What’s the future of fixed-rate finance?

45:29 - How do you stay in contact with clients and provide value in a non-transactional environment?

52:01 - The first thing that people lose in times of distress is their future.

lenders, market, people, loan, client, equity, selling, deals, screen protectors, year, calls, rates, business, borrower, easy, long, sales, chase, interest rates, debt

On this episode, I'll be speaking with Elisa Brown, the CEO and founder of Mapps Travel Agency. Having just returned from a fantastic trip planned by Elisa, I thought there were lessons that all of us could learn from how Elisa operates her business and the above and beyond customer service she provides.
4:00 - Customer Service

19:00 - How to determine if Mapps Travel is the right fit for you

30:00 - Accommodating rapid change requests

38:00 - Travel amidst new Covid concerns

43:00 - How to actually relax and enjoy your vacation

47:00 - Managing expectations on your trip

51:00 - How to find Elisa and more on her specialties

lenders, market, people, loan, client, equity, selling, deals, screen protectors, year, calls, rates, business, borrower, easy, long, sales, chase, interest rates, debt

The story highlights the speaker's experience as a teenager working at a phone repair kiosk, where customers would frequently ask if he could fix their broken screens. The speaker then taught himself how to fix screens and began selling them at a profit, eventually sourcing them in bulk from Alibaba to lower the cost. The story also touches on the theme of listening to customer needs and responding to them in order to create a profitable business.
00:01 Introduction to this episode.
07:13 Selling screen protectors.
13:01 Being data-driven and sharing information.
15:00 Transparency creates value for both sides.
18:58 Lessons learned from John’s pitch.
25:50 The importance of having committed clients.
31:21 Comparison of debt service on a deal by deal basis.
36:45 Risk of taking a gamble.
40:38 Long term maturities and extensions.

lenders, market, people, loan, client, equity, selling, deals, screen protectors, year, calls, rates, business, borrower, easy, long, sales, chase, interest rates, debt

How do you get to be a $7 Billion guy? In this episode, we find out from the best: Mordecai interviews Chris Sower, Executive Managing Director with Cushman & Wakefield, and a salesman who has represented over 42,000, multi housing units, and closed over $7 billion of transactions.
TIMESTAMPS:

1:54 - Early Sales Experience

7:21 - The Line Between Sales and Execution

11:56 - Differences in Process for Unit Size

14:36 - Change in Perception on Larger Sales

17:16 - Safety Zones

21:00 - What Do You Look For When Hiring Salespeople?

23:53- What Makes a Collaborative Sales Environment?

29:42 - Understanding Trends Based On Your Market

31:05 - Training Your Competition

36:55 - The Whole Is Greater Than The Sum Of Its Parts

39:46 - Current Trends

44:30 - Not All Clients Are Equals

47:45 - Trends in Land Sales

53:10 - Changes in Waterfalls?

54:51 - Advice For College Grads Coming Into The Business

lenders, market, people, loan, client, equity, selling, deals, screen protectors, year, calls, rates, business, borrower, easy, long, sales, chase, interest rates, debt

Join me and JP as we discuss his companies, Loan Boss and Pensford Financial Group, and the innovative system he has created.
See the timestamps for topics:
1:33-5:30 Entrepreneurs as Salespeople

5:30-7:19 First Sales Experience

8:42-13:09 Persuasion/Empathy

13:09-16:28 Compromise/Value Exchange

16:28-20:50 Loan Boss

20:50-24:13 Target Buyer

24:13-27:28 Business Development

27:28-30:47 Digital Marketing

30:47-33:57 Return Rate

34:52-39:11 Offering Value

39:11-47:20 Technology & Salespeople

lenders, market, people, loan, client, equity, selling, deals, screen protectors, year, calls, rates, business, borrower, easy, long, sales, chase, interest rates, debt