Mortgage Marketing Radio: Key Takeaways from Over 1000 Coaching Sessions
Release Date: October 24, 2024
In the episode titled "Key Takeaways from Over 1000 Coaching Sessions," host Geoff Zimpfer delves deep into the world of performance coaching within the mortgage and real estate industries. Geoff sits down with Coach Michael Regan, a seasoned leadership coach with Building Champions, to extract invaluable insights from his extensive experience conducting over a thousand coaching sessions. This detailed summary captures the essence of their conversation, highlighting key discussions, strategies, and motivational advice for Mortgage Loan Originators aiming to elevate their business in 2025.
1. Introduction to Michael Regan
The episode opens with Geoff introducing Michael Regan, a performance coach and co-host with over 12 years dedicated to the mortgage industry. Michael emphasizes his passion for simplifying complex business dynamics, fostering harmony between personal and professional life, and reducing stress for high-performing housing industry professionals.
Notable Quote:
“I focus on simplifying everything so that professionals can experience more harmony between life and work with less stress.”
— Michael Regan [00:11]
2. Who is Ready for Coaching?
Geoff and Michael explore the characteristics that define individuals ready for coaching. Michael identifies three primary attributes:
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Humility and Coachability: Prospective clients must possess the humility to accept guidance and the confidence to believe in their capacity for growth.
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Vision: Clients should have a clear, albeit sometimes basic, vision of their goals and recognize the potential for improvement with the right support.
Michael underscores that Building Champions targets those already aspiring to excellence rather than individuals still determining their career paths.
Notable Quote:
“They have to believe in their ability to grow and do more than they're currently doing.”
— Michael Regan [02:49]
3. Addressing Stagnation and Plateaus
The conversation shifts to professionals who feel stuck or unchallenged despite previous successes. Michael notes that many clients seek coaching after experiencing a plateau, unsure of their next steps to advance further.
Notable Quote:
“They’ve experienced some level of success, but maybe they felt some sense of plateau... they just continue doing what they are currently doing and maybe hoping that market conditions and longevity equal improvement, but typically they don't.”
— Michael Regan [04:59]
4. Preparing for Q4 and 2025: Strategic Playbook
As the discussion moves into tactical strategies for the upcoming quarter and year, Michael outlines a dual approach:
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Proven Processes: Leveraging tried-and-true methods that consistently yield results.
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Customization: Tailoring tools and strategies to reflect each professional's unique strengths and market position.
Michael introduces concepts such as narratives and navigation, emphasizing the importance of storytelling in business planning and the breakdown of goals into actionable steps.
Notable Quote:
“I want to work with people who have that entrepreneurial or that ownership mindset that want to design something that reflects their uniqueness.”
— Michael Regan [12:00]
5. Mindset vs. Skillset
A pivotal part of the episode addresses whether mindset or skillset comes first in professional development. Michael firmly advocates for mindset as the foundation, asserting that inner beliefs and attitudes drive decisions, actions, and ultimately, results.
Notable Quote:
“Mindset has to come first... if your mindset is in any way not stable, it's going to be really hard to build your skillset.”
— Michael Regan [08:54]
Geoff concurs, highlighting the importance of identity and self-perception in achieving sustained success.
6. The Power of Fundamentals
Michael emphasizes the relentless focus on fundamentals as a common thread among top producers. He shares anecdotes illustrating how basic, consistent actions—such as meticulous planning, time blocking, and accountability—are more effective than chasing flashy, trendy strategies.
Notable Quote:
“The Fundamentals are things like having a plan for your week before the week starts, having everything you intend to do, time blocked, tracking everything you did... they're not sexy, they're not fun.”
— Michael Regan [29:51]
Geoff echoes this sentiment, likening the adherence to basics to football’s focus on blocking and tackling, ensuring steady progress.
7. Embracing the "Suck" in Fundamentals
Acknowledging that foundational tasks can be tedious, Michael advises professionals to change their thinking to embrace these necessary yet mundane activities. He suggests integrating mindset shifts through recommended literature like "Atomic Habits", encouraging gradual improvement through consistent, small actions.
Notable Quote:
“If I can get them to think differently, I'm more likely to get back to what we started with. Now they're humble, now they're hungry, now we're ready to really get to coaching.”
— Michael Regan [30:52]
8. Feedback and External Perspectives
In the latter part of the conversation, Michael highlights the importance of constructive feedback from coaches. He urges clients to remain open to external perspectives, which can illuminate blind spots and enhance personal and professional growth.
Notable Quote:
“I need them to have enough openness to say, help me see what I can't see.”
— Michael Regan [38:24]
Geoff adds that such feedback is crucial for authentic self-assessment, beyond the introspection professionals might already engage in.
9. Michael’s Podcast and Building Champions
Before concluding, Michael introduces his own podcast, "Building Bigger Lives," which complements his coaching philosophy by offering deeper insights into the topics discussed. He also reaffirms his commitment to Building Champions, positioning it as a leading coaching organization within the mortgage industry since 1996.
Notable Quote:
“Building Champions has not left the building. And I'm going to plant our flag strong and make sure we are present and helping as many people as we can over the next decade.”
— Michael Regan [43:44]
10. Final Thoughts and Resources
Geoff wraps up the episode by encouraging listeners to explore the free resources available at buildingchampions.com, including personal vision guides and focus plans. He reiterates the importance of aligning mindset with skillset to achieve business growth and personal fulfillment.
Notable Quote:
“If there's one takeaway, there's one right or downer for anybody listening right now, that's it. Be brilliant in the basics.”
— Geoff Zimpfer [29:51]
Conclusion
This episode of Mortgage Marketing Radio offers a comprehensive exploration of effective coaching strategies tailored for mortgage and real estate professionals. Michael Regan's insights, drawn from over a thousand coaching sessions, underscore the importance of a strong mindset, adherence to fundamental practices, and the continuous refinement of personal and professional narratives. By integrating these principles, Mortgage Loan Originators can navigate the challenges of Q4 and build robust momentum into 2025.
For additional resources and to engage with Michael Regan's coaching services, visit buildingchampions.com or tune into his podcast, Building Bigger Lives, available on Apple, Spotify, and YouTube.