In the first few days of my new role as President and CEO at Mortgage Magnates (formerly Mortgage Mondays), I have been asked by many in the industry: “Is this thing legit?” “It looks good, but why is it only $16.99 per month?” “Why would you pay the brokers that appear on the videos to share their best practices? I am sure most would do it for free.”
The answer is very simple. My approach, and the approach of everyone ever associated with Mortgage Magnates is and always will be, we are in the business of people. Not training, not profits.
When we say this is ‘brokers helping brokers’ we truly mean it.
Of course we know it is also a business and businesses need to make money to survive, but our primary mindset is “people” and those “people” are each and every one of you.
I am sure that is going to be met by skepticism by some and you are well within your right to take that approach. Society and likely business in general may have hardened you that way. Proof will be in the action and not the words.
When it comes to Mortgage Magnates, we will act, not spout.
If our members learn something from a “magnate” of the industry that has experienced success using that best practice themselves, and it helps this newer professional take their business to the next level and put food on the table for their family…then we have done our job.
We are not worried about their monthly fee. We are celebrating their win! We want them to be so successful that they end up in one of our next videos a few months down the road and WE pay them. That is our goal.
As for paying the residuals to brokers that appear on M|M University, I wholeheartedly believe in this approach.
You are sharing best practices that took you a very long time to discover ,and likely weren’t paid to discover them, it was just trial and error. You deserve to be rewarded for sharing it.
Not only that, paying the magnates of the industry to share best practices ensures they share the best ones, that make the most impact. How?
Our residuals are paid per view of the video. So if the featured broker shares something just to share it, and it doesn’t work, it won’t get the same amount of views as a stronger best practice that is working well for our members, and therefore, they won’t get paid as much in residuals.
The point is, to be a business about people first, we have to truly be about the people we are involved with. Our membership, our featured brokers, our own team, all of our families. It is about making this industry even better than it already is and setting ourselves apart from the banks. It is about continuing to make all of us the best choice for mortgage advice for North American families.
Making a difference in the business of people is all in how you show up. I encourage you all to watch this video by my friend and industry speaker Ryan Estis about running into someone that was in the business of people and how it changed his world. It will give you strong insight into why this is and always will be, the M|M University approach to our industry.
All the best to you as you finish your 2019! We can’t wait to work with you all.
Chris Baker is President and CEO of Mortgage Magnates and M|M University.