On episode #37 of the Profits Over Wages Podcast we sit down with Joel Schaub, VP of Mortgage Lending at Guaranteed Rate. Joel is a highly recognized Chicago mortgage specialist with 13 years of experience in lending. He is one of the top loan officers at Guaranteed Rate and a member of The President’s Club. Joel is also recognized as Top 1% of all loan officers nationwide for annual volume having exceeded $100 million over the last three years. He has handled 2200+ transactions with a career loan volume in excess of $350 million. He’s been awarded 100% customer satisfaction every single year since 2010.
Joel specializes in providing low to no closing cost options for both new buyers and those who are refinancing and is known for his TV advertisements showcasing his $350 Flat Fee Mortgage. He’s known to give closing credits to clients and gave back $260,000+ of his commissions last year. He is also an avid Cubs fan and season ticket holder, and has 12 billboards in the Wrigleyville area with his slogan Chicago Fan, Mortgage Man. For honest service and real advice from a dependable professional, Clients and Realtors Know, Just Call Joel.
On this episode we talk about how Joel has been able to get to $100 million in volume over the last 3 years and he gives advice on how to get started and how to grow your book of business as a new loan officer. We also talk about how Joel was able to not only survive but thrive after the real estate market crash and why in business you must focus on building life-long relationships and giving back as much as you can.
- Who is Joel Schaub
- How and why did you get into the mortgage industry?
- What was it about mortgages that interested you?
- How does the mortgage industry work as a loan officer?
- Why choosing to go into something that is commission only is the way to go vs having a secured salary
- Book: Think and Grow Rich by Napoleon Hill
- What’s something you’d say to someone just starting out as a loan officer?
- Where in Michigan did you grow up?
- How do you grow your book of business as a loan officer just starting out
- Joel talks about how he first built his book of business
- Focusing on building life-long relationships
- Joel talks about how and why he not only survived but thrived after the real estate market crash
- What have you done to scale your business?
- Joel talks about how he gets 20-30 transactions per month
- Joel talks about why business is a givers game and why he gives back so much
- What type of charity events do you do?
- ”People wanna buy but they don’t wanna be sold”
- ”Find something that you’re passionate about and connect with people”
- What are some of the challenges you’ve had growing your business and how did you overcome them?
- ”I try to accentuate the positive on everything”
- Where you do you see your business going in the next few years?
- Joel talks about Guaranteed Rate and what makes them different
- How does your process work from start to finish?
- What habits helped make you successful?
- For someone just starting out, what habits should they have?
- If you had the chance to start over, what would you do differently?
- How do you stay motivated?
- Why did you decide to be a mortgage broker?
- What is your best hiring tip or secret?
- Have you ever turned down client? If so, why?
- What is one thing that you find to be true that most people would disagree with?
- What was the worst piece of advice that you ever got?
- Do you have favorite failure? Is there one that set you up for a future success?
- Why do you do what you do? What gets you through the tough times?
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