The Mindset You Need for The Current Market
Todd Duncan joins Geoff to break down the mindset and specific actions LOs need to survive and thrive in a high-rate, low-volume market. He covers why 41% of LOs have already quit (creating less competition), a 3-step rate conversation framework to stop getting shopped, and the one daily action that compounds into real pipeline. Best for LOs feeling stuck or frozen about what to do next.
You're more likely to act your way into feeling motivated than to wait for motivation before taking action — so make one meaningful call today.
Takeaways you can run this week
- Call every agent who gave you a purchase loan in the last 12 months — one per day. Script: 'Hey [name], I was going through my records and saw we closed the [Johnson] loan together last year — just hit me that I haven't said hi. Market's crazy. How's your business? Do you have time for a quick coffee? I'd love to ask you a few questions and share some things I'm doing with agents right now.'
- Ask every agent you already know: 'Do you have a friend in real estate that I don't know that I could call using your name?' If you're currently working with 20 realtors, your target right now is 40–50.
- Use Rate Rule #1 verbatim: When a buyer asks for your rate, say — 'There are a lot of ways we can customize a rate and program for you, but it would be inappropriate for me to quote that without knowing what you're trying to achieve. Before we talk rates, let me ask: in the overall scheme of things, what's most important to you — rate, payment, or the cost of borrowing money to own real estate?'
- For first-time homebuyers who seem scared, open with this single question before any loan talk: 'I know this is your first home — what would it mean to you to own one?' Let them answer fully before moving forward. Todd's example: one LO who used this generated 13 closings and $100K in commission from a single couple in 7 months via referrals.
- Download Todd Duncan's free 'Talk Less, Sell More' 19-page PDF at td.com under Free Resources — it contains scripts and dialogues for the rate conversation and a full real estate agent outreach section.
- Spend 45 minutes every morning before the workday starts — before others are up — on headspace: mindset reset, skill review, and setting your daily action target. Todd's model: get mind right, sharpen one skill, make at least one meaningful call.
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GET FREE ACCESSThe playbook
- Step 1 — Do not quote a rate until you have created value. State: 'It would be inappropriate for me to quote a rate without knowing what you're trying to achieve.'
- Step 2 — Ask the value-creation question: 'What's most important to you — rate, payment, or the cost of borrowing money to own real estate?'
- Step 3 — Create friction (engagement) by reframing the buyer's thinking before any numbers enter the conversation.
- Step 4 — For first-time buyers, ask 'What would it mean to you to own a home?' and let emotion drive commitment before logistics.
- Step 5 — Present a customized program/strategy tied to their stated goal, not the lowest rate.
Worth quoting
“You're more likely to act your way into feeling motivated than to try to get motivated to take action.”
“Today's purchase is tomorrow's refi — get strategic, people are buying homes.”
Best for
LOs who are frozen, unsure what to do daily, and getting rate-shopped — especially those who haven't called their past agent partners in months.