Critical Activities for Today's Mortgage Market

Dale Vermillion shares the specific mindset shifts and conversation frameworks that are helping his coaching clients outperform the market in 2023 — including two consumer-direct shops beating their 2021 numbers. He covers how to open calls, deflect rate questions, and turn every contact into a referral or repeat transaction. Essential listening for any LO who feels stuck waiting for the phone to ring.

Takeaways you can run this week

• Block 9–11 AM every morning as a no-email, no-headlines phone prospecting window. Call past clients, cancelled files, and turn-downs in that window — nothing else.
• Open every past-client call with this script: 'I know the economy is tough right now. I'm sure you're feeling the effects like I am. Is there anything I can do to help you?' Then pivot: 'I'd like to do a free analysis just to see if there's something I can do.' If they say no, ask: 'Who do you know that might be looking to buy or lower their payments?'
• When a new lead asks about rate, say exactly: 'Great question. I have no idea what your rate is yet because I don't know anything about you. My rates are awesome — you don't need to worry about that. And if you don't love the deal when we're done, you're always welcome to talk to someone else.' Then redirect to their situation.
• When sending an online application link, stay on the phone while the borrower fills it out. The three biggest drop-off points are birthday, SSN, and income — your live presence prevents abandonment and keeps the relationship building.
• Diversify referral sources beyond Realtors: add financial planners, wealth managers, CPAs, investor-focused agents, and divorce attorneys — all are high-value, low-competition referral channels in any market.
• Spend 30–60 minutes on intake conversations instead of 15 minutes. One solid app per day = 21 deals/month in pipeline; at the 70–75% national funding rate, that yields 15–17 closed loans/month.

The playbook

1. 1. Open with the economy: 'This is one of the toughest markets since 2008. I'm sure you're feeling it. If I could show you a way to save thousands, build reserves, and increase cash flow — would you like to hear about it?'
2. 2. Shift from Price/Product/Process to Security/Stability/Savings as your three conversation pillars.
3. 3. Ask curiosity questions as if meeting them at a social event: 'Tell me about that home you're looking to buy. Tell me about what you want to do with that $50,000.' Listen without looking at your screen.
4. 4. Delay qualification — spend 5–10 minutes building rapport first, then qualify. If they don't qualify, you now have a relationship to nurture toward a future deal instead of nothing.
5. 5. Send the application link mid-conversation and walk them through it live to prevent drop-off at birthday, SSN, and income fields.
6. 6. Spend a full hour if they qualify. Time invested = reduced likelihood they'll shop competitors, regardless of trigger leads or rate ads.

Worth quoting

“It's never what happens to you in life. It's always what happens in you in life that makes all the difference.”

“Better calls, more money. That's the way it works.”

Best for

LOs who are waiting for inbound activity instead of creating outbound conversations, or who rely almost entirely on Realtors as their only referral source.

Links from the show notes

• www.DaleVermillion.com
• here