The RE/MAX R4 convention is an annual event that brings together the most skilled, knowledgeable, and entrepreneurial minds in the real estate industry. This conglomerate of real estate professionals from around the globe travel to R4 to hone their craft, stay on top of trends, and share their insights and experience. They also utilize this valuable platform to discover additional ways to grow their business.
This year, Ward Morrison, president and CEO of Motto Franchising, LLC, held a captivating session at R4 alongside RE/MAX and Motto Mortgage franchise owners Walter Borgen and Sammie Knight, and Motto Mortgage co-owner and mortgage loan originator, Nina Harrison. This interactive discussion focused on how adding ancillary mortgage services to your real estate business can be one of the best ways to “get more juice from your squeeze”, with the three main takeaways being:
- Adding an additional revenue stream
- Differentiating your brokerage
- Enhancing the client experience
That’s where Motto Mortgage comes in.
With competition as fierce as ever in the marketplace and with homebuyers searching for the most streamlined option to help them reach their goals, offering real estate and ancillary mortgage services can be a home run for all parties.
“Agents and consumers both love it,” said Walter Borgen, broker/owner of RE/MAX Signature and Motto Mortgage Signature Plus in Florida. “Consumers really benefit from the one-stop shop aspect of it because it’s so convenient and easy.”
Nina Harrison, co-owner and mortgage loan originator of Motto Mortgage Superior in Tennessee, added: “Our close proximity to a RE/MAX office and having constant contact with over 100 agents is awesome. When they have a client that wants to get prequalified right then, all they do is walk them to our office. That’s one thing the agents absolutely love.”
What about the benefits to the franchise owner? “I was initially worried about being too hands-on, and I don’t have a lot of time with my other businesses,” Walter said. “But once we were up and running and for the day-to-day, it’s great. Most of what I do is talk about Motto all the time, help promote the Motto LOs, and help get them in front of people, and it’s been a great partnership. I’m very pleasantly surprised.”
Additionally, once an office is set up and running, franchise owners have the ability to keep building their business thanks to professional brand marketing, seamless technology tools, ongoing compliance support, and a comprehensive product mix provided by Motto Mortgage.
Setting Up a Motto Mortgage Franchise
It may be easy to talk about adding mortgage services to a real estate brokerage, but is the process actually more complex for franchise owners?
According to Sammie Knight, owner of RE/MAX Experts in Tennessee and managing member of Motto Mortgage Superior in Mississippi and Tennessee, the set-up support and guidance from Motto Mortgage made a real difference from the get-go.
“Motto never refused my calls, they always stepped up to the plate, set up meetings with vendors and supported us all the way through,” Sammie said.
Walter agreed, saying “The licensing process and set-up was a breeze. I was blown away by Motto – we called them every day. They bend over backwards to help you, they know the industry, they really help you build your business and put out any fires. Motto was with us every step of the way.”
The panelists also highlighted how much Motto Mortgage helps with compliance, RESPA, and other regulatory requirements.
“Mortgage has rules, just like you have in real estate,” Sammie said. “Just follow the rules. It’s nerve-racking at the start, but once you get into it, it’s just rules.”
“We reached out to corporate about our first audit and they walked us through from start to finish,” Nina said. “I knew we did everything correctly, but I talked to corporate and their entire team took care of us and we didn’t have one violation. It felt really good.”
Motto Mortgage as a Growth Solution
If you own a real estate brokerage, you’re likely sending your mortgage business out the door right now. The good news is that you don’t have to do that anymore — not when you add ancillary mortgage services to your real estate brokerage. Motto Mortgage provides a Brokerage-in-a-Box℠ franchise solution that removes compliance, distraction, and capital barriers from the table, allowing you to focus on being a one-stop shop for your buyers and business partners.
To conclude the session, Ward asked the panelists what their advice would be to someone considering owning a Motto Mortgage franchise?
Sammie’s suggestion was to “stop waiting.” Walter agreed: “Stop waiting. Just do it.” Nina closed it out by sharing, “I would absolutely do it again.”
Ready to explore ownership? Get started now!
Published on March 11, 2022
