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National Mortgage Professional
Apr 28, 2005

Tidbits to success: The secret is to be in two places at once when you are not anywhere at allEric Weinsteinsuccess tips, sales, motivation I have to admit that I have not done a loan in four years now. Now, I do administrative tasks and try to help other loan officers be successful. Even when I was a loan officer, I was good, but I doubt I would have been on the winner's list every year. To tell the truth, with the strict hiring we have now, I doubt I would have been hired at all (just kidding!) It's not that I'm not smart; it's just that I'm basically a lazy person and accumulating money was not my priority in working. It's ironic how things work out though. The more I gave away, the more I got. Cast your bread on the waters ... blah, blah, blah. So how did I become so successful? Looking back now, I know, but at the time, I didn't realize it. The secret is to be in two places at once when you are not anywhere at all. Like you, I was a loan officer, "one place," and maybe like or unlike you, I was always on the lookout to find other good loan officers and bring them into the folda second "place." Even though I was in two places with this, business was not who I really was (that's the "not anyplace at all" part.) My mind and soul were focused on being with my family and trying to do good deeds. It started out being what I did, and only later, it became who I am. Now, for the tidbit to success part Let's pretend you have a job digging ditches. Further, pretend it takes you all day to dig just one ditch and they pay you $100 per ditch. Therefore, you know that all you could ever make is that $100 per day. No matter how hard you work, that's the most you could ever make. That's being a loan officer. I once did 30 loans in one month. I made a lot of money, but I came to realize that was the most money I could ever make and I could not do that every month or I would be pulling my hair out. Then, it came to me. Let's say I pay someone $90 to learn how to dig that ditch for me. Then I would make $110 that day, because I would have their ditch and mine, too. Let's say I teach 10 people to dig ditches and show them how to each teach 10 people to dig ditches. Then I would have 100 people digging ditches ($1,000/day), and I wouldn't even have to teach people myself anymore. I could let them do it. In effect, I would be in two places at once, but not have to be anywhere at all. Carteret is one of those rare companies where you could literally make $1 million a year. There are not too many jobs out there like that. Not everyone will and it's a rare person that does, but at least there is the opportunity. So how do you do it? Here is the plan. First, you must be the best loan officer you can. You cannot teach unless you know yourself. Then you must be willing to give of yourself and be willing to teach. First, teach them how to be the best loan officer and then teach them how to teach. The highest charity you can do for someone is to raise them up. Only then will you be rewarded for your kindness though prosperity. Will it work? I don't know, but it happened to me and I am not any smarter, nicer or better looking then you are. Eric Weinstein is founder and president of Carteret Mortgage. He may be reached by phone at (703) 802-8000 or by fax at (703) 802-8001.
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