Bonus: Sales Mastery w/ Todd Duncan

As a co-founder of the Industry Syndicate podcast network, I'm excited to drop this special bonus interview that Phil Treadwell and I recently did with THE Todd Duncan.

The Industry Syndicate has teamed up with Todd Duncan, the creator of Sales Mastery, ahead of the first ever virtual Sales Mastery event on Sept 16-18, 2020.

As you'll hear, Todd shares some incredible wisdom about how real estate agents and loan officers should structure their business for *profitability*, not just meaningless numbers. Todd also talks about how Sales Mastery has had over 100,000 attendees over the years, and why it's had such a huge positive impact on the Realtors and Loan Officers that attended.

CLICK HERE to get discounted tickets to Sales Mastery, a discount only available through the Industry Syndicate.

Discounted Sales Mastery tickets 
>>> http://www.industrysyndicate.com/salesmastery <<<

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Transcript

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SPEAKER_02 0:06

Hey, what's up, everybody? This is Phil Trudwell, and this is Dustin Brohm. And uh we are the co-founders of Industry Syndicate Podcast Network. Uh, I'm super excited about this uh podcast episode that you guys are about to hear because Dustin and I just got back from Atlanta, Georgia, where we were doing some planning sessions and some collaborating with the one and only Todd Duncan, CEO of High Trust, uh, the mastermind behind Sales Mastery. And uh we're super excited because Industry Syndicate's going to be doing some partnerships with Sales Mastery, uh, some really cool stuff for this event that's coming up uh September 16th through the 18th.

SPEAKER_01 0:42

Guys, we've seen behind the scenes of what they're what's in store, what kind of sessions are planned, who is gonna be on those sessions. This is such an amazing all-star lineup. And I'm telling you, Sales Mastery is gonna be probably the event of the year for real estate and mortgage professionals. We're gonna have Todd Duncan on in just a second, and you'll hear exactly um you know why you should be listening to him and Sales Mastery. I learned some stuff just in this little interview uh when we sat down with him. And so if Sales Mastery is anything like what we just heard from him, I'm gonna be there. So any of you guys, look in the show notes. Uh, because you're an industry syndicate listener, you're listening to one of the shows on the industry syndicate podcast network. We have a special discount that you cannot get anywhere else on Sales Mastery tickets. So look in the show notes for the link, or you can go to industry syndicate.com slash salesmastery and get discounted tickets. Again, you can't find them anywhere else. You can only get them from the industry syndicate for listening to one of our shows.

SPEAKER_02 1:45

Totally agree. Todd is a legend in the mortgage industry. He's also done a lot in the real estate industry. Uh, this is an event that's not going to be like any other, and I won't steal his thunder because he talks about a few things in this episode that are going to be absolutely incredible. Uh, so definitely take a listen and uh we will talk to you guys soon.

SPEAKER_01 2:02

We are just here with Todd Duncan. We're doing some preparation and strategy about his sales mastery event that's coming up here in mid-September, the 16th through the 18th. And wanted to introduce you guys to Todd Duncan. He is an absolute titan in our industry. And uh, for anyone who does not know Todd or does not know sales mastery, um, Phil, why don't you bring them up to speed on why they should care and who Todd is and what we're doing?

SPEAKER_02 2:29

Man, I appreciate that. So Todd has become uh a fast friend. I mean, he he's a titan in the industry. Anybody in the mortgage business uh that doesn't know who Todd Duncan is and his companies is has been living under a rock for sure. Um, you know, he he's a New York Times best-selling author. I think he's got multiple New York Times best-selling books. He's been in the business since 1980, almost 40 years in the industry, uh, over 100,000 attendees in the last 28 years in sales mastery, which is you know the longest-running event uh in the mortgage business. Uh, you know, he was a top 1% originator. You know, he founded his first coaching and consulting company in '94. Uh, he's had over 5 million certified students, you know, take mortgage industry courses through his company. You know, he has a heart to help people win and a desire to help people succeed, uh, not just in business, but in life in general. And I'm super excited to be having this conversation because we're coming up just in a few weeks on this year's sales mastery. And so uh I'm so excited, Todd, that you're joining us to talk about this incredible event.

SPEAKER_00 3:32

Thank you so much for your partnership. You guys are um setting the stage for or you know, what content looks like and adding value to you know thousands and thousands and thousands of people every day through your your network industry syndicate. It's a joy to call you guys friends and uh excited to have a little bit of a combo with you.

SPEAKER_01 3:50

Todd, um, you know, I come from the real estate side of the industry, and you know, up until maybe a year and a half ago or so, um I'd heard your name, but I wasn't too familiar with your content and what you teach and you know how you do things. Although I it's funny, I'm I'm sitting here with the I have the $6,000 egg that you and your wife wrote that was gifted to me by a loan officer, actually. And that's when I was like, who's this Todd Duncan guy? Um, but it's been really cool uh to get to know you and and to you know be part of uh the sales mastery event this year for real estate agents that may not know the name. Guys, Todd is the real deal. Even though he's mostly known on the mortgage side, he shouldn't be. Uh real estate agents have so much to gain from him and from his courses, from his from his events, from his teachings, and just all the amazing content he does. Um, I cannot recommend Todd at any in any higher. Um, so if this is the first time you're hearing about Todd, pay attention. It's not gonna be the last time. So, Todd, we're doing some cool stuff together with Sales Mastery. Um, you know, there's there's some really, really powerful segments and topics and uh and parts to Sales Mastery this year, which is virtual, which I'll let you you speak about because I'm sure that that's been fun. Um But anyone who's like really another virtual, another virtual thing, like why should why should they be attending this one? Why do they want to attend the first virtual sales mastery?

SPEAKER_00 5:18

Well, I I think Dustin, the the first reason is um to adequately and substantially prepare for the future. And I think that uh that everybody that is anybody in real estate lending or in business is always creating the next step. You know, where are we going next? And Sales Mastery has always the vision behind mastery was to bring leading edge ideas to a marketplace towards the end of any given year to set up the business plan and the operating system for the next year. So when I invented Sales Mastery and we held our first event in 1992, we had 398 people there, and now we have over 100,000 attend. They attend because it sets them up for success in the days to come and the years to come. And I have a passion. I wake up every day as a guy that uh helped almost 6,000 families finance real estate. I helped uh 13 essential realtors make millions of dollars by bringing my business systems to them as an as a loan originator. And, you know, I answered a calling when I was uh when I was in my my early 30s, 33, to what do I want to do with my life? And uh and and I really wanted to help an industry do what I had learned to do. And uh, and so I started my company with one single purpose to help loan originators and lenders greatly, the brand of the real estate agents that they called partners. And we have been doing that now since 1992. And I gotta tell you something. I I think the number is close to 50 million homeowners have been impacted by the high trust message through real estate agents and through lenders. And uh man, I wake up every day and I go, you know, who's next? Who who can we just at the right time and the right place line up and give ideas to that will change the trajectory of their life? I'll give you one example. I talked to a realtor two days ago who has been following High Trust for five years. When he met us, he was closing $8 million in sales in that year. He went through High Trust. We started coaching him. In three years, he was at $40 million in volume, and he had cut his client database in half. He liked that so much that he wanted to reduce his gross close commission expense uh PL by $300,000 and realign his volume. So he brought his volume back down, but cut his database from 2,800 people to 110 people, and now is having the time of his life, knocking out $30 million a year in real estate sales. He's got a life, he's got profitability, he's got a lender that brings him buyers and sellers on a regular basis and does it in a way that they can team up and be this unstoppable force in their in their marketplace. So that's who we are. I got my broker's license when I was 23 years old. I figured if I was gonna work with real estate agents, I wanted to uh understand real estate. I wanted uh to be able to tell them that that I was a broker too, and I wanted to be able to be involved intellectually in decisions to help them list, buy, and sell real estate. So I started studying real estate, started studying lending, and uh I just made it a habit to bring ideas to realtors to help them win. And so all I'm doing today is helping lenders bring ideas to realtors to help them win. And uh it's such a gratifying business. And so that's kind of that's kind of the why behind who we are and what we do. And uh uh pretty exciting, man. And let me just say this, Dustin, I appreciate the tee up. Um I think I think the end result of high trust for any agent and for any lender is without question, you're gonna make more money, you're gonna work less hours, and you're gonna have less stress. And if anybody says, what's your brand promise? I promise you you're gonna make more money and work less hours and have less stress. And most people uh resonate with that.

SPEAKER_02 9:17

Thought it's exciting. You know, your mission from the very beginning has been to help people and to help them build their business. And I know that that's the spirit of Dustin's podcast, the spirit of my podcast, and the spirit of all the shows that we have included in the industry syndicate. And that's why this has been a really cool partnership to come alongside Sales Mastery and really say, hey guys, regardless of what section of the industry that you're in, this is an event that can add value to you. This is an event, as you said, that you can use your time more effectively and efficiently to make more money with less hours. So I want to give a little bit of insight to our audiences here. What type of topics and what are some of the sessions that people can look forward to uh coming into Sales Master here in the next few weeks?

SPEAKER_00 10:02

So, you know, the beautiful thing, Phil, about uh where we find ourselves right now is we're an event company that that did not have a choice other than to innovate. And so the idea behind Dustin's question on why virtual and and why are we doing it this way this year, we're doing it this way this year because it is the best way to transform the life of anybody that's interested in going to the next level. And the odd irony of converting the event to a live global digital streaming event. So it's got parts live and it's got parts streamed, and all of that is we can bring it to you and save you three or four thousand dollars in airfare and hotel and expense, and you have a front row seat and you get to go through it and learn and understand it. So, what are what are the topics? The topics resonate this year around preparation, innovation, and adaptation. And the whole idea behind that is how do lenders, bankers, real estate agents, how do they remain agile? How do they compete in a changing environment which requires innovation? How do they do things faster and better? And how do they stop spending money that shouldn't be spent and start investing in brand breakthroughs so that they can spin up their volume without spinning up their expense? So we've got a real estate mastery panel that you guys have helped put together that was just exceptional. And every one of those personalities that we showcased has a story on how to scale and scale well. We've got a um, we've got an amazing panel of experts on what does the modern real estate experience and what does the modern mortgage experience look like? And this is a blend of how the best taking trust, which is the absolute critical disruptor in the marketplace, and marrying it up with technology and touch. And one of the things that's interesting is we have a marketing panel, and one of the things we're gonna prove is about 85% of realtors and 85% of lenders' marketing doesn't work. It's it's not, it's so complicated and there's so much digital noise that nothing's actually getting through. So we're gonna have a session with a gentleman that is an expert in branding, and his session is entitled The Perfect Intro. And the perfect intro is about how do you make an impact in a prospect's life in 15 seconds? And if you think about that, you think about if you can't convert somebody in 15 seconds, shame on you. And it's all about it's not what you do, it's not your follow-up, it's not how many words you use or say. It's can you capture them in 15 seconds in the new world? And so we've got stuff like that going on. We've got um, I just finished uh um kind of confirming a direction with a CEO that's gonna be with us at Mastery. Um amazing, amazing story of how to run a brand and grow a brand, even in the midst of challenge and crisis. And I think one of the things, Phil, that's really important is we're gonna show you the top five trends of the next 36 months in real estate and lending. And man, to know what those trends are, to be ahead of the curve and not get surprised when they happen, to me is gonna be a great gift. There's 42 presentations in three days. And the beautiful thing is we're gonna provide through the industry syndicate to all of the hosts and their listeners 30 days after the live event is over to use that material so that we can increase implementation success by giving you an all-access pass. You can come back, come back, come back, come back, come back for 30 days. It's gonna be awesome.

SPEAKER_01 13:56

That is awesome. And so, you know, we're all busy, we all have stuff to do, and and that's sometimes that's an issue with some virtual events is well, I have a listing presentation that day, or oh, I have a consultation with some buyers. Well, that's the beauty of the virtual event. Like if it's a live event, you miss it, that sucks. Virtual event, you've got access for 30 days, so that's cool. I want to circle back to something that you mentioned a minute ago that I think is huge. And so so much of the content and the conferences and the the talks and the podcasts in our industry focuses on uh on just it's one-dimensional, it's how to get more business. You mentioned that you were able to focus on profitability and revenue and business, and somebody actually you helped them to scale uh to cut their database, doing something that I don't I've never heard anyone else mention. Everyone's just how to grow your database, how to just make it bigger and bigger. They cut their database and focused on certain people, and they're now they have a more profitable business. That's what it's all about, is you know, if we're all honest, that's why we're here is to make a profit and to increase that profit. We we want revenue, we want profit. And you're actually talking about that. You've actually done it in your own businesses, you've done it in your own personal life, and and so that's refreshing to me, Todd. And I don't think that that's focused on nearly enough. And every podcast episode I've had, with there's only been two or three of them where someone's actually spoken about, hey, let's let's actually think about profitability here, not just like production. Those are some of the the best uh received episodes because people are like, wait, I I don't hear that every day. So can you talk more about about that? Um, because that's just that's just different than you get everywhere else, but it's it's huge.

SPEAKER_00 15:48

Yeah, yeah. So let me just give you a couple of quick examples, Dustin, because I think um I think that the most important exchange rate that any real estate professional and any lending professional get their head around is the exchange rate between life blood and the hours of life I've been gifted and the work blood and the number of hours I choose to invest in my work, and what is that exchange rate? What does an hour work produce in that financial return? And until you get your head around that, I promise you, you're gonna work too many hours and you're gonna call busyness production and you're not gonna innovate. You're not gonna innovate and you're not gonna delegate and you're not gonna optimize. And what ends up happening is your actual hourly rate would surprise you. In America, the average hourly rate for a real estate agent in America is $32 an hour. Okay, you look at that and you go, why can't I just make $32 a minute? Or why can't I make $320 an hour? Or why could I not become good enough to make $3,200 an hour? What, what, what, what, what, what gives here, right? And so we teach people to understand that you should challenge everything. You should innovate around everything. And I'll give you an idea. You know, we're in a a little bit of uh uncertainty. We got COVID, we got, you know, we got digital stuff that is helping and and virtual showings that that that are aiding. But let me use a story that would be more relevant from just 12 months ago to make a point because this is this is this is like what the thinking is. So like I I I asked people, I said, who came up with the idea that an open house should be three hours long? You know, I mean, who came up with that? And and when was the last time a three-hour open house was really questioned on whether or not it was efficient or not? And people look at me like I'm speaking a foreign language. And I said, you know, the way that high trust works and the way that productivity works is we're not gonna do one open house over three hours. We're gonna do three open houses that last an hour each. And people go, what? And I said, think about it. If they can only come by for an hour and you have like six times the cars parked on the street, and you got people running into each other in hallways, and you create a buying frenzy around a one-hour open house, would what would be more effective to have three of those in a row and then double triple the economics? Or would it be just let's spend three hours and sit on a stool in the kitchen and wait for people to come by? That's the mindset behind what we teach. And you gotta challenge that. You really got to challenge that. It's like, it's like, um, why don't we ask a question? Like, if I have sold 300 homes, um, what percentage of those 300 have access to 300 referrals? Why don't we just reverse engineer how we build our business? And what I did is I started realizing that, you know, um, why show 10 homes to make a sale when there's only two of the 10 homes that are really going to resonate with a potential purchaser? And why don't I deep dive and understand that 30 homes, there might be three or four that really are the needle movers. Why don't I do just a different job up front and go deep with that? Or why market to all 300 people in my database the same way? Why don't I market to the 30, the 10% of the database that have 10 times the influence? And I always tell the story that I did a loan for a doctor and um the real estate agent referred me this doctor and his wife, and it was a it was a beautiful, beautiful transaction. It closed well. They were super happy. It was a big home purchase. And the guy called me afterwards and he said, Do you mind if I refer you to my friend who's an ophthalmologist? And I said, Absolutely. I mean, who would say no? Don't refer me. So he refers me to this ophthalmologist. Um, conversion rate, by the way, on a referral like that usually is 100% and it doesn't cost a dime. That's kind of what people need to be thinking about. I'm a zero cost marketing guy. I want somebody telling somebody that I'm the best in the world, and I want that person to draft behind me and bring his or her tribe or their tribe. So I end up doing the loan for the ophthalmologist, and um, six months later, he becomes the chief medical um executive for a hospital that has 750 physicians in it. So now I am the lender for a hospital with 750 physicians and probably 2,000 nurses. And my real estate agent that gave me the guy that referred me to the ophthalmologist sold $70 million in real estate out of a hospital because of that kind of thinking. We are so far away from lead gen effectiveness in our industry. We're so far away from thinking it's not more equals more, it is less given more that creates more. That's the mindset. And man, I don't know about anybody out there that that would defy to challenge this, but what if you could go to a hundred percent referral-based business, eliminate your marketing cost, um, triple your conversion rate, and reduce your work week by 20 hours? I mean, who wouldn't sign up for that? That's what we do. That that is why there's five million people around the world that say this is the best thing that's ever happened to them.

SPEAKER_02 21:39

It's so incredible. I mean, you've given us dozens and dozens of reasons why both mortgage and real estate professionals are going to get lifts uh just through this one sales mastery event, you know, from productivity in your business to creating marketing efficiencies to business planning, you know, lead gen efficiencies. I mean, we're we're we're we're just hitting highlights here. We've not even gotten to the meat of it. So I want to ask you a challenging question here. Of all the different things we've touched, if there was just one reason that people needed to attend Sales Mastery, and you're like, hey guys, this is why you need to be there. This is the most important reason to be a part of this event. What would you tell them?

SPEAKER_00 22:20

I'm going to answer that by telling you a story. I had a prep call yesterday for a gal that's going to be on a panel at Mastery. And um, and I said, So let me ask you a question at the end of the day, why has this been the most important decision you've made? And what that decision was was she came to Mastery two years ago, and then she came to the High Trust Sales Academy. And I asked her that question. She said, Um, I closed more loans last month than I closed all last year. And so the reason why you would want to be there is what if? I mean, just what if you could do in a month what it takes a year? Or what if you could do in six months what normally takes a year? What if you could question the exchange rate between productivity and profitability? And what if you could make instead of $5,000 a week or $10,000 a week, what if you could make $5,000 a day or $10,000 a day? How would your life change? What would it be like to have a two-day work week and a five-day weekend? I mean, seriously, that's that's like breakthrough thinking, right? What would it be like to work two days a week, three days a week, and um and reclaim your life that's been marginalized because of your inefficiency and lack of leading edge proactivity and productivity? Who would not like to be done by two and go home or do something else? I think, Phil and Dustin, the world is screaming for balance. They're screaming for purpose, they're screaming for a re-legitimization of their identity. And we're busy right now. The spring buying season and the summer buying season have come together for agents. The lenders don't know what happened. I mean, four months ago, five months ago, rates started falling. They're busier than they've ever been. But it's not gonna last. And it's gonna go back, and everything reverts. And um, I mean, I I watch people, you guys, that have a bigger list of I wish I hads than the list of I'm glad I did. And and my purpose in this event is to help people avoid regret, to live life well, to enjoy the balancing act of families and friends and fun and fitness and faith and finance and all those things. And man, I wouldn't schedule a listening appointment, a showing appointment, or a loan appointment on the 16th, 17th, or 18th of September. I'd block the calendar right now and just say, I'm going. I'm coming all day long. Um, those three days are gonna help me triple, quadruple, quintuple my income in the next 30 days anyway. So I'm not gonna be interrupted. And every session flows. I mean, it's like one feeds the other, and one feeds the other, and one feeds the other. And uh, so man, let's do life well. Let's live life well. Let's let's have our best version of us show up every day. And um, I just like to apply for the job to uh be able to show you how.

SPEAKER_02 25:33

Todd, I that's that's incredible. I'm I'm just sitting here thinking of all the stuff that not only our Dustin and I, but our entire audiences and the entire community within the Morgan's and real estate industry, uh, how much they're gonna get from this event. So thank you so much, not only for you know being a leader and a trailblazer in this industry, but putting this event together so that so many people can build their business, uh, be more effective and efficient to quintuple their income as we're talking about here, because I think that's the reality of the situation. Here is this is just isn't another virtual event that you're gonna come and pick up a tip or two or a tactic or two. This is an event that you're gonna come to that's going to revolutionize your business, whether in real estate or mortgage. And so thank you for taking the time to talk about that. I'm gonna let Dustin close it out here. And we just appreciate you taking the time with us, letting us as the Industry Syndicate Podcast Network partner with you and take this journey with you. Um, just I'm just so excited about the event coming up.

SPEAKER_00 26:32

Amen. Thanks.

SPEAKER_01 26:34

Thank you, Todd. Uh this is an event that you know I'm excited to consume. I'm excited to attend myself. I'm excited to learn and, you know, really look inward at my own business and my own habits and everything as well. So, you know, even though, even though I'm, you know, lucky enough to be on a couple panels, as is Phil, I'm still gonna be attending. I'm gonna be there. And I hope that everyone listening will make the choice, and it is a choice, uh, to be there as well. So um I'm super excited for it. Todd, you've done um an amazing job preparing for this. I'm really excited for Sales Mastery September 16th through 18th.

SPEAKER_00 27:14

Thanks, guys. And I would just say parting message give yourself the gift of excellence. Just give yourself the gift of being your best. And uh, if we can help you do that, which I know our commitment is, then it's a win-win. So be blessed, guys. Thank you for letting me chime into your tribes and uh I look forward to seeing you all at Salesmastery.

SPEAKER_01 27:34

To get your discounted ticket to Sales Mastery, a discount that you cannot get anywhere else, go to industry syndicate.com slash salesmastery. The link will also be in the show notes. So whichever podcast player you're listening on, go to the show notes and click again industry syndicate.com slash salesmastery ticket. Will not find anywhere else. Be there for salesmastery September 16th to the 18th.