The Evolution of Team Structure in Mortgage Business With Spencer Stott

Loan Officer Team Training with Irene Duford

In this episode , I interview Spencer Stott, a seasoned Broker/Owner from Utah about the evolution of his team structure and the importance of having a fantastic reliable team in the mortgage business. Spencer shares his journey from working solo to building a successful team that allows him to enjoy more freedom and focus on relationship building. He discusses the roles within his team, the significance of training, and the mindset required for success. Our conversation emphasizes the value of investing in a team and the impact of accountability and a daily success plan to achieve business goals while having freedom to bring in more loans.

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Episode Highlights:

00:00 Introduction to Team Dynamics in Mortgage Business

02:37 Evolution of Spencer's Team Structure

04:50 The Importance of Team Roles

07:23 Transitioning Team Members for Growth

09:52 Building Relationships Through Education

12:28 Champion Mindset and Daily Routines

21:03 The Power of Handwritten Notes

21:43 Daily Success Plan: Building Relationships

22:48 The Shift to Virtual Meetings

23:14 Accountability Through Virtual Assistance

26:12 Investing in Team and Growth

27:25 The Importance of Teamwork

29:59 Overcoming Financial Fears in Hiring

32:29 Transforming Costs into Investments

34:11 Finding Freedom Through Team Support

36:14 Navigating Market Challenges

38:00 Encouragement for Loan Officers