From Lunch & Learns to 1,500+ Real Estate Agents: Gavin Ekstrom’s Growth Strategy

Host 00:00

People get in this industry, I'm like, oh boy, I hope you're ready for this to take your soul.

Host1 00:03

You teach them things that maybe even their coaches and brokers and mentors aren't teaching them.

Host 00:08

What I'm finding is that 70% of the client base is not living in their ideal home.

Host1 00:13

Do it in such a big group setting instead of just going and talking to the people that you want to do business.

Host 00:18

They think because they're locked into a two and a half percent rate, they're done. They're never gonna buy.

Host1 00:22

It's hard to walk away from a relationship where somebody is doing so much to earn. You want my playbook, you can get it. What's up, everybody? Grant wise. Welcome back to the Partner Profit Podcast. I am pumped for my guest today. Got the one and only, Mr. Gavin Extremon. What's up, Gavin? Thanks for being here today, brother.

Host 00:41

Honored, honor, honor to be here and uh watch the podcast. I'm a big fan of yours. You've helped me so much in my career. And so when the opportunity arose that I could give back to you and your audience, it was just uh a delight for me. And so I'm honored to be here and thank you so much.

Host1 00:57

I very much appreciate that. Humbled, humbled, humbled for sure.

Host 01:00

For the people that are listening to this, man, give us give us the backstory. Yeah, so I've got to start. I've got six wonderful children from the age of 26 down to seven. There they are, the light of my life. They're what uh gets me out of bed in the morning. And uh I got into this wonderful career of selling mortgages in 1993. And so at the right age of 19, I said right age, not ripe age, because right age, because I did not know any better. And uh when people get in this industry, I'm like, oh boy, I hope you're ready for this to take your soul because it truly does. What we what we get to do and get paid is absolutely just phenomenal. And the relationships and the people that we get to meet and the influence that we get to have, it's like it's unbelievable because real estate still is the number one vehicle to creating wealth. And so not only have I created a lot of millionaires that have come on this journey with me, but by working alongside me, but also the people that we get to lend to. And so, in doing this since 1993, I still very passionate about it. I still originate a little bit different than most. I also run a branch and I run a region. People are like, it's crazy. You do all of that. And the biggest question I get often now, Grant, is why do you still originate? I've come to terms with it. It's ego. I simply originate because of my ego. I got some of the greats behind me with Kobe and Jordan. And one thing I always study is professional athletes because the mindset that they have to be great. And the thing that they say they miss the most when they retire from basketball or whatever professional sport, they miss the locker room. They miss the the being one of the guys or it one of the gals, depending on the sport, right? I don't want to give up that seat in the locker room. And so as long as I'm still originating, I can speak from current tense, not I used to do. Yeah, I can say I still do. And so for me, that just drives that passion. And one day I'll hang it up, but I'm not done yet. I'm still having too much fun. And what I've learned is do what you love. And so I don't sit down and do consults the way that some traditional loan officers do. I've built a team and a business that doesn't orbit around me, it orbits around everybody else. And, you know, how I how I learned that is I was sitting in a leadership conference, and this gentleman walked up and I was dressed in a suit, and he walked up to me and he said, You know, uh, you're dressed really nice. What do you do for a living? And so I mentally thought, well, I'm gonna mess with this guy a little bit. And I said, uh, I sell money. And he took literally took two steps back and looked at me and he said, What kind of money? And I said, leveraged by real estate. And then he stepped into me and goes, You're a mortgage lender. I said, You're really smart. And he goes, I'm probably one of the biggest leaders in this room. And I thought to myself, okay, well, what do you do for a living? And he said, I'm a conductor. And so I always say what's on my mind. And so I thought, well, like a train conductor. And he said, No, like an orchestra conductor. I said, Are you even necessary? And he goes, Young man, by the flip of my baton, I can make the most beautiful sound come out of an instrument that you may not know how to play or even pronounce. And he handed me his card and uh I looked at it and it said, Brendan Zimmer, Boston Philharmonic. Well, I left the leadership conference because I was in a at a buffet and I ran up to my room and I Googled him. And he started the Boston Philharmonic in like 1975. I was watching a master class and his name popped up. He was teaching a class on leadership.

Host1 04:27

Wow.

Host 04:27

And then I Googled him again, net worth. His net worth at that time was like uh uh 82 million dollars. But I didn't know what he was teaching me until later in life. And what he taught me is I don't have to know how to do everything in my business. What I need to know is what I need to deliver is the roles and responsibilities of those individuals, so that by the flick of my baton, the most beautiful experience can come from the process of getting a home loan, from the process of originating a transaction. And it doesn't have to be about me, it's truly about everybody. And so that's that's what I ran with. And in any business I look at, it's like, how can I be the conductor? I don't, it doesn't have to be all about me.

Host1 05:09

I love it, man. That's so good. It's so good. You have a very unique way that you build relationships. Obviously, getting to work with you for a while, I get the inside scoop, I get an inside look at what all you guys do, and I think it's just absolutely amazing. It's obviously helped you build some incredible companies. So, can you kind of unpack that for us? You know, how do you go about building relationships in this industry so that you can build really big businesses? You have such a unique events model, and I'd love if you could kind of unpack it for everybody.

Host 05:35

Yeah, so one thing you taught me is you know, simple, simple is scalable, right? And simple solves for the complex. That was you, right? So I take that and I've learned to be a one-to-many rather than a one-on-one. And through the one-to-many, then I can start building deeper, more refined relationships. And so how I've done that, I used to do lunch and learns, and a lunch and learn to me with real estate agents in the room was like 12 people. What I thought was, well, how can I do a lunch and learn and have even more people come in to this lunch and learn? And so I've done it through events. I do about six events a month teaching on a specific topic that helps the agents grow their business. Not a simple topic of let's just say products and programs, but let me teach them how to have a proper buyer's presentation, a proper seller's presentation. Let me teach them how to overcome objections when dealing with a buyer or a seller, right? And now let me teach them how to win more listings, get them sold in a shorter period of time. Now I know what you're saying, like you're a loan officer, correct. But in today's environment, there's so much information out there and there's opportunities to interview top producing agents. Like you were talking, hey, I heard about a company, uh agent group out of Tennessee. They have an arm now in Denver, Colorado, and now you're their lender here in Denver, Colorado, right? And so it's it's it's really like building that brand through marketing, which you've taught me, which you know, the definition of marketing, right audience, right time, right? And so it's it's delivering that to multiple agents at one time and teaching them what their managing broker, or that somebody else isn't teaching them or what they're not going to learn on their own. And so through this, I've been able to deepen relationships, increase profitability, and really be somebody that they lean on for business growth and understanding that my team is built to take care of their client growth. And so through that, I've now working with some of the biggest uh names, not in just in Colorado, but just in the industry in general, and uh having just a lot of fun doing what I really love to do.

Host1 07:52

You said a couple of things there, and I want to unpack both of them. I'm gonna come back to the increased profitability. What I can't help but imagine is that you create an enormous amount of trust between you and the real estate agent when you take them out, put them in an event setting, and you teach them things that maybe even their coaches and brokers and and mentors aren't teaching them. Can you kind of walk us through?

Host 08:14

Yeah. So what I look for is if I was a real estate agent, what is the one thing that I can teach them that month, or sometimes I go for two months that's going to help them grow their business? You know, no one likes to make cold calls, but very few of us, I enjoy it, right? But getting them to understand that they don't just have to make cold calls to earn business, they have to even know what the right thing is to say. Like let's get let me give you an example. Right now, a lot of real estate agents don't realize that 70% of their client base is not living in their ideal home. But instead of asking the right question, they simply call and say, Hi, Grant, it's Gavin over at Remax. Hey, listen, would you like to buy or sell today? That's an immediate no. But if I say, hey, Grant, I've been surveying a lot of my past clients, and what I'm finding is that 70% of the client base is not living in their ideal home. Their home, it doesn't fit their needs anymore. Or they bought between 2020 and 2022, they got the house they got. They didn't get the house they wanted. See, they made multiple offers, and then finally, by the time they were about ready to give up, they got their offer accepted. And so they said, This is the hell with it. I want that low interest rate. Let's let's buy that house. And now that time has passed, they're sitting in that home and going, This isn't the right kitchen that we really wanted. We wanted a master suite, we settled for a master bed, or we settled for just a typical bedroom. And so when I'm calling my clients, I'm finding that they're not living in the their ideal home. So I have to ask you, are you living in your ideal home? Meaning for the next three to five years, this home is going to fit your needs. And 70% of clients are saying that they're not. So if an agent used that transformational vocabulary when calling a client, their volume, their production will increase. 70% of agents didn't close a single transaction in 24 and in 25. And I feel like it's one thing the information gap. They think because they're locked into a two and a half percent rate, they're done. They're never gonna buy. But what's happened in America is we've seen this their debt increase because their mortgage is so low, and so now they're living in some cases above above their means. And so what we can show them by just asking a few simple questions of how we can get rid of that debt, take all the equity out of their house, and really go buy that ideal home in today's market where it's the best time to buy because sellers are willing to negotiate. I tell clients, sellers are willing to pay you to buy their home. I don't use the C-word concessions. I literally say sellers are willing to pay you to buy their home through concessions. See, we can negotiate with your agent's strong negotiation skills, we can negotiate them to buy down the interest rate to mirror that of 2021 and possibly you know 2020 and 2021. And so when having that type of vocabulary and communication with them, we're bridging that gap.

Host1 11:10

Yeah.

Host 11:11

And so for us, when we're teaching it this way and we're doing live calls and we're showing them and we're role-playing and scripting, they sit there and say, excuse my language, this shit works. Right. So we're seeing more and more agents saying, I use that script, it worked. I use that, it worked. And so now what we've done through these events is we've built this fan club where we started with these events and we had, you know, 10 people, 15 people, now we've got 30, 40, and now we're building a strategy to go to 50 to 100 people rather than going to a restaurant and doing this event, we're going to hotels to do these events.

Host1 11:47

That's amazing. That pulls me into the profitability question because you said this helps you increase profitability. And some people listen to this might think, well, wait a second, you're hosting all these events, it probably costs a lot of money. How is it increasing your profitability? Can you kind of unpack that?

Host 11:59

Yeah, so we do these events. Our average event costs between 2,500 and 3,000. And I know you're thinking, oh my gosh, that's a lot. Well, we can get sponsorships. You can get your title company, you can get your local insurance HOI company to come and sponsor. We've even had mortgage insurance companies and our appraisal management company sponsor, right? Because it's relationship. They want more of my business, so they're they're helping sponsor what I'm doing. But then no other lender is teaching this type of content to them. Why? Because most lenders think they can't be a subject matter expert in something that they don't know. They feel like they can't be a subject matter expert in something they don't know and it's crossing the line. What I'm saying is I'm bringing more value to you in a way that no other lender is going to. Yes, we can do all the loans. My production and my reviews online speak for itself. My reputation speaks for itself. So they know they we I already do that really well. This is just the next level of thinking for them. And so through this, most agents give three names. I even talk about that. Just give one, mine. And if you have to give three names, I've got three for them. And I tell them, write this down. Gavin, Wade, Extram. There's your three names. And they laugh and they have fun with it. But but through this, they really see that I'm adding value. And so I tell them, with me, you'll make more money in less time. And what is your and what do you want to put in place there? Because I'm going to give you the freedom to go develop whatever that and is.

Host1 13:34

It's hard to walk away from a relationship where somebody is doing so much to earn the trust, earn the relationship. You know, it's no wonder you guys are so successful at what you do. I think, you know, sitting here kind of reflecting on this is like some people may be sitting listening to this thinking, like, isn't it just easier to call the agent and and you know, just take him to Starbucks or like, you know, just go have the one-on-ones. Like, why do it in such a big group setting instead of just going and talking to the people that you want to do business with?

Host 14:04

Yeah. So think about this. I'm I want to hit some big numbers, right? And uh I want to get back to doing 234 million and I can do it. I took my foot off the gas and lost direction a little bit, like we all do. And so when I look at okay, a coffee appointment, it takes me about an hour. And then we walk out of there and we hope that we we're gonna get their next transaction. When I spend an hour and a half and I have their undivided attention, I tell them up front, this is an interview. You're interviewing me. You're looking at me and saying, with the things that the way that I speak, the way that I show up, the way that I tell you about my business weaved in through this event, can I trust him and his team with my commission? And so through this, when I've got 20, 30 average last year was 30, we spoke to over 1,500 agents just through our events. That's not talking about our coffee appointments, right? I couldn't do 125 face-to-face one-on-ones and have the same impact. Because when I'm sitting in front of them, I gotta sell them more on me and my business than on how I can really add value to them. And even if I'm sitting there showing them, you know, how I do it in an event, it's much broader. And so now I'm more well known. It goes back to marketing, right? Right message, right mark, right person, right time. Yeah, there we go.

Host1 15:27

Right message, right person, right time.

Host 15:29

Yeah. So that's that's marketing. And so what I'm doing is marketing to a broader audience. And I think that's the that's what loan officers have to understand. They're the brand. Yep. Right? Samsung and Apple, both great phones. Why is Apple so much better? Marketing. And so I'm just taking I'm just taking the marketing to the next level as a loan officer.

Host1 15:53

Do you find that you tend to attract the types of real estate agents to those events that you actually want to work with? Like I think maybe somebody listens like, okay, but what kind of people am I going to get to walk into the door? Is it all people that don't have any business to give me and they're just trying to learn? Or is it people that are actually very productive and are there to to kind of level up? What kind of what kind of agent do you guys tend to attract?

Host 16:12

Yeah, so we filter, right? And so we'll filter through. If I'm doing a an event at let's say Ocean Prime where it's $39 a plate, they got to do 10 million or more in production. If I'm doing it at a local Mexican restaurant and the the plate cost is maybe 10 bucks, yeah, I'm a little bit more open. Right. Who gets in the door?

Host1 16:31

Do you do you guys just pick up the phone and call them? Or do you yeah?

Host 16:34

Yeah. So when the registrant comes in, we we look at their statistics, and if their stats don't meet that event, we move them to another one. We just say, hey, unfortunately, that event got sold out. We're gonna move you to this event. Okay. And it's okay. We still see profitability and production come from those other events. But then here's what's here's what happens at those other events when we have a higher producing agent in there. Oh, you work with Gavin, you work with Gavin.

Host1 16:59

Yeah.

Host 16:59

Ah, everybody wants to be in the room. And so what we're doing is putting a room of top producers together, and consistency creates credibility and confidence, right? And so I'm very confident because I've done this enough time. Social media, email, and marketing builds familiarity. So an agent that I may not know walks in and they already feel like they know me. Right? And here's what's happening in our industry people are interviewing you before they even call you or talk to you. Why? They're looking at your social, they're seeing, they're they're looking at you, going, gosh, could I work with this guy? Does this guy live the way that he says he lives off social and in person? And so when they come and meet me, they're like, You're the same dude. Yeah, there's no difference. I'm the same guy at home. There's no difference, right? And so that's the perception I want to push out there and make it reality.

Host1 17:53

I love it, man. This is an awesome conversation, man. I want to respect your time. I've gotten a ton of value out of this today. I know if anybody listening to this, anybody that's listening to this has as well. I always like to ask this as a last question is how can we and the listeners of the podcast, how can we partner with you? How can we help you grow? What's important to you right now?

Host 18:10

Yeah, so I want to say this too. The events are easy. It's the follow-up after. The events are fun. You better have a solid follow-up plan. And so here's what I'm always willing to give. I'm I'm probably the most giving, transparent loan officer uh in the industry. If anything that I've talked to you about, you want my playbook, you can get it. Just follow me on social, DM me, say hey, I urge you on Grant's podcast, send me your playbook, and I'll send it to you. Because this industry's done so much for me, my family, uh, my mom, uh, because I've been able to support her for years and buy her her house and all these great things. And I'm like, I gotta give this back, right? I want to give it back to the industry. And so everything that I do is in a playbook and I and I'm an open book. So just follow me on social at Gavin Xtrom E-K-S-T-R-O-M, and uh, let's start a conversation and let me see how I can help you grow.

Host1 19:03

I love it, man. We'll make sure that we link up all the ways people are gonna connect with you. And if you're listening to this, I've seen the playbook. I encourage you to go download it. It is absolutely very valuable. It will help you grow 100%, man. Thank you so much. I can't tell you how much I appreciate you. It's always such a pleasure just to get to sit and talk to you. I obviously I know we've worked together for extended periods of time, but it was good to see you again and uh so good to talk to you again. All right. Thanks, buddy. All right, and thank you guys for continuing to listen to the Partner in Profit Podcast. Another epic conversation. I'll see you on the next one. Peace.