Interview with Monica Jones: Building Realtor Relationships – Hosted by Ian Moore
Top-producing MLO Monica Jones shares her 20 years of invaluable knowledge in the mortgage industry in this detailed interview featured in our live training webinars. Her expertise in adapting to an ever-changing market is a beacon of wisdom. Watch, listen, and take notes because she provides excellent guidance on adapting to and preparing for an ever-changing market. This is a unique opportunity to learn from a seasoned professional.
Prefer to Read? Check Out the Transcript Below
Ian: Tell us a little about yourself.
Monica: My name is Monica Jones, and I’m based in Venice, California. The past few years have served me a humble pie. I built my business around first-time homebuyers; as many of you know, that market has been hit hard. With interest rates rising quickly, affordability became a significant challenge. I’m now rebuilding my business—planting seeds, growing relationships, and looking forward to the future.
Ian: What changes did you notice in the market, and how did you adapt?
Monica: I track my numbers meticulously. Back in October 2021, I started noticing a shift. Every day, we look at our leads and conversion rates, from lead to application to pre-approval and finally to a closed deal. Around that time, I saw our lead-to-deal ratio start to drop. While our lead-to-application and pre-approval rates were still strong, fewer deals closed. It became clear that we’d need more leads to close the same number of deals. So, we adjusted our strategy accordingly.
Ian: How much volume did you close over the last year?
Monica: In the last 12 months, we’ve closed around $50 million. That’s down from where I want to be, but this market has forced me to become faster, stronger, and better overall. My team is smaller, but we’ve become more efficient and tight-knit. I’ve had to be bolder and more creative to stay competitive. As they say, “Smooth seas never made a skilled sailor.” I’m looking at this rough patch as an opportunity to sharpen my skills.
Ian: Where do most of your leads come from?
Monica: The majority of our leads come from realtors. Building strong relationships with them has been a focus for many years.
Ian: What do you do that sets you apart from the competition? What makes realtors want to work with you?
Monica: The only real differentiator is our speed and service. We all have the same products and rates, so the question is: How quickly can we move? How can we give our clients a competitive edge? For example, around 30% of all sales in the Bay Area are cash deals, so my low-down-payment borrowers need to compete like cash buyers. Solving that problem and giving my clients an edge has been key to our success.
Ian: How exactly do you “WOW” your clients and realtors?
Monica: I’m part of a coaching program called The Core, the top lender and realtor coaching platform. As a student and coach, I have access to realtor materials that I teach to my team, adding the WOW factor. Additionally, communication is crucial. Realtors often complain about a lack of updates from lenders, so we focus on being proactive and keeping them updated every step.
Ian: Has Jungo helped you close the communication gap?
Monica: Absolutely. As my business grew, staying on top of communication became harder. That’s where Jungo comes in—it’s like adding another person to the team. It helps us stay organized and keep communication flowing. Thanks to Jungo, I’ve received feedback from agents about how much they appreciate our responsiveness.
Ian: Would you say communication is a common mistake loan officers make?
Monica: Yes, the lack of communication is a big issue. If I compete against another loan officer, I highlight an agent’s time and effort in chasing down updates from other loan officers. My rates and programs are the same as everyone else’s, but my communication saves realtors time and helps them focus on their high-ROI activities. That’s why they work with me.
Ian: Do you have any stories that show how communication has helped you?
Monica: I recently closed a deal where the lead came from an agent in 2017! Thanks to Jungo, the client had received our materials over the years, and they finally reached out when they were ready. The agent was shocked when I told him it was a lead he sent five years ago. It’s a perfect example of how maintaining communication can convert long-term leads.
Ian: How many people are on your team?
Monica: We are a small team of three. Despite our size, we run very efficiently.
Ian: How would you adjust your strategy as interest rates lower?
Monica: My focus remains on first-time homebuyers, but I also prioritize my past clients when refinancing opportunities arise. I understand the value of time and efficiency, which is why I rely on technology to reach more people in less time.
Ian: How are you using technology to take advantage of changing interest rates?
Monica: We use Jungo SMS to send text blasts to past clients. Even if someone has a decent rate, their financial situation may have changed. One simple text message can bring in a deal. Last week, we blasted a text and picked up a deal within the same day. It took us 10 minutes to set up, and it’s incredibly efficient.
Ian: What applications do you use on Jungo to enhance communication?
Monica: I use Phone Burner to mass-dial my realtor database and past clients and leads. It sends a notification if the individual picks up and immediately starts a live conversation. If it sends to voicemail, it automatically sends a pre-recorded message to their inbox.Â
Ian: What automations do you use on Jungo?
Monica: We use automation for follow-ups, including video messages, emails, and physical cards sent to clients. Once a client is pre-approved, an automatic message is sent to my team to remind the mailing of a thank-you card. It’s about creating an outstanding client experience without manually handling every step.
Ian: What software are you using to send videos to clients?
Monica: I use Vidyard.
Ian: Any advice on how to best use Jungo?
Monica: Jungo can do anything you want, a blessing and a curse. My first recommendation is to hire someone to build it for you. Stick to what you’re good at—don’t go down the rabbit hole. Jungo doesn’t replace face-to-face or phone calls but handles everything else beautifully.
Explore how Monica Jones uses Jungo today with a free demo.Â
