Find Your Why: How to Establish Your Place in the Mortgage Industry (with Fadi Sankari) – Episode 181

Broker-to-Broker

This episode is sponsored by Change Wholesale

In this week’s episode, host JP Hussey is inspired as he’s joined by Fadi Sankari, Broker Owner & President of Best Rate Mortgage.

Fadi is an entrepreneur through and through, inhibiting the ‘entrepreneurial spirit’ in everything he does. Throughout the episode, he reminisces about many failed business ventures before he entered into Wholesale mortgage, where he’s now a top 1% originator. He says he remained driven and found his success in the pursuit of satisfying the ‘why’.

Fadi breaks down his notion of the ‘why’, and how it’s essential for anyone running a business to identify as soon as they can:

“If you’re coming into the industry because you want to make a bunch of money, that’s okay. But, if that’s the only reason, then I would ask you to reconsider why you’re really doing what you’re doing. So, I focused on ‘the why’ for a long time before I made that decision. You really have to go back and ask yourself, ‘what are you doing?’ My ‘why’ is multifaceted. I’ve always had an interest in math & finance. I’ve always had an entrepreneurial kind of spirit. Again, all those failed businesses I mentioned to you. But I wanted to make a positive change. I wanted to create a business that wasn’t overcharging or taking advantage of people. You know the saying ‘the integrity of a man is what he’s doing when other people aren’t looking?’ Since day one, I started with a fair and a very competitive plan. And even though I’ve gotten busier, and we’ve become a top 1% originator, I have not changed that plan, because we haven’t had to. We don’t compromise. We charge fair rates because we’re providing excellent service. So, start with ‘the why’ and build on it. My ‘why’ is to be fair when a lot of people in this industry, unfortunately are not.”

Key Points:

2:18 – Day One Energy & Finding Your Why

12:19 – Previous Ventures & the Decision Enter Wholesale

16:58 – Strategy for Current Markets: Developing Relationships

22:02 – Warm Outreach & Building Your Network

28:43 – Finding Your Niche in the Mortgage Industry