Coffeez with Joe Shalaby - Unleashing a Business's Potential with Nancy Bayat | Coffeez for Closers with Joe Shalaby Ep. 6

Episode Date: February 16, 2024

Welcome to another energizing episode of Coffeez for Closers, The podcast where industry giants reveal how they built empires from scratch, over a coffee.🔥 Episode Highlights: 🔥In this episode, we are thrilled to feature Nancy Bayat, a distinguished figure in the finance and mortgage industry. As the co-founder of the Amerify Umbrella of Companies and a visionary behind over $4 billion in mortgage transactions, Nancy stands as a beacon of innovation and business development. Her journey is not just about numbers; it's a story of perseverance, strategic thinking, and the drive to make a significant impact in the financial world.What You'll Learn:The Nancy Bayat Formula: Discover the strategies and mindset that propelled Nancy to the forefront of the mortgage industry.Innovation in Finance: Nancy shares her insights on how innovation can transform the traditional finance and mortgage landscapes.Building a Business Empire: Learn the keys to successful business development and how to scale your operations to achieve monumental success.The Future of Mortgages: Get Nancy's expert predictions on where the industry is headed and how to stay ahead of the curve.Don’t Miss This!Join us as Nancy Bayat shares her invaluable experiences, lessons learned, and the wisdom she's gained through her impressive career. Whether you're in finance, entrepreneurship, or just passionate about business innovation, this episode is packed with actionable insights that can help you in your journey.Connect with Us:Subscribe to our channel for more episodes.Leave your thoughts and questions in the comments below. We love hearing from our listeners!Follow us on social media to stay updated on upcoming guests and episode releases.Prepare your favorite cup of coffee and get ready for a conversation that could change the way you think about business, finance, and success.Thank you for tuning in. If you found value in today's episode, please consider sharing it with someone who might benefit from Nancy's insights. Until next time, keep closing!Advertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

What's up, everybody? Welcome to Coffees for Closers, a show about visionaries, entrepreneurs, and of course, closers. Here we talk about their wins, their failures, and ultimately the story of their success. Everybody, welcome to another very special episode. We are doing it live this time with coffees for closers with our very own. Absolute success story. This is Ms. Nancy Byatt. one of the key figures, one of the key elements to the reason why EMC has established such a grand

national presence. Nancy is the co-founder of the Amerify companies over $4 billion in production over the course of her career. She is also known as the Queen B of EMC, someone who continually dominates year after year relentlessly, very, very passionate, always willing to help many others at EMC has helped many become very, very successful. And she's just a testament to success, a testament to being able to overcome tribulation and really an inspiration to many, many people here at EMC. Without further ado, I'd like to welcome Ms. Nancy Bayett. Hello. Thank you for having me. Thank you so much, Nancy. And a lot of people are actually,

we're doing this live, so a lot of people are tuning in right now just to hear from. from you directly and hear, you know, how this conversation is going to go. And, and really, they're wondering, like, what, what's Joe going to talk to Nancy about? And really, I'm not going to dial in on like, oh, how did you, you know, generate so much business? But I want to dive into your story because I think your story really resonates with people. And not only that, but it actually inspires a lot of people. And I feel like people that are listening to this podcast now, especially women, are going to get a lot out. out of this meeting.

So we're in, I love that. Exactly. And I know that's, that's like your purpose to inspire. So thank you to start for coming on the show here. Thank you. And we're going to open it up.

Now, one thing, and I know a lot of people are thinking this, but like, let's talk about, and I know you have some, you know, you hold this back in your heart and it's near and dear,

but, you know, let's talk about the success that you have as a first generation immigrant coming to America. that journey and then becoming who you are now at EMC, like what inspired you to be who you are now? What inspired you to be such a passionate, driven, hungry for success, just dominant?

I think some people are just born with it, honestly. Like everything that I do, I want to be really good at, and I want to learn really well. And I'm just like that with anything that I do, you know, like I had a personal trainer. I had a, you know, six-pack almost. So it's just, I think it's a lot to do with personality, and it's just part of my personality. It's how I am. Like, I want to be on the top.

That's just, it's just engraved in your mindset, kind of. And man, you got lean, you got ripped. No. Congrats to you. It's like, I was like, what did you do? It's not working out. You just, you got ads popping out. No, I don't.

No, I don't. But I have started working out again, trying to find the life balance because, of course, I lost it in 2021, but that was my priority. I'm very much like C-Biscuit. You know, you put on blinders and you just kind of have like this, this tunnel vision. And that's, I think, attributed a lot to my success over the years. Teno vision. So walk me through tunnel vision, like, what is tunnel vision to you? Well, it depends on my goal. But for 2021, I saw a very unique, you know, situation in our industry that only comes around so many years and I wanted to reap the benefits of it and to take advantage of it. So I worked six, seven days a week all year. So in 2020, 2021, I mean, you did

hundreds of millions of dollars. And you were ready for it. How did you scale so quickly in such a short period? I think that that's a great question. I think I was able to scale because I knew the right people to put in the positions quickly. I've worked in the mortgage business for 23 years now, so I know people from all walks of life, and they were able to join me. I was able to get them to come over to EMC, and I think that that was part of it. It's not all about me. I mean, you're only as strong as your team, right? Or you're only as strong as your weakest link. So I try to surround myself with people that I can learn from, that are better than me. You know, if you're the smartest person in a room, you're in the wrong room, they say.

So I try to surround myself around people that know more, they can motivate me, and they can inspire me. You know, and you continue to inspire many people, and especially here at EMC, like, what inspires you? What are you doing to gain that inspiration? Again, I think it comes from just being a self-motivated person. What inspires me is helping my clients. helping my team as my team is growing. I find myself working more, you know, trying to get them

better, answering all of their questions, really being a guide and a mentor to them so that they can lean on me for anything that they need. And I think that, you know, they appreciate that. That's why they stayed around, right? And you've done a really good, good job with retention, retaining your team members. Thank you. And a lot of people at EMC and a lot of other business owners, like, they struggle with retention. And one thing that your team members like really illustrate is like, love you. And they love working for you. I love them too. Yeah. And how do you exemplify it? How do you do it? How do you keep your team members so committed to your vision? Because I'm in the trenches with them. You know, I'm not, I don't consider myself a team leader. I'm a team member.

You know, I'm a member of their team. And if they don't succeed, they won't stay. So my goal is to get them to succeed. And how do I do that? I try to put metrics in place, you know, processing in place, and different workflows in place so that they can optimize what they do best and that's staying on the phone or whether it's a processor, you know, all the tools they need to process a file more efficiently. So I'm looking at my workflow weekly to see if there are any inefficiencies that I can fix or any gaps that I can fill. So you're, it's always changing. Yeah. And you're, you're, You're reassessing your workflow. So how often are you meeting with team members?

Every week. We have a weekly huddle every Friday where we talk about our successes, any program questions, like, oh, is anyone run into this scenario? I had an underwriter say this. How do you guys get around that? And we all kind of collaborate that way because we are a virtual branch. So it's the only way that we can kind of bring everyone together and get them kind of, you know, excited.

Yeah. So you're doing huddles. And then I know you do a lot of one-on-ones with these guys. A lot of one-on-ones, yep. What are some of the key elements of your tech stack right now that you're using to keep everybody engaged? We just signed up with RICOchet 360 a few months ago. I like it a lot. It's got a phone system built into it.

And it's really nice. It's very clean just to manage all of our data because, as you know, we have a lot of data. So we've moved away from Bonzo and onto 365 or 360. It's really good. Okay. Nice, nice. And then you're still using like, pipe drive for your pipeline?

No. Or it's all built in? No. It's all just arrive now. Arrive does all that. Nice. Yeah, I've kind of reduced my tech stack. I know.

It's all about reducing the text stack now because I got a little crazy. On boarding is a lot easier too, right? Before we had like five things that didn't talk to each other and you had to, you know, duplicate information. And it's just how can we get it done faster, cleaner, easier? That's my goal. Centralizing the technology. Right.

So I was able to get rid of Ring Central because now I have a phone system. within my CRM. And a lot of entrepreneurs who are probably listening in live are like struggling with fragmented technology. Yeah. It's a real struggle when you're working within so many platforms. Exactly. So you've managed to centralize your business ecosystem, which is tremendously helpful.

It is. Tremendously helpful. So, you know, talk to me about some of the key elements right now of your success. And if you can name three elements and why those are primarily your key elements to success. I mean, I should probably get this like tattooed somewhere on my like arm or something, but time blocking. Like I say it everywhere I go. Like time blocking has changed my life and I'm not saying that in a very, you know, like superficial. It's changed everything because I'm so intentional with the time that I spend.

It's helped me communicate better. I can wrap up a conversation within a minute because I have to get to the next thing. Otherwise, it's going to push the rest of my day back. So you're not letting conversations drag. No, not at all. Conversations with clients, how long are they? They're about 15 to 20 minutes, tops. That's a new client.

Yeah, new client. New origination. So time blocking. How about with LOs? Like, how are you? Same. I mean, they're supposed to go on the source, Angel AI. and Google before they contact me.

You know, if they can Google it. Like an angel AIA, they can chat GPT it. Right. So a lot of times I'll just send the Google link back, you know, with the little snapshot. No, I don't. I don't really do that because they don't ask me questions that are Googlable. Did you also create like a video strategy? Someone was telling me you were building a video library.

So every time someone was. So back in 2000, 2021, my partner, Jonathan and I, a lot of times Ellos would call me and ask me a question. Then they would call Jonathan and ask them the same question. We were like, are they fact. checking us against each other? What are they doing? Right? We didn't know. So we're like, we need to fix this because it's so inefficient. You know, as we were growing, we had like 20 people. If everyone's asking the both of us one question a day and it was way more than one, we're going to get nothing done. We're not going to be able to originate. We're not going to be able to do

our own thing. So we created a system where we only responded in videos. So if someone had a question, you know, how do you lock a loan in UWM? How do you submit a change of circumstance in UWM? I would create a video, screen share with my screen, right? Just a video. Just a video. of me saying this is how you do it, then you click here and there and whatever, and post it to our library. And we have over 80 videos now. So now when someone on boards and someone's new, I just say, go through all the videos. If you have any questions outside of this, contact us.

And they usually don't. And if they do, I respond in a video. So I can add it. I only answer a question once. Now it's on your library. Yeah. Like all of arrive, every tab and arrive, every situation that can come up there is there's a video for it that's awesome on my teams and files and teams is really cool because

you can go on top and search like UWM or any keyword that's actually a great great and everything that you've ever spoken about and any conversation will come up this is lock any video any file that says lock will come up it's an amazing tool we use how are you leveraging teams we use it for everybody a couple and then we're going to dive back into the other two yeah key elements of your because I still want that. Okay, no problem. I'll give them to you. We use it for everything.

Communication all day long. I rather team message a loan officer than get on the phone and talk to them because they could be talking to a client. I could be talking to a client. That's what makes us money. So if they have a quick question, of course, while I'm on the phone, I can answer that. So you're able to instantly communicate. Exactly.

So we have different groups. I have a processing channel. I have one for sales. like general sales. Then I have branch generated folks that are just in a category by themselves. If there's a call in queue or we had a miss call, someone called this back, it's the first one to get it, it gets it. So we have different channels. And then I have a manager one with Jonathan. That's awesome. So it's just for you guys? Super organized. Yeah. I mean, I know we're not doing that. We're definitely not leveraging teams to that

extent. It's incredible. Like anything that you've ever communicated, if you go on top, on the very top, there's a search. I don't have a video on how you. Yes, I do. I'll furge you video. Yeah. That's awesome. That's really cool. So the first one I would say would be time blocking because it just, you realize how much time you have in a day and how much time you're spending either whether it's leading or originating. Those are the two things that, you know, those are my two sources of income. So, and I have, I have them color-coded. So I can see how much time, just by glance, I can see how much time I spent originating, how much time I spend.

leading. Any particular technology on time blocking? Because, you know, I was looking at motion app. A.I. Did you implement that? I just use good old calendar outlook. Yeah, okay. Yeah, categorize it by color. I have callbacks. I have my morning birthday and client callbacks from the night before or the morning. So every client, you have a morning birthday. You wish all of your clients a happy birthday. Every single one. Yeah, they get a message from their moms and me. Yeah. That's awesome. Every single client. That's amazing. Yeah. So they're all on your calendar.

All of them. Every funding. Well, not on my calendar. They're in Excel. Yeah. But my reminder, my time block is on my calendar to do that. Okay. Yeah.

So you're actually, after the deal closes, you're adding that in your calendar? Mm-hmm. That's brilliant. Yeah. Never thought of that either. I'm hoping a lot of people are grabbing nuggets right now that they can implement. The RRIE actually does that now, but it's only up to the time you started on Arrive. And I haven't uploaded my entire database into RRIVE.

Yeah. I'm not going to do that, yeah. Yeah. I mean, now you're, man, you're doing it anyways, so. I've always just done it on Excel, and it's easy. You just kind of drill down by date. Yeah. It brings up the ones you need a call.

Yeah. Yeah. And I, you know, just, I hope you have an amazing day. I hope you're doing something fun. If you need anything, reach out. It's Nancy, your lone gal. Yeah. Like two seconds, yeah.

It literally takes, like, five, five seconds. And then it's, it's like residual income forever for just a happy birthday. Yeah. What else are you doing and retain your clients? I call them quarterly, every single client, just a touch base. I'm not asking for anything on the purchases. I was calling them a little bit more. Like, how's the school going?

Did you register them for school? I send them a utilities sheet of their local utilities. And I co-brand the buyer's agent on it. The buyers' agents love it because they're like, oh, my God, no loan officer's ever done this before. and I send it out to my purchase clients. And that's been going good. That's awesome. All right, the other two.

The other two, I'd say follow-up. And that goes back to the calendar. Yeah. Right? And I'd say my third one. Well, hold on. Let's dive deep into follow-up. Okay.

Walk me through some of your follow-up process. I love your game because your game is tight and it's effective and there's a ton of results. And we see it. Well, follow up, during a busy time, it gets really hard to even remember who you spoke to last week. And it all comes back to my time blocked calendar because every client I speak to is on that. And they either turn yellow for submitted or red. I didn't close it. So I go back up on my calendar for the prior week and I call each and every single person that isn't yellow yet.

it's just so easy. Like I don't know. Like I can look at a full month and see how many yellow tabs I have. And I call them until they tell me like, this is harassment. You need to stop calling me. Yeah. And then I send them a Starbucks gift card. I apologize.

And I say, okay, no problem. I'll pitch them. I do not call this. And then I send them a Starbucks gift card. And then they thank me. And then it starts over. That's awesome. Yeah.

That's actually very clever. Yeah. That's very clever. Get them back to reengage. Yeah. And then they're back on the. queue for another three months. And that's fine. But the ones that do, yeah, we go back.

We're friends again. We're chatting. That's awesome. They go back into the pipeline. Yeah. And then the third one. Third one, time blocking. I guess program knowledge is really important.

I think what sets one loan officer apart from another one is their ability to restructure and to structure a deal right? Yeah. Right? Where to send the deal for optimum success. what your client's stress points are. Are they really fixated on rate or do they need it for speed? And do you know where to send it to get that?

Right. So some of that comes from experience or, you know, a good support system that I think we have at our branch where we collaborate on that. Hey, I have this deal where would you guys send it and a bunch of people will respond. So you might notice you don't see a lot of engagement. Engagement on the sales platform because we have your own. one that we, yeah. The Amerify. Exactly.

The Amerify platform, which is like a BIP platform. And then if no one responds on that or doesn't know, then we'll come to the EMC one. The sales one. The sales one. Yeah. Yeah. Well, hey, I'm going to try to ask for permission to enter that one. I'll give you admin rights.

That's awesome. So just a, you know, just a couple more questions. And we'll wrap up here. But after dominating for two decades, you've dominated for two decades. And you really catapulted your success when you came to EMC. But after dominating this long, like what drives you every single day? Because a lot of people, they're not driven after a year, you know, there are two years. You're driven every single day.

You come, you crush it. There is no like, oh, Nancy's going to have a bad month. or Nancy going to have a bad day. You've been consistently, month after month, day after day, year after year, number one in an organization of 800 people. I think it's my team.

You know, I want them to win. If I don't show up and they have a question, like, who's going to help them? Is there going to be someone there that helps them? I'm not sure. I mean, of course, Jonathan will help them. We do have someone, but I don't want to put that all on Jonathan.

I care a lot about him. I don't want to put that all on him. And I care about their success, you know? So it's not like I don't feel like I'm working. Like, oh, I'm so tired. I'm working. Like, I want to do it. Like, I don't feel like I get excited.

You know? And when I'm not number one, it pushes me to kind of like, hey, who's that? I love teasing you about it. No, I love it. Even. Oh, this guy's coming for you. I love it. And that is what motivates me.

Yeah. Yeah. I'm excited. And I like to use that. Oh, that's why. That's why you're always like he's coming for you. He's coming for you.

That's a shout out to Dan Holloway there. Hey, Dan. I just met him. I love the guy. He's so cool. He is a great guy. He's so cool. No, we have a great community.

Cheers. Cheers. Coffees for closers. You know, our first superstar guest from EMC directly. Thank you. Thank you. You know, this is your only diet now, huh? It's black coffee.

Mm-hmm. 24-7 fast right now. Right. So we like to. conclude every podcast with something that that's near and dear to everybody and everyone could relate. What is one personal goal? What's one family goal? And what's one business goal for 2024? A business goal for 2024 would be to grow to 100. Okay. 100 million or 100? No. You've already done 100 million, but we're going back to 100 million? No, no, not 100 million.

We did like, yeah, no. I meant 100, like, team members. Okay. Okay. I'm not so much volume-oriented as I am people-oriented. I care more about the people than, you know, how many units. Yeah. Yeah. And I guess a personal goal would be to maintain my workout schedule, which has been really hard. What is your workout schedule now? It's three days a week at 6 a.m.

Okay. Yeah. But I fly back and forth between Nevada, so it gets hard to kind of maintain that. Yeah. How often are you flying back? back and forth from Nevada? Every week. Yeah.

And Nevada residency. And brand new house that, how'd the house come out? It's coming out. It's not done yet. Still not done. It's been like three years being built. No, it hasn't. Well, it has, yeah, it did take a long time to be built, but after I closed, it's been

three months that I've been doing renovations inside. After, you're doing renovations on a brand new built house. Yeah. How's that? It's incredible. It must be amazing. Using Google Translate to be like, no, put it there. Yeah, that's awesome.

I love it. I'm like, I need one of my Spanish-speaking fellows to help me. They're like, oh, you have a file? No, can you talk to my contractor, please? I need him to change the color. And then a family goal. Because I know life, you spend a lot of time with your daughter, and I really admire the relationship.

And I actually admire the fact that you've raised such an incredible daughter. Thank you. Just smart daughter. And, you know, she's active. She's intelligent. She's also, you know, I know very, very, like highly great grades, right? Yeah. Highly academic.

You know, you're very academic oriented. Like most Middle Eastern are. I tell her, like, this is your job, right? Your job is school. So, you know, you need to be up there. I need my kids to have excellent grades. Yeah. And I know you took her to Paris when she was 10.

So, like, you have big goals with your family. You have a great relationship with your daughter. and tell me some of the goals. And how are you establishing that? I guess a goal is to spend more quality time one-on-one with her. I feel like she calls me travel mom is a different mom. So she loves travel mom because travel mom says yes to everything and I say no to everything here. So she's like, you know, when can I get travel mom back?

She's been asking for a vacation. So maybe taking her somewhere nice this year. She wants to go to Italy again. So maybe I'll take her there. This year? Yeah, maybe. That'd be awesome. Yeah.

And you deserve it. Thank you. reserve it. You work your tail off and you'll probably still be grinding, I'm sure, you know, responding here and there. Well, probably she's sleeping. Yeah, exactly. She's shopping and I'm typing back, yeah. Yeah, yeah. But, you know, you're in the position to provide for her and it's, you know, you continue to inspire many, many women. Your reach is much greater than you know. And, you know, as a leader, especially as a female immigrant leader, like you're doing a

fantastic job. You're doing a fantastic job. And God bless you and your family and your vision and your mission. And thank you so much for joining us for coffees for closers. You've been an amazing guest to have. Thank you so much. And we appreciate you and we look forward to having you again. Be back. Thank you.