Cultural shift toward collaboration & accountability
Quantifiable Success KPI's established
Increase in marketing tool utilization from 12% to 80-90%
brokers hitting higher numbers in our top 1%, 5% and 10%
Enhanced broker engagement & Participation
125 million in mortgage sales through onboarding new team members
Outcomes:
With The Rumin8 Group’s Approach to Customized Training
Mortgage Intelligence Revolutionizes Broker Professional Development
Case Study:
Results-Oriented Workshops
Featuring
Mortgage Brokerage
Industry
client
QUANTIFIABLE SUCCESS KPI'S established
BROKERS HITTING HIGHER NUMBERS IN OUR TOP 1%, 5% AND 10%
ENHANCED BROKER ENGAGEMENT & PARTICIPATION
INCREASE IN MARKETING TOOL UTILIZATION FROM 12% TO 80-90%
CULTURAL SHIFT TOWARD COLLABORATION & ACCOUNTABILITY
125 MILLION IN MORTGAGE SALES THROUGH ONBOARDING NEW TEAM MEMBERS
Outcomes:
Regional Vice President, GTA & Atlantic Canada
Mortgage Intelligence
Scott Wittrup
The biggest ROI we saw from The Rumin8 Group’s sales training was how it affected our market share. I was able to acquire approximately 125 million in new brokers due to this type of “out of the box” thinking. The industry was very interested in the fact we provided this to our brokers and therefore were interested in joining our team.
Mortgage Intelligence (MI) stands at the forefront of the Canadian mortgage industry. As a full-service brokerage, MI boasts a vast network of over 1000 brokers across Canada, extending its services nationally with a significant presence in Eastern Canada, establishing itself as the leading mortgage brokerage in the country. The firm's extensive portfolio encompasses residential, commercial, and construction mortgage solutions, catering to a diverse clientele.
In an ever-evolving financial landscape, innovation and adaptability are key to thriving in the competitive mortgage brokerage industry. The Rumin8 Group helped Mortgage Intelligence drive immediate and long-term impact by transforming how MI delivers sales retreats to its brokers by increasing the usage of their products and services to drive overall sales. In turn, setting a new standard in broker sales support and engagement.
The Rumin8 Group helps drive approximately 125 million in mortgage sales through sales and marketing training
REGIONAL VICE PRESIDENT,
GTA & ATLANTIC CANADA
MORTGAGE INTELLIGENCE
Scott Wittrup
The roadblock is we offer thousands of products, and brokers don't have time to look through them all. Dave was able to position the products that they needed to use and tell them exactly how they work and how to create success within a full-day training session.
I wanted our brokers to utilize all the products that we offer. I want them to see how the products can work for them in order to give a return on building volume and building success in their business.
The Goal
He wanted to empower MI’s brokers with the tools and resources needed for success and really focus on engaging sales training. This led him to enlist The Rumin8 Group to set the new standard in personalized sales training within the mortgage industry.
Scott Withrup, the Regional Vice President of Mortgage Intelligence, was tasked with broker onboarding and support. He didn’t want to host just another traditional mortgage solutions retreat.
REGIONAL VICE PRESIDENT, GTA & ATLANTIC CANADA
MORTGAGE INTELLIGENCE
Scott Wittrup
Another brokerage came up to me and said, ‘Dave changed my life. I was lost with what I was doing. All the parts were there, but nothing was really constructed. Dave helped me put my life in order and held me accountable to what I was doing.’ I knew I had to work with him.
REGIONAL VICE PRESIDENT,
GTA & ATLANTIC CANADA
MORTGAGE INTELLIGENCE
Scott Wittrup
We wanted to ensure they can withstand the next two years along with organization, preparation and use of our extensive support items. I want them, our brokers, to build their volume based on what we offer them. And Dave was able to do just that; he guarantees that ROI.
The biggest challenge we faced was our brokers preparing themselves for a down market and getting ready for the future.
The Challenge
Hiring The Rumin8 Group to facilitate their sales session emerged as a pivotal solution, aiming to revolutionize the way Mortgage Intelligence approached broker sales training and development.
The mortgage brokerage industry in Canada is intensely competitive and subject to frequent changes in market conditions and regulations. Mortgage Intelligence faced the challenge of ensuring their brokers were not only well-equipped with industry knowledge but also adaptable and resilient to these changes. Additionally, the pressure to maintain its standing as a top brokerage in Canada meant continuously seeking ways to improve and innovate.
Industry Challenges and Competitive Pressure
The traditional training methods employed within the industry were becoming increasingly inadequate in addressing the evolving needs of brokers. Mortgage Intelligence recognized that to stay ahead, they needed to innovate in their approach to broker support and training. The existing trainings were not sufficiently tailored to individual broker needs and lacked aspects of accountability and personal development.
Need for Innovative Training Approaches
One of the primary challenges faced by Mortgage Intelligence was enhancing broker engagement. Despite offering a wide array of tools and resources, there was a noticeable gap in their effective utilization. Brokers, integral to the company’s operations, needed more than just access to these tools; they required guidance and motivation to integrate them effectively into their daily operations to drive sales.
Broker Engagement and Tool Utilization
The challenge was multifaceted: rejuvenating an established organizational culture, enhancing digital visibility, and countering inherent issues like limited empowerment within the workforce.
These barriers stood in stark contrast to the company's aspirations of fostering innovation and growth.
Mortgage Intelligence faced several challenges that highlighted a crucial need to bring in a third-party expert who could bring a fresh perspective and new strategies to address these issues.
REGIONAL VICE PRESIDENT, GTA & ATLANTIC CANADA
MORTGAGE INTELLIGENCE
Scott Wittrup
How are they going to better their sales? How are they going to make things better? How can they personally have a conversation?
And so I sold our brokers on the fact that Dave is going to help them be better salespeople, increasing their income. Which in turn will help with our overall volumes that are coming in the front door.
How are brokers going to use our products, and how are the products going to work for sales?
REGIONAL VICE PRESIDENT,
GTA & ATLANTIC CANADA
MORTGAGE INTELLIGENCE
Scott Wittrup
I haven’t seen my brokers that engaged in any other sessions that I've thrown based on product updates. I started standing up and calling on people myself for Dave because I wanted to get involved too! This is a testament to talking at somebody and talking with someone. Dave incorporated talking with them and then using examples to connect with them.
Dave really identified with everyone in the room, and it kept our brokers going.
The Strategy
The industry-agnostic methodology proved transformational in addressing the specific challenges faced by Mortgage Intelligence. By not being confined to traditional industry norms, The Rumin8 Group was able to bring fresh perspectives and innovative ideas, which were instrumental in transforming the MI’s approach to training and development.
Industry-Agnostic Methodology
The Rumin8 Group’s approach went beyond conventional training, delving into areas of personal development and motivation. Understanding that effective brokerage is as much about mindset as it is about skill, their training included elements designed to boost confidence, resilience, and adaptability.
Innovative Approach to Broker Support
A key component of the strategy was to enhance broker engagement. This was achieved through encouraged participation and dialogue. The Rumin8 Group introduced accountability measures, helping brokers set and track their goals, thereby ensuring a more active and responsible role in their professional development.
Focus on Engagement and Accountability
The session was designed not just to impart knowledge but to actively engage brokers in the learning process. By using real-life scenarios and interactive sessions, The Rumin8 Group ensured that the training was not only informative but also highly relevant and applicable to the brokers' day-to-day activities.
Tailored Training Programs
The approach was a departure from traditional training methods based on product updates, which led to low engagement, low product usage and even lower sales. The Rumin8 Group focused instead on a more interactive and personalized approach grounded in sales strategy that far exceeded Mortgage Intelligence’s goals and KPIs, reshaping the way brokers were trained and supported within the firm.
The Rumin8 Group developed and facilitated a customized in-person training program designed to revitalize broker engagement and effectiveness with the end result of driving sales.
REGIONAL VICE PRESIDENT, GTA & ATLANTIC CANADA
MORTGAGE INTELLIGENCE
Scott Wittrup
From that point on, it turned into brokers being engaged. The pencils were out; they were actually asking questions. Dave’s slides are engaging. He told some personal stories, which drove a lot of brokers to identify with him. Dave really identified with everyone in the room, and it kept my brokers going.
All of a sudden, brokers heard ‘building my business,’ and the ah-ha lightbulbs started firing.
REGIONAL VICE PRESIDENT,
GTA & ATLANTIC CANADA
MORTGAGE INTELLIGENCE
Scott Wittrup
We started the day off with everyone looking at their phones, and the next thing I knew, everyone's phones were in their pockets. – The culmination of the event brought everything back together and allowed us to see how each topic throughout the day would assist us throughout our upcoming year.
I looked around the room, and I saw engaged brokers.
The Rumin8 Group Experience
The session included time for reflection and feedback, allowing brokers to share their experiences and insights. These sessions were crucial in reinforcing the learnings and addressing any concerns or challenges the brokers faced.
Feedback and Reflection Sessions
The session focused on instilling a culture of accountability and collaboration among the brokers. Through group activities and collaborative exercises, brokers were encouraged to set personal and professional goals, fostering a spirit of teamwork and collective achievement.
Building a Culture of Accountability and Collaboration
A significant portion of the training was dedicated to demonstrating the practical application of tools available to brokers. The Rumin8 Group emphasized how these resources could be seamlessly integrated into daily operations, thereby enhancing efficiency and effectiveness.
Focus on Real-life Application of Tools and Skills
Interactive sessions replaced traditional seminar formats, engaging brokers in active participation. These sessions included practical exercises, group discussions, and role-playing scenarios, making the learning experience more dynamic and directly applicable to real-world situations.
Integration of Interactive Training
The transformative full-day training by The Rumin8 Group marked a significant shift in the company's approach to sales training and development.
REGIONAL VICE PRESIDENT, GTA & ATLANTIC CANADA
MORTGAGE INTELLIGENCE
Scott Wittrup
Sales are so general. Sales can be anything. He had a way of using examples, explaining each segment and tying it to our industry. The training was directly tied to our business, and that was important to me.
The one thing I was most impressed about was the way that Dave was able to pick a topic and incorporate it into what applied to my business.
And the next thing I know, we have three of our brands signing up for next year. I'm planning a 100-person-plus event rather than a 50-person-plus. he Rumin8 Group’s sales training had a huge impact on our brokers.
It was the first of its kind, and the feedback was very positive. We had lots of great energy emerging from the session. The amount of brokers looking to be involved with his continued programs shows how much of an impact it created. 2024 will be a fun year.
REGIONAL VICE PRESIDENT,
GTA & ATLANTIC CANADA
MORTGAGE INTELLIGENCE
Scott Wittrup
The Results & Impact
The Rumin8 Group’s innovative training approach culminated in a powerful and impactful training that resonated deeply within the broker community.
The feedback from the brokers post-retreat was overwhelmingly positive. Many expressed appreciation for the fresh approach to training and development, noting significant personal and professional growth. Testimonials from brokers, including top performers, underscored the value and impact of the retreat in enhancing their skills and business practices.
The retreat not only addressed the immediate challenges faced by Mortgage Intelligence but also laid the groundwork for sustained growth and success.
While specific metrics and key performance indicators (KPIs) were to be gathered and analyzed post-retreat, early indications pointed to a positive trend in broker performance and productivity.
The retreat's impact was expected to be reflected in improved sales figures, higher client satisfaction rates, and increased overall business volumes for Mortgage Intelligence - approximately 125 million in new mortgages.
Quantifiable Success Metrics
The retreat fostered a culture of collaboration and accountability among the brokers. The emphasis on goal setting and personal development instilled a sense of ownership and responsibility for their success. This cultural shift not only boosted individual performance but also strengthened the collective ethos of the brokerage.
Cultural Shift towards Collaboration and Accountability
The practical focus of the retreat led to a better understanding and utilization of the tools and resources provided by Mortgage Intelligence. Brokers left the retreat with a clearer sense of how to integrate these tools into their daily activities, leading to enhanced productivity and efficiency in their operations.
The result was an Increase in marketing tool utilization, including blogs, mortgage calculators, website support and a social media toolbox, from 12% to 80-90%
Improved Utilization of Tools and Resources
One of the most notable outcomes was a marked increase in broker engagement and participation. The retreat, with its interactive and immersive format, reinvigorated the brokers, sparking renewed interest and enthusiasm in their roles. This was evidenced by the heightened interaction during the retreat and the increased usage of tools and services post-event.
Enhanced Broker Engagement and Participation
The immediate and long-term impacts of this event were significant, both quantitatively and qualitatively. The Rumin8 Group’s strategy transformed MI’s traditional training into an engaging, interactive, and highly productive experience, setting a new standard in broker development and support within the company.
The sales training marked a turning point in Mortgage Intelligence’s approach to broker development.
REGIONAL VICE PRESIDENT, GTA & ATLANTIC CANADA
MORTGAGE INTELLIGENCE
Scott Wittrup
The industry itself is in a very repetitive rut of what kind of products we use financially for our clients and what kind of programs we use for technology and administration work. And brokers are not really listening anymore. They see training as just another sales PowerPoint.
The partnership we created with The Rumin8 Group had Dave facilitating on selling the broker on what they need to do to see an ROI by using our products and investing into their business was a home run.
I offered a new option for my brokers to be successful, and Dave was able to make sure that was rolled out successfully.
The Rumin8 Group set a new benchmark in broker training within the mortgage brokerage industry. Their approach highlighted the effectiveness of interactive and immersive training over traditional methods, significantly enhancing broker engagement and productivity.
As a result, Mortgage Intelligence is now poised to expand these innovative training approaches across its wider network, continuing its collaboration with The Rumin8 Group.
REGIONAL VICE PRESIDENT, GTA & ATLANTIC CANADA
MORTGAGE INTELLIGENCE
Scott Wittrup
We are seeing the success of the event with some of our brokers hitting higher numbers in our top 1%, 5% and 10%.
The Takeaways
This case study serves as a model for adaptability and strategic innovation, showcasing the potential of creative solutions in workforce development and the value of investing in human capital for sustained organizational growth.
Want to see this kind of change in your organization? Get in touch with
The Rumin8 Group today.
Fill out the form to get in touch. You can expect a response within 24-48 business hours. Would you like to connect with us directly? Click here to email The Rumin8 Group.
We will be in touch soon.
Success.
