Today, we're re-joined by Jim Tourloukis. Jim is a mortgage broker and the President of Verico Advent Mortgage Services in Markham, Ontario. He is also a former coach in the 10 Loans a Month Academy.

Jim is here to discuss why you need to make clients "consciously incompetent", a strategy he uses for renewals, and term selection.

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Hey everyone, this is Scott Peckford, and in today’s replay episode from November 2022, I’m joined by Jim Tourloukis. We dive into some key strategies around mortgage renewals and refinancing, especially in a rising rate environment. Listen closely as Jim shares how he transitions clients from being “unconsciously incompetent” to “consciously incompetent”—helping them realize they need expert guidance in navigating their mortgage options.

Here are the talking points we covered:

• Jim's approach to dealing with rising rates, including early renewal strategies.
• How rate environments affect mortgage decisions and client communication.
• The strategy of holding rates early, reducing penalties, and transitioning renewals into refinances.
• Saving clients significant amounts through strategic mortgage management.
• How Jim uses CRM tools and campaigns to stay in touch with clients and provide ongoing value.
• The importance of personalized communication through automated systems.