The Tool Isn't the System: How to Turn Homebot Into Referrals and Production

Opening: the $80M sitting inside a database

Wally Elibiary: If you look me up on Reid or Model Match or any other technology platform, you will see I fund about $200 million dollars in business a year. Eighty million of that $200 million comes from my past client database. What you are going to learn today is how you turn your database into a data bank that you can take withdrawals out of using Homebot. The tool that I use, that I have been married to for north of a decade, is Homebot.

Wally Elibiary: My goal is for you to learn the framework, the system, the steps from A to Z. Here are my four commitments for today. What took me years to learn, our coaching clients are learning in less than 90 days. What I learned the hard way, they are learning the easy way. The mistakes I made starting out, they have learned to avoid. And the fourth goal, my favorite, is for you to take advantage of my losses and turn them into wins for your business.

Wally Elibiary: There is my NMLS number. A hundred and ninety-four million dollars in production last year, so you do not think I am some snake oil salesman. Year to date in 2026 is about $140 million. The last ten to twelve year climb went $36 million, $45 million, $81 million, $100 million, then $102 million in 2019. I looked around, I was 39 years old, and asked what is next for me. I started focusing on my database and went a mile deep and an inch wide with Homebot. It has been over a billion dollars just in the last five years. And the reason that matters is the last line: you can work smarter, not harder. What you are going to learn today is how I do all of this and take 20 weeks of vacation a year.

Why he stopped chasing realtors

Wally Elibiary: Before I show you the successes I need to be transparent with you. For me it was that I felt more of a celebrity in public and a phony in private. Todd Duncan had me on the Sales Mastery stage for a lifetime achievement award, standing ovation, and I was grateful for it. But I got home later that day and I felt like an absolute phony. We were going to Disneyland the next day. My youngest son Alexander was five years old, and he saw me in the front foyer and said, "Oh Dad, you're coming with us?" How pathetic was that, that my own five-year-old was surprised his father was coming on a family vacation.

Wally Elibiary: You cannot blame the kid, because I missed more dinners than I ever made. I missed more sporting activities than I ever made. My wife of 21 years handled everything from A to Z of the house because I was working for the family at the office. I was quiet for two and a half hours on the drive to the airport, and that is what shaped me to focus on my database. That is my why.

Wally Elibiary: 24-7 Mindset came out in 2023. It hit Wall Street Journal bestseller, 17,000 copies its first week, 91,000 copies total. The academy has had 3,100 loan officers graduate from it. At 47 years old I feel like I am living my purpose, to the point where I launched my own mortgage company. My team and I funded $35 million last month. Nine million of that $35 million came from the framework you are going to learn today. It came from our past client database and our Homebot triggers.

Wally Elibiary: But it is not only about me. Here is what I refer out to my partners. In 2019, when I started doing this, $427,000 in commissions that I gave out to my CPAs, my financial advisors, my family will attorneys, my insurance agents, and my realtors. By 2021 it was over a million dollars. Last year in 2025, over a million dollars again that I gave out to those five partners.

Wally Elibiary: Let me also make clear who I am not. I am not a cold call agent guy. If you want to cold call agents, I am sorry I have wasted your time. If you are an open house person, I am going to be worthless to you. If you like paying for Zillow leads, I am going to be worthless for you. What I am really good at, and what I hope you become better than me at, is database, database, database.

Addition loan officers versus multiplier loan officers

Wally Elibiary: If you take anything out of today, take a really good deep dive on this one. What I teach in 24-7 Mindset is how to build a business that pays you 24 hours a day, seven days a week, without you having to work in it more than 24 hours a week, seven months a year. That is what 24-7 Mindset stands for.

Wally Elibiary: Ninety-nine percent of loan officers out there are addition loan officers. An addition loan officer goes to a realtor, gets a referral, gets a commission, then goes back to that realtor and asks for another deal. What I teach, and who I am, is a multiplier loan officer. I go to the same realtor, I get the same referral, but I take that same client and I refer them out to four different partners: a financial advisor, a family will attorney, an insurance agent, and a CPA. At minimum I will get one to two referrals back from those four partners. What did I just do? I turned one commission into three commissions. And that happened simply because I stopped being selfish and started giving out referrals.

Wally Elibiary: Here is what I lucked into. Those one or two referrals I got back from the wealth partners were not connected to a realtor. So I hand my current realtors a loyalty referral back: thanks for being loyal, here is a $15,000 commission on a $500,000 pre-approval. Or I go find the biggest realtor in town and say, we do not work together, but I just got a $500,000 pre-approval from my financial advisor, would you like me to refer that client to you, and let's grab a coffee. The relationship is completely different.

Wally Elibiary: There are three major frameworks in 24-7 Mindset: the post-closing process, the multiplier framework, and the six-lane highway. On average, if your commission is $5,000, you are easily looking at picking up one more loan a month from each one.

Wally Elibiary: I read The One Thing eleven times, and I will summarize it in one sentence: what is the one thing such that by doing it, everything else becomes easy or unnecessary. For me, that one thing was to stop neglecting my database. When I stopped neglecting my database, I learned that the road to financial freedom as a loan officer has nothing to do with realtors and everything to do with your database.

The post-closing process

Wally Elibiary: I do a seven-day call after closing. On the seven-day call I walk the client through what their expectations are, what the 30-day call is for, what the six-month call is for, what the annual mortgage review is for. Here in Dallas we have homestead exemption, so I cover that, and I have them save our client concierge line, which is our post-closing dialer.

Wally Elibiary: On the 30-day call I go through the fifth page of the 1003, which is eight different opportunities. Can you get or give a CPA referral. Get or give a financial advisor referral. Get or give a family will attorney referral. Get or give an insurance agent referral. There are eight different opportunities on every single call you do with your clients. We walk them through their payment coupons, and we remind them about homestead exemption again.

Wally Elibiary: On the six-month call we walk them through homestead exemption again, because I cannot stand getting a call a year or two later saying the monthly payment jumped. It jumped because they never filed, so their taxes went up. We help them shop their home insurance while we are at it.

Wally Elibiary: Then the annual mortgage review. A lot of loan officers skip it because they do not know what to say. What we teach is to go through the past 1003. You already closed the previous mortgage. Where did they work before, where do they work now. They changed jobs? What did you do with your 401(k) rollover? You left it at the old company? Great, I am going to connect you to my financial advisor. Another factor I ask about is life insurance. Are they over-insured, insured correctly, or under-insured. Boom, I have a referral to my financial advisor.

Wally Elibiary: Every annual mortgage review is maybe 15 or 20 minutes of my time, and on average I pull almost three referrals out of every single one.

Page five of the 1003

Wally Elibiary: I know you are probably looking for something magical, but this is literally my fifth page of the 1003. The only reason it is called page five is that if you are an old fart like me and you started in 1999, we used to print loan applications and fill them out by hand.

Wally Elibiary: On it I ask the client who their HR manager is. Obviously we have to verify employment, but more importantly I want to get connected to their HR manager so I can become the preferred lender to their company. I did that with Enterprise Rent-A-Car here in Dallas. They had 1,100 employees. Those 1,100 employees are in my Homebot. I adopted that database, and now I am the preferred lender for Enterprise Rent-A-Car in Dallas-Fort Worth. I would never have gotten that if I did not ask these questions at time of loan application.

Wally Elibiary: Then you ask the client, insurance-wise, financial advisor-wise, CPA-wise, family will attorney-wise, who is your wealth partner and what do you rate them one to ten. Anything below a seven and you say, time out, I need to refer you to somebody who can help you grow generational wealth, because I can play the best defense in mortgage but you need somebody helping you grow your wealth. And there is a referral right out the door.

Wally Elibiary: If you have a loan officer assistant, before you tell me you are too busy, my assistant does this for me now. Every application comes in online, then my assistant calls the client and says there are a couple of things missing from the application. Who is your CPA, what do you rate them one to ten. Who is your financial advisor, what do you rate them one to ten. Who is your family will attorney, what do you rate them. Who is your insurance agent, what do you rate them. Then she scrubs the file and schedules the high-trust call.

Wally Elibiary: On that call you say, you ranked your CPA a three out of ten, walk me through that. Then: I am going to do a great job building out your mortgage, but I need to connect you with a ten out of ten CPA, otherwise you are never going to build generational wealth. And the referral goes out the door. Or say they ranked their CPA a nine out of ten. Then it is even easier: I help hundreds of families a year and you say your CPA is a nine out of ten, can you introduce me to your CPA over email. From there I start referring my clients to their CPA.

Wally Elibiary: This is not scientific. In 2019 I was doing this with paper and pen. Do not make it fancy. You do not need a big CRM to ask your clients who their wealth partners are and what they rate them.

Database adoption: 2,000 households to 28,000

Wally Elibiary: What was beautiful about this is that now I have 76 financial advisors who refer me business, 14 CPAs, nine family will attorneys, and four insurance companies, not four insurance agents, four insurance companies. My database went from 2,000 households to 28,000 households. And those 28,000 households are in my Homebot, producing over 300 triggers a month.

Wally Elibiary: The way I got them in there is this. When you flood a CPA with referrals, they want to reciprocate, but they cannot refer you back as many as you refer them. So the solution is: I have this tool called Homebot, why don't we joint market your past clients together using Homebot. Then when a trigger pops up, I want a CMA for my house, I want to refinance, I want a cash out, is my market hot, should I buy an investment property, what does a home equity line of credit look like, I reach back out and say, hey Mr. CPA, John Smith from your past client database just raised their hand and wants a CMA. Can you introduce me to them, and I will refer them to one of our realtors.

Wally Elibiary: If they ask for a CMA, what is really awesome is that you get to refer out a listing agent and a buyer's agent. On a $500,000 house that is $30,000 in commissions from one Homebot trigger. My favorite trigger, selfishly, is the one that says I want a CMA on my house, because why do you want a CMA? You want to sell your house.

Wally Elibiary: I studied Rockefeller for a long time, and he said it best: he who works all day has no time to make money. If you put your blinders on and chase realtors, realtors, realtors, you do not have time to build your wealth, because you are just chasing commissions. When you focus on your database you are building equity in your mortgage business.

Wally Elibiary: In 2019 I had about 2,000 people in Homebot. I did not close 9,000 mortgages that year, but I adopted 9,000 people into my database. The following year another 17,000 households, so 28,000 total. That is where the 300 triggers a month come from. If you have a 500-person database, can you learn to adopt another 500-person database and then monetize it through a Homebot onboarding call? I have adopted databases and so can you. One of our loan officers, Robbie, adopted a 4,000-person insurance database, and he is getting over 80 different triggers a month out of it.

Wally Elibiary: Robert Kiyosaki personally coached me from 2013 to 2017, and he tattooed this in my brain: my client's net worth is determined by my client's network. Our clients have relationships with other people. We just have to build a vehicle to get them to introduce us. The vehicle I use for that is Homebot, and it is the Homebot onboarding call.

The six-lane highway

Wally Elibiary: To review, I have six lanes in my business: the database, financial advisors, CPAs, family law attorneys, insurance agents, and realtors. Six different referral streams. The reason I am able to fund $200 million a year is because I do not solely focus on one lane, which is realtors. The reason I have done a billion in the last five years is because I focus on six different referral streams instead of one.

Wally Elibiary: The reason I am able to take over a million dollars in commissions, which is $80 million of production out of my $200 million a year, is specifically because of the Homebot onboarding call and being able to refer our clients to CPAs, financial advisors, family law attorneys, and insurance agents. I use Homebot as the vehicle to get me in relationship with a client on the Homebot onboarding call, and from that call I find the gaps they have.

Kai McBride on the math behind the framework

Kai McBride: Wally is really good at the what and the why. What I am going to walk you through is the how, the who, and the when. What I will tell you is that Homebot out of the box will get you results, but with the six-lane highway it gets you better results.

Kai McBride: First, I want everybody to understand the fundamental problems Wally solved that everybody else faced. If you have been in this business any period of time, and I have been in it 26 years, you know there was a time you could call anybody in your database and it was a deal, especially when rates were low. But the reality is that with higher home prices and higher interest rates, only one out of 25 people in your database really have another opportunity for a mortgage. So the reason you do not call your database is not because you are scared of calling, it is because you know there is no opportunity in it.

Kai McBride: Second, many of you are going after the same agents with no differentiating factor. Whenever I ask a loan officer what their differentiating factor is, they say, I have experience, I pick up the phone, I get deals done. Every single loan officer says that. So what makes you stand out so that a realtor chases you instead of you chasing the realtor? If your value means you still have to chase realtors, then you do not have a differentiating value.

Kai McBride: The industry tells you it is not the strategy, you just have to work harder, time block, have the morning routines, get back to the basics. They are blaming you instead of the strategy. The reality is that we are using 2000 strategies for a 2026 market.

Kai McBride: Some of you ask about other strategies. Modern marketing, social, webinars, classes, ads. Those strategies are good, but all they do is magnify the existing problem. If only one out of 25 people in your database need a loan, when you magnify it with social media it becomes 10 out of 250, or 100 out of 2,500. It is still the same problem. You can be more popular with agents because you are known, but it still does not make you better. When you are better, you attract agents.

Kai McBride: So why not diversify your income with wealth professionals? If you look at the market right now, the need for financial services far outweighs the need for mortgages. Regardless of whether you need a home, everybody needs financial planning, a tax person, insurance. Think about your ten closest friends. How many are in the market to buy a home right now? Probably not a lot. How many have a family and do not have a will? Most of them. How many do not have enough life insurance? Most of them. How many want a better accountant? At least half.

Kai McBride: So what we realized is that when we called the database, out of 25 calls only one person needed a mortgage, but all 25 people needed some type of financial service. Page five was originally meant for when you do a loan: is there a way to get more out of this loan, can I meet the CPA, can I meet the financial advisor. Wally wanted to take it on steroids. He said, instead of just working with the one person you are doing the loan with, what about all the nos? He took all 25 people and started referring them out in droves to those four financial professionals. That created four legitimate new pillars of referral relationships.

Kai McBride: Some of you say you have worked with these individuals before. Correct, but you were not referring them business. You were just meeting a financial professional and saying, let's send each other business. Loan officers are some of the most selfish individuals in the market, because we meet with so many people hoping they refer us business instead of being selfless and giving them business. It is a lot different to meet with a financial professional and say, I have business for you, because then it sparks business back.

Kai McBride: Here is how the math works. Normally when you call 25 people, one person needs a mortgage, which is good, but you also went through a lot of pain with 24 nos. What Wally did was get the one mortgage opportunity but still refer out all 25 people. He achieved a three-to-one ratio, and today he is at two-to-one. Three-to-one means for every three referrals he gave out he would get one back. So if he referred out at least 12 of the remaining 24, he would get an additional four mortgage referrals back. Instead of looking at it as one mortgage opportunity and everything else wasted, he took the waste and did something with it, and he five-times his result.

Kai McBride: But it does not stop there. Now you have five referrals to give to a realtor partner. So for once you can approach a realtor and say, I have referrals for you. Instead of treating everything like a separate strategy, we use one strategy to leverage the next. We use our database to leverage our wealth partners, and our wealth partners to leverage our realtors. Even if you just took the closings you did this year, referred them out to your wealth team, and then referred to an agent, you could about double your business.

Kai McBride: So how does Wally go from $50 million to $200 million? He did not work 400 times more. I hear a lot of you say you would never want to be a $100 million producer because you imagine the work. Most $100 million producers I know work less than you do, because they understand the concept of leverage.

Kai McBride: Here is another thing this does. Many of you struggle with rate shoppers and with people who cannot afford this market. That does not happen when you work with wealth partners, because your borrowers have higher income, higher FICO, higher assets, and higher loyalty. When a CPA tells a client to use a mortgage person, they use that person. They do not shop. Your customer loyalty, your average loan amount, and your average purchase price all go up.

Kai McBride: So everybody has to remember this phrase: realtors might be your biggest referral partner, but wealth partners should be your first, because they are easier to partner with, they create more loyalty when they refer you, and they give you enough leverage to then create realtor relationships. By doing this we eliminate the one out of 25, because now all 25 are useful to us, and we no longer look the same to all agents because we can give agents referrals.

Kai McBride: Normally most loan officers function in two separate lanes. They work their database or they work agents, and they work them completely separately. What Wally did was put four lanes in between, and they are all connected. We use the database to refer to the financial planners, tax professionals, family wealth professionals, and insurance agents, which creates referrals to give to real estate agents, and all the referrals come back to us as loan officers. That is the proper sequence in leveraging partners.

Where Homebot fits in

Kai McBride: Let me pause and talk about Homebot and where it comes in. When somebody triggers Homebot, you have to call. So what is Homebot really good at? Homebot is really good at triggering interest in your mortgage.

Kai McBride: What Wally has been able to do is adopt databases. He got all of his referral partners to put their database into his Homebot. In 2019 he had about 4,000 people, and by 2023 he had 13,000. So he adopted 9,000 people into his Homebot database from referral partners. And when those contacts trigger, the partners are calling for him.

Kai McBride: But here is the thing. If you tried to do that now, without doing all of this, your partners will not be calling your Homebot database for you. They are not going to want to do your work. The reason they will want to do this is because you are giving them referrals. Everything is about leverage. When you are helping somebody, they are going to want to help you out. They will gladly give you their database into Homebot. They will gladly help you call the leads that get triggered.

Kai McBride: Other strategies are great, and if you are considering social media or realtor classes, that is fine. But remember, they still have the same ceiling. When you apply this strategy to the other strategies, you get more out of them. Take social media. You may do six loans a month from social media, but think about all the waste, all the people who are not ready for loans. If you refer those people to your wealth team and then adopt their databases through Homebot, you could triple your social media strategy. This framework does not compete with other strategies, it makes other strategies better.

Kai McBride: Most of the industry tells you that in order to make more and work less, the only way is to hire. That is only part of the equation. How many of you have tried to hire somebody but did not have enough business for them, so you had to let them go? You have to multiply your time. And we are not multiplying our time by doing more work. We are taking the work we already have, referring it out, partnering with wealth partners, who then go to real estate agents, and then they all support us using Homebot.

Kai McBride: It does not take a $200 million producer to do this. People look at Wally and say, well, you are a $200 million producer. He says, I was not a $200 million producer to get here. I used to be a $30 or $50 million producer, and that is what got me here.

Results from people running the framework

Wally Elibiary: Travis implemented the 24-7 Mindset framework, and in his first 30 days, not his first 300 or 90, his first 30, he generated four referrals from his financial advisors. That is $30,000 in commissions. He got two pre-approvals back from his financial advisors, another $30,000. He referred out eight clients to his insurance agents, $6,000 in commissions referred out. And he got $30,000 out to his realtors from his financial advisors. He generated $96,000 in commissions for himself, his realtors, and his wealth partners in the first 30 days. I had dinner with him last week in Nashville, and he has doubled his business year to date.

Wally Elibiary: Martin is out of Chicago. He referred out $48,000 in commissions to his partners, his realtors, CPAs, family will attorneys, insurance agents, and financial advisors. In just 60 days he got back $114,000 in commissions.

Wally Elibiary: Jeremy Owens is out of Atlanta. In his first 30 days he completed 23 annual mortgage reviews and got seven new applications, and he referred three clients to his realtor partners. He generated $38,000 in commissions for his realtor partners out of his data bank. How did he do it? It was the Homebot onboarding call. He had 23 annual mortgage reviews where he taught his past clients the Homebot onboarding call, and from those he got seven applications. He went from $300,000 to over $600,000 in income in one year doing this one step.

Wally Elibiary: Brian Schmidt, also out of Chicago, did $31,000 in commissions in his first 30 days using Homebot. Are you seeing a pattern here?

Wally Elibiary: Others: Jeremy Owens tripled his income in his first three years with us. Anthony LaForce got an additional two million dollars in commissions from his wealth partners in his first 90 days. Chad Fleener generated $72,000 in commissions in his first 30 days. Matt Ballmeyer was a call center loan officer with no business, no realtors, no database. He got into the retail space in 2023 and went from zero to $50 million in three years. Martin went from zero to $30 million in three years. Kim Butler in Oklahoma got two referrals from financial advisors in her first week. Tara Hart battled cancer and won, and when she went back to rebuild her mortgage business she focused on this framework. In her first week she gave out a referral to a wealth partner, got a referral back, and landed a top builder. Justin Sinclair doubled his business working the same number of hours.

The mistakes that stop this from working

Wally Elibiary: Mistake number one is that most loan officers try to do this on their own, and 91% of self-directed courses never even get opened.

Wally Elibiary: Mistake number three is that they get on the annual mortgage review and make it about themselves. The point is to get in relationship with your past clients, find the gaps in their life, and then monetize those relationships by getting those opportunities. For years I was winging the annual mortgage review with no real plan.

Wally Elibiary: Mistake number five is that they do not have a CRM, they do not have a location for any of it. I use Jungo, which is built on Salesforce.

Wally Elibiary: Mistake number six is that they do not use a vehicle like Mortgage Coach. When I meet with a financial advisor I say, we both have a mutual client in John Smith. When I went over options with John Smith, here are the top three options we built out, and John Smith chose option number two. Then it is easy to say, walk me through it, which of these three options do you want your client to go on. That is exactly what Matt did to go from $100,000 a year to $500,000 a year in commissions.

Wally Elibiary: Mistake number seven, and this is the important one: they treat Homebot as a tool, not a framework. You are going to get triggers, but you have to understand how to monetize each one of those triggers. Robbie adopted a 4,000-person database from his insurance agent and he is getting over 80 triggers a month. Explain to me how you are not going to crush it in mortgage when you can get your insurance agent's clients to use Homebot and that insurance agent refers you every client back from it.

Wally Elibiary: Mistake number eight is that they leave hundreds of thousands of dollars in commissions on the table because it is all locked up in their Homebot list. That is why I built out the Homebot onboarding call. You close a loan, you get your clients on Homebot, and then you do a Homebot onboarding call with each client to get them to fall in love with the tool. Then it is trigger after trigger after trigger, and you just pick up the phone.

Wally Elibiary: Mistake number nine is that loan officers do not understand how to use technology to be front-facing with their database. I use Sales Boomerang, and you can use Monitor Base. I have four triggers built around my database. Credit pulls. Any past client whose house gets listed on the market. A life event, someone passes away, gets married, or gets divorced. And if someone tacks on more than $20,000 of revolving credit card debt, which is an easy cash-out opportunity.

Sixty-second recap

Wally Elibiary: Number one, you are learning how to turn your database into a data bank so you stop leaving money on the table. Number two, the fifth page of the 1003, how to get in and stay in relationship with your clients by referring them to your wealth partners or receiving referrals from them. And the six-lane highway is how to monetize the relationship with the CPA, pull their database into Homebot, and then reach out and say, John Smith in your database raised their hand and wants a CMA. And the next thing is how to become a multiplier loan officer, how to turn one loan into three commissions.

Questions from the audience

Question: Is the home loan report or Homebot the best technology? My closed loans go to both.

Wally Elibiary: I am going to say this as humbly as I can. I do not have a financial problem. I can add on any technology out there, and I personally choose Homebot. I am not bashing anybody else's technology, but Homebot has been my focus for close to ten years and I think it is by far the superior product on the market. I told you at the beginning: I do not get paid by Homebot, I have no affiliate link, and I own zero of Homebot. I built it that way so I can answer that question confidently.

Question: Are you filling out page five on the URLA they get in disclosures, or afterwards?

Wally Elibiary: The client fills out the application online, then my assistant or I pull the credit, scrub the file, and my assistant gets on the phone and does the fifth page of the 1003 with the client. Please do not send them a link to fill it out themselves, I have seen that work horribly. I pick up the phone and make an outbound call and walk them through the importance of partnering with a great CPA and a great financial advisor. It is not a separate call. It is part of reviewing the application, so it is not any extra steps.

Question: So professionals are just giving up their database?

Wally Elibiary: The beautiful thing is that I flood them with referrals first. When a client introduces me to a financial advisor, I start referring clients to that advisor and I tell them, I am a very competitive person and I want to be your number one referral source. Your current number one referral source, how many referrals did they send you in 2025? Say eight. Great, I am going to work my tail off to get to nine, ten, twelve. What is your average profitability per deal? Say $5,000. Great, so if I help you get ten, I just generated $50,000 for your business. Now I know my goal. I call my financial advisors weekly to make sure my referrals hit, and then I ask for referrals back. Not every time can they give me a referral. So then I say, I have to generate revenue for my business too, so what do you do to stay in relationship with your past clients? And then I walk them through Homebot and how we can joint market with it.

Question: What is your script for a wealth partner who says compliance will not let them share the information?

Wally Elibiary: For a financial advisor or a family will attorney, they will not hand over their database as an Excel sheet, but they will do an opt-in. The opt-in gets the financial advisor's database to opt in to your Homebot so you can use it as a tool.

Question: Does the CPA hand over emails and cell phones, and do those contacts go into your Homebot account or do you set up a Homebot account for the CPA?

Wally Elibiary: Yes, a CPA sends me their database as an Excel sheet, and yes I upload it into my Homebot. Then the triggers come through, and it is me and the CPA walking the client through each step, walking them through whatever widget they clicked on. Or if the CPA wants to upload everything directly to Homebot themselves, they can.

Question: Do you co-brand each referral partner on each client in Homebot?

Wally Elibiary: If it is me and the CPA, then it is me and the CPA co-branded on it. If it is me and the financial advisor, that is a different Homebot account with me and the financial advisor on it.

Question: Let's say you have 400 people in Homebot and you are not working the plan. What could we expect?

Wally Elibiary: With 400 clients in Homebot your open rate is probably in the mid-40s, which is about average. You are probably looking at 20 to 25 different triggers a month. But the number one thing you have to master is the Homebot onboarding call. The goal is to get your clients onboarded into Homebot and actually using the tool on a regular basis. If you can get your clients to fall in love with that tool, they are going to use it trigger after trigger. The challenge is that loan officers get Homebot, dump their clients in there, and do not mine their database.

Question: Other than requesting a CMA, what are some of the other triggers Homebot generates?

Wally Elibiary: There are 19 total. The CMA is the most popular one. But also: should I refinance right now, should I do a cash out loan, what are my cash out options, is my market hot, warm, or neutral. And it goes further: should I make my house into an Airbnb, and if so what can I charge. Should I make my house into a rental, and if so what would I charge.

Question: What would you say are the most attractive features of Homebot in the minds of financial professionals?

Wally Elibiary: The number one most attractive feature is the usability, how easy it is to use and maneuver, and the color schemes. It is friendly to the eye and really user-friendly.

Question: What makes Homebot exciting to financial professionals? Why do they want to give it to their clients?

Wally Elibiary: Every financial advisor, CPA, family will attorney, and insurance agent gets paid on their book of business. The number one challenge for anybody paid on their book of business is churn. When they lose clients they lose revenue, and when they lose revenue they lose the value of their business. So they use Homebot to stay in relationship with their past clients, add value to them, and help them grow their wealth. Retention is number one, decreasing churn is number two, and adding value is number three.

Question: I am not calling my database because I do not have anything to tell them, and they do not have any current questions.

Wally Elibiary: There is a ton of value you can bring your clients without talking about a refinance. In Texas it is a probate state, so if you do not have a will your house goes to probate. So a lot of the time when I call a client I am asking, who is the tax attorney that helped you get your will done for your house? Oh, you still have not done that? Time out, it is not if we pass, it is when we pass, and we need to get that done. I am going to refer you to my family will attorney. Or, you bought a $500,000 house a year ago, were you able to increase your life insurance to offset that? And there is a referral to my financial advisor. You are not just calling them to hit them up for refinances.

Question: Does Wally also teach how to do annual mortgage reviews for people who have not completed a 1003, for example our sphere of influence?

Wally Elibiary: A thousand percent. I cannot tell you how many annual mortgage reviews I have done by just asking a person to send me their most recent mortgage statement.

Question: How much time per week should I allocate? I am a co-branch manager and I am also responsible for recruiting loan officers.

Wally Elibiary: I would budget maybe 20 to 30 minutes a day to complete an annual mortgage review. And here is the secret weapon we teach: you complete the annual mortgage review, then you spend five or ten minutes calling the realtor who did that purchase deal back in 2019. Imagine you call and say, Sally, we closed John Smith back in 2019 together on 123 Apple Street, I just completed the annual mortgage review with them and I want to catch you up on what is going on in their life and with the house. What realtor is not going to think, who is this loan officer? So budget 20 minutes for the review and 10 minutes to call that realtor, and then ask that realtor out to lunch. If you are a co-branch manager, you should be doing this for your loan officers. Think of it as loan officer retention. If you build this with your loan officers you will never have to write a check for a retention bonus again. I own a mortgage company and I do not give out sign-up bonuses, but I help put over six figures in commissions in my loan officers' pockets using this framework.

Question: So are we reaching out to accountants, financial advisors, attorneys, and insurance agents cold?

Wally Elibiary: Negative. You go to a realtor, you get a loan application, you review the client's options on that application. Remember, there are eight different opportunities and they are all warm. When a client says their financial advisor is a nine out of ten, you say, can you introduce me to your financial advisor over email, and I will run everything we went over by them and get their blessing, and I would love to start referring my clients to them. The client introduces you. It is a warm referral.

Question: How do you keep track of the referrals?

Wally Elibiary: I will answer that two ways, Wally of 2019 and Wally of now. In 2019 it was paper and pen. I had a yellow manila folder and I would write the name of the borrower and which partners I referred them to. Today it is in our CRM, which is Jungo on Salesforce.

Question: Not every transaction goes smoothly. How do you handle a client whose realtor was terrible, if the client wants to sell again?

Wally Elibiary: I am not saying what I do is correct or incorrect, I am saying what I do. I refer that client to another realtor, and I call the original realtor and say, I was just talking to John Smith, they had a really bad experience, here is what it consisted of, and they do not want to work with you again. Do not shoot the messenger, but I wanted you to hear it from me first. I am a big fan of honesty being the best policy.

Question: Could this be worked into a reverse mortgage strategy?

Wally Elibiary: You would absolutely crush it. I would focus on referring clients from your client base to your financial advisors and then getting reverses back from them. Reverses are ridiculously profitable, so yes, it works really well.

Question: Do you feel the system will work for someone who does loans and real estate as a one-stop shop?

Wally Elibiary: It will work even better. We also teach our realtors how to do an annual real estate review. At my mortgage company we call our realtors' databases and schedule annual real estate reviews on the realtors' calendars. So you would be able to do both, the annual mortgage review with the client and the annual real estate review, which helps you add more value and get more referrals.

Question: I am super slow right now and business has been hard. What are actionable steps for someone newer with very little business?

Wally Elibiary: The number one easy thing is to find a need and fill a need. Call one of your past clients and find out what is going on in their life. I do not care if they want a referral to a painter or a lawn person. I was talking to a loan officer who said she had a client who wanted a referral to a financial advisor but she did not know a great one. I said, do you have a Facebook account? Go post, I am looking for a great financial advisor, who do you know. She got 19 different referrals to a financial advisor. She stopped being slow. She got on the phone with one, referred that advisor to her client, and got a referral back that same week. Find a need, fill a need. We have to be givers. If you can be a giver you can make a ton of money in this business.