Julie Johnson’s work story is inspirational from humble beginnings. She launched her mortgage businesses as a single mom with three young kids more than 25 years ago.
Today, Julie is a powerhouse in the mortgage industry as the regional vice president for Cross Country Mortgage. She’s one of the top producers in the nation and a highly sought-after coach.
In this episode of BEATS WORKING, Julie shares her strategies of delegating what you’re not good at, building teams by building trust, and, at the end of the day, treating employees like family. Julie also shares the importance of spiritual, mental, and physical health on the person you are at work.
“I had the privilege of working with Julie right after leaving TV news in 2022,” says BEATS WORKING host Mark Wright. “She is everything you’d want in a boss—kind, generous, and committed to the success of those around her.”
Resources from the episode:
- Connect with Julie on LinkedIn.
- Follow Julie on Facebook, Instagram, X (formerly known as Twitter), and YouTube.
- Learn more about CrossCountry Mortgage and connect with Julie and her team here.
- Find Julie on TikTok.
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Transcript
The following transcript is not certified. Although the transcription is largely accurate, in some cases it is incomplete or inaccurate due to inaudible passages or transcription errors. The information contained within this document is for general information purposes only.
Speakers: Julie Johnson and Mark Wright
JULIE JOHNSON 00:00
Today, I coach top producers through the core training, which I owe a lot of what I’ve learned to them. They’ve taught me so many wonderful things about how to be a business. But when I’m coaching my students, that’s the shift that we’re trying to make is, you know, you need to focus on a couple things, and the team can do everything else. And then there’s freedom after that, but that’s hard to think about and actually, you know, make that mental shift.
MARK WRIGHT 00:27
This is the BEATS WORKING show. We’re on a mission to redeem work – the word, the place, and the way. I’m your host, Mark Wright. Join us at winning the game of work. Welcome to BEATS WORKING. On the show this week, winning the game of work in the mortgage industry. Julie Johnson’s story is an inspirational one from humble beginnings. She launched her mortgage business as a single mom with three young kids, more than 25 years ago. Times were tough in the beginning, but as Julie learned and grew, so did her success. Today, Julie is a powerhouse in the mortgage industry. She is regional vice president for CrossCountry Mortgage. She’s one of the top producers in the nation and a highly sought-after coach. Julie shares her strategy of delegating what you’re not good at, building teams by building trust, and at the end of the day, treating employees like family. We also talk about the importance of spiritual, mental, and physical health in terms of how it affects the person you are when you show up at work. I actually worked with Julie right after leaving TV news in 2022, and she is everything you’d want in a boss. Kind, generous, and committed to the success of those around her. I hope you enjoy my conversation with Julie Johnson. Julie Johnson, welcome to the BEATS WORKING podcast. It’s so great to have you here and it’s so great to see your face again. Welcome.
JULIE JOHNSON 01:56
My honor. It’s a, it’s a joy for me just to always, you know, first of all, to get to see you and then also just to hang out and have a conversation with you. How fun is that?
MARK WRIGHT 02:05
This is going to be so much fun because our podcast is dedicated to people who are doing it right, people who are winning at the game of work and also honoring human beings at the same time. And I had a chance to work with you for a while, and we’ll get into that a little bit later in the podcast. But Julie Johnson is a regional vice president for cross country mortgage. She’s one of the top mortgage lenders in the country. One of the most respected. She’s one of the top coaches in the country in the space of real estate and mortgage lending. So we’re going to tell Julie’s story today, and it’s so much fun because you are so successful. And it’s because you’ve done it the right way. And I think this is going to be a lesson in so many ways for all of us.
JULIE JOHNSON 02:46
Wow. That’s really huge. And, um, you know, I feel good about how things are today and it’s, it’s been a journey for sure, but it was definitely a work in progress. Um, you know, I can honestly say that, you know, the team I have today is really great and wonderful. Uh, but a lot of that is because I had to work on myself at the beginning. And so, I did go through a stage of, you know, earning and churning through great people because I wasn’t developed enough to lead them. So, as I’ve grown throughout the years, you know, that has been better. So, every year gets better, and I don’t want to stop growing. So, but thank you for that.
MARK WRIGHT 03:23
So, you started in the mortgage industry. More than 25 years ago, you were a single mom at the time of three kids. You started your own mortgage company with your brother out of your home. Um, take me back to that time and it sounds like life was a bit of a challenge for you at that, at that point, Julie, what, tell, paint the picture.
JULIE JOHNSON 03:41
Oh goodness. Yes. Going back there, you know, today I can smile, and I go back and look at that time because, you know, I have kids, and it’s been a lot of fun, but yes, it was a, a pretty dreary time in my life where I was actually a stay at home mom for about seven, eight years actually, so I was a very young mom by the time I was 23. I had three little ones and I can honestly say that, you know, when you’re little and you’re saying, I want to be this, I want to be that when I grow up. My first thing was, I want to be a mom. So, so, my dream came true, and it was a little hectic and crazy, but then I went through a divorce at the age of 27, and it was heartbreaking, you know, for our family to break up. And, uh, there was some alcoholism there. And so, part of it was, I knew I had to get out and, um, you know, and take care of my kids. So, you know, I honestly, didn’t have a job at that point, right? I was, it was just me. And I happened to, um, you know, think about going into the mortgage industry. My mom actually introduced me to the mortgage industry because she was a real estate agent. And so, at that point, I was like, I really don’t have very many skills, but I’m a great mom. What can I do? And I actually chose that career too, because first of all, you don’t have, you didn’t have to have a lot of experience, unfortunately. Back then it was a different world over 26 years ago in the mortgage industry. Today, it’s very different. I mean, you need to pass a really hard test. There’s fingerprints. There’s a lot of things you have to do, but back then, it was a little bit more cowboy-ish to be honest. And so, but it was also a great opportunity for me to be able to, you know, bring my kids to work in the morning, pick them up, and then work in between because I really didn’t have to clock in. It was a hundred percent commission. So, the only job I’ve ever had has been a hundred percent commission. And so, you know, that means that, you know, you get to eat what you kill, if you can, if I could say that. Um, and it drove me to really work very hard because I had to feed my kids. So, it was a perfect, I just landed in this perfect industry and, uh, and then yeah, so that’s, that’s where it started, and it was tough, but, but yeah, and looking back, it’s really interesting.
MARK WRIGHT 05:54
What was the biggest lesson, Julie, that you learned when you first started in the mortgage industry?
JULIE JOHNSON 05:59
Wow. There’s probably a ton of lessons I could learn. But I really learned because when you’re in, you know, basically, we’re in sales, right? And when you think about sales, how it all works, you’re really just trying to connect with people. So, and that’s because, you know, you want to do a good job, you want to take care of your clients, but I didn’t know how to do any of that stuff. And unfortunately, back then I didn’t have mentors who told me how to do things. Basically, they just said, here’s a rate sheet. Read it, learn it, understand it. So, I had to learn like, how do I connect with these people? So, what, so what I could honestly say is I wish I could have gone back and, you know, learn to connect sooner or do some self-development things, um, so that I can be better in my career.
MARK WRIGHT 06:44
I’ve always been interested, Julie, when companies start growing, and it’s just you and your brother in the beginning, but then you realize, hey, if we need to scale this because there’s too much work for, for just the two of us, as you start to grow a company, there’s a little more risk because you’ve got people on the payroll, right? And if you hire the wrong person, it can ruin the atmosphere of the entire office. So, I’d love to know from a strategy standpoint, as you grew the company, what was that like?
JULIE JOHNSON 07:10
Yes. Scaling your businesses. It’s really the key. It actually gives you more freedom, and it’s a lot less stressful. It’s still stressful because you have, you know, you’re hiring more people, you’re worried about taking care of them, making sure that you’re doing enough to produce so that they have a job. You know, I take that very seriously today, and, and the mortgage industry is up and down as it is right now. It’s, it’s come from a two-year kind of lull, but it’s starting to creep up again. And, you know, with more houses coming on the inventory, um, but really scaling your business is you have to really believe that, you know, if I hire this person, I’m actually going to do better. I’m going to do more, and I’ll be able to help more people, meaning my clients are wanting to purchase homes. And then I’ll also be able to hire more people and help people get into the industry because people don’t wake up in the morning and say, I want to be a mortgage loan officer. It just doesn’t happen. It’s not one of those, if you could say sexy jobs, right? It’s very, very, very, very different. Um, so, so you have to scale your business in our industry in order to produce the type of numbers and have more freedom, have a better work life balance, but it’s hard. You, you know, I had to work probably three years solid where I worked 60 to 65 hours, knowing that one day I’m going to be able to hire more people and then I’ll start to scale back and work less. So, and what I really had to learn is that in our industry, like there are a lot of things that my team can do probably better than me, and there’s probably just a couple of things that if I really hone in on those two skills, you know, that’s where that’s where I can really make a difference. And for me, in my industry, it’s basically I need to take care of referral partners who refer me business, because people just don’t call up and say, hey, I want a mortgage. I get referrals from real estate agents, financial advisors, CPAs, and past clients and current clients who are actually in the process of purchasing. So, and then I need to talk to, I need to really be good and take care of my clients. So, today I just really see a lot of clients face to face. And then I also see my referral partners face to face, but everything else the team can do so much better than me. And I think that’s where a lot of people, you know, get stuck because they think they can do all the, they’re the best at the paperwork and all this, but no, no, no, that’s not the case. And it’s a mental thing more than everything, more than anything. And today, I coach top producers through the core training, which I owe a lot of what I’ve learned to them. They’ve taught me so many wonderful things about how to be a business, but when I’m coaching my students, that’s the shift that we’re trying to make is, you know, you need to focus on a couple things, and the team can do everything else. And then there’s freedom after that, but that’s hard to, to think about and actually, you know, make that mental shift.
MARK WRIGHT 10:09
That’s such an interesting philosophy, Julie, because we’ve interviewed a couple of people from several people from Strategic Coach, which is one of the top coaching programs for entrepreneurs in North America. And they have a concept called Unique Ability, and they teach people to identify what your unique abilities are so that you can spend more time doing that and delegate the other stuff that you’re not so good at, and to not be afraid of that. And it sounds like you discovered that from a pretty early, early age in your career. Yes,
JULIE JOHNSON 10:36
Yes, that is exactly it. That is really, really the secret to scaling.
MARK WRIGHT 10:41
So, let’s talk about how we got to know each other, Julie. Um, as I was exiting the broadcast industry, I was looking for a new profession, and a mutual friend of ours said, hey, you need to meet Julie Johnson. I said, why? And he said, she’s one of the most amazing people that I know. And she’s also one of the most successful mortgage lenders in the country. And so, um, so I met with you and we had coffee and, and I was going to become a mortgage loan officer. And you said, look, if you, if you’re serious about this, I’ll, I’ll make a place for you in my office. And, and, so I studied, and I took the test, and I passed the exam, and I got fingerprinted, like you said, and, and I joined your company for three, four, three or four months, um, right. As interest rates started going up, and it was, I’ll tell you though, Julie, even though the timing wasn’t great to join the industry. Um, I really appreciated the time that we spent together because I really got to see behind the curtain, um, your operation and how you run your business. And I was so, so impressed with, um, it’s really a family that you have uh, assembled and you’re so committed to growing people. You’re so committed to, I mean, it’s, it’s like the old movies where you start in the mailroom, right? And then you work your way up to CEO someday, and you’ve got people in your organization that start at the front desk. And then as, as openings happen. So anyway, I just wanted to thank you, Julie, that I’ve, I will always be grateful that you were open, uh, to allowing me to try that and, uh, and so, um, that’s a very special time, uh, in, in my life. So, and I really got to see, and you, and you took me along. Let’s talk about the core training, because you took me to a core training in Texas, um, when I first joined, uh, your office there, the core is really a wildly successful, um, coaching program for realtors and for mortgage lenders. How did you get connected with, with the core anyway? Because you, you really do credit that with transforming your business.
JULIE JOHNSON 12:40
Wonderful. Before we go into that, I just want to say that when I met you, I was starstruck. I was like, oh my gosh, I know this man. I’ve seen him on the TV. And then I just knew that whatever you did, no matter what, like you would be successful. So, and I normally don’t do that. Just take that risk because usually you have to, you know, you have to learn a few things first, but I just knew that you would be that kind of a person. So, it was definitely mutual, and you did an amazing job, and we were sad when you left, but you had to take this amazing opportunity and we totally saw that. So,
MARK WRIGHT 13:11
That was, that was probably one of the hardest things I’ve ever had to do is when this opportunity to host this podcast came along, and to join WORKP2P, I knew that that opportunity probably would never come, uh, my way again.
JULIE JOHNSON 13:24
Oh, it’s amazing.
MARK WRIGHT 13:25
Talking to you. And, and I was, I was dreading that conversation, but you just said you smiled, and you said you gotta go for it. And, and I was, I was just, I’m like, wow. That was so kind of you.
JULIE JOHNSON 13:36
Oh, you’re nice.
MARK WRIGHT 13:37
So…
JULIE JOHNSON 13:38
Yeah. It’s just, and then that’s one of those things that, you know, you do that this so well, so you should be there. It’s gonna bring you joy and happiness. So, I’m really happy for you.
MARK WRIGHT 13:44
Yeah.
JULIE JOHNSON 13:45
Yeah. But yeah.
MARK WRIGHT 13:46
So let’s talk about the core, Julie. When, how did you first find out about the core training?
JULIE JOHNSON 13:50
So, the, I was at a company that I worked for and, uh, we had, uh, we uh, basically companies try to bring you to, you know, conferences that help you with sales or, you know, business planning, things like that. And so, we all went to the mega, which is the same event that you went to. And basically, uh, the core training is, it’s over, we’ve been around for over 25 years, and they basically teach people to tactically how to be a great loan officer, how to be a great real estate agent, and also how to run your money. So, the three things that we concentrate on, you make more, you save more, and you give more. That’s really the philosophy. So, I don’t know about you, but growing up, no one really told me about checking accounts, how to save money, all that stuff. I learned this in this program back in 2015. So, or yeah, 2014. So, this is, I mean, I, I really wish I would have learned this earlier, but because of this program, I’ve been able to drastically increase my income with tactical, you know, tactical advice and accountability. I’ve been able to save money, you know, build a legacy for my family. So I’ll be giving to my children’s children in the future. And then I’m giving to charities, which I’m ashamed to say this, but I really never did that before. I really never picked a few charities and say, I’m going to work with you. I want to help you. And I learned all this from the core training and our founder, Rick Ruby, has completely changed my life. Uh, so after I entered into the program, he tapped me on the shoulder and said, I want you to be one of my coaches. And I was like, oh my goodness. How am I going to do that? So, if you become a core coach, what ends up happening is you’re going to start to coach people under you who make less than you. So the goal is whoever is your coach, you’re going to, they’re going to have more money than you, and they’re going to make more money than you so that they can actually, you know, show you what they’ve done. And so, so today I have every, every semester I have, uh, which is, uh, six months, I have 12 students, and we carry it through a year. Um, and it’s great. It’s a, for me, it’s a giving back, but at the same time, I learned so much from the students, from the founder. I’m also coached quite a bit as well. So, I’m all for coaching and accountability. Um, it’s completely changed my life.
MARK WRIGHT 16:14
And there’s a real focus on measuring the metrics, like, okay, if you want to be this person, you have to systematically do certain things throughout the day, throughout the week, throughout the month, and measure that so that you can see how you’re doing in terms of outreach. What, what would you say the key is Julie to success in the mortgage industry today?
JULIE JOHNSON 16:33
Right. It is really having accountability and I, a hundred percent, believe in being in a coaching program. And it’s interesting because the students and the coaches, we all work for different companies. We’re all sharing ideas, right? It builds this community and we see each other twice a year at a summit. The next summit is coming up in Florida in May, and we all get together and it just feels like an amazing community. So, so, the success comes from having accountability, whether that’s a mentor, but I really believe in coaching more than anything. And then also consistency. So you need to be able to wake up in the morning and say, this is what I’m going to, I know what I’m doing on Monday, Tuesday, Wednesday, Thursday, Friday. And so, we call those theme days. So I know every day of the week, what I have to do. And then there’s other things too, but it’s really consistency. It’s, you know, this is not instant gratification. So, this is more like putting your head down, grinding, you know, really doing the work. And then one day, you’re going to look up and say, wow, Here I am. I can’t believe that I have this money in the bank. I can’t believe that I have closed this many, you know, units have helped these many, many people as I’ve helped, you know, and that’s really what it is, is not worrying about the instant gratification, just consistency.
MARK WRIGHT 17:51
And because of the cyclical nature of, of the business, that seems like that savings part is really key because there must be some really lean periods in the mortgages.
JULIE JOHNSON 18:00
Yes, Mark. In, in 2008, when there was a true real estate crash. Uh, you know, every loan officer that I knew wish that they had lived in the home that they had previously and drove the car they had previously, you know, and it was a terrible dark side, you know, in our industry, but, and it actually took a lot of people out of the industry, both real estate and mortgage. Uh, I was able to stick through it because I wasn’t really involved in any of those crazy programs that clients were in. So I got pretty lucky. And, um, and it, it all worked out, but yes, exactly. Saving money is the key. That’s why I’ve always learned from the core and from my mentor that saving 20 percent every month is my goal, no matter what, I put that aside and I invested in the stock market, even the S and P, or I’m not really into the stock market, but I just do what my mentor says was just put in the S and P Julie overall. It’s 9%, you know, forever. So, there you go.
MARK WRIGHT 19:01
That’s awesome. Um, let’s talk a little bit more about how you’ve grown the team, Julie, when, when people first come into your organization, um, you obviously want the people with the potential to grow, but what does that look like in terms of when you start to advance people in the organization and what that communication is like, because I think some companies are really good about saying, hey, we want to help you grow as long as you can. And when, when that happens. When it’s apparent that maybe you’re, you’re not suited here anymore. You want to do something else. That’s great. But how do you approach that? You know, and if you have any examples of people in the, in the organization that you’ve had.
JULIE JOHNSON 19:35
Absolutely. Uh, for me and how I hire people, it starts at the interview. So, you know, our industry, there’s deadlines. There is dead. There are deadlines, and it can get crazy. And sometimes we’re working at night. Sometimes we’re trying to fix problems. Sometimes there’s weekend coverage. So when I’m looking for people to join my team, they don’t necessarily have to have mortgage industry. In fact, I kind of prefer not to, because I want to be able to grow them and, and share, you know, how we do things, but, so the kind of person that I’m looking for is great attitude and wants to grow. And the reason why is because this is such a great industry that I don’t want somebody just to be stuck as an admin. I want them to grow, to do whatever they want. So if I’m talking to somebody and I say, hey, sometimes there’s deadlines and you know, you might have to stay late an hour. Um, of course, you’ll be compensated. Is that going to be a problem? If I hear any hesitation, I know they’re probably not for our team. So, I get that out of the way before I even hired them because I don’t want to surprise anything. And to be honest, Mark, this industry is not for everybody. It is high-stress. Sometimes high pace. You have to move at a certain speed. So it’s not for everybody, and that’s okay. So, it starts there, and I can give you two great examples of people who are with me today that started as an admin, and that’s where I start everybody as an admin, front desk, or um, actually inputting clients information in our database. So, there’s two starting points there if There’s no mortgage interest, um, experience. And so Tatiana was, uh, our admin and stellar. I just knew, I said, you know, you’re going to really go places one day. And she decided that she wanted to be a processor and a loan processor in our industry is someone who takes the file. Once the client finds a property and they’re already under contract. So we just have to close and make sure everything’s done. She’s amazing. She was just. She was just one of those unicorns that just knew a lot and, and was really great with people, always had a smile, and very smart. And so she decided to not go the sales route in our industry. She decided to go, you know, the operation side, which is today. She’s one of our underwriters. She’s the one that actually officially approves the loans and signs off on everything. And that is an amazing uh, career choice and job in our industry. And then, and she’s amazing. And she’s only 28, so she’s very young. I know. And then, uh, another great example is Gloria. She also started at the front desk, and right away, I just knew too, like, you’re, you know, you’re going to go places. And, uh, so she went the sales side, which is you’re talking to clients after they make application. You’re figuring out, you know, what loan program they’re going, we’re going to put them in. Teeing me up for a great meeting with the client. And then just really knowing loans, like, you know, figuring out that, oh, they can’t do this because, you know, they have this issue. So, we’ll put them in this program. It’s like a puzzle when you’re trying to, you know, preapprove a client. And so today, she’s my team captain where she trains the other people under her, as well as holding a pipeline. And she’s told me before, yes, Julie, I want to, I want to have your job. I want to be a branch manager. I said, yes. We’re going to get that. You’re going to have your own branch one day. So that to me just makes me very happy.
MARK WRIGHT 23:04
And for people who don’t know the loan industry, um, there is so much to know in terms of loan products and the process and all the financial information that you have to gather, and the rules are always changing, and I, it was really an eye-opening experience for me, Julie, when I worked in your office, that all those backend people are so instrumental in making sure that that loan closes on time, because if the loan doesn’t close on time, it can jeopardize, uh, you know, somebody’s dream home and, and they won’t get the, won’t get the deal. Julie, for people who don’t know anything about the mortgage industry, and maybe they’re thinking about buying a house for the first time, what did, can you go through the process of getting a mortgage? Just from just a very basic…
JULIE JOHNSON 23:45
Sure. Absolutely. Uh, first of all, when people thinking about getting a mortgage, they’re thinking about going oh, maybe I should go to my bank and see what the mortgage rates look like over there or what that’s like. Um, any really good referral partner, like a real estate agent, CPA, or a financial advisor would not advise you to go that route. And the reason why is banks are great, but their number one objective is checking accounts. So, they’re selling you lots of different things where they may have a mortgage department. And why that be, that can be chaotic is because that’s not their main focus, right? So, the first thing a client wants to do is make sure that they talk to somebody who’s truly had a good experience with a company. And real estate agents are great options because they do this all day. They know who the good loan officers are or the good companies. So that’s a great way to find a lender. And then, so if I’m being referred by a real estate agent, the first thing I do is get on Zoom with them for 15 minutes so that I can figure out, hey, what are your goals? Where do you want to buy? You know, what budget do you think your monthly payment is going to be? You know, you know, what purchase price do you think you’re going to get to? And then ask them all the fun questions too. You know, like, do you need, are you having kids, or do you have kids? How many bedrooms do you need? Because it is a fun and exciting thing when you’re buying a home. It’s really one of the wows, right? When you’re maybe graduating from high school or college, getting married, buying a house, it’s really part of the life journey. So, we try and make it very exciting, you know, for the client. And then the next thing is really just an application. Um, some people, we take it, you know, either right there on that, on that meeting, or there’s an online application. And then what happens is lenders try and figure out, you know, what’s the best program. So, if they’re a first-time home buyer, there’s tons of first-time home buyer programs that they may qualify for. Now, if somebody makes too much money in Seattle, they’re A lot of people will make really great money. They don’t necessarily qualify for that, for any of those programs, but a good lender will double check all that and make sure that, you know, that if there is something they qualify for, that we’re going to present that to them. And then what they really need to do is they need to meet face to face with their lender loan officer, whether that’s on Zoom, preferably in the office, because this is the biggest expense they are going to have at that time. It’s really important to see somebody face to face and go over this. So, a good lender is going to show them all their options. Um, the kind of information at that point we have is we have the W2s, right? Because lenders need to see, uh, the last two years’ history, lenders need to do a credit poll to see what the credit looks like the FICO scores because interest rates today are based on your credit score, your loan amount, your debt-to-income ratio. So, lenders will prepare all that and then structure that and present that to their clients. So, the goal is they’re going to come out of that meeting feeling like they understand what their payment could look like, and they understand all the money that they need to purchase a home. So, there’s no surprises. And then probably one of the most important things is a good lender needs to tell them, hey, here are the do’s and don’ts. So, if you’re serious about buying a home, please don’t quit your job because it’s really important. You’re in your job during this process after closing. It’s weird, but it doesn’t matter. But during this period, you have to keep your job, you know, don’t spend your down payment, don’t apply for new debt. So that is really the whole, you know, synopsis of how it works. It’s really important that they speak to somebody, and they get some face-to-face time.
MARK WRIGHT 27:23
Julie, right now, a lot of people are sitting on the sidelines, both sellers and buyers, because interest rates are higher than they’ve been in a while. I’d love to know, you talk with industry experts almost every day. Um, what do you, what, what are the experts saying about where interest rates are headed in, in the near future?
JULIE JOHNSON 27:40
That’s a great question. And I have this conversation probably every day when I speak to clients. And so, uh, in October of 2023, interest rates peaked to 8%. Today, they’re in the high sixes. And that was a short period when the rates, when the, that the rates drop, and that is really not normal. Usually, it takes, you know, it takes a while for the rates to go down and it shoots up, but it’s, it’s an interesting time. But the predictions right now is that in, and right now they’re in, yeah, they’re in the high sixes, but the predictions for Q3 in 2024 is that the rates are going to be in the low sixes. And then in Q, no Q4, it’s going to be in the high fives. So that’s where the predictions are. And here’s what happens, Mark, when there’s his, there’s, um, you know, whispering of the rates dropping more people start to apply, right? And when there’s more people applying, that means there’s more offers made on homes. And as you said, the, there’s not much inventory. So that drives up the price, right? So, I always tell my clients that, the sooner you buy, the better because you can preserve the purchase price today because at the end of the year, the prices are going to go up, but the interest rates are supposed to go down. So, guess what? You can refinance and lower your payment. So, when you’re buying the home, you’re freezing the price. But you can always change your mortgage interest rate in the future. So today, uh, Mark, we have three rental properties, an Airbnb, and a primary residence. Every one of those properties, we’ve refinanced at least twice, some of them more than that, because when you own a home, that’s part of the process is you need to listen for interest rates dropping to see if it makes sense to refinance. And then another thing is that, you know, Historically, real estate is like a 10-year cycle, right? And here’s what I’ve heard, and it completely makes sense. And this is history. So, in 2020 and 21, you know, that was COVID, and the prices started to skyrocket like crazy because we had those really low interest rates that were artificially decreased, right? 2023 and 22, the market corrected, corrected. You know, it started to like, okay, let’s correct it a little bit. We still had appreciation, which is interesting, but it wasn’t drastic. Well, if you’re buying in 2024 or two, 2025, you are at the bottom of that 10-year cycle. So, what that means is potentially, after 10 years of buying in 2024 and 25, you will double your value. Interesting, right? And this is history. So, if you research this, this is what happens. There’s an interesting jump in values, then the market corrects, and then it starts to shoot up again. So, if you buy five years from now, you won’t have that same appreciation after 10 years because you’re in the middle of that 10 years. Hope that makes sense.
MARK WRIGHT 30:42
It does. And a lot of people, you know, as we talked about, we’re sitting on the sidelines now because if they sell now and they have to buy in the same market here, there, it’s still a limited inventory, and interest rates are still high. So, it’s kind of a, a double whammy. But, uh, like you said, if you, if you buy now, at least you’re locking in the price, which almost inevitably is going up as we go through this market.
JULIE JOHNSON 31:04
We’re in a great area here. I mean, Seattle is amazing. Look at all the companies we have. It’s a beautiful area. Yeah. It’s, it’s going to keep going up.
MARK WRIGHT 31:13
I’d love to talk a little bit, Julie, about your overall approach to life, because you talked early on about kind of not being a whole person, and what struck me about you when I first started to know you is that you really have a commitment to complete health. Uh, spiritual, physical, you know, you have, uh, a really, uh, strict, in my opinion, uh, workout regimen. You meditate, you do yoga. You really have this commitment to being just this balanced person. I’d love to know, when did that start to evolve? Because it really does shape who you are in all aspects of life, including work, right?
JULIE JOHNSON 31:52
Yes, it does. I think that if, if people really want to get great in their career, they have to work on self-development, and that’s everything—body, mind, and soul to be that best version of you, and so yes, um, my regimen is pretty strict. Uh, you know, I wake up very early in the morning this morning, to be honest, Mark, I did a cold plunge. Um, I have a, I dragged my husband, come on, honey, we’re going to do a cold plunge. It’s five in the morning. And I tell you, like, that cold plunge is a game changer. Um, it is really amazing. It puts you in this annoyingly good mood, right? I knew I was going to see you today. I’m like, oh, I want to be in a really good mood. So, I did the co plunge. I went to the gym. I go to a 6 AM class Monday through Friday, where I’m working with weights. Weights are important. I’m working on that because of longevity because I want to be around for my grandkids, right? I want to be here a long time. And then, yes. And then, um, you know, mindfulness for me is really important. And I’ve had to learn this throughout the years that I really have to control my mind. And if I start to think about things that are negative, which is normal, because you know, our mind is there to protect us too, right? Um, but I know that I need to really make sure that I’m exercising my mind. So, what that means for me is I’m trying to listen to great podcasts like you, like yours. I’m trying to, you know, uh, have great conversations with people I admire, and I’m really preserving my energy. Another thing that I do is on social media. I don’t follow negativity. I’m looking for positive things. I really, really just want to surround myself with this force of energy. It doesn’t mean I’m burying my head in my soul, but my husband would say, could say that I do, but if I really need to know something, I’m sure I’ll know. But yes, that is really important. So, body, mind, and soul meditation is important. Breathing. I, I, I’m, I’m very much dabbling in a lot of, you know, longevity things and supplements and things like that, because I just want to be the best version of myself is probably the best way I can describe that.
MARK WRIGHT 33:59
Yeah. Yeah. Well, it’s really apparent. You, you’ve always had just this healthy glow about you wherever you go and that doesn’t happen by accident. Um, I’d love, I’d love to explore a little bit more. One thing that struck me about when I met you and your husband is you really have, uh, an abundance mindset and a gen, a generosity mindset. Um, you, you invite people, you know, on your boat, you invite people places, and it’s just a, it’s a mindset that I think more people could learn from in terms of, you know, It seems like a lot of, times in business and in life, we’re worried about where’s the money going to come from and that’s we focus so hard on that that we kind of lose sight of who we are in the process. How did you come to that, that abundance mindset and that generosity mindset that just seems to pay dividends?
JULIE JOHNSON 34:50
Right. You know, Mark, I’ve journaled for a very, very long time. I mean I can go back to my journals when my son was two years old. And so, I’m, uh, I, that’s one thing that I do to journaling, and when I journal, I’m focusing on a couple of things. I’m focusing on what I’m grateful for, like talking about even the mundane things. And then I’m also writing things about what I want the future to look like. So, so if I’m presently wanting to, you know, to, to do this or that in the future, I’m going to write about it. Like, I want to do this. I want to do that. I’m doing this, I’m doing that. So, I learned all of this quite a long time ago, where I know that it’s really important to have abundance mindset again, to surround yourself with people who, you know, you want to be like, or have that energy. And it’s really, it’s a game, it’s really a game changer. It really, really is. And so, you know, And it’s still practice. It still takes time because I can get into a mood that’s, oh, you know, oh, I’m in a bad mood, but I can correct myself right away, right? And so like, for instance, in the mortgage industry, when it was really, you know, it was really down for the last year and a half, you know, my mantra was there’s more than enough business for all of us, right? There’s more than enough for everybody. And when you say those things and you feel it, that becomes your reality. You know, that really an energy. You know, tracks good energy, right? So, for instance, uh, you know, when I have clients or when I have referral partners or employees, I have a whole list of what I’m looking for. So, for instance, my ideal referral partner is someone who loves my team, who trusts me, you know, who refers me hard, you know, who, uh, who, who loves to spend time with us. You know, there’s a certain type of people I want to work with. And so, when I have that list, when someone comes my way, I know that they’re not for me, right? So really trying to tailor my business to how I want to live has really helped me a lot, but have living in scarcity is not the right thing to do. You need to live in abundance, but we’re all human and we’re going to have those thoughts so that the goal is to catch it, catch it and just reset. Maybe listen to a podcast that you like, maybe pet your cat, anything that makes you happy. Those are my little tricks.
MARK WRIGHT 37:07
Hmm. When we sent a questionnaire to you, you know, we talked about how we’re trying to redeem work, the word, the place, and the way, and we talked about the place and the family, uh, you know, sort of atmosphere that you’ve built in your business. And when we talked about the way, when we asked you about the way you talked about, your team, how it collaborates and streamlines tasks by creating processes, and you have recurring meetings and check-ins. Talk about Julie, if you would, how you refine the process. There are so many moving parts in the mortgage industry. How important is that to have those regular sync meetings and to have input from, you know, sort of 360 input from everybody on the team.
JULIE JOHNSON 37:47
Right. In today’s world, there’s, you know, we have remote employees, right? And we have people that come in the office. So not everyone. Everyone comes in the office. It just depends on the job. But it’s really important to still engage to have meetings. And I’m for I don’t like long meetings where you’re really, you’re not getting to the point. Like my philosophy is if I’m going to have a meeting, they better, it better be impactful, right? So, we have a team meeting every morning, um, at 9 AM. Some days it’s a little bit later, just depends on the day. And that’s where we talk about all of our clients that need our help. And we learn from that meeting. So, it’s a good meeting. And It’s interesting because the person who is has been here the least actually leads that meeting, so they grow quicker because they’re leading that meeting. And so, yes, processes are very important. It’s everything is in writing. We need everything in writing because you just can’t assume somebody understands something, right? You just can’t. Um, I don’t know. I think Brené Brown said this, uh, clear is kind. You have to be very clear with what you want. You just can’t, you know, when someone tells me, oh, this employee is not working out for me, you know, they didn’t do this and that. My first question is, did you, did you tell them what you wanted exactly? And did you tell them, did you tell them how you wanted it done exactly? And most of the time I’ve, I see that they didn’t, right? They just expect our, our employees to read our minds. And that’s not true. You just cannot assume that even our spouses, you can’t expect that, right? So, everything has to be in writing for sure. And then we also have weekly meetings where I just, we just call it training with Julie. That’s where everybody gets up for 15 minutes. The only thing we’re talking about is how to do a better job for our clients. You know, what can we do extra to help them talk about, you know, do we need to tweak, you know, our phone conversations? What’s something that we can do that’s extra special for our clients? So, you always have to be training no matter what, because you can’t assume that everybody still gets it. Because when you’re in a job, I mean, it can get mundane, right? So, you have to spread that energy. You have to always talk about giving great client care. So, we do that on a weekly basis and some meetings on a, on a, on a daily basis. And then we also meet after work and do happy hours. We just did one last week where we got, uh, you know, a few other branches in our region and the employees that are local here, we had fun, we had good food, we hung out and we just hugged each other, right? And, uh, we also do retreats where, um, well, we try to do two, but at least one a year where we all go together and, you know, we spend the, the weekend hanging out. I usually bring in, like, a yoga teacher who can teach all of us. We go hiking like this is we spend more time with our employees than anybody. So, we really need to enjoy the people. We need to help them. You know, um, I, I think I was, you know, born to be a mom and that’s why I kind of carry that here, right? I treat my, I try my best to treat my employees like a, like, you know, like they’re one of my kids. I want them to be educated, right? I want them to have good things. I want them to grow. So, if I treat them like my kids, then they’re gonna grow.
MARK WRIGHT 41:00
Julie, I’d love to ask about social media because I noticed in my time in your office. You really have a robust presence uh in social media, what, what is your philosophy on social media as it relates to your business?
JULIE JOHNSON 41:13
That’s a great question, Mark. So, uh, I really didn’t like doing videos before, to be honest. I didn’t like social media very much. I like looking through it, but I’m actually pretty shy, and I would rather be behind the scenes. But what I knew is that the world is changing. And, uh, you know, everybody needs to somehow be on there if they want to have a brand and some type of presence. So, I dug in deep. So, I took a class. I’m part of a mastermind where we meet, we, uh, meet, you know, on Zoom once a month, and I learn more about it. It’s, it’s a very, you know, it’s a, it’s an interesting industry because it’s changing all the time, the algorithms and what you have to do. So, but mainly if you’re a lender or in any field, really like, it’s kind of like your brand, right? So how, if you’re looking for to work with a plumber or somebody, you might Google them. Oh, are they around? What are their reviews? Well, today it’s like that, but it’s also, let me see if they’re on social media. You know, what are they doing? You know, do they, are they really a loan officer? How long have they been doing this? So, in my field, uh, if you could think about a hand with all the things I have to do to make my business work and the palm being the most important, it’s here, it’s a pinky. So, it’s still part of my business plan. And how I focus on it is that I’m talking to a first-time home buyer. So, you kind of pick like, you know, am I talking to investors? Am I talking to first-time home buyers, resale clients? For me, I’m really just talking to that first-time home buyer who knows nothing about it. So, I’m giving very, very, you know, um, simple, simple tactics to help them if they want to buy a home. And then talking about some of those words that seem pretty heavy, and you know, bringing it down so that people can understand it. So, my focus is helping that first time home buyer, um, purchase a home because there’s a lot of information out there. And I felt like in our industry, there’s not much, there’s not very many people out there. Um, if you’re a real estate agent, it’s very important because, and you get to actually go to the houses and give tours, right? But just the same way as a lender can have it, right? For branding, it is even more important for real estate agents. So, it definitely has to be part of their plan where people can see that they actually have a business. I can give you an example of a really good social media star. And she started in social media when she was 13, and she has over a million followers uh, I think 1.5 million followers on YouTube and everywhere else. Well, she decided to be in the, get into real estate four years ago, and she’s already outproducing so many people because she has a presence on social media, and I get to work with her. I’m so lucky. But literally, she has two really cute dogs and people, she brings that aspect into her social media and because people like her job, her dogs, and how she works with her dogs and how she golfs and has all these fun activities, they want to work with her. So that’s really what it is today, is people want to know who they’re going to work with. They want to see if they’re going to like you or not. If they drive with you.
MARK WRIGHT 44:18
Yeah. And I’ve noticed from your social media posts, it’s not just, hey, I’m on social media, you’re actually giving information like, you know, here’s, here’s an aspect of loans that you need to know. And so, it’s, it’s actual content that has value, not just, hey, I’m on social media.
JULIE JOHNSON 44:32
Exactly. Yes. I, I’m talking to that first-time home buyer. I’m trying to educate people. And then I’m also trying to show a side of me like, hey, this is me at the gym this morning. You know, um, I did this workout. It was tough, right? Or, or little things like that so that people know, you know, my personality, but then I do loans.
MARK WRIGHT 44:49
Yeah. What about digital marketing, Julie? In the mortgage industry, how important is digital? Because in most other industries, people are searching on their phones to find a lot of different services. How, how important is digital in your office?
JULIE JOHNSON 45:04
Yeah, it’s important. We have websites where clients can go to and click on, you know, click to get information, which they can also see on their phone as well. But I think it’s, it’s still really important, but I really believe that social media is even more important because it’s really about your brand. So, for instance, you know, CrossCountry Mortgage is an awesome, great company, but it’s just me out here, right? So, I have to put my voice out there so people can find me. But if for digital marketing, if cross country, they’re going to go to anybody else out there, you know, whoever is, it happens to be on the website, but for me, I need to build my brand, and it needs to be on social media.
MARK WRIGHT 45:44
That’s fantastic. Um, just about ready to wrap things up with you, Julie. We’ve taken a lot of your time. Um, I’d love you to fill in the blank on a couple of questions. The best mortgage lenders blank, like give me a definition of what the best mortgage lenders do or who they are.
JULIE JOHNSON 46:04
The best mortgage lenders are interested. They’re not interesting. So, what that means is, they’re really trying to seek, you know, what their client really wants and what their goals are, and they have to be interested in them more than the mortgage itself so that you build that connection.
MARK WRIGHT 46:26
Yeah. And the best real estate agents fill in the blank.
JULIE JOHNSON 46:30
Ooh, that’s a good one. Let me think here. The best real estate agents, there’s a couple of things, are great negotiators, and they have a great attitude. Being in Seattle, you know, clients are losing out on deals right now. I see it all the time. And it’s not easy to, you know, to tell your client, I’m sorry, but you’re going to probably, if you really want this home, you probably have to bid 200,000 above the list price. And that’s really hard for somebody to say that to somebody. But if they really want to win the home, and if you’re buying in Seattle proper, right, or Kirkland or Bellevue, that, that’s what you have to say. So, when I say negotiate, I don’t necessarily mean negotiate with the seller. I mean, negotiate with your client, and tell them that, you know, if you don’t up your price, right, you’re not going to win the home. And that’s not easy. And then the attitude part is about making sure that you’re being uplifting your, it’s almost like, I think real estate agents tend to be therapists sometimes because it’s very emotional when you’re buying a home. And when you don’t get the house, it can be emotional too, but keeping it upbeat, you know, really caring for your clients is super important.
MARK WRIGHT 47:41
And I know a couple of people pretty well in the real estate industry, and it really seems like they say the best mortgage lenders keep them in the loop. And there’s great communication between the lender and the realtor because the mistakes happen, and the ball gets dropped sometimes if somebody doesn’t communicate. And if that’s why, you know, that’s observing you, Julie, that’s why you have such great relationships with realtors because that, that communication and that constant keeping everybody in the loop is so important to the process.
JULIE JOHNSON 48:12
Yes. So, so, what you just said is our baseline job, you know, so that’s our job if we’re not communicating. Um, in fact, Tuesday updates is my theme day where I’m communicating with all parties, giving them an update as far as clients who are under contract. So that’s where I call the listing agent, the buyer’s agent, and just talk about what’s going on because they need to report back to their seller, right? And then I also want to make sure that they don’t have to worry about anything, and they can just go out there and take care of other people because I got this. So, communication is part of our job. It’s not extra.
MARK WRIGHT 48:48
Yeah. Julie, is there anything else that I haven’t touched on? Um, if somebody’s thinking about maybe getting into the mortgage industry, what advice would you give them?
JULIE JOHNSON 48:57
Uh to have a little bit of money saved up first. It, it depends where you land. So, there are companies that you could have a salary. And you could maybe start like, you know, maybe you could start at a bank. It just depends. Um, because there is a salary and maybe a little bit of commission. Uh, but if you really want to be a loan, a loan officer, you really need to start where you understand what, how to, you know, pre-approved clients. And typically, today, loan officers do both. They understand, you know, how to preapprove clients and they also know how to connect, and they have to go out and get the business. Um, but if, as long as you have a good attitude, and you, you have some money saved up. This industry can change your life if you’re surrounded by the right people.
MARK WRIGHT 49:41
And I have just one final question. Maybe somebody is not in the market to buy a home today, but they want to get positioned from a financial standpoint. They want to get positioned. What’s your best advice when it comes to credit scores and debt and all that kind of stuff? What, what do you tell prospective clients?
JULIE JOHNSON 49:58
That’s my favorite call. So, when I have a client that calls me and says, Julie, I don’t know what I’m going to buy. I might buy next year. I might buy in two years. I say, let’s look at the numbers now. So, what they need to do is work with a lender that can do a soft credit pull. That way it won’t cause a hard inquiry. And then also. go through the pre-approval process, even with that soft credit pull, because a good lender will be able to analyze the information and say, well, right now you qualify for this. But if you, if your goal was to qualify for this, you need to save up a little bit more money. And so, a good lender is going to put a plan in the future. For that client, that is probably the most thing, is know your numbers, even if you’re not buying for a year, and two, and maybe there’s something on their credit report that they didn’t even know existed. Well, it’s better to get ahead of that now so that we can actually take care of that. And we have tools to help our clients get their credit scores up. So, I say, look, no lender, that’s going to help them today, even if they’re buying in the future.
MARK WRIGHT 50:57
Well, Julie Johnson, CrossCountry Mortgage. It’s been so nice to catch up with you, my friend.
JULIE JOHNSON 51:02
I miss you, Mark.
MARK WRIGHT 51:04
Oh, I miss you too. We’ll have to have lunch one of these days, but it’s so clear that you’re redeeming work in the way that you show up in the world, the way that you treat your employees, the climate that you create within the office, and how you treat customers. I mean, clients, it’s, it’s so apparent. And you know, it’s no accident that you’re as successful as you have been because You’re doing it right. You’re doing it right. It’s been so, so inspirational to watch, Julie. So, keep up the great work, and keep in touch. Thanks for being here. I’m Mark Wright. Thanks for listening to BEATS WORKING, part of the WORKP2P family. New episodes drop every Monday. And if you’ve enjoyed the conversation, subscribe, rate, and review this podcast. Special thanks to show producer and web editor Tamar Medford. In the coming weeks, you’ll hear from our Contributors Corner and Sidekick Sessions. Join us next week for another episode of BEATS WORKING, where we are winning the game of work