Residential Magazine

Randy Masters, Masters Team Mortgage

No. 7 Top Mortgage Brokers (2019)

By Jim Davis

Randy Masters spent part of his career as a motivational speaker, getting on stage in a room full of mortgage originators to tell them how he earned his business and how they could grow their own. His message: Care about the client.

Some of the faces in the crowd took his words as the sales pitch, the script to use when talking with clients. Masters would try to get them to understand that it was simpler than that. If you care about the client, treat them like your friend and put their needs ahead of your own, you will grow your business. He said he uses the same advice for his own company, Masters Team Mortgage, based in Folsom, California.

“We really care, truly care about people,” Masters said. “Not just pretend we care or salesmanship that we care but truly make sure we have their best interest at heart. That’s the critical thing.”

This approach has helped Masters create a successful career in the mortgage business. In 2019, Masters closed 459 loans for $183.2 million in volume. Masters placed No. 7 in the nation in Scotsman Guide’s Top Mortgage Brokers rankings. He also ranked in the publication’s top 100 for Top Dollar Volume (No. 73), Top Refinance Volume (No. 41) and Most Loans Closed (No. 92).

When Masters works with a client, he said he feels his job is to provide service and guidance. So, Masters asks a lot of questions to understand his client’s goals and motivations.

“Why are you thinking of moving? ‘You know, well, we want a pool.’ OK. Have you thought about building a pool?” Masters said, playing out a scenario. “Most people would go, ‘Great. Let’s get you moved and get you into the new house.’

“I’m always looking at what their needs are. My job is to really help them.”

Since he started in the business more than 30 years ago, Masters said he has had more than 3,800 clients return to him for their mortgage needs. And he said he has always had an entrepreneurial bent. As a kid, he would pick peaches from a tree in his backyard and go door to door selling them to neighbors. He put himself through the University of California, Davis, by selling mobile homes with a lease-to-own option. 

After college, he wanted to go into commercial real estate financing, but he didn’t find a job. Instead, he went to work with a residential mortgage broker. He quickly hit the ground running. At one of his first stops, he was doing so many loans that the company had to extend its loan production leaderboard. Masters hired an assistant out of his own pocket to help him to do even more business.

Don’t tell somebody something that you don’t know for sure.

In 2007, Masters struck out on his own and created Masters Team Mortgage. Six years later, he reached outside of his comfort zone and rode his BMW 1200 motorcycle on a 13,500-mile trip along the Pan-American Highway to Ushuaia, Argentina, at the southern tip of South America.

He continued to run Masters Team Mortgage during the trip, working with clients from the road despite spotty phone and internet service. He said he enjoyed the challenge of the work, as well as traveling and meeting people. Before and during the trip, Masters raised money for six orphanages and stopped at each for several days to meet the children.

“I didn’t want to do it for the hell of it,” Masters said. “I wanted to do it to make it matter.”

His advice to up-and-coming originators or people new to the business? Connect with others by writing notes, sending emails and taking calls. That’s one part of the equation, Masters said.

The other is to thoroughly understand loan products, get into the details and delve into the math. An originator can only offer good advice if they know what they’re offering.

“Don’t tell somebody something that you don’t know for sure,” Masters said. “Don’t sell — only consult and advise. Don’t look at your own needs, that you need to close a deal. Always look at what their needs are. That’s the only thing that’s important.” ●


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