L.A. Land profile: Kal Wayman, "Not your mother's mortgage broker"

Who remembers Kal Wayman from the early days of this blog? Uncle Billy, you remember Kal, right? That's him pictured, partying recently at the Playboy Mansion in Holmby Hills.

Here's the back story: in May 2007, I wrote a snarky post about Kal, an Atlanta mortgage broker and party promoter who came to my attention because he used a babes-in-bikinis video on YouTube to promote his mortgage business.

After I climbed on my high horse and labeled the video "disturbing," a surprising thing happened: Dozens of Kal's mortgage clients came on the blog to comment in his defense. I learned that he had lots of clients who were remarkably loyal to him. This little chapter taught me a valuable lesson -- often a blog post is just the beginning of the story; the readers write the ending.

But that's the back story. The reason for this post is that Kal was in L.A. recently to party with Hef at the Mansion. No, I didn't go. But I did have lunch with him and one of his L.A. clients, and was so impressed with his marketing skills, and enthusiasm, that I thought he might spice up a dull day on the blog (falling prices, no sign of a bottom, falling prices, no sign of a bottom, etc). So I invited Kal to share his ideas and insights on marketing and building a mortgage business that targets younger borrowers.

Here's a teaser, with more below: Kal says one of his most successful marketing efforts was very old-fashioned: he printed 20,000 matchbooks advertising his business, and delivered them to the hottest bars and nightclubs in Atlanta. The word of mouth continued long after the matches were gone, he says. "As a matter of fact, I was at SkyBar in Los Angeles last year," Kal told me, "and two girls screamed out, 'Hey Kal, where's your matches??' "

Here's more from Kal on how he went about building a personal brand in Atlanta:

I have done all kinds of advertising -- television, radio, print and online. When it comes down to the most effective forms I've used, it is out-of-the-box guerrilla tactics. ... For example, I had a phone number called "Kal's Party Line" -- You would call it to find out where the party was, and at the end it would say, 'If you need a mortgage or refinance, call Kal." At its peak, it would receive 4,000 calls a week.

I created matchbooks and gave them out to bars in Atlanta. One side had my face and the other side said, "Got Mortgage? Call Kal!"  I spread 20,000 of them around bars in the city of Atlanta.  I still go out and find them ... People come up to me and say, 'Hey, you're the Matchbook Mortgage Guy!' As a matter of fact, I was at SkyBar in Los Angeles last year and two girls screamed out, 'Hey Kal, where's your matches??' "

I use MySpace as a huge medium for my advertising as well. ... I have my infamous commercial on there, and my MySpace friends know me as "Got Mortgage Kal." You already know about the commercial on YouTube -- I still receive calls from as far away as Canada and Great Britain.

I'm also the main mortgage broker for FSBO.com ... You know why? Because I met the president out at an event, I did his mortgage, and now we're friends. A good example of how going to restaurants, bars and clubs can really get you business if you do it tastefully.

People always ask me how many people have called you for a mortgage after they pick up your matchbooks? Or has your YouTube commercial brought you business? Or was the Party line ever responsible for someone doing a refinance through you? Do you really get clients by going out to clubs? My answer is, yes, of course. ... Tens of thousands of people know me from my antics and they always think of me as "that mortgage guy." The first thing they think of when they think of buying a house or refinancing is, 'Oh yeah, I'll call that Kal guy!" Especially in this declining market, my business has increased substantially.

My tactics may have been out of the ordinary, or weird, or controversial to some -- but people know who I am and what I do. It's kind of like the movie "Troy," where the little kid tells Brad Pitt he would never risk his life against the barbarian, and Brad Pitt says, "That's why no one will ever remember your name."

I've gotten the same type of publicity that a several hundred-thousand-dollar advertising budget would produce. I do it at a fraction of the cost and have fun at the same time. I never feel like I am working. I am just a loan doctor on call, when people who have heard about me need my help.

My niche is people from age 24 to 38. They are usually fun, social people. A lot of them are first-time home buyers that want to use a friend they can relate to, as opposed to a banker in a suit. I can wear a suit with the best of them but I can show up to a closing in jeans and a t-shirt, and my clients are much more comfortable. ... Although I deal with younger adults, the majority of them have relatively high incomes. There is a huge group of movers and shakers out there that financial professionals do not focus on. ... My motto has always been 'Not your mother's mortgage broker, but probably your daughter's."

Kal Wayman works for Atlanta-based Amerisave, a direct lender licensed in all 50 states. How does he end up with clients in Los Angeles? In this case, the client found Kal through www.mtgprofessor.com, the site run by Jack Guttentag, which designates Amerisave as an official "upfront mortgage lender."
The designation is given to lenders that -- in Guttentag's judgment -- disclose fees up front and guarantee them, and allow borrowers to price their specific loan on the Internet.

--Peter Viles
Photo Credit: Kal Wayman

Comments

[Alex]

As Vice President and Managing Director of an $80 million international advertising and marketing company, I can tell you without reservation that Kal Wayman is truly an innovative, intelligent, and compelling marketer. Furthermore, he is one of the most friendly, genuine, attentive, responsible, and ethical business people I've encountered in a long time. It is a shame that there are people out there so quick to condemn his unique approach and style to self promotion. Here's a guy who's found an overlooked market niche, a way to sell premier products and services, a way to live a balanced life, a way to love his job and achieve great success in the process. Who is anyone in the financial sector or otherwise to pass judgment, especially when it seems to be based primarily on their own ignorance and jealousy? It's such attitudes and closed-minded thought processes that will prevent these individuals from ever rivaling the level of achievement, self fulfillment, and lifestyle that Kal enjoys on a daily basis. Keep the vision alive, Kal. I'll call you when I'm ready to re-finance one of my properties.

[mark g]

Pete,

Kudos to you for reversing your initial snark against Kal... for some reason people see the "party dude" and resent him on face value... he is the younger version of "Go see Kal, go see Kal, go see Kal!"

[Frankie Kraft]

I have to say Congrats to Kal. I also have done business with Kal. I am, lets say "over 40". I felt that he was very professional. He has found a way to reach an era of individuals that many other people have ignored and I see nothing wrong with how he is doing it. I feel that some people are just jeolous that they didn't think of it first. New minds, younger people, new talent, new thinking, challenging. Great job, Kal. You still have my support.

[TakeFive]

Watch the video of Leo Nordine. Going by Leo's demeaner, you'd think he was a slighly buzzed surfer. Yet the guy is astoundingly hardworking and successful.

Could be the same way for Kal Wayman. That said, because of the attached picture I am unable to resist posting this :

http://www.hotchickswithdouchebags.com/

[Krish of Mindset Atlanta]

I am an acquaintance of Kal's via Atlanta's nightlife scene. I have run into Kal on numerous occasions and have been able to see, first hand, how much impact his business and strategic marketing has made in this rapidly growing city, and in such a cut throat business. The housing and lending sectors have had such a horrible year, but it's quite refreshing to see such a young and energetic individual that cares about his clients. I give Kal, his business, and his marketing two thumbs up.

Keep up the great work!!

[Erik Di Somma]

In today's society, getting the word out is tough. With the introduction of TIVO, DVRs and satellite radio, the amount of choices is multiplying by the day and the viewing/listening audience is becoming more and more discriminating. People can now afford to be selective with what they choose to enjoy, and that has taken a huge toll on advertisers. The value of the advertising dollar has been cut in half, at best, and those who stay alive in the advertising world through short-term economic downturns need to be more than smart--they need to be creative. That's what Kal is.

Kal's unconventional marketing strategies are tasteful and verifiably effective. Though social networking alone, Kal leaves a lasting memory in the minds of his prospects long before they even pick up the magazine in which his competition has fought for that perfect quarter-page ad.

The infamous TV spot:

As a former TV producer (I produced a show for 7 seasons on CNBC, Bravo! and TechTV; one on The Health Network; and, I've written Video News Releases for over 100 DMAs), I've learned a successful TV campaign MUST engage in your audiences emotions, almost to a dangerous level, in order to leave a lasting impression. This is precisely what Kal as done with his TV commercial. As a long-time believer in this approach, and now a marketer of my own TV product, emotional marketing has proven itself effective with my business, just as it did with Kal's.

In summary, there's no science in figuring out why Kal has done so well, in spite of what some critics say. I know that being new to Atlanta, it won't be long until I'm ready to buy another home. ...Bet you know where I'm going for a mortgage!

[Hangemhigh]

He's wearing leather pants...... Haven't seen that since the 80's...

[Global Advantage Credit Solutions]

Our company and Kal Wayman have been doing business with each other for almost 2 years. He has been a great referral source for us, and he is doing some creative thinking by helping his potential borrowers become clients down the road.

When you have a client database like he does, a more than busy schedule, and a marketing program that takes up even more time, and you STILL try to help people who can't get approved because of their credit scores, you area very respectable person.

Kal thinks outside the box with his "guerrilla tactics", not only to help his sales and his clients, but to help people who he might never have become a client.

All these negative posts about him and his company and his marketing are ridiculous. You can call him young and unprofessional based off of one picture that you see on this article, but you are completely wrong.

He is doing more to help the economy and the housing market than most, so maybe you should jump on that train with him.

-Kyle Gilbert

[Oh boy]

It's hillarious to read the comments here in LaLa Land. The hypocrisy, pseudo-intellectualism and self-righteousness is stunning.

You haters have no idea if this guy contributed to the problem, no idea what kind of loans he wrote and absolutely nothing more than what the article states about his marketing practices. Seems like he's done a great job of differentiating himself to me.

For the record, I'm an equal opportunity critic of both the RE industry and the idiots who indulged in excess at the expense of the responsible but admire the savvy and ingenuity here. A lot of you here are pro-capitalism when it benefits you and commies when it doesn't. Get a life.

[keith]

WOW!!! He's brilliant, using the club scene to drum up business. That's never been done before, especially in LA! How avant garde.

[MonicaS.]

I have to laugh out loud at the negative comments on this blog! Obviously you are either envious of Kal's amazing success at the age of 26, have been burned by or lost money in the mortgage business or you are just showing your ignorance. My advice to you? You should humbly apologize to Kal and ask him to mentor you in business and / or social skills!

Kal is not only revered in Atlanta for his amazing marketing talent and his mortgage success, which was built by clients who are repeat customers, many of which are the most financially savvy movers and shakers in the business world, but he is also a man who you would have a hard time finding anyone who has come in contact with him, either in business or socially, that would have something negative to say about him. How many successful business men, much less mortgage brokers, can say the same?

Take notes people; it will profit you more than casting stones.

[Dr. Frank Roach]

Just wanted to stop by and say congrats! to my friend and the ONLY person I go to for a mortgage. I have bought three houses in Atlanta, done two refinances, and bought a condo in Destin... all through Kal. I want to applaud Kal on his innovative way of approaching the challenges in today's marketing arena. In a time when the going is tough and the competition is high it good to see a guy like Kal sitting on top.

I read the tragic comments posted earlier. I don't want to repost what they typed, nor respond directly, because I feel that their points were baseless and irrational. Their comments eerily reminded me of Aesop's fable, The Fox and the Grapes. It is the story of the fox walking through the vineyard and can't reach the grapes so he calls out to the crow to throw down some grapes. The crow tells him no and as he turns to leave he mutters that the grapes were probably sour anyway. The moral to the fable is that people despise what they cannot have. Kal is a success story in the making. To throw around baseless accusations about his character or professionalism based solely on his innovative techniques and marketing savvy speaks nothing of Kal yet volumes of the uncredited author's shortcomings.

Trust me when I say, "These grapes are not sour!!"

[TakeFive]

"Kal's unconventional marketing strategies..."

Would that include using testimonials from sock puppets on this board?

Just askin'

[Tom]

I must again applaud my good friend Kal in yet another news article being written about him and his success. I have had the privilege of knowing Kal for nearly 10 years and am most impressed by the type of decent hardworking business person that he has become.

While I realize that a good bit of Kal's marketing techniques are far from mainstream and oftentimes done "tongue in cheek"; Kal himself is a thoughtful and caring person who is a GREAT friend and exception financial/mortgage advisor.

I'm just happy that Peter Viles finally had the opportunity to meet Kal face-to-face and realize for himself what a great guy Kal really is. All I've got to say to all you naysayers out there is, "once you meet him, you too will see that you just can't root against this guy".

[MyLessThanPrimeBeef]

Here is a slight different version of one of Aesop's fables, courtesy of Brothers Grimm, called the Hedgehog and the Hare.

The Hedgehog and the Hare were in a race. The Hedgehog tricked the Hare by stationing his wife, who looked like him (oh, the misfortune of life), at the finish line.

The moral here is that we must do our own work, instead of relying on someone else to defend ourselves.

Trust me when I say, 'Stand up for yourself!'

[ulli]

Kal did my second mortgage to secure me into a 30 yr fixed at a great rate so thanks to him my condo is secure,plus it was one of the easiest transactions of my life , second i consider him a friend and i will do business with him anytime im in the market again.
Ulli
Atlanta

[MyLessThanPrimeBeef]

Who is anyone in the financial sector or otherwise to pass judgment, especially when it seems to be based primarily on their own ignorance and jealousy? It's such attitudes and closed-minded thought processes that will prevent these individuals from ever rivaling the level of achievement, self fulfillment, and lifestyle that Kal enjoys on a daily basis. - Alex

Alex, I think calling people closed-minded is judging. But who are we to pass judgment?

I myself party harder than any one I know in Atlanta!!! I have attained a Bachelor and Masters Degree, and consider myself very successful at 26 years of age. - Party Boy

Party Boy, if you didn't party that hard, mabye you would have a Ph.D. by now. By the way, I think your Master's degree is two degrees too many.

And this is to Kal. Kal, how about if you step out of your comfort zone for a moment and do business with elementary kids or retired seniors? A successful businessman never limits his client base.

And Paulo, the trouble with the world's largest financial institutions is that they have way too many mechanical and aerospace engineers and not enough ichthyologists. And if you puke every time you come to this blog, maybe you shouldn't be in the financial industry after all.

[1-800-kalparty ( 18 & over)]

"I read the tragic comments "
Oh, I don't know if tragic is the right word, is it really a tragedy? What happened to Jennifer Hudson's family is a tragedy, I just don't see how a few bags on this guy really compares.

[eprobert]

Peter, can you check the IPs and see if a spam bot has gotten to your blog? It appears to have been hijacked by some kind of Atlanta mortgage broker fan club...

[aldo818]

OK, I know this guy looks like a real douche in the picture here.
However, that does not mean that it is true. He has to be great at customer service and and a very smart marketer to be able to compete against the giant glut of agents/brokers that came out the past 10 years.

I'm thinking that most of the hate here is from him having way more fun than the rest of us have dreamed of. I know I dislike him a little bit only because of that. LOL!

You go Kal!
-Aldo

[morgan v]

Kal is an amazing person with a genuine heart and spirit. Everyone that meets him can feel it. He has been a great friend to me and he will do wonderfully whether he decides to sell matchbooks or cars or mortgages because he puts his whole heart and soul into it. More sales professionals could take a lesson from Kal - work hard and play hard and build as many connections as possible- that's what made him so successful.

[E]

If Kal was really that great a person, people wouldn't need to rush to his defense.

Do you have all these people on speed dial Kal?

Funny how all his defenders sound like they are a bunch of 20-somethings reading from a script.

1. I run a (Insert many millions here) company

2. You're jealous of Kal

3. If you don't like him you must hate your job/life/etc.

4. I own so many properties

5. No body does me...I mean it...like Kal.

6. Kal Rules and you guys all suck.

Oh...and the myspace pages all you guys have are precious.

"Look Dad...Kal's pretending to do me from behind!"

[Elena]

Kall You Rock! When I will be raeady to purchase a house you will deffinetely get a call from me!
Good Luck in your business!!!

[peteviles]

eprobert asks, "Peter, can you check the IPs and see if a spam bot has gotten to your blog? It appears to have been hijacked by some kind of Atlanta mortgage broker fan club..."

Thanks, Epro. The same question was raised the first time Kal's pals came on the blog to defend him, and that time I checked every comment and, if memory serves, found no duplicate comments from the same IP address.

I'm lazier now, and checking the IP addresses is somewhat labor intensive, so this time I checked ten comments at random. I found two dupes -- one IP address had published two anti-Kal comments under different names, and another IP address had sent two positive comments, under different names. The other 8, all pro-Kal, came from different addresses.

That doesn't really prove anything, though. I think it's a safe bet that Kal's e-mail address book would fill Dodger Stadium with his chums, and he might have told them about the blog post. I would expect no less from him -- that's his game. Fair enough.

[Nelcisco]

LOL TakeFive, that jackolantern throw'in up candy on that hotchicksdouchebag link is a classic.