Meet Ira Zlotowitz, The Man Whose Cold-Calling Helped Introduce Ivanka to Jared

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The Following is VIA HuffingtonPost.com

“The second best answer you can give anyone is admitting no’”

I had the pleasure of interviewing Ira Zlotowitz. Ira is the founder and president of Eastern Union Funding, one of the nation’s strongest and most active commercial mortgage brokerage firms.

Yitzi: Thank you so much for your time, Ira. I know that you are a very busy person. Can you share your “backstory” with us?

As far as business, believe it or not, it all began with cold calling! People often think that cold calling can only be used for selling inexpensive items, attracting low class consumers, and that it can’t work for expensive products, targeting billionaires. I disagreed. I started as the 12th broker at a company doing approximately $300 million a year, and led it to $2 billion. I then started my own firm, which became one of the top ten commercial mortgage brokerage firms in the country. This year we may reach $4 billion.

Yitzi: What are you most proud of?

One of the things that I am most proud of is the ability I have as a successful business owner to help people help themselves. We can take someone at an entry level position, and give him tools enabling him to move up to a 6 figure salary in a fairly short amount of time. The unique ability to help people in this way is extremely gratifying, as it can literally change the course of life for these individuals and their families. It is a G-d given gift, and I am so grateful for it.

Yitzi: Can you share one of the most interesting stories that occurred to you in the course of your career?

Here’s a little known celebrity story: A number of years ago, one broker who I was working with at the time tried my cold calling techniques and reached Donald Trump! He eventually convinced Trump to do a deal with him, and he succeeded in building a relationship with him. This man was actually the one who introduced Ivanka and Jared, for business purposes. As we all know, they eventually married, but few know how they first met. It’s a fun story, and a tribute to the success of cold calling methods!

Yitzi: What are some of the most interesting or exciting projects you are working on now?

Recently, we worked on a very large crowdfunding project which we put together for a day school in Florida. Thankfully, because of this, they were prepared to weather the recent hurricane.

Yitzi: What drives you?

My biggest inspiration comes from my father, who always taught me to be the best that I can be. My father passed away earlier this year but his spirit is still with me. The desire to live up to his dreams and aspirations for me is my driving force in all that I do.

Yitzi:  Based on your personal experience, what advice would you give to young people considering a career in real estate?

I started from the trenches myself, and have learned a lot of valuable information along the way. Here are a few points:

1.    Don’t follow public opinion. Do your own research.

2.    Data and Technology will continue to drastically change the landscape in every industry and it is therefore imperative to stay ahead of the trends. For example, we created a commercial real estate app which serves as a digital tool box for brokers and clients. This way everyone can use the same system and can even keep track of their projects and deals from the road. It uses statistics and data to deduce which bank is best suited for a particular mortgage, kind of like an airline Expedia.

3.    I believe in tracking and metrics. . Everything needs to be tracked and have the ability to reflect back and make educated decisions based on metrics.

Yitzi: You are known as a master of the cold call. Can you share some of the most important tips for a successful cold call?

1.  Success is all about the relationship: always humanize the call. Start by asking if it’s a convenient time for them, then you can discuss current events or the like; but always remember that you’re talking to a real, live person. I don’t believe that the details of the scripts are the key; the conversation just needs to stay real and natural.

2.    Be honest. The second best answer you can give anyone is admitting ‘no’. Everyone will occasionally lose a deal, but it is critical that you are honest about everything throughout. We once had a client who had been promised by another business that he could get better than a 3% rate. When the client found out that he was lied to, he never went to that company again and only came to us in the future. Even if you lose the deal, you are building a foundation of trust that is the basis for successful client relationships.

3.    Go straight to the pitch, but make sure to really listen. Hear whatever your potential client is telling you. It’s the only way to understand what he really needs.

4.    There is an art to starting a deal as an entry level broker, yet knowing when to bring in a senior broker to take over. It’s a blend of a ‘telemarketer’ and a ‘closer’ and it’s important for both to be involved in the deal.

5.  It helps a lot to have a long term view. As I always say, “It’s easy to make money, but tough to make a living.”You need to look at the big picture, and not expect things to come easy.

6.  I try my best to remember that ultimately it’s all in G-d’s hands. All I can do is try my hardest, and then it’s up to Him.

Yitzi: Who are some of the most famous people you have interacted with?

I try to keep a healthy perspective on famous people, and don’t let meeting them change me. I mentioned the story about Trump to show that somebody can start from nothing and become a wealthy person and reach a point where he can help others.

Yitzi: Which people in history inspire you the most? Why?

My father, Rabbi Meir Zlotowitz, of blessed memory, is my biggest inspiration. He was a regular Orthodox Jew who went into business. He wrote a book in memory of his friend, which led him in a whole new direction. He translated the Book of Esther from Hebrew into English. It was quickly sold out so he embarked on translating all the major Torah works into English, starting Artscroll and Mesorah Publications, Ltd. This changed the Jewish World, making Talmud, prayer books, and many other works, understandable and relatable to the English speaking public.

Yitzi: Which company do you admire most, and why?

I admire Steve Jobs and Jeff Bezos. They had drive and a vision and they stayed focused. When they have success they don’t move on to new things, instead they Double Down. Jeff Bezos was able to innovate ahead of the times, to be able to see the need before others. Like Wayne Gretzky said, “I skate to where the puck is going to be, not where it has been”.

My dad had a similar outlook on life, and I look to him as a role model.

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