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The business begins to grow
He and his childhood friend, Doug Wang, ended up launching that brokerage in January 2020. Out of thousands of potential names for the fledgling firm, they ultimately picked Agave Home Loans in allusion to the picturesque succulent plant with rosettes of narrow spiny leaves and tall flower spikes that dot the landscape of Phoenix, the capital of Arizona located near the border with Mexico. Apart from its aesthetic attributes the agave is also key in the production of tequila.
Agave Mortgage would open two months before the peak of the COVID-19 pandemic. “The credit markets were very uncertain,” Gottlieb recalled. “We weren’t able to lock rates. We also didn’t know how to run a brokerage, we didn’t know about processing, underwriting and title. Working at Quicken is pretty cookie cutter – you did one job, and that’s to originate. We kind of took it slow at the beginning, and really tried to do every role ourselves so we could learn the ins and outs.”
Once they reached a certain comfort level, Gottlieb and Wang brought in a third partner, Joey Harrington. as their chief technology officer. Today, the company has more than 60 employees.
A breadth of knowledge is key to success
Gottlieb credits much of the firm’s success to a keen knowledge of various products and a penchant for advising clients on their best options.
“You gotta know FHA and VA and conventional and purchase and refi and streamlines. That’s really our bread and butter,” he said. “We don’t do a lot of non-QM or second mortgages. Our loan officers have a goal of simply getting to know the client’s situation. Many clients and consumers come in with preconceived notions about what they’re supposed to get and what they’re supposed to ask for.”
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