Prepare for the Wave

Written by Posted On Monday, 01 July 2024 00:00
Prepare for the Wave Image by fabrikasimf on Freepik

Preparation and planning are important ingredients in a successful mortgage practice. Far too many in our industry live their entire careers in a reactive mode, and the stress and pain of always being behind the curve causes far more failure than it should. Right now, we are seeing the results across the country of those companies, branches, managers, team leaders, and originators who have failed to plan, prepare, and schedule themselves for success, and are now seeing that failure hitting their pipelines.

We have all heard the words that those who fail to plan, plan to fail; or those who ignore history are condemned to repeat it, but so many in our industry have ignored these famous quotes and are not prepared to succeed in the wave of activity that is out there or should be out there IF planning and preparation had taken place. I know this because there are people in the mortgage industry who are thriving because they were prepared!

I have stressed the importance of being aware. I point out things that may impact the markets and where the opportunities are being found by real people who are originating loans. The ability to overcome objections and deal with false narratives turns frustrations into opportunities. That said, you need to be prepared and aware of what those objections are, and why they are being presented. Each market can be different, but the reasons for success are in plain sight!

National news has an impact for sure, unemployment data and inflation information can certainly impact rates, and without knowing what is happening and why, you could be unaware or fail to share the big picture. Last week we saw how the price of gold versus the cost of homes and cars challenged the perception that homes are too expensive. We also have been hearing that “nobody” is going to get rid of a 3% mortgage to buy another house. If that is so, why are so many people doing it, not to mention the number of refinances taking place? 

Today we have unemployment numbers and GDP numbers, on Friday we will see PCE data. All of these numbers may impact the market. Also, next week is 4th of July holiday; do you have all your EV’s done for next week’s closings; are your PA clients going shopping? Questions or comments: This email address is being protected from spambots. You need JavaScript enabled to view it.

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Michael White

After 18 years working in all phases of mortgage originations, Mike left day to day originations to start his consulting and coaching company. Now, more than 18+ years later, Mike is working with clients across the country in all markets, big and small, that have generated more than three billion dollars in loan originations within a year.

Mike teaches a system that is focused on time management, action planning, marketing a message, and creating value for both clients and referral sources alike. Quite simply, providing more value leads to more opportunities, more income, less time, and a systematic approach that begs to be duplicated.

 

By breaking down individual aspects of the mortgage business and providing a step by step approach to creating a consistent flow of opportunities that can lead to a highly successful mortgage practice. That is why people who incorporate these strategies out produce the national averages by almost 3 to 1!

Fundamentals and simple strategies provide day to day activities that help provide a “scheduled success” philosophy. It’s all about identifying, targeting, and establishing profitable referral relationships using exceptional value to keep you in the center of your own referral triangle. 

 

https://www.imtcoaching.com/

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