One Down, Twenty-Five To Go

By
Mortgage and Lending with Mike Tullio, Kroboth & Helm Mortgage Company NMLS #208860

run I just read an article about the 2007 Chicago Marathon and my calf muscles cramped just thinking about what these 25,000 people went through.  In case you hadn't heard about it, Chicago had an unseasonably warm race day, to the tune of 82 degrees and 78% humidity at the start of the race.  Not a cloud in the sky either.  Extra watering stations were added, misting tents were set up, and thousands of volunteers lined the streets to help the runners on their way.

A couple of hours later, the marathon was in full disaster mode.  Runners were collapsing, fainting and falling headfirst into the pavement, and water and food supplies were running out rapidly.  It was chaos.  The organizers of the race didn't expect things to get that bad, but hundreds of folks ended up in the hospital and one runner died that day.

First off, I can't imagine running 26 miles in the first place.  I hit the treadmill for 2.5 miles this morning and I was spent.  But in those conditions.  They tried to cancel the event mid-race, police began diverting runners, but some 15,000 still finished.  The average finish time was up 75% over years gone by.

So how DO you run a marathon?  One stride, one block, and one mile at a time.  Running has always been an apropo metaphor for life, work, and discipline.  A picture of consistency, focus, and persistence.  Not so much in the real estate market the past few years.  I almost pictured a throng of tank-top wearing, athletic-shoed realtors and mortgage brokers lined up at the starting line in, say, 2005.  How hard could it be to run 26 miles?  Everyone was doing it.  We were full of unfounded confidence and came out sprinting the first mile.

Then the heat was turned up.  We found out how underprepared we were.  You mean, people train for this thing?  And the runners cramped up, passed out, got sick, dropped out, took up a different sport, got angry at the people who organized this race (lenders, appraisers, investors), and the other runners (other real estate agents and mortgage brokers).  It's was a catastrophe.

So who's left?  Who is still running?  You and I.  We're on Active Rain.  We're calling clients and referral partners.  We know the rules of the race are changing, but instead of getting angry, we adjust to the new course.  We work, talk, track, goal-set, and run with the finish line in mind, but realize each step counts.  So stay hydrated, pace yourself, tap into your inner strength, and run my friends, beacause the way you finish the marathon is to keep moving forward.  One step at a time.

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Rainmaker
105,364
Martin Abeshaus
First SEO Corp

Mike,

Being in the midst of writing a marathon of a marathon post(s).... I can feel the pain!

February 05, 2008 09:15 AM
Rainer
17,353
Mike Tullio
Kroboth & Helm Mortgage Company
Mike Tullio, Kroboth & Helm Mortgage Company
Hey Martin!  Figured I'd get your attention with this particular post!  Embracing the pain.  We could all use a little more of that idea.  Hope your shins aren't splinting!
February 05, 2008 09:38 AM
Rainer
27,074
Ron Avneri
Financial Professional
This race is definitely not for sprinters.
February 05, 2008 10:41 AM
Rainer
17,353
Mike Tullio
Kroboth & Helm Mortgage Company
Mike Tullio, Kroboth & Helm Mortgage Company
Well said Ron.  There were certainly a lot of folks who thought they could throw on a pair of running shoes and hit the pavement.  Not anymore.  I guess that's why 42% of the folks holding a Florida Mortgage Broker License didn't renew in 2007.
February 05, 2008 01:21 PM
Rainer
27,074
Ron Avneri
Financial Professional

Yeah,  people are starting to pissy out there as well.

I left a friendly comment on this loan officer's blog Lender nightmares - who can you trust??  and the guy blew up on me.  check it out.

I mean, I'm hear to help not deal with complainers who blame everyone else for their faults because they arren't doing business.

 

February 05, 2008 03:16 PM
Rainmaker
89,047
Rick Kellow
FHA & Reverse Mortgage Expert
Cherry Creek Mortgage
Great job Mike... this industry is going thru some rough times (miles 23-25) LOL those who remain will be glad they did... we have a great industry help customer realize the american dream... thank you
February 05, 2008 04:12 PM
Rainer
17,353
Mike Tullio
Kroboth & Helm Mortgage Company
Mike Tullio, Kroboth & Helm Mortgage Company

Ron.  Isn't that what the original sin was all about?  Shame and blame.  It's much easier to put the fault on everyone but ourselves.  But no one can run the marathon for us.  Thanks for being part of the solution!

Rick.  Well said.  And way to continue the metaphor.  I think we are hitting the runners' wall right now.  We just need to push through the intense pain and keep the end in mind.  Like you said, it's all about helping our customers out.

February 05, 2008 04:47 PM
Rainmaker
94,436
Kevin Hancock
The Hancock Mortgage Team
Evergreen Home Loans
Great post!  You definately need to pace yourself these days... every time I try to sprint to the finish I end up racing off course and smacking into a brick wall.
February 05, 2008 05:33 PM
Rainer
17,353
Mike Tullio
Kroboth & Helm Mortgage Company
Mike Tullio, Kroboth & Helm Mortgage Company
Kevin.  So true.  I like the term pacing.  It still indicates progress, but with a good measure of control.  And I hear you on the brick wall; if only we were like the Road Runner and we could run through the walls!
February 06, 2008 07:28 AM
Rainer
42,925
Jeff Fullmer
Real Estate Investor/Financier
FM Properties

Great analogy Mike.

I think its clear that the runner who died in our industry was the sub-prime. It will be interesting to see what the police do this year in passing legislation to try and get us to quit the race!

February 06, 2008 11:43 AM
Rainer
17,353
Mike Tullio
Kroboth & Helm Mortgage Company
Mike Tullio, Kroboth & Helm Mortgage Company
Hey Jeff.  Wow, you really kept my metaphor running!  Couldn't agree more that the guy wearing the BC letters on his tank top dropped out of the race.  Should be an interesting year indeed.
February 06, 2008 10:19 PM
Rainer
5,036
Charles Dismuke
Palm Springs Mortgage Guy
Amerifund Lending Group
I am reading this a week later.  I appreciate the encouragement.  Lets all continue to run the marathon we call the real estate business
February 12, 2008 07:04 PM
Rainmaker
44,584
D. Bass
Blog: Ask The Underwriter
Alpha Mortgage Training

Great Post! I've found myself at a few rest stops too often this new year, but after reading this I'm buying a NEW PAIR OF RUNNING SHOES!

I always enjoy your post...keep 'em coming

February 26, 2008 09:42 PM
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Rainer
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Mike Tullio

Kroboth & Helm Mortgage Company
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