The market is horrible, disaster looms everywhere, sub-prime meltdown kills country!
Ok, we as mortgage and real estate professionals who have been in the game for any amount of time understand that the market goes in cycles. The news media has the general public spooked right now about real estate but we as the professionals need to guide our clients that its a great time to buy. Rates are low, and you get more home for your dollar.
I was speaking to a friend last night about her frustration with getting her loans funded in a timely manner.
Seems a majority of lender reps are not returning her calls and when her files do go into underwriting, it takes days if not over a week to get any movement. On top of that loads of my other com-padres are saying its just plain hard to get business these days.
Now I'll admit, its not as easy to get things done but on the other hand a lot of competition has left for "greener" pastures so it truly has become a professionals market.
Here are the Ken Henderson tips for making it in the business in 2008:
1. Network, Network, Network Oh did I say Network.
2. Follow up (One of the most important elements)
3. Choose your business partners VERY wisely, for example if you are a loan officer, send your business to the MAJOR better funded lenders then your small niche ones, especially if your larger lender has a program for your client. Pick 2 to 3 banks you work with exclusively and build rapport and relationship with them so that your files can be treated with respect and get pushed instead of sitting on an underwriters desk under dozen's of other files.
4. Be Professional ALL of the time. Return, voice-mails, emails and inquires promptly.
5. Continue to market. I know there's not as much marketing capital floating around but you can do A LOT of free advertising and market to keep your name and services out there. Active Rain is a great tool and there are others.
Heres just a few things that I am doing to stay out there what about you, I'd love to hear it!