How Fast Did That Happen?

I was thinking yesterday that “9/11” was 18 years ago. How fast those 18 years went? I was also talking to a client about a training I did last year called “Crossroads” where I shared the evolution of real estate and mortgage originations from a predominantly realtor referral business to a much larger reliance on consumer direct business and referrals from other professionals.

The talk centered about how nobody knew who “Quicken” or “Zillow” was ten to fifteen years ago, and now they are dominant in the market. How Zillow may have started out as a website for houses, but that made way to selling leads, and now trying to eliminate the agent, the lender, and title companies because they believe that those people are not “important” to the quality of the transactional experience.

You would be surprised to see how fast they went from being supportive to the industry to trying to take it over! How fast did that happen? How quickly did they go from begging agents to post heir listings on the site, and getting agents to work with lenders to pay for the lead information back; to now saying out loud that they intend to replace the agents and the lenders and there is nothing they can do about it because the agents and lenders have become dependent on Zillow for their business!

Boy did that happen FAST!

So what is the game plan? What will you do? How will you compete? How will you set your value to the customer? How will working with you be better for that customer? How will it bring greater value to them? How will you create a better customer experience?

Zillow isn’t alone. Other companies are changing the way our industry works. Ever see “Open Door®”? Redfin® ring any bells? Will Amazon® become the beast of “Prime Real Estate” or mortgage? If you haven’t thought about this you really need too! The crossroads are upon us and you will need a plan to compete going forward!

Keep an eye out for your invitation to the October 22nd2019 “Crossroads Webinar” and “Business Planning 2020” event October 29th2019. These two events will help you see the strategies you can use to take control of your business, and thrive in 2020 and beyond!

Questions or comments: Mike@IMTcoaching.com

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Mike White

Improve My Tomorrow Coaching is a company founded by Michael F. White to help mortgage professionals reach their true potential. Based on a belief that working the fundamental principles of the loan origination business combined with a solid system to leverage your day to day business into a self sustaining career! If you are looking to generate consistency in your business, you need to know and implement the fundamentals. Once you know what to do and when to do it, being a mortgage professional is fun, challenging, and profitable. Since the average loan originator in the country closes less than three loans a month, the average originator is unaware that closing seven, ten, twelve or more loans per month is often easier and less stressful than just two or three! If you are tired of the pain and punishment of not knowing where your next deal is coming from; if you spend more time being “busy” instead of “productive”; you need to look and see how we can help you get to a whole new level of business. Take some time to explore this website and read all the free information. If you find some things that cause you to rethink how you are currently doing your business, let us help you! It starts with YOU! There are two programs you can choose, a group program and private coaching. Please look at both before you make your choice.

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