What Size Pie; How Big Will Your Piece Be?

I have talked about the changes in mortgage lending and traditional real estate sales for a long time. The past five years I have tried to make those people engaged in these practices aware of how the entire industry has been moving much more toward a transactional basis from more of a relational basis. In fact, the entire “Crossroads” event series was built around that very simple comparison.

With the huge increase in internet buying and selling of real estate, internet based lenders, huge “teams” of mortgage and real estate professionals buying and pounding leads for business, the move away from more “traditional business” is almost alarming! It has been my assertion that companies like Zillow®, Redfin®, Open Door®, and Quicken® on the mortgage side, have continued to move the needle faster and faster. Zillow® will be a licensed real estate broker in all 50 states by the end of 2020, and Quicken® is already the largest mortgage lender! I have projected that more than 75% of all mortgage and real estate license holders by 2025 WON’T even be in charge of their own relationships at all!

I say this because the “PIE” that is the total amount of available business opportunities will be shifting. A greater percentage of business will be done by nontraditional license holders and those competing for relational based business will compete over a much smaller total “PIE”.

Now this isn’t a bad thing for you relationship focused people. In fact, it will be BETTER for your business! Why? Because there will be significantly LESS competition in that market! The reason you ask? Because most people would rather make less money on each deal if they don’t have to generate the opportunity than want to make more money doing the WORK of a relationally based business that provides for a quality experience for the clients.

Plain and simple, smaller pie; far fewer people sharing that pie means more pie for those that stay and do the WORK! Do the work, and enjoy your pie!

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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