I can’t tell you how many similar questions I have received in the past year. I have been in the industry for 40 years (of course, I started when I was 5 years old!). I have witnessed many, many booms and slumps. The past boom was the mother of all booms and there is no doubt that today’s slump feels like the worst just because we are coming down from the stratosphere.
Ideas? I won’t regale you with lectures about sphere marketing and the other things that will set you up for long-term success. You need something to do tomorrow that could result in making a difference in the weeks ahead. In my book, Maximum Synergy Marketing, I state that most of the opportunities are right under your nose. So, let’s start there with the loan officers and agents that you know who are leaving.
Every person has a sphere. When a loan officer or agent leaves the industry, their sphere goes with them. Why not grab it? I understand that they are not top producers. But if the loan officer has one or two top agents who are loyal, when they leave, there is a relationship up for grabs. Why not grab it?
Continuing our focus upon things you can do immediately, and which are right under your nose, let’s zero in on vendors. In other words, those you purchase from. Vendors can be personal in nature, such as your favorite restaurant. Or, they can be business vendors, such as a printer or advertiser. Regardless of whether they are personal or business vendors, if you are purchasing from them on a regular basis, you are helping them succeed.
My question is, shouldn’t they be helping you succeed? Let’s take the example of your favorite restaurant. LYou likely go there regularly, and you recommend others do the same. Do the owners and staff of the restaurant know you are in the mortgage business and that you would like not only referrals, but also introductions to real estate agents, financial planners or accountants? Not only should you tell them what you do for a living, you should ask for help and tell them how they can help you.
What if every vendor you support on a regular basis was helping you with your business? What kind of difference would that make?