What is the Path through a Turbulent, Uncertain Market?
As a banking and mortgage financial speaker, who began his career in the financial services arena, I understand the challenges of uncertainty in a complex and chaotic industry. How do you continue to grow and attract new clients with interest rates doubling, rising to who knows what? And, adding to all of the turmoil, the consolidation that is sweeping across the industry.
Easy to give up in tough times
From my experience as a banking and mortgage financial speaker, I know how tough it may be going forward even if you enjoy the industry. How will you summon the determination to continue? How will you have the ability to continue on in front of your referral partners? Is it only about marketing, waiving fees and other inducements? I think not. It is much more; it is a story based on truth.
Will the industry ever experience a 2-percent rate again? Probably not. In their heart of hearts, most potential homebuyers probably don’t think so either. So, what “story” must be told, and how is that truth made believable?
What is real is historical data. Though the industry is, of course, competitive, it is only by sharing a common vision of seeing future trends, that a rate of 7-percent or more won’t be seen by homebuyers as overwhelming or frightening. The 2-percent rate might be the good old days, however as everyone knows, the good old days had their share of problems too.
The difference-maker, the story teller must be you. The industry cannot be locked in the past. There are new technologies in place and new leaders on the horizon. Change must be embraced. Change is all around you in these post-pandemic, inflationary times. However, change doesn’t mean you cannot be successful.
The pivot points
The story to be told is a story of truth based on data, constant education, discipline and unquestioned customer service. These are the essential pivot points needed through change.
It is easy to say “ride the storm” or “this is the way it is.” However, to a family, frightened by what is happening, you must be an advisor. What needs, fears and concerns can you address? In that advisory capacity, you must educate based on knowledge and not well-worn phrases but on the experience and confidence that can only come from going all-in on education and having the customer service determination to be a difference maker. Of course, you will watch for refi opportunities, however it is your education that will help clients escape the doom and gloom scenarios and realistically see the important picture.
Build your brand on the trust that can only come from being a difference maker. Buying a home in any market has never been easy. Now it is even more difficult. The better you can educate, leverage the content of valuable information and communicating knowledge of the market, the better the path through these turbulent times.
See your success
It ultimately comes down to an industry-wide grit to a commitment to growth and not caving into fear. Understand that much like reputation, the relationships you forge in these changing times matter more than ever before.
Yes, times have changed, but you have the courage, mindset and determination to meet those times head-on. Be a difference maker. Help a potential homeowner become a homeowner. You may well change a life today.
To reach Scott Burrows, Mortgage Banking Motivational Speaker, contact Scott today by phone at: 520 – 548 – 1169 or through this website.