Why Real Estate Agents Are Starving – Dave Savage interview
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After nearly two decades of sharing insights and experiences with many of you, I’ve learned that transparency builds the strongest communities. Today, I’m sharing some personal news along with important thoughts about our industry’s future.
I’m undergoing surgery to remove cancer from my kidney – and yes, it’s my only one. While this news might sound daunting, I want to assure you that the outlook is as positive as it could be. I’m expected to make a full recovery, though you might catch me a bit loopy if I make it back to broadcasting by Monday (blame it on the pain medication).
If we don’t connect before the holidays, I wish you all a wonderful Christmas and New Year. 2025 is going to be a year of reinvention – not for me, but for you. I’ve already charted my course through this challenge, and I’m confident about what lies ahead.
Recently, Housing Wire published an article addressing a burning question in our industry: Will AI replace loan officers? Jennifer Beeston’s experience with a mortgage coach’s AI assistant provides some interesting insights, leading her to conclude that “the human element cannot be programmed.”
While I agree with Beeston’s core message, I’d like to offer a more nuanced perspective: AI will replace some loan officers – perhaps many. But this isn’t unique to our industry; it’s a universal truth for those who don’t understand their true value proposition.
Here’s the reality: At a basic level, loan officers must deliver three things:
But if that’s all you’re providing, you’re at risk of becoming obsolete – like trying to perform yesterday’s hits without evolving with the times.
The loan officers who will thrive in this new era are those who make themselves indispensable. This means:
The coming year presents unique challenges:
This combination of factors will create a trial by fire for many in our industry. The question isn’t just whether AI will replace loan officers – it’s whether you’re prepared to elevate your game to meet these challenges head-on.
While historical data shows concerning trends in income requirements for home-buying over the past century, our focus needs to be on adaptation and excellence in service. The loan officers who survive and thrive will be those who embrace both technological advancement and the irreplaceable value of human connection.
Stay tuned for more insights, including an upcoming interview with Dave Savage from Mortgage Coach, who has some particularly relevant thoughts to share on these topics.
I look forward to continuing this journey with you all, hopefully sooner rather than later.