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Confessions of a drunk loan officer – A marketing group.
A Transparent Approach to Business and Sobriety
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The Game Just Got Harder: Succeeding in Real Estate and Lending in 2024
I want you to think about this – do you have to or do you choose to work in real estate and lending? I think for most loan officers and realtors, we go about our business thinking we have to…but “having to” reminds me of old TV shows where a mom yells at her kid for not washing behind his ears. The kid “had to” but didn’t “want to.”
Now this may sound silly, but I think a lot of you treat your career like that whiny little brat. “I don’t want to call my database, I don’t want to learn my CRM, I don’t want to be consistent.” Cry me a river. Every successful realtor and lender thanks you for being half-assed – your failure to pick up deals is their gain. But I’m rooting for you.
Try this – deliberately think about your day. When it comes to difficult tasks like calling clients or prospects, watch CRM tutorials, reach out to partners – instead of mindlessly scrolling TikTok – very deliberately tell yourself “I choose to do this. I get to do this. I have the privilege to do this.” That’s gratitude, not entitlement. This mental reset could motivate you, set you up for a successful day, and even put a smile on your face. Food for thought.
Now on with the show…it’s important to up your game because it just got harder. Real estate and lending is no longer played domestically – we’re out battling the elements. Mortgage rates, inventory, and demand have risen but sadly price cuts remain rare as dodos.
As Brian said, success is persistence through failure. Ambition is the path to success; persistence is the vehicle you arrive in. If you want to win in this hostile market, you need to change your ways – there are no other options.
The good news? Mortgage delinquencies are up, hopefully leading to more foreclosures. The 2023 calendar year ended on a Sunday, affecting payment processing, and the delinquency rate hit 3.57%, up 19 basis points from November.
This is good because home builders aren’t building much and don’t have to – they’ve got you over a barrel thanks to short-sighted policies. One hubristically said builders will dominate for years. If he’s right, it means you need to be on your A-game. If you don’t know what that means, re-watch this video!
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