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Survey Finds Rise In Internet Mortgage Usage

Apr 02, 2001

Selling Mortgages Is Not Rocket Science: Get Things Done Quicker-Speed Will Be The Key To Success In The FutureDave Hershmanfuture, Internet, We can speculate for days regarding how the future of the business world will affect our lives and our opportunities for success. We know that computers, especially the Internet, are going to dominate many industries. With every new business medium, there are going to be new challenges and new opportunities. There is one constant that permeates the progress of modern industry. No matter what advances shape business, the basis for this advancement will be speed. Yes, every move forward seems geared to allow us to react more quickly in the business world. Through the Internet, we now have access to information which would have taken days, weeks, or even years to previously obtain. E-mail allows for instant communication and response, as do cell phones, digital pagers, broadcast faxes, and video-conferencing units. Each year, we seem to obtain more time-saving devices, but each of these seem to rob us of time. For example, cell phones allow us to react to calls from anywhere. They also tie us to a phone on a constant basis. Anyone ever feel like they can't seem to get away from their work? Speed Each year seems to resemble a treadmill that goes faster and faster. One thing is certain-the future is not for those who don't react quickly. The consumers of the future will demand instantaneous access to information, quick decisions, and instant gratification for their desires. Take a look at the stock market for a confirmation of these trends. The exchanges are looking at trading hours that are open basically 24 hours a day. The new stock market leaders are companies that did not even exist a few short years ago. Are you prepared for the speed of the 21st Century? Sometimes it is hard to extrapolate from where one is now standing to the speed of the next century. You may look at yourself and see someone who is prone to procrastination, a technical neophyte, and unable to get their hands around the simplest tasks of today, let alone the challenges of the future. Take heart, these characteristics we have described are typical of most sales forces entering the Year 2000, but they will not sit well with the advances of the future. You must spend some time now in preparation for success in the speed zone of tomorrow. Ask yourself, "Can I react quickly to the demands of today's customers?" Find out what advances might change these demands, forcing you to react even more quickly. When you get a call from a prospect, how quickly can you react? A quick reaction in the future will be more than just returning a phone call. It will be the provision of information and services that instantly bond you to a customer. It may have been enough to return a phone call 10 years ago, but with the consumers of tomorrow receiving a barrage of valuable offers on a steady basis, the response will have to be right on target in order for prospects to stop in their tracks and tune out other stimuli. What would happen if a completely new avenue of competition entered your target market instantaneously? Not just another salesperson, but a Microsoft or equivalent guerrilla. Are you prepared to react quickly and decisively to protect your livelihood? It is certainly hard to protect yourself when there is no telling from which direction the attack will be coming. Sound ominous? Absolutely, but remember, with every challenge there is an opportunity. The average salesperson will not be prepared to react to tomorrow's challenges. For those who can react, there will be greater levels of success available. This covenant is exactly why 20% of the sales force accomplishes 80% of the production in almost every industry. The law of evolution assures a high turnover rate for those who cannot meet the demands of the open markets. Now is the time for you to decide what your strategies will be for tomorrow. Spend some time studying industry trends and the movements of your competition. Stand ready to move quickly-speed will be essential. Dave Hershman is a leading author and top speaker for the mortgage industry with six books-including two best sellers for the Mortgage Bankers Association of America. His newsletters are used by Mortgage Brokers to provide value to previous customers, financial planners, Realtors and more. For newsletter samples, call (800) 581-5678 or visit on the Web at www.hershmangroup.com.
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Apr 02, 2001
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