A recent headline had mortgage applications down to their lowest in the past 22 years. Spoiler alert — the party is over. Those who survive will have to do something different to be successful. For many of us, that will mean returning to the basics we followed 10 to 20 years ago. For those newer, it means learning a new way of doing business. I am finding that managers across the country are at a loss as to how to direct these originators. I say — just go back to basics. So, I returned to an article I wrote 25 years ago, updated it and it turned out to be pretty much right on point. If you don’t have time to coach, email it to your loan officers who need this message.
Do not expect a marketing system to work if you don’t do the basic things necessary to become successful. As a matter of fact, if you do these things correctly you will need to spend much less money and energy on marketing. Why? Because marketing is not something you do — it is the way you think. Those who are very successful take care of the basics. I invite you to see if you have taken care of these following ten things. And if you have not — do not spend another dollar on marketing or advertising until you have taken care of them. I think most of these items are very, very simple. Of course, simple does not always mean easy to implement.
So here is the Top 10: