Do you kind of feel like that “mortgage wind” is blowing you a bit sideways?
Here’s a little known weird fact: A sailboat actually moves faster with the wind blowing from the side rather than when it’s going downwind.
See, when it’s going downwind, it can only move as fast as the wind. When it’s blowing from the side, it can move multiples of the wind speed. A few years back, a catamaran sailboat set a record speed of 50.8 mph, with a wind speed of only 18 mph.
So how does this help us close more loans?
The last few years, the wind has been at our back. Rates low, plenty of equity in existing homes, and plenty of money floating around…
… but let’s face it, it was easy to get “sluggish” and just sit in the easy chair and let loans just fall out of the sky.
“How do I close all these referred leads” was the biggest challenge.
The challenge now is, getting back to actual prospecting. You know, those things that we used to have to do for every loan…. it’s getting back to “normal” now. The last handful of years have not been normal. Rates in the 2’s and 3’s are not even close to normal for those that have been at this for a few decades.
This is actually welcomed news to many of us.
Just like going through the mortgage meltdown of 2008-2009, most loan officers fell off the face of the Earth… they didn’t know how to prospect or they simply chose not to do it.
But here’s the thing, those of us who did prospect ended up making way more money after the meltdown than before it. I didn’t have my first 7 figure income year until AFTER that challenging time. We made more on each loan and closed way more loans because only a handful of us were left, there was like no competition.
I’m confident that history repeats itself and I’m confident that you will do record speeds during this “side wind” time… well, assuming of course that you know how to prospect and actually do it of course. I believe in you!
I’ve never found prospecting to be hard at all.
It’s a simple 4 step process that we use with our Loan Officer Freedom Club members that I’m happy to share with you <no charge>.
See ya on the inside and let’s enjoy some sailing ☺
Capt. Carl White
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