You’ve seen them on television, YouTube, and certainly on the show I host, The Industry Leader Update. Forecasts of what may happen with the housing market, the economy, or HECM-to-HECM refinance volumes. And to be honest, quite often we’re wrong. That said, being knowledgeable about what may come to pass may help you prepare for change, but in the end, it doesn’t matter as much as what you do.
“The best way to predict the future is to create it.”
– Abraham Lincoln
The 16th President of the United States, Abraham Lincoln is credited with saying, “the best way to predict the future is to create it”. A surprising proclamation considering his string of failures ranging from losing an election for the state legislature, a failed business, the loss of the love of his life to typhoid fever, and a failed bid to become a U.S. Senator to name a few. Yet from this impressive record of failure came a man who believed his actions could move the course of events. History confirms that he certainly did.
Here are a few examples of how you can create your own future.
“I want to increase my sales closing ratio of qualified prospects.”
Examine your sales approach. Ask a colleague to role-play a phone call or in-person meeting and get their feedback. Read books on sales and the psychology of sales. Develop a narrative style of sales that is natural. Learn how to use the Socratic method to uncover underlying motivations and objections. Practice your new techniques and perfect them. Measure your closing ratio each month and track your progress.
“I want or need more leads!”
Look to see where your leads are coming from and where a previous source dried up. Schedule at least 2 hours each week to outbound sales calls. Begin or intensify your contacts with potential referring partners and build relationships with area professionals. Scrutinize your website. Are you receiving any interest from local homeowners? If not, check your Google ranking by searching “reverse mortgages <your city>” and see where you stand. If you’re not showing up ask us about our geo-centric local reverse mortgage landing pages here. Partner with traditional mortgage lenders and brokers in your community for reciprocal referrals. Educate them on the ideal potential reverse borrower.
“I’m worried about home values dropping”
Real estate values are cyclical and are likely to go down and back up again. It is what it is. What matters now is reaching out to potentially eligible homeowners who may qualify today but not in the future. Work with local data providers or title companies to find the best neighborhoods you can prospect. Setup workshops at community centers, libraries, or senior communities. The bottom line is to push hard today while market conditions are prime. If the housing market does turn south or interest rates climb the skills we’ve discussed that you’ve developed will position you to succeed more even in a challenging market.
Predictions to be frank are unpredictable. No pun intended. However, putting your new and existing success-producing habits to work has predictable results. More satisfaction, less frustration, and more positive outcomes.