Jumping the shark- the ridiculous, the absurd, or perhaps a gimmick in the sad attempt to remain relevant. The phrase was born from the moment Fonzie wearing his signature leather jacket and swim shorts jumped a shark. Critics said it signaled the beginning of the end of Happy Days.
Why do some businesses jump the shark?
Let’s face it, older homeowners can get a reverse mortgage from any qualified lender. In fact, some may never have to sit face to face with a loan officer. Also, the reverse mortgage has become increasingly like it’s traditional cousin, the forward mortgage. The truth is anyone can attempt to sell a reverse mortgage but fewer have mastered the art of serving.
With reverse mortgage becoming increasingly commoditized it is important for us to move from selling to serving our prospective borrowers.
Here are a few thoughts that come to mind.
1. Don’t put the cart before the horse. Try this the next time you speak with a potential borrower. Instead of launching into the features, benefits and particulars of the reverse mortgage do this…
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With the explosion of the Internet and, more recently, social media, being branded is no longer the purview of cattle. In fact, if you don’t clearly define your brand, you might resemble another farm animal: sheep.
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