Latest / Mortgage Marketing Radio / Ten Housing Market Predictions for 2021

Transcript

Ten Housing Market Predictions for 2021 · Mortgage Marketing Radio

0:00
In today's highly competitive mortgage industry, building profitable relationships with
0:04
the real estate agents is essential for success.
0:06
However, finding effective ways to secure agent relationships can be a challenge.
0:11
With so many mortgage loan originators vying for the attention of real estate agents, it
0:15
can be difficult to stand out and establish meaningful connections.
0:20
Our new case study featuring loan officer Chris Cogill is a must-read.
0:25
Chris has closed a remarkable 36 million in funded loans from agent referrals.
0:31
And in this case study, he shares his proven strategies for building strong relationships
0:34
with real estate agents and leveraging those relationships to drive more business.
0:39
To get your hands on this resource, head over to LOKestudy.com and download your free copy
0:45
of the case study today.
0:47
You'll find actionable insights and practical tips that Chris used to close 36 million
0:52
in funded loans from agent referrals and how you can, too.
0:56
Don't miss out.
0:57
Go check it out right now.
0:58
Visit LOKestudy.com and download your free copy today.
1:03
Hey, listeners, what's up, Jeff Zimfer.
1:11
Welcome to this final episode of December 2020.
1:16
I want to wish you guys a Merry Christmas.
1:20
A Happy New Year.
1:21
I hope you are taking some time for what's really most important in your life and that
1:27
is people that matter, right?
1:29
Family, friends, relatives.
1:30
I know it's challenging at this time of the year to be able to get with people based
1:34
on some of the restrictions and so forth.
1:36
So I just want to say I appreciate you guys.
1:39
And if you want to have a deeper conversation, if you like what you've been hearing here
1:44
on the podcast and are looking for more, make sure you join our free Facebook group.
1:49
Just go to Facebook and type in mortgage marketing radio and we're going to be doing
1:52
more good stuff in there coming in the new year in terms of live streams and additional
1:56
content and special features and guests and all that.
1:59
So jump on in there, say hello, answer a couple of questions.
2:02
We want to make sure you are practicing mortgage loan originator.
2:05
That's who that group is for and we'd love to see you in there.
2:08
So say hello.
2:09
And also, if you haven't gotten a copy of my book yet, you can go to getdisruptordie.com.
2:15
And get a copy of my latest book, which is Disruptordie, how to survive and thrive the
2:21
digital real estate shift.
2:23
You're going to be hearing a lot more from me about that in the new year, this concept
2:26
of being a hybrid loan officer.
2:29
What is a hybrid loan officer?
2:30
A hybrid loan officer is a mortgage professional who gets business and has systems and process
2:37
and technology in place to get business from the more traditional sources such as referral
2:42
partners, pass clients, database, sphere of influence, etc.
2:45
But also from a more modern perspective, consumer direct, let's say, online, digital
2:50
marketing, perhaps some paid traffic, organic content marketing, etc.
2:55
That's what you're going to hear a lot more about for me in the coming months of the
2:59
brand new year, how to be a hybrid loan officer because the truth of the matter is you've
3:03
got to have both funnels of business, if you will, I think to succeed in what it's
3:10
going to look like in a more, you know, in the new era.
3:14
And that's exactly what I wanted to talk to you about here today, which is an article
3:18
which I'll put a link to it in the show notes from Redfin News.
3:22
So I just wanted to kind of, you know, kind of what do we call here?
3:26
I'm in a spitball, right?
3:27
I'm just going to riff on this article and talk about some things that it might make
3:31
sense for you to pay attention to in the new year.
3:34
So Redfin's 2021 housing market predictions, 14.5 million Americans will move out of town
3:40
fueling 10% sales growth.
3:43
So what they're saying is that with the end of the pandemic in sight, more people will
3:47
leave, more people will relocate than in over a decade.
3:52
So what does this say?
3:53
This says that the year, the coming year 2021 is going to be a great year for purchase
3:58
business for sure, right?
4:01
And many of you, most of you already know that's where a majority of your attention should
4:05
be.
4:06
But let me walk through some of the highlights of this article.
4:08
Clearly, it's going to be a strong market.
4:12
Rates are going to remain arguably low, making this the strongest year of home sales since
4:17
2006.
4:18
Okay.
4:19
So let me go through some of these predictions.
4:21
These are predictions.
4:22
Do I have a drum roll?
4:24
No, I don't.
4:27
But I have a prediction number one.
4:30
What will happen to mortgage rates that will remain?
4:33
Can you guess historically low at 3%.
4:35
All right.
4:36
So everybody gets that.
4:37
That's cool.
4:38
I want to predict your number two.
4:39
There will be more home sales than in any year since 2006.
4:44
As I said, but price growth will slow.
4:47
So the rate of appreciation will slow, right?
4:52
They say annual sales growth growth will increase from 5% in 2020 to over 10% in 2021.
4:58
That's double, right?
5:01
Areas with the fewest COVID-19 cases per capita are seeing 60% faster growth in the number
5:07
of people listing homes for sale than areas with the most cases per capita.
5:13
And this goes on to talk about as COVID-19 cases, hopefully the client due to vaccination,
5:18
what you can expect is more new listings to make for a more balanced market, more home
5:21
sales.
5:22
Yay.
5:24
We need more listings, right?
5:26
Because new listings declined 3% in 2020 as compared to the previous year.
5:31
But in 2021, red fins expecting new listings to grow by over 5%.
5:35
Well, that's nice, right?
5:37
That means perhaps less competition, perhaps less multiple bids, perhaps more buyers can
5:42
actually get the houses that they want.
5:44
That's a really good thing, right?
5:46
Okay, prediction number three, there will be more new homes built than in any other year
5:53
since 2006.
5:55
So there's a building boom going on.
5:59
And if you are somebody who wants to target builders or has been targeting builders, you
6:04
know, and you've got relationships there, now's the time to dig in and build your relationships
6:08
over there.
6:11
Building permits were up 21% from September to November compared to the same time last
6:15
year.
6:19
So low rates have been making it easy for per four home builders to borrow more cheaply.
6:25
Rising prices for existing homes will increase driving more buyers to consider a new one.
6:29
Uh-huh.
6:30
And because home buyers are now eager to buy in suburban and rural areas where land is
6:34
cheaper than in cities, there will be more areas where homes can be built profitably.
6:37
All right.
6:38
So get your new build game ready, right?
6:41
And all that goes with that, your competitive sales proposition.
6:48
Prediction number four, the number of Americans relocating will be the highest that's been
6:51
in 16 years, which will help the economies of affordable places like Buffalo, shout out
6:56
to Buffalo.
6:57
My old stomping grounds actually grew up there before I moved to New England, Cleveland
7:02
and Pittsburgh, okay?
7:05
So obviously the pandemic has created a lot of movement and disruption.
7:10
There will be a 25% plus increase in out-of-town movers last time there was this much cross-country
7:16
migration was 2004 when 15 million Americans moved counties and obviously with the increase
7:23
of remote work many families are able to move to more affordable areas away from the office.
7:30
So there's a couple of things in here in terms of predictions and what's happening in
7:33
trends and things like that, that, you know, this is the time for you guys when it comes
7:37
to content marketing, when it comes to your brand, when it comes to you showing up and
7:40
be present, what are you talking about online?
7:44
You know, I work with a handful of people, just a handful, right?
7:48
Realtors and mortgage originators who are doing a good job of putting out content relevant
7:54
to these exact people that are migrating, that are moving out of perhaps big cities or
8:00
costly areas such as California, New York, etc.
8:03
And they're moving to more affordable areas such as Nevada, Arizona, Colorado, Florida,
8:11
you know, I mean, if you pull a list, search Google of, you know, where people are moving
8:17
out of and to, you're going to get a lot of insights, okay?
8:21
So that's good news for those local economies, right?
8:24
Because what's happened is back in the day, people lost a lot of their populations, right?
8:28
Like Buffalo, I mean, I left Buffalo, right?
8:29
Because the heck the winners were terrible.
8:32
But Buffalo, Cleveland, Pittsburgh, right?
8:34
They lost over 40% of their population since the 1970s.
8:38
Why?
8:39
Because high earning remote work was migrate to, you know, where the jobs were and where
8:44
the economic opportunity was and so forth.
8:46
Does that make sense?
8:47
Okay.
8:49
All right.
8:50
So prediction number five, the home ownership rate will reach 70%, 70% for the first time
8:57
since 2005.
8:59
Wow.
9:02
That is amazing.
9:04
So one point the article talks about here with prediction number five is that, you know,
9:10
people living in expensive cities, only to be close to work.
9:13
Of course, remote working now.
9:15
They're abandoning their apartments to buy their first home in more affordable places.
9:19
As small time landlords in urban areas lose tenants, they will sell their investment properties.
9:25
So if you're looking to buy investment property condos or whatnot apartments, this might
9:28
be an opportunity for you.
9:31
The surge in condos for sale will sell according to this for a discount, right?
9:38
Roughly 17% relative to single family homes.
9:41
So what's happening is that's going to give many city dwellers the opportunity to become
9:45
first time home buyers as well.
9:47
So again, another positive trend towards first time home buyers.
9:50
Again, think about your content, think about the narrative, think about the discussion,
9:55
think about how can you insert yourself into the dominant thought that's already in a
10:02
lot of people's minds?
10:03
And what is that?
10:05
I got to get out of the city.
10:07
I got to find a more affordable place to live.
10:10
I'm looking to have a change of lifestyle.
10:12
I'm looking to get out of this state or that state.
10:16
I'm considering to move to a certain area.
10:19
I mean, again, back to my example, in working with certain people, loan officers and
10:24
realtors, one area of opportunity to have a presence around this is YouTube, right?
10:31
Because guess what the second largest search engine in the world is?
10:35
No, it's not being, it's YouTube, okay?
10:40
What I mean by that is people go to YouTube to search for answers to questions similar
10:45
in the way they do to Google, right?
10:47
As a matter of fact, even if they do go to Google and there's a video that is relevant
10:51
and has a decent view, you know, a watch time, there's a good chance that that video's
10:57
going to get served up as an option during the Google search, okay?
11:01
So this again, guys, is another reminder.
11:04
I talk about the hybrid originator, right?
11:06
This is the game we need to play.
11:08
This is, we need to be where the attention is.
11:10
And right now the attention is online.
11:12
People are searching for this stuff.
11:13
I mean, if you go to, you know, different search engine tools like, let's see here, I believe
11:20
this is a good one.
11:21
HREFs, keywords research tool.
11:24
If you go to just, you know, use the Google search tools.
11:27
If you want to, what is that one tool?
11:30
I forget what it is.
11:31
So yeah, you can go to Google trends and find a different trending searches, right?
11:38
So what I'm telling you is this is the way to get attention and become known, which,
11:43
by the way, is a requirement in this business unless you are well established and have, you
11:49
know, a solid book of referral pass client database and all that stuff.
11:52
But most of us are still, right, in the space of we need to become known and generate
11:56
and prospect, right?
11:57
Generate opportunities.
11:58
Well, again, the hybrid loan officer does that in combination of ways.
12:01
One is, of course, the referral partner relationships.
12:04
We talk about that a lot here.
12:05
It's the pass client database.
12:07
We talk about that.
12:08
But it's also the, you know, kind of the more proactive, if you will, content marketing,
12:13
personal branding through content, because content is how you become known.
12:17
Content is how you engage with others and people are searching for content.
12:22
What are you putting out for content, be it videos, articles, you know, whatever the
12:27
case is, your newsletter, okay?
12:30
But again, this is a trend and it's about getting in front of a wave and benefiting from
12:37
it.
12:38
So start to think about, are you in an area where people moving into, right?
12:41
Are people evaluating, should I move to this city or town?
12:45
Or what's happening in your local city of town, right?
12:47
Maybe there is a bunch of new builds going on.
12:50
Maybe there are actually some condos that are that are being built for, for first time
12:55
home buyers, right?
12:56
I mean, obviously not everyone is going to or can move to a rural area, right?
13:01
There are still people who are going to live in condos and apartments and stuff like that.
13:05
So let's move on point number six, prediction number six.
13:10
What are the housing markets, hottest housing markets?
13:12
Well, according to this, San Antonio Tucson Tampa, along with Austin, Phoenix, Miami, um,
13:19
oh, wait a second, I said that incorrectly, San Antonio Tucson, a Tampa will be the hottest
13:23
housing markets as major southern cities like Austin, Phoenix, and Miami become unaffordable.
13:27
Well, I don't know if I agree with that.
13:30
I wouldn't characterize Phoenix as unaffordable.
13:33
Austin is, yes, seeing prices come up because of the influx of people from California, for
13:39
example, somewhat true in Arizona, somewhat true in Nevada as well.
13:43
Miami, I don't know if I'd call that unaffordable.
13:45
I guess it's all relative, right, based on your income, but we look at some, some stats
13:51
here, according to this, right, for years, Americans have been leaving expensive coastal
13:57
cities for more affordable southern cities like Austin, Phoenix, Miami, but they also
14:01
have become unaffordable for both court residents and new potential migrants, as we experience
14:06
of increase in population and housing markets heat up.
14:09
And let's see here, they go through some housing numbers in terms of average costs and
14:15
stuff like that.
14:16
So, but as the article, I just pointed out, most of the buyers are coming from out of
14:20
the state, California, Seattle, Oregon, some East Coasters too, said Tucson, Red Fit
14:24
Agent, Kendra, Harrow.
14:26
They're usually torn between Tucson or Phoenix, but they'd like Tucson more because it has
14:31
less traffic, it's small, you can get even more for your money.
14:33
So again, people are in this situation of where they're looking for quality of life, right?
14:37
And this goes back to your content strategy.
14:40
How can you demonstrate and show quality of life in your local area, right?
14:44
How can you show like the top 10 cool, fun things to do in your town when it's not a
14:49
pandemic, right?
14:50
I mean, for a long, long time, right, the goal you've heard the term digital mayor, you
14:56
as a mortgage professional, equal opportunity as a real estate agent to become the digital
15:00
mayor.
15:01
As a matter of fact, you could team up, you could interview, you could highlight and feature
15:04
and sponsor one agent a month as you being the digital mayor to help them help you feature
15:11
local happenings in hot areas and talk about stats and data and what's happening in
15:15
the average market updates and things like that.
15:18
So again, this is your opportunity to get out in front of this trend and enter, right,
15:24
insert yourself in the dominant thought that's already happening people's mind.
15:29
You will benefit from this.
15:31
Okay, prediction number seven, pretty obvious, expensive cities will invest in their culture
15:35
and lifestyle to attract residents and tourists.
15:38
So pretty clear that as employers decide to stop expanding their offices and expensive
15:44
cities like San Francisco, Seattle, Boston, New York, they'll expand their satellite offices
15:49
in more affordable places like Phoenix, Atlanta, et cetera, and this will of course encourage
15:53
even more office workers to leave expensive cities.
15:58
But these cities won't die just because office workers leave.
16:01
These cities will have to be reborn with a greater emphasis on culture and lifestyle
16:05
to attract residents and tourists.
16:06
Yeah, so I think that's what's going to happen, right?
16:09
You see people talk about New York City being a ghost town or whatever and all that stuff.
16:16
I think it's just right because of COVID, it's going through a shift, it's going through
16:20
a change, a rebirth, and they're going to have to adapt and attract people for different
16:25
reasons.
16:26
So I think it's going to take some time, but obviously they'll definitely succeed at
16:30
that.
16:31
Prediction number eight, most home buyers will make an offer on a home site unseen.
16:38
Get that.
16:39
This is the time to get with your realtor partners in spring of 2020, 45% of recent home
16:43
buyers reported they had made an offer on a home site unseen and recent trend data showing
16:50
the trend is becoming more common.
16:52
Views of 3D walkthroughs on Redfin where a home buyer can point and click through a 3D
16:56
scan of a home if increased 560% since February, video tours where an agent views a home while
17:05
the buyer is on a video call represented less than 1% of all tour requests on Redfin before
17:11
the pandemic and now account for one in 10 home tour requests.
17:16
So it's spiked up, surged in a significant way.
17:23
And it's only, you know, the question is, is this going to continue and I think what's
17:27
happening because of COVID in the pandemic is that there are new, there's always been
17:30
this hope with this expectation of that real estate mortgage would adapt and become more
17:34
tech friendly and look, virtual tours have been around for a while, right 3D walkthroughs
17:38
have been around for a while.
17:39
It's not necessarily new, it's just now it's brought to the surface as one of the first
17:45
things people might consider or ask for.
17:48
Does this mean that the majority of people will buy a house site unseen, probably not,
17:52
but do they want the luxury or opportunity of possibly doing it?
17:58
I don't know, maybe sometime down the road, we will see, you know, most of the people
18:03
buy a house site unseen and I think people are, you know, kind of taking that on, what
18:10
I am seeing happen though is that people are asking, hey, do I really need to go look
18:14
at 10 homes to find the one I want to buy?
18:17
I can't, I just do a virtual tour of the 10 and then pick the one or two or three that
18:21
I actually want to go see inside.
18:24
So that's definitely happening as well, but I do, you know, real estate agent classes
18:27
every single week on Zoom and I asked this question of realtors all the time, have you
18:32
sold a home site unseen, right, this year?
18:35
And the number of hands are going up, yes, yes, yes, and the frequency or the quantity
18:42
of homes in a one large, very successful agent in Tennessee who has sold 10 homes site
18:48
unseen this year, whereas prior to the pandemic, it was one home, right?
18:54
So it's accelerated, the demand, the expectation again comes back to you, ask yourself the question
19:02
how can you position yourself in front of this?
19:05
How can you step into the conversation that's already happening and create awareness for
19:10
you become known?
19:13
Could you learn how to do a virtual tour?
19:17
Could you offer to, right, walk through a house and open house on behalf of real estate
19:22
agent and have your halt, you don't have to do a live stream with your mobile phone
19:25
and just walk around, show the home off, right?
19:28
These are different ways to get, notice, get attention to leverage content and become
19:34
a hybrid loan officer, become digital savvy.
19:37
As a matter of fact, in the classes that we teach, one of the classes we have, that loan
19:41
officers teach to real estate agents is how to host a virtual tour, how to host a virtual
19:46
open house, right?
19:48
How to do a live stream virtual tour and we walk them through processes and step of how
19:53
to do that.
19:54
Why?
19:55
We just need to know how to do that and if you as a mortgage originator can help them
19:58
get started doing that by just simply educating them, right?
20:01
That will drive conversations and opportunities for you to engage, right?
20:05
And that's the name of the game, guys, right?
20:07
We got to fish with a better bait.
20:09
We can't always be fishing with, hey, I'm a great lender, I close on time, I got great
20:12
rates and just give me a shot and I, you know, all that usual traditional stuff.
20:17
How about offering some real true value with an educational platform?
20:20
That's just one of over 15 ways, 15 different classes, different topics that we have on
20:25
that.
20:26
And if you want to learn more, you can go to mortgagemarketing.pro.
20:34
Go to mortgagemarketing.pro, watch a brief video and all the classes are Zoom friendly
20:38
and ready to be delivered over Zoom and will successfully drive conversations and engagement
20:44
and referrals for you with real estate agents just as it has been done for many, many
20:52
of our members.
20:53
So you can go check that out.
20:54
All right, prediction number nine, we're almost at the end of our list here, 2021 will usher
21:00
in a new era of price competition for real estate agents.
21:03
Wow, like it already wasn't competitive enough.
21:06
I'm just reading through the article right back, I said I'm riffing on this, I'm just
21:10
spitballing here, okay?
21:11
Okay, so just a couple of comments about Redfin, yeah, fees won't drop overnight but increased
21:16
transparency will usher in a new era of price competition, a buyer will be a buyer, able
21:21
to see what her agent will earn on a sale, may negotiate for a refund or work out a fee
21:25
for service arrangement, sellers will now be able to see the commissions their neighbors
21:29
are offering.
21:32
We'll factor this into what deciding what commission to offer on their own homes.
21:36
Okay, I buyers, you've heard of them, instant offers from Zillow, open door offer pad, right?
21:41
I buyers and builders will also put downward pressure on buyers agents fees as they look
21:46
for ways they could cost because they're selling multiple homes at the same time.
21:51
In the same market, they have been able to experiment with harbouring a lower commission
21:55
to the buyer's agent, blah, blah, blah, blah, blah, all right, well, which is face it,
22:00
if it's still going to be a very frothy market, there's still going to be some pricing competition
22:04
for sure.
22:05
I'll be it hopefully less if we get some more less things that come on the market, like
22:09
we talked about earlier, that would be a nice relief to see.
22:12
But once again, see, I look at every one of these things and I'm asking, where can I help
22:16
as a mortgage originator?
22:17
Where can I make a difference?
22:19
How can I help my buyer offer be accepted?
22:22
For instance, as a loan officer, when you're representing the buyer, do you call the listing
22:27
agent and introduce yourself, right?
22:32
Reestablish reassure confidence in your buyer, right?
22:35
I mean, because basically it's your job to sell the capability and the assuredness of
22:46
that contract to close to all parties, to the agent themselves representing the buyer,
22:52
right?
22:53
Obviously, to the underrider, right?
22:55
To the listing agent, though, I mean, when I asked this question of loan officers, it's
22:59
only a handful of loan officers that actually call and make a case.
23:03
What would that sound like?
23:04
It would sound like, you know, hey, Bill Smith, this is Jeff over at ABC Mortgage and
23:07
I'm representing the buyer, that you're listing at 123 Main Street.
23:10
First of all, I want to say congratulations, fantastic property, great listing, I'm sure
23:15
you get a lot of offers on it, right?
23:17
Well, cool.
23:18
Hey, I just want to let you know, I'm representing the Smith family and I've got their entire
23:21
documentation here, their assets, their income, right?
23:24
We've reviewed, we've reviewed credit and I just want to know that there are a box solid
23:32
buyer, right?
23:33
I've got a pre-written underriding approval here, I've got this, I've got that and this
23:37
family, by the way, you know, this term is this agent at 123 Main Street listing, this
23:40
family is an amazing family.
23:41
Let me just tell you, they're good quality people, they're kids, they're dogs, they're
23:45
dogs, right?
23:46
I'm just saying credit case, credit story, right?
23:49
Because I've talked to loan officers who do that and the listing agent winds up taking
23:53
that offer simply because you did a better job representing the buyer than perhaps the
23:57
other loan officer agent that might be another offer or something like that from a different,
24:02
right?
24:03
Collection of people.
24:04
I mean, really, besides that guys, it's another way to grow your sphere of influence
24:10
and build relationships, you know, the automated updates that go out from your LOS and your
24:14
system.
24:15
Wow, that's great.
24:16
That's wonderful.
24:17
That really doesn't create a connection.
24:18
And if you're not doing regular status updates to the listing agents as well, you're missing
24:22
out on an opportunity, okay, so I'll just share that with you.
24:27
Prediction number 10, everything associated with buying or selling home will be offered
24:30
at one stop shops.
24:32
Uh oh, what does this mean for you?
24:36
What does this mean for all of us?
24:38
I mean, what does this really say?
24:41
It says the biggest real estate companies work to become a one stop shop for customers,
24:45
integrating home trade in cash offers, concierge listing prep, mortgage, title insurance,
24:51
home warranty and moving services.
24:53
I mean, let's face the consumer has spoken and wants that, right?
24:58
They want is a smooth frictionless transaction as much as possible.
25:02
And the one stop shop has been appealing, right?
25:04
That's why you've seen companies like Zilla try and do that and real estate companies have
25:08
in house mortgage companies and title and insurance and all that stuff, right?
25:12
Consumers want real estate to provide the on demand service they've come to expect in
25:16
other industries, right?
25:18
From Uber to grocery to Amazon, right?
25:22
They're being trained on what the consumer experience should be from other industries
25:26
and companies.
25:28
So agents, for example, they're going to probably be continuing to look for companies if they
25:33
want to remain relevant, looking for companies that help and deliver that service.
25:38
So how can you really make an impact here or difference, right?
25:41
You can't control what agent or what company an agent works for, but what you can control
25:46
is the consumer experience.
25:48
The degree to which you minimize and reduce and remove friction from the transaction.
25:55
And while it's easy to sit there and point fingers and blame this person or the agent
26:00
or blame your processor or this or that or whatever, I mean, ultimately, I would be taking
26:06
a look at my business and part of my strategy for the new year would be where is it broken?
26:12
Where are there inefficiencies?
26:13
Where is there, quote, friction to use that term, which might be overused, but it's quite
26:19
descriptive.
26:21
Have you done an audit on your own customer journey, your own sales process, your own
26:27
approval process?
26:30
Have you done post-close interviews with your referral partners and clients?
26:35
Are you actually actively, proactively looking for where you can improve the process, the
26:43
communication, the back and forth to the best of your ability, allow the consumer to feel
26:52
that it's a one-stop shop?
26:54
Because I remember reading research from the past that said one of the biggest frustrations
26:58
with clients is that they feel that the realtor and loan officer don't talk, like they're
27:03
not on the same page.
27:07
So I don't know if that's you, maybe, and I'm sure it's different with different agents
27:11
in terms of how active and engaged they are, but again, guys, this is your opportunity,
27:15
right?
27:16
Here's, you know, we, you get what you tolerate.
27:19
Let me say that again, you get what you tolerate.
27:23
So if you're tolerating inefficiencies, if you're tolerating unprofessional agents, right?
27:30
If you're tolerating drama, maybe it's time to take a look and re-evaluate that.
27:38
Same is true for your own internal team, where can you have conversations that will improve
27:42
the process?
27:43
Are you meeting and doing pipeline reviews often enough, minimum, minimum three times a week
27:49
for 15 minutes minimum, right?
27:53
How often are you pulling back the curtain and taking a look at where you can get additional
27:59
efficiencies with people, process, and technology?
28:05
Because as a hybrid loan officer, the future of your business is in both your past clients,
28:13
your sphere of influence, right, your database, and what you do online in generating content
28:19
and awareness, your personal brand, self-gen leads, and consumer direct.
28:23
You've got to be successful at both, right?
28:29
So the first place I would take a look at is what your customer experience process
28:32
like, because if you're going to be going consumer direct and your process sucks, you're not
28:38
going to do well.
28:40
So these are the 10 predictions from Redfin 2021.
28:43
I'd love to hear your thoughts on this.
28:46
Jump in the Facebook group, go over to Facebook, type in mortgage marketing radio, give
28:50
me what your thoughts are on 2020 housing 2021, housing market predictions, and what areas
28:55
you're going to be focused in working on.
28:57
I hope you got some value from this.
28:58
I'll put a link in the show notes to the article.
29:00
You can dive into it yourself.
29:02
And we're going to continue to talk about some of these topics in the coming year.
29:06
I just wanted to send you off with a couple of little things to think about as you're
29:10
heading into perhaps a window of time where you can evaluate what parts of your business
29:15
to focus on in 2021.
29:17
With that said, I bid you do wish you a Merry Christmas and a happy New Year.
29:22
And we'll see you on the next one.
29:24
Bye for now.
29:26
Hey, guys, what's up?
29:32
Real quick.
29:33
You've heard about the mortgage marketing pro membership before.
29:35
And I just want to quickly remind you of that you're in a place in your business where
29:38
you simply need more purchased loans.
29:41
You need to fill your pipeline with purchase business.
29:43
Let's just face it, agents are still a solid pillar of business and sources of purchase
29:48
business for you.
29:50
Well, good news.
29:51
Our mortgage marketing pro membership helps loan officers like you close more loans without
29:55
the hassle of chasing agents or cold calling.
29:58
Done for you, agent classes, expert training videos, a marketing automation platform that
30:03
automates the entire process for you, everything you need to build your personal brand in your
30:07
local market, attracting convert agents into referral partners, plus done for you proven
30:13
marketing materials and plug and play content to make promoting your class, getting agents,
30:18
butts and seats, partnering with affiliates, real easy.
30:22
But that's not all.
30:23
You'll also get access to our weekly mastermind calls with top L.O.'s authors, speakers,
30:29
and coaches to learn the best strategies to grow your business right now in today's
30:33
market.
30:34
And as an extra bonus for limited time for all new members, you'll get access to a database
30:40
of 200 agents in your local market that have closed anywhere to from eight to 50 transactions
30:46
in the last 12 months.
30:48
And we'll provide that list uploaded into our platform for you so you can get off to a
30:52
fast start in reaching actually productive agents.
30:56
So what are you waiting for?
30:57
You can check out more at mortgagedmarketing.pro, see more of the success stories there.
31:02
And if you feel compelled to do so, book a call, we'll have a chat.
31:05
We'll see if it's a fit.
31:06
Don't miss out on this opportunity to take your mortgage business to the next level right
31:10
now.
31:11
Head over to mortgagedmarketing.pro.