Some of you may have noticed my extremely low profile on Lenderama the last couple of months. Some may have welcomed it! But business has been very good and keeping up with the tasks of my daily blog along with the busiest time of year for me can prove daunting. Especially when still trying to maintain a marriage and kids.
What I have noticed from a real estate agent’s perspective is how mortgages being marketed to me has changed. Big time changed. A few observations;
- I no longer receive, on an almost daily basis, solicitations from mortgage generators looking for more business.
- A couple of the loan officers I know say business is still good. But that the drop off is noticeable. Sure enough, they stay in close contact with me. (Seems like a good idea. Personal marketing is still the best.)
- A few loan officers I know have simply disappeared. While KC isn’t tanking it’s still not a market for the feint of heart.
- The investment loan portfolio I can choose from (well, more-rather my client’s choice) is getting smaller and more homogenized all the time.
I know many an agent that has backed off, disappeared and a few that have taken jobs. So the shakedown has left it’s mark all over real estate. Including some inspectors I know that are no longer “full time”.
To those that are surviving I say “hats off”. To those that are thriving I say “congratulations!” And to both I say keep your nose to the grindstone. I expect more of the same before any kind of turn-around comes. Just my opinion.
Mortgage Industry Professionals. Like what you see?
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{ 3 comments… read them below or add one }
Having been through a shake-out of the investment industry when the dot.coms collapsed eight years ago, I would note that this kind of thing can be healthy for consumers. Boom times attract a lot of fast-buck types, while a down phase tends to whittle a profession down to people who are more serious about it.
What up, Chris!
Good for you…sounds like you understand and practice real estate like it should be done.
Glad to hear you are busy and thriving!
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