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Back To The Future -- marketing in a downturn -- September 7, 2004
More important to invest time, money in marketing during a slowdown than at any other time
-- posted September 7, 2004
Stop us if you've heard it: The mortgage boom is almost over. Yes, it's been almost over since about November, 2002, but who's counting anymore? Home sales are in record territory, Freddie Mac's benchmark 30-year fixed mortgage rate hit a five month low last week, and August, though down from July, saw an amazing 1.379 million transactions pass through our Mercury servers, a leading indicator that there continues to be a robust mortgage pipeline.
But the Fed has stared hiking the federal funds rate, the economy is improving - much of the recent spate of cash-out refinancing has been driven by hard times in the broader economic arena - and lenders, your customers, are bracing for a downturn. Which means they're planning on spending less. There aren't suddenly going to be fewer appraisers, so with less money to go around, how do you stay at top of mind when your best clients need the services of a professional appraiser?
Sam Walton, asked about his plans for a recession, once famously answered, "We don't plan to participate." He didn't, and his ... more

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