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It's time for us to wake up if we haven't already!

Hi all: I opened our local newspaper this morning to the announcement that Starbucks is closing 600 stores and laying off 12,000 employees. This is on top of other news such as Boeing's stock price declining from a high of $110 to $65 and shipments by both FedEx. and UPS being down as much as 20%. And of course we know that our own marketplace has been severly impacted since last summer if not before.

I think it's time for us to wake up if we haven't already! I was reading Colleen Fischesser's blog the other day (thanks Colleen!) about the importance of us deciding how committed we are to this business and I agree. I'm not sure the economic picture will brighten until several months after the presidential election so we have to stay focused on our business until times get better.

I'm curious what you're doing and what's working to keep you motivated, productive, etc. I don't know about you but I'm always trying new things. Just the other day I secured 2 new domain names related to first-time homebuyers. I also continue to mail, send out my e-newsletter and network extensively. In other words, stuff that we all know we should be doing regardless of the market.

The worst thing we can do is sit around and mope. We should be looking for opportunities because they're out there! So good luck to all of you. I know we'll make it through and be stronger for it. Have a great 4th!

Paul

Posted by Paul McFadden Mortgage Loan Originator Renton Washington Mortgage Loans on 07/03/2008 12:25 PM

Comments (8)

motivation real estate loans mortgages the economy

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8 Comments on It's time for us to wake up if we haven't already!

Not networking = not working! I'm a sucker for advertising, but dollar for dollar, the most productive thing I can do with my time is be with as many people as possible! Hang tough!

07/03/2008 01:02 PM

by Rich Sweum (Homestead Mortgage)

i am focused on obtaining business by referral. i was in a coaching program through buffini for a while, but i don't need that level of micromanagement - just take the ideas, tweak them and go. it works!

i have cut WAY back (maybe too much) on print advertising, but who has any money these days?

a major project is growing my database of agents and obtaining referrals from them. i am good at what i do; so agents can and will refer with confidence - and they will refer again and again with increased confidence after they collect their first check! you can see my blog for agents - i also send the same content in email blasts to my database. very positive response. i tell all my secrets for cheap prospecting and marketing here... www.afriendinnova.blogspot.com

i also started a consumer blog and am getting great feedback - hopefully it will lead to more. www.therealestatewhisperer.blogspot.com I am still a newby at this still - but i learn quickly. your suggestions are welcomed.

i hope to hear what others are doing!

07/03/2008 01:03 PM

by Vicky Chrisner (Keller Williams)

Thanks for sharing -- attitude is "everything".

Also, when things do lift, the realtor who maintained a presence is always immediately busier, and those who "gave up" have to start all over again.

07/03/2008 01:41 PM

by Li Read at Sea to Sky Premier Properties

The way I see it is, I have a lot more time to focus on creating more client relationships, so when it does pick up again, I will be in a great place.

07/03/2008 02:08 PM

by Steve Dawson (Prudential California Realty)

I see this time as the real mortgage brokers/loan officers will shine. I have been in the industry for 22 years and it is all cyclical. If it is slow for one reason now, it was slow at one point for another reason. You then have to adapt to WHY? Now is the time for customer service. Realtors, buyers and refi homeowners now need us - the honest and knowledgable ones. Those of us who are surviving is because we know how to do a loan and what it takes. This is not like before that if you breath, you get a loan. We have to think now. For five years we didn't. I feel what we need to do know is have "customer service". Our industry has lacked customer service in a while. I have always had customer service and it is paying off now. I see that realtors, buyers and homeowners are very appreciative of my actually caring for their needs as well as my honesty.

07/03/2008 03:29 PM

by First Mortgage Equities, Inc.

Thanks, Kathleen. I agree with you and am finding that to be true. We should all be positioning ourselves now for the next upturn. Take care.

Good for you, Steve. we should always be doing this.

Li: Good thoughts. I definitely don't want to have to start over. Thus, my current motivation!

Vicky: Good luck to you. The key is to try a little bit of everything; as long as the budget permits. I think blogspot is a good idea. Good luck with that!

Rich: Thank you. I appreciate your support and encouragement. You do the same!

May you all prosper this year!

Paul

07/03/2008 05:38 PM

by Paul McFadden Mortgage Loan Originator Renton Washington Mortgage Loans (Exact Financial Group)

Hi Paul,
When the going is tough, the tough get going. So, come on gang!

07/04/2008 06:06 AM

by Cynthia Tilghman, Realtor® Onslow County NC Home Specialist (Kingsbridge Realty, Inc)

Thanks, Cynthia. I agree. We all need to encourage each other! Happy 4th to you!

Paul

07/04/2008 08:55 AM

by Paul McFadden Mortgage Loan Originator Renton Washington Mortgage Loans (Exact Financial Group)

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