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Real Estate Mastery - Geographic Modeling

Mortgage and Lending with Cherry Creek Mortgage

June 22, 2007 11:44 AM

Creating Your Business Model (more than just your "Plan") is critical to maximum long-term success and Business Efficiency

What is it that separates the average-to-good business person from the one who is great? In the book Good to Great, you will discover that great business entities ultimately have a common denominator - each is highly focused on something in particular.

Focus in business is of primary essence. Let me use myself as an example. (I'll admit right now that I have my own opportunities for improvement.)

I am in business as a Mortgage Planning Specialist. In order to obtain income, I create Mortgage Loans for people. With that in mind, let me start expanding. My focus starts with my geographic perimeter. I am located in Colorado. I live just south of Denver in a rather affluent county called Douglas. More specifically, I live in a town called Castle Rock. Map of South Metro Denver Colorado with circle around Douglas County area and heavier circle within, around Castle Rock

I could focus my mortgage business on Colorado, or I could focus my mortgage business on the Denver Metro Area, or Douglas County, or Castle Rock. Thinking in terms of laser-focus, I have decided to make my primary mortgage market my hometown of Castle Rock and my secondary focus Douglas County. Will I do mortgage loans outside of that area? Duhhhhh! Yes, I will. Will I actively pursue mortgage loans outside of Castle Rock or Douglas County? NO!!

Although there is much business to be gained by having a less selective geographic focus, by focusing in a specific area, you eventually (by intent or accident) will become a de-facto expert in your chosen area and eventually your expertise will begin to precede you in the reputation you gain in the community in which you choose to focus. This is a key element in the pursuit of your long-term business model execution.

Real Estate Mastery covers many facets. Geographic focus is one great place to start.

Greg Polashock is a Real Estate Home Mortgage Loan Consultant and Certified Mortgage Planning Specialist with Cherry Creek Mortgage and resides in Castle Rock, Colorado. He can be reached via email at Greg@GregIsFinancingSolutions.com, by phone at 303-887-0672 or on the web at http://www.gregisfinancingsolutions.com/.

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Richard Dolbeare, R(B)

eXp Realty - Wailuku, HI

R(B), ABR, CRS...Hawaii Multi-Island Specialist

Interesting thoughts, thanks for sharing. I concur that it's key to have a targeted area where you build your name recognition and reputation.

Jun 22, 2007 11:59 AM

Greg Polashock

Cherry Creek Mortgage - Castle Rock, CO

Mr. Dolbeare,

Thank you for taking time to view and leave a comment. I guess Hawaii makes the geographic concept a bit easier to deal with. I wish you much continued success!

Jun 22, 2007 12:07 PM

Christopher & Bernadette Hurley

Go Hurley Group - Sugar Land, TX

It is always good to have a concentrated area in which one does business. But it is quite interesting that you give a secondary focus on a some-what larger area.

Great post!

Sugar Land, Tx
Where Life is Sweet

Jun 22, 2007 12:13 PM

Jack Haydon

Charles Rutenberg Realty - Clearwater Beach, FL

Clearwater Beach Condos - Real Estate Homes for Sale

Great post Greg! Most of us are guilty of expanding our geography to drive more transactions; which is short term thinking.

Jack

Jun 22, 2007 01:23 PM

Teri Eckholm

Boardman Realty - White Bear Lake, MN

REALTOR Serving Mpls/St Paul North & East Metro

Greg--Focusing on areas that you know best is key to real estate. Very good post...To the point! :)

Jun 22, 2007 02:30 PM

Mr and Ms. Hurley,

Thank you for reading my recent blog. I guess the comment about the second circle deserves a mention. I believe that every "approach" to business should have multiple prongs. With regard to an outer circle - I may focus my intensive marketing, for example in my inner circle, but will grow to outer pockets as a mode of planting seeds for future business growth. One of the "Seven Habits" - Begin with the end in mind.

Wishing you well.

Jun 23, 2007 04:14 AM

Mr. Hayden,

As a mortgage professional, no doubt I work with realtors. Without disparaging your profession, I find that too many people have the tendency to take whatever business comes. I have learned to choose my partners very carefully, as any real professional should. Just like you want to work with people who will represent you well, I expect the same of my partners. It just adds to the efficiencies within the business model. It's a great tactic to get to know how your partners "tick". In short, we all eventually become known by the company we choose to keep. (Hmmm - maybe a topic for an upcoming blog.)

Thanks for the feedback, and I wish you much continued success.

Jun 23, 2007 04:19 AM

Hey Teri!

Thanks for visiting my blog. As always, it is a pleasure to hear your thoughts. I am honored.

Be Great!

Greg

Jun 23, 2007 04:20 AM

Greg,

Agreed. We are partnered with a loan professional because we work so well together that our customers are constantly commenting on how smoothly things run with our (team).

Jun 23, 2007 01:23 PM

Jack,

Thanks for the response. I love it. You sound like your one of those professionals I'm always looking for! And, I'm sure your mortgage partner is just as lucky to have you as you are to have him/her.

Best Regards for Future Success!

Jun 23, 2007 01:53 PM

Real Estate Mastery - Geographic Modeling

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