Written By: Gibran Nicholas
Gibran Nicholas has just introduced the ARM Planner Marketing Program, which is the only program we know of to help loan officers show clients the benefits of using "Interest Only" ARMS compared to other ARM programs. He is President of Nicholas & Company Planning Solutions and more information about this product can be found at www.MortgageSpeakersBureau.com. If you would like to contact Gibran, please email him at finance@nicholascity.com.
Most loan originators are taught to track down top producing Realtors in their quest to find profitable business partners. I would submit however, that the most profitable opportunities are not found by chasing after the same relationships that everyone else is pursuing, but rather in creating your own market and going where others have not.
In any industry, including the mortgage business, it is only by being on the forefront of industry trends that great successes are created. Sure, there is plenty of average business out there for the average loan officer who is content with bringing in an average living. But an average living in the 2005 mortgage market is likely to be quite different than an average living in the 2003 mortgage market. This is precisely the reason why loan originators need to be actively pursuing new sources of business and creating new solutions to problems that most people don't even know that they have.
Just think about the evolution of the technology and computer industry.
A few years ago, consumers and businesses were considered to be on the cutting edge if they had computers and knew how to use them. Today, consumers and businesses are only on the cutting edge if they have wireless internet connections, PDAs, iPods and at least two or three other high tech gadgets. You see, the technology companies created a market for themselves. They are making substantial profits selling products that consumers didn't even know that they needed a few years ago! They created a need in the marketplace by educating consumers on how they can use all these new gadgets in their life, and then they met the need by selling their product that was specifically created to meet the need that they specifically created to sell their product!
Loan originators can accomplish the same thing by becoming "mortgage planners", "real estate equity managers" or "real estate investment advisors". In other words, let us make our living by educating consumers and financial advisors as to how they can manage their equity in their homes and real estate properties to create substantial wealth, and why they need us to help them accomplish this goal.
