Rising interest rates and stratospheric housing costs continue to push the dream of homeownership further away for many people. A recent Visual Capitalist infographic mapped out what prospective homebuyers need to earn to purchase a home in 50 U.S. cities. Key findings include: • Prospects need to earn an annual salary of nearly $100,000 to […]
What Prospects Need to Earn to Buy a Home in 50 U.S. Cities Read More »
Mortgage boom or bust cycles are nothing new. But what’s different about our current marketplace involves the degree of fluctuation we’ve seen in the last few years. A recent Visual Capitalist infographic clearly illustrates the industry’s epic shifts and hints at the challenges ahead. Key findings include: • The U.S. 30-year fixed-rate mortgage reached its
Visual Capitalist Charts Mortgage Banking Highs and Lows Read More »
With the recent release of ChatGPT and similar applications, artificial intelligence (AI) has hit the mainstream and there’s no turning back. As more consumers rely on AI to help them navigate the home-buying journey, lenders and LOs would be wise to get familiar with what AI can and can’t do and adjust their selling models
Are Your LOs Prepared to Sell in the AI Age? Read More »
As older, more experienced LOs hit retirement age and exit the business, mortgage bankers are under increasing pressure to hire and train younger sales professionals. To successfully recruit these up-and-coming workers, managers will need to understand the differences between generations so they can bridge the gap and attract new sales talent. Here’s what you need
Recruiting Younger LOs: Crossing the Generational Divide Read More »
If your LOs are not actively courting Latino home loan prospects, your lender could be walking away from massive profit potential, according to the latest stats from The National Association of Hispanic Real Estate Professionals® (NAHREP). Why it matters: • The Hispanic homeownership rate has risen to 48.6% – marking 8 years of steady homeownership
Hispanic Borrowers: Are Your LOs Bypassing this Massive Opportunity? Read More »
Not unlike winter-weary gardeners eager for signs of spring, mortgage managers and LOs are keeping watch for better days in the housing marketplace. According to recent research from Redfin, housing recovery may be in the air. Let’s take a closer look: • Taylor Marr, Redfin chief deputy economist, noted that the company’s Homebuyer Demand Index,
Early Signs of Recovery in the Housing Market? Read More »
It’s hard to believe that 2022 is almost a wrap! Here’s a quick look at the top 10 blog posts for the year. How to earn repeat business, thrive amid rising interest rates and connect with real estate agents were among the most popular topics. Here’s the complete list: The Number 1 Strategy LOs Can
Pat Sherlock’s Top 10 Blog Posts of 2022 Read More »
For lenders that want to attract and retain younger LOs, investing in training and career development will be essential. Why it matters: By 2030, members of the Baby Boomer generation will be at least 65 years old. This means many older, more experienced sales professionals will be exiting the workplace and taking their selling
The Winning Strategy for Hiring and Retaining Younger LOs Read More »
For those who not only want to survive but thrive in our current volatile marketplace, best-selling author Jeb Blount shared these success strategies for lenders and LOs: • Be Prepared. As Blount noted in a recent podcast, “Winter is coming!” and now is the time for sales professionals to think like a squirrel and take
3 Success Strategies: How to Sell in Volatile Times Read More »
If your sales force isn’t tapping into a more multicultural market, you and your lender could be leaving millions in new business on the table. Why it matters: The buying power of African American, Asian American and Native American consumers, has increased exponentially to $3 trillion in 2020. Source: University of Georgia’s Selig Center
The Smartest Move Lenders Can Make in 2023 Read More »
