Letter From AIME Leadership 1-8-24

Happy New Year!

2023 was one for the record books. For most of the mortgage industry, it was a year of uncertainty. It tested our resilience. Even the most established Originators felt the impact of higher rates on their production. And just as we have for decades and through every market cycle our community rose to the occasion and we persevered.?

While production slowed down many mortgage professionals used the time to perfect processes and prepare their businesses for the opportunity that was inevitable. It was never a matter of ‘if’ rates would come down – it was always a matter of ‘when.’

This new year is full of opportunity. Whether you want to expand your licensing footprint into additional states, grow your team, or focus on increasing your personal production, having a plan is essential.??

Our focus this month is ‘Back to Basics.’ When we look around at the people who have weathered many market cycles and are still standing, there is a clear and consistent message: They have never stopped performing the basic business-building activities that work.?

Prospecting activities and relationship cultivation cannot be dependent on the market. These activities have to happen no matter how busy (or slow) your business is. Consistency in your activities has always been the key to building – and maintaining – a sustainable business.?

If you’re thinking that it’s too early to reach out to your clients because rates aren’t low enough to refinance yet, I urge you to act now – don’t wait. The media is already reporting on lower rates. Your competitors are already in front of consumers and Real Estate Agents talking about the market. Use the rate conversation as your reason for reaching out and you will be surprised at the opportunities that checking in with your database presents! Be the expert in your community. Be the first person that people think of when the subject of a mortgage comes up.?

While the basic concepts of prospecting haven’t changed much over the years,? the mediums by which we communicate have evolved. There are many ways to stay in front of your existing database and to reach potential clients & referral partners. A.I. is an incredible tool you can leverage today to help create content for use in email campaigns, text messaging, call scripting, and social media posts across multiple platforms.?

Use a social media calendar to plan out your content and then leverage a scheduling tool to ‘set it and forget it’ so that you are in front of your followers with regular posts and supplement those pre-scheduled posts with real, authentic content throughout the week.?

Create a weekly email to your customers and referral partners offering them information on the market, unique loan programs, or even frequently asked questions that homebuyers often have.?

These are just a couple of examples of ways to offer value and become the expert on all things mortgage. When you put yourself out there, and stay consistent, the business will follow.?

The saying goes: “Make the comeback greater than the setback.” This is our comeback year. What will your comeback story be?

Jamie Cavanaugh

VP of Outreach