Think about it—there are very few occupations where you are all things to all people.
Take insurance agents for example. If they specialize in personal lines, they usually don't sell life insurance. There are doctors who specialize in family practice, but when it comes to a heart problem, the patient is referred to someone else. Even a firefighter—you either fight fires or you are a paramedic.
Take the mortgage business. Most of us start out by trying to all things to all people. In fact, most mortgage ads tout the fact that we can do every loan known to mankind.
However, when asking some of the most successful people in the biz today, each and every one of them has a niche market they specialize in.
"Pick a horse and ride it" is an old saying. Think of it this way—you drive up to the riding stable to go horseback riding in the mountains. You find a barn filled with horses. All different breeds, shapes, colors and sizes, with different temperaments. You could stand there for hours deciding which horse to ride but within a short period of time, you'll need to pick a horse to ride or you'll never get anywhere.
Comparing that to the mortgage business, picture yourself choosing a “horse” that will carry you into a long-lasting, extremely profitable career. Will you work with real estate agents? Specialize in a mortgage product? Specialize in a certain type of clients like first-time buyers, or become the vacation homes or condo expert?
Brand yourself with the local radio and TV as the mortgage expert in your community. Become the social media guru in your area.
Like thousands of different horses, there are thousands of ways to pick your specialty. I can't help you with that—it's something you only you can do! My hope is that this story is a metaphor that will help you become successful in your little corner of the mortgage and real estate world.
Karen Deis is the publisher of
