A couple of weeks ago I asked the readers of this column to let me know what they are looking for from me in 2010. The response was swift and sure. You very much want to be connected to the reverse mortgage world and our senior clients. You want guidance and to feel your efforts are being supported. You've come to the right place.
So, let's look at how to really be "in" the business. What are you doing to reach out to others in the mortgage business? You may remember I have said several times that many of my referrals come from loan officers who used to be my competition. Just because we are in a different segment of the business (forward vs. reverse) does not mean we should cut ourselves off.
Join a local mortgage bankers or brokers group and attend the meetings. Be the only reverse person at these gatherings. What an audience you'll have. Offer to do a presentation for these groups. Getting out there and talking about what you do is great experience for you and you'll gain a bit of notoriety among your peers.
Don't forget the real estate professionals. Stay in tune with the market by being involved in your local board. Reverse Mortgage Success members are using this strategy every day and with huge results.
If you need guidance and support, don't hesitate to ask. If your company or broker is not supporting you, don't give up. Maybe you need to re-examine where you are. Do not blame someone else for your lack of reverse mortgage business.
Get out there and make it happen. We've talked before about having the proper marketing mix. I recommend you pick three strategies and concentrate on them. One is not enough and five is probably too many, especially if you are just starting out.
Stay up to date on the industry overall. Do you have a plan for getting all the reverse mortgage industry updates? Maybe you need a resource for that. For example, are you explaining the new counseling protocol to your customers so they are prepared for the session? Do you have a strategy for condo approvals going forward?
Things have changed a bit for us but if you are connected and informed, you'll continue to excel. Now go move forward - in reverse.
Sue Haviland is a reverse mortgage consultant in Baltimore and the founder of Reverse Mortgage Success, a leader in the training and education for originators around the country in the rapidly growing reverse mortgage arena. Ms. Haviland has worked in the lending industry since 1981. She has been originating reverse mortgages for the last six years and still originates loans every day. She has helped hundreds of families all over the country in the last several years. Sue also shares her knowledge of this market in presentations before the Women's Council of Realtors, Mortgage Bankers Association, National Association of Professional Mortgage Women, and SRES - Senior Real Estate Specialists, Brian Sacks' Insider Seminars, as well as the public. Sue is a Certified Senior Advisor and is active in many professional organizations. Sign up for her free seven-part mini-course at
