A few weeks ago I mentioned a couple of points that bear repeating. I got a lot of feedback on these points, so please indulge me while I expand on them.
The first was my comment about the "head of lettuce" syndrome and how you should not let this happen to you. Simply put when you are in the grocery store, for the most part all the heads of lettuce appear to be the same. There is not much to differentiate one from another. Does this sound like you? If you are a regular reader of this column and Broker Universe on line, I dare say not! You know how to market yourself and your reverse mortgage practice and would not fall into this category.
I received a lot of questions about this when the pricing changes started a few weeks ago. Reverse mortgage originators who had previously positioned themselves as the local expert suddenly froze in their tracks. Don't worry, at Reverse Mortgage Success, we thawed 'em out!
The second point I mentioned a couple of weeks back was about creating your "blue ocean." This refers to a book that was recommended to me by a very wise individual. The title is "Blue Ocean Strategy: How to Create Uncontested Market Space and Make Competition Irrelevant" by W. Chan Kim and Renee Mauborgne. Sounds like a great idea, right? Well, it is, and its message can easily be applied to your own reverse mortgage business.
I must admit, I've been utilizing this strategy (rather crudely compared to how these accomplished authors present it) for some time. Whatever every other reverse mortgage originator in my area is doing, I'm doing something else. But it's even more than that. The strategies in this book will make you think.
Consider this in your area-go against the grain. I suggest you pick up this book and learn from it. I think you'll see your business in a whole new light and you'll develop some new strategies that you may not have been willing to try before.
Looking for other suggestions on reading material that is applicable to the senior marketplace? Just e-mail me at
