Well, it’s the end of October. The leaves are falling; the weather has begun to change. This signals an important time of the year for me….planning for what looks to be a good 2011 in the reverse mortgage business.
This is the time of year to take stock of what your have accomplished so far in your reverse business. C’mon, be honest! If you are adjusting your plan each quarter, as I usually recommend, you have probably met or exceeded your goals. If not, or even worse, if you are working without a plan, or as I like to call it flying without a net, you are most likely looking back on the year wondering where the time went.
Are you looking for new ways to market next year? Committing to joining that senior networking group in your area? Vowing that in 2011 you WILL get those seminars and workshops on the calendar? Do yourself a favor. Close your office door, turn off the phone and take the time to put your plans in writing.
Be specific and give yourself time lines for each project. Start with the overall plan for the year. Know your numbers- what is your average maximum claim amount? What is your fall through percentage? This number may be different than in past years.
Some will look back and not be pleased with their 2010 numbers. Volume was down, but 2011 looks better. What are your best sources of referrals and leads? Which sources need more attention in the coming year? Which activities need to be scratched, and replaced with a fresh new idea?
I have a pretty simple form that I use when I make my plan. If I make it too complicated, I find I will not stick with it, but that’s just me.
I am going to roll out some new strategies for 2011. As I do, I’ll share them with you. Some have been on the “to do” list for a while but 2011 will be the year they are implemented. The timing just seems right. With the introduction of the HECM Saver, low rates and the continued economic struggles for so many seniors, there is much to talk about.
The coaching program will continue and include some additions for 2011. Watch for the announcements to come soon.
And let me know how the 2011 planning goes, it’s too important to put off. Start it today.
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. Sue 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
