Like-minded people network together. Isn't that what Facebook, MySpace and Twitter are all about? No one has ever used the concept of networking as much as Benjamin Franklin and look what he accomplished. Networking, done correctly is building an asset that helps you produce income without your direct effort.
Either you are working by yourself or you are working within the framework of a network that helps you produce business. Can you imagine this country being founded by someone that worked alone?
Networking is just like having a building that is paid for produces income for you every month. The top individuals in this country, in the world, rely upon their network to help them produce income. Are you working alone?
Last week we began a discussion about the difference between assets, doodads, and liabilities.
* Assets produce income in your pocket each month
* Liabilities takes money out your pocket
* Doodads are just things you purchase because you want to acquire something
Unless you dedicate yourself in acquiring assets, then you will spend your time acquiring doodads, if you are lucky, you will just purchase doodads and not liabilities like most American's.
Why purchase a liability? Most people don't know any better and most people are directed to by the rich that want you to be subject to them.
So what does this have to do with you, the originator?
Simple. What are you buying? What are you spending your time developing?
If not assets (they produce income) then they will either be doodads or worse liabilities.
If you don't know the difference, you will be fooled into helping your customers get into debt, stay in debt and perpetuate their debt for the remainder of their life.
An example of this is a recent conversation with an originator. "I am having a hard time with this loan." Why? Well "the lender is being too tough on the borrower." What do you mean? "Well, the lender does not think the benefit is substantial enough to warrant the refinance." How much will the borrower save per month? "One hundred dollars." The cost of the refinance? "Five Thousand Dollars." My response was are you kidding me?
Are you developing a process that generates leads 24/7 that you can actually help a borrower actually improve their life or are you generating leads that are a waste of your time, your customers time and your underwriters time?
Do you have referral partners working FOR YOU or are you standing on the street corner with a sign? (Will work for a loan?) Your choice.
Many programs exist that help you build a network of referral partners. I recommend the program developed by Greg Frost that can be found at
