Goals suck, right? Well, only if you have failed to develop a process of improvement as a way to develop goals appropriately. This article was supposed to be phase two of goals suck and how to develop a "Process of Improvement" that is reliable. I will return to that subject next week.
Today, I need to tell a story that is so outlandish that it is ridiculous.
My daughter and son-in-law are in the insurance business. They have built their business on relations with agents, originators and builders. Just like I tell you, I trained them to find and develop relationships with the folks that are at the epicenter of the transaction. They did and it has worked well.
Back to the story: A once in a lifetime experience occurred for them in that a buyer with a lot of money (inventor or something) flew into town on his own private jet to purchase forty houses for all of his poor relatives. Not only is he purchasing the houses but he is paying for new cars and health insurance too.
What is the likelihood that this story could be true? Zero! Well nearly zero.
What is the likelihood it will ever happen again? Double zero!
But as of today, the closing on the first 25 houses are taking place, the money is literally in the bank. This dreamlike amazing lucky opportunity that everyone has worked on is coming to pass. Now, I classify a deal like this as a wish not a goal but it is coming to pass. Will it ever happen again? Probably not. So, will or should my daughter base her company on a repeat? She better not.
This is the danger: This is the type of deal many loan originators build their lives chasing. You always hear them talking about the deal that just got away and the next big deal. My daughter even said once during the process, "I'm embarrassed to tell you Dad but this big deal with this guy is keeping me from wanting to work on the little deals." The glare in my eyes was enough for her to know my true feelings about that position and she quickly added "but I know I better and I am working my plan so that my plan can take care of me."
To reiterate, her plan is to develop relationships with agents, builders, originators that will refer their homeowner insurance business and then develop a relationship with the homebuyer to expand her sphere of influence and then do it again.
Instead of counting on a deal like this to ever materialize, I recommend that you deal with the bread and butter way of life: Find a real estate agent that has business and confidence in you that you know what you are doing and have them refer a borrower to you.
Then, do a great, and I mean great, job with the borrower.
This will cause the borrower to tell the agent that you are a meaningful part of their team and the cycle starts all over again.
Only then will the agent/builder/referral source place you at the top of their list as their team member.
Everything and anything else is a wishful and hopeful and not something to base your business upon.
By the way, the agent that captured this buyer is a real estate agent that my daughter has built a working relationship with over the years that sends her all of his business. Where else would he send the big deal? Of course, to the same team member.
I would like to hear your stories. Drop me a quick e-mail.
