Everyday I get calls from good people from the mortgage business and they tell me they are starving. There are way too many loan officers for the amount of new home purchases and re-finances going on right now in this market. Just yesterday, I spoke to Michael from Scottsdale Arizona, a man used to making $250,000 a year in the mortgage industry just resigned from his job yesterday. Scottsdale is the upscale neighborhood just outside of Phoenix Az. And the entire hot Phoenix real estate market has cooled off to a stand still. So what are all these good people going to do now?
Most of them will be go out and get sales jobs in another industry and start all over. The problem with starting all over is that they have no clients, no prospects and no income. Also, Do you know what happens to other industries when the real estate and mortgage industries crash? Usually other businesses slow down too. This creates a problem for the mortgage broker starting all over again. He or she will be starting all over again in a declining market.
What do you do? One thing you can do is look for a company that thriving in a down market. They are few and far between, but they are out there. There is an industry that thrives when others are slowing down. They are marketing companies that help other businesses market their products. When a decline in business occurs, businesses have to spend more money in marketing and advertising just to try to maintain. It has been this way for the past 30 years and it will continue to be this way for the next 30 years. I am fortunate enough to work for one of these growing companies in the marketing arena and the company is having its best year ever!
Brant has sinced written about articles on various topics from . Ex-Corporate guy with knowledge and life experience to share.. Brant's top article generates over 1900 views. to your Favourites.