It’s your mind. Make it do whatever you want.
I would be lying to all of you if I said I was a bit rusty when it comes to writing this blog. I’ve been pontificating (big word alert!) about what to write since the last blog was published. It’s tough because I could obviously talk about the January Jobs Report coming in above the estimates and how that’s helping keep interest rates down, or the fact that the refi market is here to stay because of the Coronavirus. But, what’s the fun in that? You’re getting pumped full of those stories daily, so my measly attempts to elaborate on those topics would fall on deaf ears or eyes, I guess.
Now… there’s a topic that we can elaborate on. How much control do you really have when it comes to the content you consume? Last week, I was speaking with one of the owners of a top performing broker shop in NJ (who closed $700M in 2019 and had only ever sent me 10ish deals… but I’m not salty) and we got on the topic of eco-systems, lead generations, marketing, Amazon and a few dozen other topics, but he said something that really grabbed me. He said, (and I’m paraphrasing of course) when it comes to marketing, our kids will essentially never not know what it’s like to say “…man I want a pair of Nike’s” and not have Alexa, your iPhone, Google, Instagram and whatever other tech gadget/social media platform that comes out by then hear that and then pump you full of ads to help you fill your retail compulsion.
So, in a way I guess you do ultimately have control over the content you see, but because of the advancements in technology along with data mining (thanks Zuckerberg)… we’re just shy of having our minds read in order to see ads for something we want. Scary right?! The only problem is you do have a mind AND it’s capable of circumventing a barrage of marketing ads telling you why you should buy a comforter that keeps you cool all night (I’ve had my finger on the buy button now for almost a year for that thing… it looks incredible).
Alright… now how do we apply this to the mortgage industry? I mean it’s already happening, right? Look at the ARIVE platform (for those of you who don’t know what that is… it’s a Loan Operating System for brokers). If I were a new broker just entering the space and I signed up with AIME, then signed up with ARIVE I would think, “…hey, look at this? Here are 5 lenders integrated with my new technology… let’s give them a try”. I could essentially stop the case study here because what I just explained is the eco-system style marketing at work. Literally, just because I signed up, I already have 5 lenders at my finger tips and because they now have my data (again, thanks Zuckerberg) they are going to pump me so full of marketing material that I could gag on product sheets. BUT! Here is the kicker… I have a thought or maybe I’m at a conference and I hear about another lender… now I’m saying to myself “…wait a minute. I AM A BROKER and what makes me so dope is that I can use WHATEVER wholesale lender I want!”
Don’t get me wrong here. I’m not bashing anyone or anything. The ARIVE platform is transformative technology for brokers, and AIME has created an unbelievable amount of awareness for our industry. All I am saying is that you… mortgage broker… are not a Loan Officer and should not feel tied into a lender because of all the advertising you see around you. You have options… lots of them. They make it easy! They have great rates! I love my AE! They actually eff’n care!! All I’m saying is use lenders because YOU’VE made the conscious decision to work with them. Yep. That’s all I got.
Talk to you soon,
The opinions expressed in this post are the sole view of the writer and do not reflect the opinion of Princeton Mortgage Corporation.
Photo by ev on Unsplash