Beware of Shiny Objects

It makes your head swim doesn’t it?

This year alone, the mortgage industry averaged 22 mortgage rule changes per month (and that was just for loan originators). It seems like every day, there’s a new social media platform. Phone apps. Everyone and his brother and sister are talking about new ways to use them in your mortgage practice.

I realize that all those mortgage training companies (including me) want to share a ton of ideas, hoping that there might be one or two that you can incorporate into your business plan. That’s what we do and there is absolutely nothing wrong with that.

But the problem is that LOs want to try to incorporate everything — yes, Facebook, Twitter, video marketing, Active Rain, credit repair — basically the latest shiny objects — with no thought as to how it will get them business. It’s like you’re adding accessories to what you are wearing now — and nothing matches your outfit!

Here are my suggestions for your business planning purposes.

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