Surviving the Mortgage Implosion
Bill Rice CEO, kaleidico.com
Bill Rice (www.linkedin.com/in/billrice)
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What do I do?
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The Punchline
“If you don’t like change, you’re going to like irrelevance even less.”
-General Eric Shinseki, US Army Chief of Staff
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Hard Work
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Winners are Good Climbers
Roberto Salazar
Lance Armstrong
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No Silver Bullet
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But, Guaranteed it’s all about these guys
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Put down the banana; and take off the anchor
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Growth Strategy
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Economist make Lousy Business Plans Mortgage Implosion! Recession!
But really, “Mortgage Originations Expected to Fall 11% in 2007”
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Reality
$2.21 Trillion
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White House, ARM Rests, and The Fed
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Confused, Hopeless
Rates Equity ARM IO NegAm
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New Century, AHM, Countrywide
Subprime Implosion Recession Bailout Fed FHA
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Market for something to believe in…
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Challenges
Every client is a new challenge
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Climbing the Distrust Mountain
www.blownmortgage.com
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Don’t worry about the maze
FOCUS! FOCUS!
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A different path
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Your consumers are on the Internet
Where are you?
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Be Amazing!l
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Build trust
From the Company to the Loan Officer
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The new business card
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Stop doing this
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Start doing this…
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Treat consumer’s with respect
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Stop tossing your marketing dollars in the trash
Come get your leads!
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Look for innovation outside the foxhole
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Treat them like Glenngarry Leads
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There will be leaders; and followers
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Be Better
“Different isn’t always Better, but Better is always Different”
-Jonathon Schwartz, SUN
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Lead generation will change OLD NEW
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Generate a better lead
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Communities We’re already targeted We have sneezers
We have influencers We have TRUST!
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Get local, hyper-local
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Get off the roller coaster
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Stock the pond
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Someone has to be on top
Might as well be YOU!
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Catch the money
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Bottom Line
Where we start
No silver bullet Winners are good climbers Economist are lousy business planners Get real, work hard, NOW!
Lenders
Go where your consumers are--It’s the Internet, Stupid! Focus on the consumer Climb the distrust mountain Build trust and credibility; organization AND loan officers Treat them like “Glenngarry leads”
Lead Generation
Generate a better lead Content, Intent, Leverage Community, Get Local Stock the pond--Lead Management and Nurturing
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Connect with me!
Bill Rice www.kaleidico.com www.bettercloser.com www.linkedin.com/in/billrice www.twitter.com/wmrice bill.rice@kaleidico.com 734.782.1177
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