Our Blog

The sky is falling.  Wait, no it’s not.  Oh, I guess it is, just slowly.  Nope, strike that.  It’s in a free-fall.  And now it’s scraping along the bottom, awaiting a double-dip, but with a possibility were almost out of the woods. 

Until it falls again.What’s my point?  My point is that, when it comes to the economy at large or the real estate and mortgage market, there is not a single talking-head, self proclaimed expert or self-promoting author who has been consistently right about the trends and indicators of the past three years.  We’re in the middle of something out of Dr. Who or a 10,000 year flood—a historic economic cycle the likes of which we’ve never seen before.  Yet, we’re all confident we  know what’s next, to hear it.  I myself keep saying “if you’re still alive today, you’ve probably made it through the worst.”  But do I really know that?

No, not so much.

I do know this, however.  If one IS alive today; whining about regulations, the market, the government or whatever else, although quite possibly merited, will not help your business.  And there is business to be done out there.  No, not as much.  No, it doesn’t pay as much.  And yes, it takes twice as much work.  But it is out there.

I have some great clients and great friends who are doing an extraordinary job staying alive in a challenging market.  And they’re doing it with flexibility.  Now, this isn’t a call to pretend one can be all things to all people—if you can, great.  But most can’t.  But I’m hearing less and less “that’s the way we’ve always done it” these days.  For a good reason.  Most of those folks have long since gone through bankruptcy, wound down, and found a new profession.

And the forecast for the next 6 months...

And the forecast for the next 6 months...

Survival in a down market is hard work. It’s not fun.  It certainly isn’t for everyone.  It involves things accountants rarely account for:  determination, innovation, creativity.  It involves the ability to listen.  To hear what the customers want and need, and what they soon will need.  It takes one part ESP and one part fortune telling—especially in the mad, mad market of 2010.  Because long after the redundancies have been eliminated, well after the fat has been trimmed, and far after the costs have been cut, there is still no guarantee of new business. 

Kudos to those in the mortgage and settlement services industry who recognize that cutting costs is only one part of staying alive in a spinning market cycle.  It’s the leaders and the visionaries, the ones inspiring new efforts and using their talents to stay afloat who should be commended.  And it’s those willing to change in ways they never thought they might be forced to who will reap the benefits when (not if, but when) the market finally stabilizes.