Here's an image from a recent speech I gave in FL. The image came from the Mortgage Bankers Association 2010 actual closed loan volume, and the 2011 and 2012 projected volume.
You'll notice that the total volume (the blue bars) is going down.
That said, the number of remaining loan officers has so dramatically decreased that the overall relative volume is not going to feel that much different. If business drops by 35%, but there are 35% fewer professionals competing for that same business you won't feel a 35% drop in income.
Key Question: How do you increase your income on a relative basis?
If you look at the columns, the only rows that are rising (the red bars) are Purchase related volume. If you want to see a positive lift in your standard of living, you must transition to purchase business NOW! If you do that, and others do not, then you will reap a higher percentage of a growing business channel and see a real relative personal increase in your income in 2011 and 2012 specifically.
If I were full time originating now, I'd be doing weekly educational presentations inside Realtor offices, one per week should do it.
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