The layoffs are part of a continued cost-cutting plan that has aligned with a decline in mortgage demand over the past two years. #philadelphia #greaterphiladelphia #workforce #mortgages
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So why do disruptors sometimes seem unconventional? Traditional commission-based Realtors, you may be familiar with what I'm referring to, right? In 1998, the term disruptor wasn't even in common usage, but that's essentially what I was doing. Why did I offer my full-service flat fee service? It was simply to place my mortgage rider sign beneath my realty sign. You see, back then, lenders used phone calls to try to build a referral network of Realtors. Even rookies were inundated with calls from lenders requesting purchase money referrals. On advice from my mentors, I followed suit. Needless to say, after a day of contacting Realtors, I thought there must be a simpler way. That's when I came up with the idea of a flat fee full-service listing concept. I bought a Realty World franchise and it worked, perhaps too well. By 2002, after being featured in Sacramento Magazine's Real Estate section, all I could do was hold on to the tiger's tail. Back then, it seemed like every home seller in the Sacramento region wanted to receive full service and save thousands. So it took 26 years, but now it seems, with assistance from plaintiff's attorneys, we are all more aware of fair commissions. Those accustomed to charging 6% are now shifting towards fairer commissions, which may ultimately displace disruptors. As "the Initial Disruptor," I, for one, say welcome to the mainstream of Realtors. Because in 1998, what I discovered was that families selling their homes deserved equal treatment in terms of a flat commission while still receiving full service. Separately, I understand that it's more convenient for Realtors to obtain the Selling Agent's commission from the seller. However, we really need to advocate for changes to all lenders' guidelines and have the lenders cover the Selling Agent's commission. Remember, guidelines are updated regularly. It's not overly difficult; it simply requires all National Association of Realtors members and their sellers to advocate for change.
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Top-Rated New Hampshire Home Buyer | 450+ Off-Market Deals Closed | Off-Market Sales & Disposition Expert
In my career as a Home Buyer I went through 3 key stages... 𝗦𝘁𝗮𝗴𝗲 𝟭 - 𝗕𝗲𝗴𝗶𝗻𝗻𝗲𝗿 𝗪𝗵𝗼𝗹𝗲𝘀𝗮𝗹𝗲𝗿 From 2017 to 2019, I was just getting used to the ropes. Although I had a background in sales, speaking with distressed sellers was a completely different experience. One that requires a lot of patience and empathy. Through coaching with Tom Krol, I learned how to get a deal under contract and sell to a cash buyer. And I kept repeating the process and slowly but surely started seeing some traction. By the end of my first year, I'd done 10 deals and earned $77k. By the end of my third year, I was able to quit my 9-5 and focus on this full-time. 𝗦𝘁𝗮𝗴𝗲 𝟮 - 𝗔𝗱𝘃𝗮𝗻𝗰𝗲𝗱 𝗪𝗵𝗼𝗹𝗲𝘀𝗮𝗹𝗲𝗿 In early 2019, I learned a hard lesson that made me pivot the business. I realized that I was slowly turning into a "Cash Buyer Employee," relying on a few cash buyers to take my deals. This resulted in my profit decreasing as they started negotiating for lower assignment fees with the leverage they developed. I knew I had to make a change. In early 2019, I transitioned to leveraging the MLS instead of just going to cash buyers. This allowed us to have many eyes on the property, which was a game-changer for us. Shortly after that, in August 2019, I learned about private lending through Chris Noel's training and started implementing that. We did our first flip in 2018, but we did two more in 2019 and really picked up. We hired our first acquisition sales guy, Eddie, in 2019 as well. Going into 2020, we opened up new markets with Western New York, Kansas City, and Las Vegas home buyers. While Kansas City and Las Vegas had mixed success, Western New York went on to have great success. By 2020-2022, we continued to leverage the MLS, added private lending, and expanded our exit strategies to include wholetails, novations, and double closes. These strategies faced virtually no competition. 𝗦𝘁𝗮𝗴𝗲 𝟯 - 𝗢𝗳𝗳-𝗠𝗮𝗿𝗸𝗲𝘁 𝗔𝗰𝗾𝘂𝗶𝘀𝗶𝘁𝗶𝗼𝗻 𝗦𝗽𝗲𝗰𝗶𝗮𝗹𝗶𝘀𝘁 The new business model really exploded our sales, and we kept growing in 2023 and onward. We went from making an average of $10k per deal to $35k per deal, sometimes hitting home runs of $70k, $80k, and $90k profits. We also started building out a team, hiring Acquisition Managers to go out and talk to sellers. We expanded to new markets, bringing on Dan Toback to lead a new division in Florida. Just in 2023 alone, we did 78 deals. And we're just getting started. — Looking to master off-market real estate acquisition? 👉 Join our community of over 1,475 members today: https://lnkd.in/ehV3VeF6 What has been a pivotal moment in your business journey?
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The #1 reason Sales Agents, Mortgage Brokers & Leasing Reps Quit or Fail… and my simple answer to your survival. Besides running out of money, there is a dirty little secret in the real estate business: The fastest way to fail is focusing on “open” or “off market” listings. You would be shocked to learn that of the hundreds of deals I’ve closed on over my 25+ years, maybe 5 or 6 were open or off market listings. If you can’t control your inventory, you can’t control your income. In this video, I explain some ways I differentiate myself to win business that are part of my special report “Deadly Mistakes Business Owner’s Make When it’s Time To Sell.” No Hollywood Style, Stuffed Shirt, flashy B.S. At just $19.95 (and less than breakfast in midtown manhattan), I show you the insider secrets I’ve learned watching NYC’s richest, greediest landlords buy and sell real estate. This simple blueprint has been providing me with a lucrative brokerage career, in up and down markets, for over 25 years …and counting! Watch the video and then Click here to learn about ordering: https://lnkd.in/eAeTR_Ad
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Mortgage Broker Franchise Founder | Mortgage Industry Business Solutions for Real Estate & Mortgage Professionals |Real Estate Investor | Speaker
The mortgage broker channels is adding a new business owner this year, and Mortgage Broker - CoLAB has been given the honor to be part of their journey. What does that mean? Through our franchise, this new biz owner will not have to guess, go through trial & error, or pay for all the things us veterans have had to invest in over the years. Here are just a few things they will experience: Onboarding- weekly 1 on 1’s with a mortgage broker expert until they are approved by their state CPA & RESPA compliant LLC structuring- so they save the maximum on taxes and never have to fix things as opportunities to grow are presented. Compliance documents and checklists in place immediately Setup of their LOS & CRM is done for them by our team, so they immediately have drip campaigns, a pipeline views & metrics. Mortgage Broker Resource Library filled with every policy, procedure, checklist, flyer, presentation & guide you can think of! And I haven’t even talked about the “done for you” Broker Concierge service they can opt into. We pretty much made a loan officer & Realtor “wish list” that we wanted when opening & growing our mortgage brokerage and packaged it up with a bow. If you have ever thought about opening a mortgage brokerage and want to know if it can really become a reality, send me a DM. #mortgagebroker #loanofficer #realestatebroker
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I’ll take 10 mins of undivided attention over an hour of scattered focus any day. You’ll be ahead of the vast majority of your competition through this alone. Interrupt the pattern of “multitasking”. Show up, and be present. And see what you find. - Joe #recruiting #recruiter #consulting #marketing #leadership #mortgage #branchmanager #arroyoandco #convert #converttalent
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"Had a great conversation with DeWayne. We're both on the same page about helping clients and wanting to grow our business. He committed to referring me clients and I scheduled another call to take a deeper dive into ideas we can collaborate on to generate more business together this year." - Mike I. [Alliance Partner Solution] #recruiting #recruiter #consulting #marketing #leadership #mortgage #branchmanager #arroyoandco #convert #converttalent
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National Recruiting Manager at Lower - Christ Follower - Family Man - Volleyball Dad - San Antonio Spurs Fan for Life - 2-Time Pie Eating Contest Winner
Three things to consider if you want to make the most of the next market rally: 1. Remove Limitations - Underwriting Overlays - High Minimum FICO scores - A Lack of Products Having limitations to what you can offer will lead to missed opportunities 2. Speed - Can you get conditional approvals at point of sale? - Do you have Dual AUS functionality to increase PIWs? - How long does it take a customer to complete an application? The faster you're able to operate the more volume you can do. 3. Leadership - Do you have a manager that will hold you accountable to your goals? - Will they prioritize your pipeline? - Will they help you build a team around you? - Will they help you win more relationships and create new opportunities? - Are they accountable to you? The best leaders work for you and love to see you win. If you are lacking in any of these areas, let's have a conversation. It's not a commitment to making a change, but it's a conversation that could open you up to other possibilities that you didn't know existed. #teamloandepot #mortgage #loanofficers
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AvenueSTL.com Just applied for a mortgage? Heads up – there are a few things to avoid to keep your closing smooth: -Don't change bank accounts -Don't apply for new credit or close accounts -Don't make large purchases or transfers -Don't co-sign loans Pro tip: Once you’ve started the process, always check with your loan officer before making any financial moves.
Avenue Real Estate Group | St. Louis Property Management
avenuestl.com
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AvenueSTL.com Thinking of selling but feeling stuck with today’s mortgage rates? Here’s something to consider: your home equity could be the solution. So, how can equity help? Depending on how much you have you could: - Buy your next home in cash. - Make a larger down payment and finance less. If you’re curious about finding out about your equity, let’s connect for a free equity assessment.
Avenue Real Estate Group | St. Louis Property Management
avenuestl.com
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Today an industry journalist asked us to describe the ideal Homelendia Mortgage LLC franchise candidate. We think our answer surprised her. “Our ideal candidate is the top agent, team, or broker that is motivated to achieve more by taking action.” For context, we’ve never met an agent, team, or brokerage owner that didn’t fully appreciate our concept and know the value of owning the mortgage revenue they’ve been referring away. In fact, most have the money to own the franchise. Not everyone has the ability to take action. It is the motivated that get it done. The motivated that fit the culture, and the motivated that bring best practices to the network. Homelendia Mortgage LLC helps motivated real estate professionals achieve more!! Are you motivated yet?
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