The recent half-point increase in conventional refinancing rates has rattled the cage of any LO who put all their focus on that market. Building your business on the ground of the refi market leaves you in a precarious and possibly desperate situation.
You could literally lose your income in a matter of days and find yourself struggling. If refis are quicksand, there’s only one worthy alternative, purchase deals.
Refis on their best and most lucrative day have nothing on the purchase market for a multitude of reasons.
Doubling down on the purchase market isn’t an optional luxury. It should be a mission critical must and a front burner priority in our businesses, especially when everyone else is going all in on refis.
What makes the purchase market better than the refi one? How do purchase deals allow us to strategically uptick our average commission? Why is a day’s work in the purchase market so much more fulfilling? In this episode, I talk about the unlimited opportunity in the purchase market.
It pays in spades to be more deliberate, intelligent, and strategic about attracting purchase business. -Doren Aldana
- How the purchase market creates a chain of awesome
Purchase deals usually aren’t one-and-done transactions. They create reputation and relationships, and drive referrals and reviews. That one deal can be the foundation to a lifetime of business.
- Why purchase deals stand on solid ground
Refi clients are price conscious and more focused on getting the lowest rates. Purchase clients are motivated by something entirely different, something more powerful. What makes them so special?
- The fulfillment we get from purchase deals that we don’t get from refis
The purchase market gives us the opportunity to be a conduit of contribution and a catalyst to a life-altering milestone. With refis, we’re nothing more than a commodity.