Winning Business With Ron Vaimberg
By KIMBERLEY HAAS
As mortgage rates continue to stabilize, loan originators hoping for a successful year can benefit from the power of networking.
According to the Mortgage Bankers Association’s finance forecast for February, interest rates for a 30-year fixed mortgage will remain at an average of 6.9% until the middle of 2025. They could drop to 6.7% in the third quarter and end the year at 6.5%.
For loan originators who have been battling objections about mortgage rates, this could be interpreted as welcome news, according to Ron Vaimberg. He is a trainer and coach who specializes in rapid and long-term origination growth.
Vaimberg told The Mortgage Note that when rates are stable – even if they are higher than in years past – people begin to accept them and work it into their budgets.
“That’s when people from a psychological standpoint say, ‘You know what, okay. It’s not the rollercoaster. I’ve got to move on with my life now,’” Vaimberg said.
Once homebuyers make that switch, they begin to reach out to real estate professionals. So now is a good time for loan originators to make sure they are top of mind when realtors are asked about financing.
Standing out from the crowd can be difficult, so if a loan originator lands a meeting with a realtor, they need to know how to make the most of it.
Vaimberg said one of the biggest mistakes loan originators make is that they don’t define what the next steps will be during the meeting and then they don’t have a good plan for following up with the realtor.
This can lead to a cycle of calls that go unreturned. That’s wasted time.
Vaimberg said that instead of thinking, “How do I get business?” originators should approach networking with the question, “What can I give them to create value that they would appreciate?”
He said they can create value by offering to be an expert in something specific such as down payment assistance. Or they can use their social media network to bring more exposure to open houses.
“There are so many simple things that originators can do and they don’t do them,” Vaimberg said.
Vaimberg said that right now industry professionals who are building in-person relationships with the people around them are finding the most success.
“They’re just building their network bigger and bigger and bigger. Those are the ones that really have seen a significant uptick. I hate to sound old school, but I don’t believe that’s going away anytime soon,” he said.
That doesn’t mean there isn’t room for the latest technology.
Vaimberg has written “The Purchase Shift: Winning Agent Relationships with Authentic Connection and AI” which has an estimated pre-order launch date of March 20.
The book focuses on high-level strategies for maximizing reach, saving time, and increasing effectiveness. By blending artificial intelligence with the power of human connection, originators of all levels can develop their network of real estate agents in record time, according to Vaimberg’s team.
According to his website, Vaimberg has played a role in transforming the careers of over 200,000 originators throughout the United States, Canada, and Australia with his in-person and virtual success programs Purchase Mastery, Elite Originator, and the enhanced LOMastery.com platform.