Have you ever considered what would have happened if you had the foresight to purchase the domains that sell for tens or hundreds of thousands of dollars in the early days of the internet? If you had bought Apple or Facebook stocks during their Initial Public Offering?
Opportunity: In today’s HECM marketplace a mindset that seeks opportunity is crucial…
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Editor in Chief: HECMWorld.com
As a prominent commentator and Editor in Chief at HECMWorld.com, Shannon Hicks has played a pivotal role in reshaping the conversation around reverse mortgages. His unique perspectives and deep understanding of the industry have not only educated countless readers but has also contributed to introducing practical strategies utilizing housing wealth with a reverse mortgage.
Shannon’s journey into the world of reverse mortgages began in 2002 as an originator and his prior work in the financial services industry. Shannon has been covering reverse mortgage news stories since 2008 when he launched the podcast HECMWorld Weekly. Later, in 2010 he began producing the weekly video series The Industry Leader Update and Friday’s Food for Thought.
Readers wishing to submit stories or interview requests can reach our team at: info@hecmworld.com.
1 Comment
Early this morning I read the summary of the article just written by Barry Sacks and was astonished by the difference that the 10/2/2017 changes had on its conclusion about a newly invented rule the article names as the rule of 30. The problem is it was written with the now obsolete pre-10/2/2017 HECM structure in mind.
Until we work with the new rules for a while, we will be fumbling and stumbling. It should not be long before we are on our feet again but between now and then much of the illustrations, articles, scripts, and other marketing literature we have freely used in the last three years is now out of date. It is important that in meeting on a business to business basis and expecting referrals in the process, you provide the latest and most accurate information based on the 10/2/2017 changes.
Nothing ticks me off as an adviser than to have a vendor pursue me with literature that the vendor or salesperson does not know is out of date, especially when the salesperson is coming to me to get me to move to his product. The times I have and found out that the sale was driven by inaccurate information, (unless that person represented the only company offering that product or the product was being offered at an incomparably low price), I never dealt with person again.
I hate relying on sales people anyway. Then to find out that they or their marketing materials are out of date, drives me straight up the wall.
Learn to do your homework now while the issues are fresh. Get your employer to update its marketing materials. Be current and make sure that what you are giving out as good information does not eventually make you the bad sales person.
This is a great time to also be looking over your marketing and sales strategy. How can it freshened and spruced up? Where is it lacking and how can that lack be corrected at the least time invested and cost incurred?
It is also time to look at how the new product will turn your business around. Look for new sources of demand and explore them. Shannon covered much of that in his very good presentation.