Reason #1 – Wal-Mart
Reason #2 – Costco
Reason #3 – Amazon
There was a time when you had to go to one store for groceries, one for patio furniture and another for computers and TVs. Years ago, Wal-Mart and Costco solved that problem; today Amazon is solving it – on your phone and through the mail. Things are changing and companies like Amazon are successful because they help people save time and maximize efficiency. Time has become the universal currency.
The hard money industry was, not too long ago, considered to be run like the “wild-wild-west”. Things were disorganized, dominated by a few players and not something you talked about at your kid’s ballgame. Things have really changed. Now, people are proud to be in the industry, there are educational webinars and conventions. The number of people involved in Trust Deed investing is at an all-time high…it’s main stream. It’s naïve, and dangerous, to think that our industry won’t feel the impact that thriving businesses felt when Costco and Wal-Mart opened their doors next door to them. Since most business is done over the phone and online, competitors are right next door to your business wherever they are in the world.
Besides buying more advertising, working harder and longer, what else can you do to compete with all the people entering our space? Simple – don’t go to thre++e stores for what you can get at one. I say, if Costco has all the items and brands you want and love and the price is reasonable, just go there. It’s 66% fewer stop lights, jammed parking lots, and door dings. Better yet, go to Amazon, spend a few minutes and things magically appear tomorrow. An extra hour here and there adds up to make a significant difference in your success. Do the math with me, saving an hour a day adds 365 hours to your year. That’s an extra 9 weeks to spend outsmarting your competition and enjoying what you work hard for. Take some of the time you save and go make more relationships that feed your business or personal interests and watch how your happiness and business grow.
All of this, of course, is predicated on finding an awesome fit for your needs. Good news, it’s not like it was 10 years ago, a separate provider for each service. There are good quality companies with awesome references that can help – just do your due diligence. Check their references, visit the company, explore their values and ensure there is alignment in your vision and expectations.
I know what some people will say: “I like doing ____ because I have control” or “I like making the extra money preparing loan docs”. Here comes the cliché response you expect, and deserve, SHOULD YOU be doing it? Are you the right person and is it the best use of your time? How many sets of docs do you need to generate to make what you make on one deal? What about the time needed to keep up with changing regs and forms? Better yet, keeping up with best practices that can avoid errors, complaints, and even fraud? Even doc software like Doc Magic, could benefit from a few addendums, like we produce out of seeing first-hand, the experiences of thousands of clients and more than 10,000 loans.
Much like the representative at Nordstrom helps you select the right suit, shirt, tie combo or perfectly matches the shoes to the purse to rock your special event, a qualified Loan Management provider will coordinate your Processing, Docs, Serving and Loss Mit to enhance your image and your bottom line. Our website www.DelToroLoanServicing.com and YouTube channel feature detailed articles and videos on how our Loan Management services greatly reduce risk of errors and fraud, how we can increase your return and avoid costly borrower complaints and law suits. If you have questions or would like more information to help you uncover if we would be a good fit, call us at 877-335-8676.