A lot has changed in 50 years.
In 1969 a gallon of gas cost $0.32. The average price of a new home was $40,000. And Bruce Coffman with America’s Mortgage Resource was just starting his career in the mortgage business!
Since then he’s closed 9,000+ loans worth more than $1 billion in volume. He’s closed loans for 3 generations of family members.
Don’t dismiss him. Bruce isn’t just another grinder in the mortgage business.
He’s made a small fortune in commissions, and you’d give your left arm to have his referral database.
So what’s his secret? What worked and what didn’t? What’s his best advice?
Let’s find out…
50 Years Worth of Advice
He’s got some advice everyone in the mortgage business can take to heart:
The mortgage business is relationship oriented
Stop looking for shortcuts and hacks. Instead, focus on paying attention to detail from both your customers and referral sources.
That means staying in touch even when you don’t need anything from them.
A successful real estate business is not developed overnight
The key is developing lots of relationships and contacts. The business will eventually come.
Don’t get frustrated when your first efforts don’t bear fruit. It’s a long term process that requires a ton of follow up.
You have to ask for the business
I’ve watched people spend hours in real estate offices talking to people and not get a loan.
Many people know how to network and talk to people, but few actually ask for business. The ones who ask are the ones who get it.
The “F” word is not an option
If you know Bruce, he’s talking about the bad kind of “f” word (failure). Throughout the years there have been so many challenges that could have been taken as setbacks or roadblocks.
Instead, Bruce chooses to take them as learning opportunities and refuses to give up.
What’s the Future Hold for You?
Most people get into the mortgage business hoping to one day build a big base of clients and referral sending you a steady stream of warm leads.
Bruce has lived that dream.
Follow his advice of being patient, paying attention to detail, developing relationships and following up even when you don’t need anything and you’ll get there too!
