07/13/2010
CRE Firms Push Marketing
Surviving an economic meltdown is one thing. Being top-of-mind to your customers takes a bit more effort.
Though a separate discipline, commercial real estate firms slowly pick up their marketing efforts in order to make the most of the post-recession decision-making going on by their clients, according to the Atlanta Business Chronicle.
While market decisions were much tougher to make during the last year, expert forecasts pick out new opportunities– they’re clearing way toward success and progress. Clients and referral sources are needed in order to capitalize on said opportunities.
Effective marketing is necessary.
However, because of the economic slump, marketing became a secondary, even tertiary communications priority for many CRE firms.
It slowly makes it way back to first place.
As small-balance commercial lenders, we can take a similar cue and begin aggressively vying for the favor of our constituents.
Are you still relevant? Are you top-of-mind when it comes to your customers?
07/08/2010
Fear and Adaptation in the Commercial Mortgage Broker Marketplace
An interview of local broker Marcia Upton (who happens to be a former Fairway America correspondent) reveals small-balance commercial mortgage broker fears that continue to breed as the markets show no movement towards improvement.
Upton has been in the industry for years and knows both the ups and downs of the marketplace.
Her perspective is based on her time in the trenches of the market, with both victories and defeats.
A telling part of the article touches upon broker fears that they are being phased out by newer business practices, where Upton states, “The mortgage banking world doesn’t want to hear it, but mortgage brokers are being phased out.”
While Upton and other small-balance mortgage professionals may have their doubts, they are still working, pounding pavement, and fighting the good fight.
It takes adaptation and patience to weather this storm. Just because things aren’t going exactly as planned does not necessarily mean brokers are on the road to extinction.
It’s time to make a few adjustments and play the game with a strategy to win.
07/06/2010
Loan Demand Remains Weak
According to CNN Money, loan demand continues to show no signs of improvement.
Banks continue to perform conservatively due to the upcoming possibilities of increased federal regulation.
An implementation of a consumer protection agency could limit mortgage and credit card activity.
Businesses continue to hoard their money as a means to ride out the recession, however long its wake may be.
With this behavior going into the third quarter of 2010, how can more nimble, independent financial firms approach the market?
Or, are we stymied similarly as more conventional financial institutions reportedly are?
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