“Why is Volume Dropping for the Big Box Banks?”

Their volume isn’t dropping just a little, but it could have dropped as much as 50% from everything I keep reading and the reason many are now out of work. The phone doesn’t just ring as much anymore and if you are waiting for the phone to ring, you are in deep trouble.

Most banks don’t have a culture of going after the business, the culture is one of advertising to make the phone ring. Guess what, it doesn’t work so well anymore.

If you are in the mortgage business and have not built a referral based business, 2013 and beyond will be a real challenge. I do not wait for the phone to ring, I do everything humanly possible to go after new business, but never lose sight of continuing to stay in contact with my past clients and referral partners.

Nearly three years ago, I began my blogging efforts. I wish I had started much earlier, but as they say better late than never. These efforts are paying huge dividends. I am curious, how many big box bankers and loan officers are blogging and putting a lot of energy into social media to bring new business into their doors?