Mortgage president reveals how originators can adapt to these shifts
MPA Housing Industry Icon Chad Jampedro has witnessed several industry shifts during his 17 years in the mortgage business. He has successfully navigated turbulent times and thrived during transitions. The GO Mortgage president has also never allowed that ‘been-there-done-that mindset’ to lock him into one way of thinking or doing things.
One of those significant shifts he has seen surrounds how mortgage professionals approach and create meaningful conversations with new clients, Jampedro said.
“Starting out in the industry, [there are] lots of phone calls. You’re burning up the phone, you’re making phone calls, trying to make a connection, and finding a way to develop business,” he said in a recent interview with MPA. “And what’s changed significantly over the years is what I call the ‘suit.’ It’s that pre-meeting effort that you put in, and it’s changed significantly from just dialing the telephone. Maybe at the start it was mailing out postcards – that was something that was big early on in my career.
“Now it’s shifted into really a combination of, education, building rapport, and a lot of it is done via text messaging. That’s the big communication platform that has the most response rate. There seems to be still a good fit for it early in the process with clients who want to get information but don’t want to have that phone conversation just yet. It feels like it has to go a little bit further. Mastering that now is a big deal.”
Jampedro added that getting on the phone with a client is more difficult than ever. He said: “Mastering that suits those beginning stages… building that relationship or that first verbal contact or first meeting is much more complicated than it’s been in the past.”
Jampedro told MPA that he used to write personal notes to all his clients on a week over week basis – a habit he picked up from one of his mentors. Jampedro said that it enabled him to deepen connections with his customers and referral partners.
“I had to plant all of those seeds, make those connections and then nourish them over time for them to really develop. There will be systems out there and lots of different things that seem like it’s a shortcut, but it’s really not. It’s starting really at that fundamental level of ‘how am I creating conversations and how many am I having on a day to day basis’,” Jampedro said.
You can learn more about Jampedro’s story by watching the full interview here: What’s the best advice for a young mortgage professional?
