How Milestones Helps Mortgage Providers In Non – Transactional Times
There’s little doubt that real estate transactions are going to see a slowdown in 2023, with some estimates predicting as much as a 30-40% drop year over year. This is going to be especially difficult for anyone in the real estate and mortgage space. What are these folks to do??
Milestones CEO, Dustin Gray, and CRO, Ashley Terrell, recently joined the legendary mortgage industry veteran David Lykken on his weekly podcast Lykken On Lending to discuss how Milestones helps mortgage providers in non-transactional times.
The discussion takes a deep dive into the value of relationship building, especially in light of the predicted 2023 slowdown, with Dustin saying:
Real estate and mortgage are still relationship heavy industries built on trust in spite of all the things that have advanced with technology over the last couple of decades. It’s still the large st asset class, it’s very much in its infancy… And the conclusion that I came to was trying to disrupt this industry, which is what a lot of technologists use, is a bad business model. Almost e verybody who has tried to disrupt real estate or disrupt mortgage has failed. Instead, I look at our role as empowering an indust ry to do more, but not trying to fundamentally change the actors itself.
And Ashley says further:
I always say that real estate in general is probably the most relationship based industry out there because it’s such an emotional transaction for the homeowner. So this is something very intimate that the loan officer in partnershi p with their realtor or independently without a realtor can give back to the homeowner to keep that homeowner engaged…but give them something that’s intimate and of value and holistic and comprehensive to the overall journey of home ownership.
Be sure to take a listen to the podcast here!!