Gaining market share in tough times
“It was obviously a very, very challenging at the time,” he said. “However, in hindsight it was the best thing that ever happened to me because it really allowed me to flourish and focus at a time where everybody else was focused on how hard it was. I was just focused on building a business and building a brand and building a network.”
Like his counterparts who went through that period, professionally surviving that era is something of a badge of honor: “What it allowed me to do was establish myself at a very difficult time and build this reputation at a very opportune time,” he said. “A lot of times, the most challenging times are the greatest opportunities and that certainly is what that was for me. It gave me credibility because I stepped up, showed up during a hard time.”
From the detritus of the Great Recession, he was able to capitalize as the mortgage landscape came back to life: “When things got really busy the next couple of years, I had been there and had done a good job and was able to capitalize on a market that was constantly moving.”
Just as his mettle was tested then, today’s difficult market – what with affordability issues, inflation, higher mortgage and interest rates – is challenging the grit of many industry practitioners.
“Even now in 2023, we’re seeing originators getting out of the business, real estate professionals getting out of the business. The ones that show up right now – similar to what happened in 2008 – have a massive opportunity to grab market share and be a leader in the industry. That’s what I’m focused on right now, similar to what I was doing in 2008.”
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