“Our business model has always been relationship-driven,” he said. “When you’re running a relationship-driven business – whether it be with your clients, borrowers, business partners or realtors – it’s not transaction-driven, it’s not market-driven. It’s relationship driven. People will come to you when they have a need. You’re not chasing new clients all the time but servicing referrals.”
The business model helps insulate the company from the most corrosive effects of market downturns, he suggested: “I look at it as recession-proofing your business. “We offer good customer service, provide a good client experience and offer the lowest rates and fees in the country, So long as you deliver on those, you’re going to stay busy despite the changes in the market.”
Relative newcomers to the field are, by and large, ill-equipped to roll with the current punches, he suggested. “A lot of people entered the marketplace with rates dropping to historic lows and never experienced what it takes to grind and to work hard and actually prospect and run a business. For lack of a better word, a lot of loan officers became order takers. Some folks that had relationships stopped servicing them because they were chasing refinances.”
Strandson somehow finds time to participate in various trade groups, including AIME from which he derives many benefits, he said. “The collaboration with the broker owners and members of our community has been a huge asset. They have ‘brokers are better’ and online chat areas where you can go in and get tips and recommendations.”
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