Step 3

Diligence drives success and requires daily effort. High-achieving brokers realize this. They also know they must balance success now and success later. In other words, it's not enough to close loans. You also must develop tomorrow's revenue stream.

Advertising can be expensive and might not fit in your budget. If that's the case, focus instead on allocating a percentage of each day to making new contacts. Identify client and partner prospects and place no fewer than five new calls every day. Once you're in a groove, send five new e-mails each day, too. The cumulative effect of these efforts can be huge.

Some groups to target include:

• Active local real estate brokers and agents;
• General contractors; and
• Planning directors at city or county offices.

Step 4

Rather than waste time on transactions unlikely to receive funding, follow your lenders' rush to quality and performance. The lenders that remain in business survived the recent downturn because they had good management and sensible lending policies.

Each lender has developed lending models and programs in its own way. Take time to understand the way your lenders think and underwrite. After you comprehend their programs, work to develop a transaction flow that appeals to their lending models. The better the fit between you and your lenders, the more likely you'll develop sustainable income streams.

There is no substitute for focus and hard work. Design your niche, grow your transaction flow and increase your earnings by working with a lender that allows you to take full advantage of the programs it has to offer.

A good game plan and great execution can see you through the rest of this downturn and prepare you for the market's inevitable rebound.

Charles Salas is a senior underwriter at Seattle Funding Group of California. Seattle Funding Group is a direct portfolio private-money lender that has become a respected industry leader during its 20-plus-year history. The company focuses on working closely with the brokerage community to service clients professionally and responsively. Seattle Funding Group would like to assist you and your clients through these turbulent times. Contact Salas at Chuck@SFGFunds.com or (858) 751-0556, or visit SFG at www.sfgfunds.com.

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