Resilience to Results with Vision-Driven Leadership

If you're in the mortgage business and have been for at least the past three to five years, you're a working, practical definition of resilience. It's no surprise to anyone that the market fluctuates with respect to real estate in general, and the mortgage business in particular. We've all become accustomed to those fluctuations. However, the severity of those fluctuations, in recent years, has redefined market volatility.

From Feast to Famine: Facing Today’s Mortgage Reality 

We went from the feast of 2021 and 2022 to the famine of 2023 and beyond. The combination of interest rates that are no longer artificially manipulated, limited inventory availability, and inflation that is only now starting to get under control has led to sustained high rates and far more pent-up demand than the current housing supply can accommodate.

You could make a lot of reasonable arguments about how fed policy could facilitate a return to what we would all consider a more "normal market." I think all of us, either in the mortgage business or in businesses directly connected to the mortgage business, would welcome such a return. Not the insanity of that previous super-heated market, just a market with reasonable interest rates, reasonable days on the market, reasonable inventory levels, and more predictable outcomes.

It's my assertion, based on conversations and information from people I consider much more highly informed than I, that some form of interest rate recovery is on the horizon. I had lunch recently with a gentleman I consider a mentor and a knowledgeable industry leader who, as one of his primary strengths, is a great student of the economy. His assertion is that as soon as labor data gets in line, we will see a series of four to six reductions over the next 12 to 18 months. This could be just what the doctor ordered with respect to overall market influences that affect mortgage interest rates. I think we would already be there based on inflation data if the labor market were more cooperative.

Lead with Resilience—In Business and Life

So, if all that prognosticating is true, what should anyone whose profession aligns them closely with the real estate market be doing? As I said at the beginning of this piece, if you're still in this business, you are the definition of resilience. My simple answer to what we should do next is to continue being resilient.

If you are leading, lead with resilience. If you are originating, execute with resilience. Stay true to your marketing plan, even in a modified budget. Stay true to your work ethic. Stay committed to your pursuit of mastery in this profession and be a lifelong learner. Build cohorts of other mortgage professionals who are continuing to execute even in the midst of adversity. I have found many in this industry who execute at a high level, more than willing to share the things that have worked for them, over the things that have not. Be willing to be reciprocal.

The Power of Personal Discipline

And if I may, delving outside the specific duties and responsibilities of any mortgage professional, be resilient in managing your personal life. Be resilient in your commitment to fiscal responsibility as an individual. This market has not yet turned. We are still in uncertain waters. Save. Save more than you have in the past. Spend less. Store up liquidity in case this market has more legs than we hope.

Be resilient in taking care of your physical body. Stay committed to your nutritional plan, your exercise plan. If you have maintained your resilience in this industry without a nutritional plan or an exercise plan to address your overall fitness, create one today and then be relentless, resilient, and stick to it.

The next one is trickier. We are not all alike in how we approach spiritual matters. But having an anchor outside of yourself, however you define that, is another key area of resilience. Stay connected to your source. Maintain your spiritual disciplines so that you can maintain your spiritual focus. They are not just your anchor; they are your compass.

I don't know who coined the phrase, but I have always loved the quote, "discipline begets discipline." If you are struggling with resilience. Start small. Simply do the next thing. But do it with intention. Do it according to a purpose that you have predefined. And do it consistently. Leading with resilience must begin with ourselves. Before we can lead our direct reports or clients effectively, we must first lead ourselves and develop resilience.

Step into Vision-Driven Leadership

If this message resonates with you, it's because I'm not just writing about these principles, I've lived them and teach them. Knowledge Coop partnered with Building Champions to co-create How to Become a Vision-Driven Leader, a course built specifically for mortgage professionals who want to lead with clarity, consistency, and long-term impact. This is your opportunity to get ahead of the next market shift, not just survive it, but lead through it with a clear vision, a focused team, and a resilient business. Don't wait for the recovery to arrive. Start building now, so when the market turns, you're ready to rise. To your success!