Paul McFadden Mortgage Loan Officer Bellevue Washington Home Loans

Good morning! I was just reading Jason Sardi's blog "Price Warfare in a Service Industry" and it made me think about the importance of defining our business.

A little background. I've been in the mortgage business for a little over 3 years now. It's been uphill all the way although it's smoothing out lately. When I started, things were white hot. The office I worked for was full of young people making several thousand dollars a month. Myself, I didn't know what I was doing and had little help as is often the case in the mortgage business.

What I did know how to do was build a business. While most of the other loan officers waited for their phone to ring or worked leads, I spent a lot of time out building relationships and adding to my database. Needless to say, almost all of the loan people I started with are gone from the business. I think it's because they didn't define their business.

What do I mean about the term above? Decide how you want to run your business. For me, that took almost a year. Personally, I decided I was the 1% guy (loan origination fee) and I would explain up front to all my clients how I was paid, etc. Let's face it. What we do is all about trust. In most cases, we're being chosen based on our client's trust.

The other part of the equation in defining your business is deciding how to consistently market yourself. For me, it's a couple emails/month on helpful information, making calls to my database every day, writing thank you notes, meeting for coffee, lunch, etc. with clients, reciprocal partners, and mailing to a targeted group who knows me quarterly. I know it sounds like a lot to do but think about it for a moment. What is our goal? It should be to become known as the mortgage person, realtor of choice.

Again, it's not been a fast climb for me but the future looks bright. Perhaps someone who is a quicker starter would be further along. I'm blessed to work for a fantastic company which I think is paramount. How about you? What's working for you? Have you defined your business lately?

Hi all: I wanted to let you know about a great little Farmer's Market here in Bellevue. It's all organic which suits our region well and there are probably as many as 40 vendors peddling everything from fresh vegetables and fruit to grass fed beef.

A friend of mine helps with the Bellevue Farmer's Market and I was impressed with the new venue. It's located in the parking lot of the old Safeway store right downtown.

One of the great things about the Northwest is access to fresh produce, etc. Of course, we have the world famous Pike Place Market where they toss huge salmon. But we also have other great Farmer's Markets in the cities of Burien, Renton, Kent, Maple Valley and Olympia, for example.

If you haven't visited a Farmer's Market recently, I encourage you to go. They're really fun and you feel like you're not only paronizing the small independent grower but eating right at the same time. Do you have Farmer's Markets where you live? If so, you are a lucky person. Have a great day!

Good afternoon: I wanted to give you a quick snapshot of the Bellevue, WA. area. Today, mortgage interest rates at the Legacy Group were 5.125% ((5.237% APR) for a 30 year fixed mortgage O.A,C. Interestingly enough the 5 year ARM (fixed for 5 years then adjusts) is at 4.5% and alot of my clients are choosing this loan program if they know they probably won't be in their home in another 5 years.

The home loan business at the Legacy Group has been strong this year. I think the cream is definitely rising to the top. I am seeing a definite pick up in activity and am happy for all my realtor friends. Bellevue prices have dropped where first-time homebuyers can now qualify in some cases. And selection is good, expecially above the $500,000 price point.

How about in your market? I'm not sure we ever got hit as hard as some of you. Still, it's a nice change to see activity and motivated buyers and sellers. Thanks for reading! I'll keep you posted if anything changes up here in the beautiful Northwest!

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Hi all: It's another fabulous evening here. Will it ever end?

I was just reading what books our President is taking on his vacation this year. One of the ones he's reading is John Adams by David McCullough. I too am reading this right now and hightly recommend it. What's remarkable is how our first three Presidents were also involved in our independence; Washington, Adams and Jefferson. What an exciting time to live in.

Other books I've enjoyed lately were by Garrison Keillor, Senator Frank Church's son, "Waiting" ( a book about two young boys who were exiled in China during the Mao years), Three Cups of Tea (about building schools in Afghanistan) and a book about the memoirs of a boy soldier in Africa. I have to remind myself to read more industry specific books too so throw in "Never Eat Alone" by Keith Ferrazzi and "Becoming a Person of Influence" by John Maxwell.

What's on your bookshelf? I wouldn't call myself a voracious reader but try and read something everyday. To me, reading is something we should always be doing. You? Have a nice evening!

Hi all: I'm increasingly inspired by people in my network who give and then give some more. It seems like I'm being attracted (and they to me) to people who are major givers.

What about you? I'm curious what you're experiencing. One of the reasons I love my company so much is the team concept where everyone helps. Granted, there are always a few who keep to themselves. But, generally, my company is doing great because it attracts good, giving people.

Tell me your stories. One of my friends started a "Pay it Forward" group locally. Needless to say, it has grown tremendously and it's exciting to watch. The mantra "How can I help you" is alive and well. I'm personally excited about so many many of us wanting to give. Have a great weekend!