{"id":1236,"date":"2007-03-29T22:02:37","date_gmt":"2007-03-30T05:02:37","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=1236"},"modified":"2007-03-29T22:06:01","modified_gmt":"2007-03-30T05:06:01","slug":"predatory-coaching-for-realtors-and-loan-originators","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1236\/predatory-coaching-for-realtors-and-loan-originators\/","title":{"rendered":"Predatory Coaching For Realtors and Loan Originators"},"content":{"rendered":"

Are you a victim of predatory coaching?
\nThere are many advice gurus available to Realtors and loan originators. I watch our industry grow and am amazed at the cottage industries that have hatched from that growth. It reminds me that the only people really making money in multi-level marketing sell the books and tapes on how to succeed in MLM. I can think of three or four gurus who offer real content and provide “how-to-do-the-business” knowledge that comes from personal experience…<\/p>\n

…but…….THERE ARE PREDATORY COACHES
\n<\/strong>
\nThere is a vacuum in the real estate and mortgage brokerage industry when it comes to training. A new licensee signs up with a brokerage and the broker says “Get to work!<\/em>” Many have figured out how to make an above-average income doing just that. Hustlers love vacuums, though<\/strong>. They “prey” upon the weak and their booty is an annuity of fees extracted from an unsuspecting and well-meaning Realtor or originator.<\/p>\n

Let me give you a real life example. In 1999, a good friend of mine opted for a career in real estate brokerage over her corporate recruiting career. She approached me to secure a line of credit for her so she would have ample reserves to meet expenses in an irregular income environment. The predators started circling like hungry buzzards on a hot desert day<\/strong>.<\/p>\n

1-She was encouraged by her broker to “invest” in training. (What the hell does the broker do<\/em>?).<\/p>\n

2-She was encouraged to take out full-color ads borrowing other people’s listings. (Good for the brokerage; free advertising<\/em>.)<\/p>\n

3-She enrolled in coaching programs at $500\/month.<\/p>\n

The best marketing advice she received was from SCORE (Service Corps of Retired Executives)<\/a>. The cost was $79.00 for the six-week consultation.<\/p>\n

We have a new vacuum and that vacuum is in marketing. Realtors and loan originators are having increasing difficulty learning how to market themselves. The new buzzards are circling. They come disguised as “online marketing experts”<\/strong>. They sell and resell “online leads” to us. They hold seminars and follow-up with pushy sales people who try to make Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Are you a victim of predatory coaching? There are many advice gurus available to Realtors and loan originators. I watch our industry grow and am amazed at the cottage industries that have hatched from that growth. It reminds me that the only people really making money in multi-level marketing sell the books and tapes on […]<\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-1236","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-real-estate","8":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":1243,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1243\/my-short-list-of-real-estate-carnival-candidates\/","url_meta":{"origin":1236,"position":0},"title":"My short list of real estate carnival candidates","author":"Greg Swann","date":"March 31, 2007","format":false,"excerpt":"I am continually amazed at the people who write for BloodhoundBlog. Day after day they knock me out, but it's always late Saturday or early Sunday when I am most impressed. Why? That's when I have to make my short-list of candidate posts for the week's real estate carnivals. Cathleen\u2026","rel":"","context":"In "Blogging"","block_context":{"text":"Blogging","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blogging\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":7867,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/7867\/california-proposes-to-regulate-realtors-alongside-pawn-shops-and-lenders-and-banksoh-my\/","url_meta":{"origin":1236,"position":1},"title":"California Proposes to Regulate REALTORS Alongside Pawn Shops, and Lenders, and Banks…Oh MY!","author":"Brian Brady","date":"April 14, 2009","format":false,"excerpt":"Assemblyman Pedro Nava sponsored a bill (CA-AB33) to reorganize our state's financial services' regulators to be under one umbrella, the newly created Department of Financial Services.\u00a0 The idea is to save a bunch of money for the State. Of course, CAR is going nuts.\u00a0 Amy Steele reports via ActiveRain.com: AB\u2026","rel":"","context":"In "Big Mother"","block_context":{"text":"Big Mother","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/big-mother\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2103,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2103\/hr-3915-mortgage-reform-and-anti-predatory-lending-act-of-2007\/","url_meta":{"origin":1236,"position":2},"title":"HR 3915: Mortgage Reform and Anti-Predatory Lending Act of 2007","author":"Brian Brady","date":"October 25, 2007","format":false,"excerpt":"Congressman Banker...err...Barney Frank co-authored legislation to \"reform\" the mortgage business on Monday.\u00a0 You can view the 66-page text here. Bullet Points of the bill include: 1- Prohibition of \"yield spread premium\" as compensation to originators. 2- Mandatory licensing of mortgage originators by a Federal registry or state regulator.\u00a0 This Bill\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1327,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1327\/when-banks-are-permitted-to-competethe-consumer-might-just-win\/","url_meta":{"origin":1236,"position":3},"title":"When Banks Are Permitted to Compete…The Consumer Might Just Win","author":"Brian Brady","date":"April 21, 2007","format":false,"excerpt":"In Southern California, many loan originators are licensed by the Department of Real Estate. Such licensing is unique to California. California was one of the first states to require licensing of loan originators and chose to require that they have a real estate salesperson's license. Some bright Realtors realized that\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3015,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3015\/realtors-are-important-to-an-originators-successsort-of\/","url_meta":{"origin":1236,"position":4},"title":"REALTORS are Important To An Originator’s Success…Sort Of.","author":"Brian Brady","date":"April 25, 2008","format":false,"excerpt":"Loan originators are taught to develop REALTOR relationships. While development of those referral relationships is important, I've seen originators waste time and money on unprofitable \"partnerships\". This initial article, in my new series about REALTOR marketing, will explore how to quantify the referral relationship to more efficiently understand how to\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1964,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1964\/can-the-nar-improve-a-buyers-financing-experience\/","url_meta":{"origin":1236,"position":5},"title":"Can the NAR Improve a Buyer’s Financing Experience?","author":"Brian Brady","date":"September 23, 2007","format":false,"excerpt":"Realtors have to stop complaining about the sorry status of the lending industry. Why? They have the power to make a difference but refuse to take action. 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