More production with one-third the calls? Is that even possible? “Only when you have technology set in place,” Miri said. “Normally, you would think you have to hit the phones, you have to have more dials – a numbers game. But that’s how good our technology is. I had to check the numbers – I did a triple take – because I couldn’t believe we had more production, but six figures less in dials out. So that showed us our technology was always moving in the right direction.”
The numbers speak for themselves
The proof, as they say, is in the pudding. In 2023, the company closed on 550 loans for volume of $155 million. And with this year shaping up to yield a better market, the company is poised to expand that volume exponentially, he suggested.
“From the projections and what the Federal Reserve is saying, come summertime, maybe fall, there should be movement,” he said. “It will favor those looking into home financing for sure. I think 2024 is definitely going to be a bigger year. I would say we’re probably going to double our production.”
Yet for all the technological wizardry at his disposal, Miri longs to return to old-school ways this year with plans to wear out the shoe leather. “I do plan on hitting more pavement locally,” he said. “There’s a big real estate office next door, and we’ve never even really talked to them. It’s nice to not have to rely on organic business, but it’s something we should always strive for. So, we’re looking to grow a little more organically and definitely still reinvest everything into tech.”
In with the new, indeed. But at Rapid Home Loans, it’s also in with the old-school ways.
Source: mpamag.com