The marketing campaign and advertising blitz to complement that change and bring industry partners on board was an extensive one.
“We came up with a lot of strategies to help realtors,” Medve said. “We brought in tons and tons of realtors into the office and trained them. We did a lot of marketing on forums and different magazine and TV commercials. When everybody else was going one direction, we were going the other.”
Buyers gravitated towards those lower rates on offer – and the company’s solution to the down market proved a fruitful one, helping it turn a profit in January and remain highly competitive throughout the typically subdued winter period.
Retaining staff, Medve said, was also a core consideration. “I basically had the strategy of saying, ‘Well, my staff is going to be dormant, my loan officers are going to go and they’re not going to other jobs because there’s no loan volume.’ I couldn’t do that. I had to protect the company, the salaries,” he said.
“So I went after loans, and I created programs and marketed and projected through my buyers what we offered – and we were highly successful in doing so… It teaches you to be aggressive as opposed to being timid in the down market. We’re doing really well.”
Source: mpamag.com