Heejin is aggressively exploring JVM’s expansion into the Texas market, and amazingly it only took her about three hours to find high-end, class A office space like we need to attract talent. She used websites like WeWork and Truss to map out everything – commutes, demographics, leasing costs, layouts, furniture design, etc.
In contrast, when we moved to class A space in 2010, it took us six months of searching and planning with our commercial leasing agent. Our commercial leasing agent is an awesome guy, but his “cheese” has definitely moved.
In the famous parable “Who Moved My Cheese,” two people get fat, cocky and happy when they find an endless supply of cheese, never thinking about what to do if the cheese runs out.
In 2008, our endless supply of “cheese” was obliterated in both the mortgage and real estate industries, and 90% of the loan officers did not survive. Many Realtors survived by finding new “cheese” in the REO and short sale realms. JVM survived by eliminating loan officers and building our team-model.
In any case, Heejin’s Texas exploration is a stark reminder that everyone’s “cheese” will definitely move again. In the mortgage world, sooner or later: (1) Rates will go up; (2) Volume will plummet; and (3) Software and algorithms will completely change our industry.
Real estate will experience similar transformations.
Everyone’s “cheese” will move. This is a lesson not just for business owners, but also for team members.
At JVM, we have team members who are great at their jobs and who love stability and mastery b/c of their nature. But, they too will have to be ready to re-train and take on new duties at the drop of a hat.
We are preparing now for the changes with a revamped model, a new pricing strategy and an expansion. We hope our referral partners are too :).
Founder/Broker | JVM Lending
(855) 855-4491 | DRE# 01524255, NMLS# 310167