Ask The Expert: I'm Tired of Getting Beat on Rate. What Can I Do?

    In my past column, I answered a question I have been getting from many loan officers regarding losing business based on rates. I have more thoughts on the subject. But first, as a reminder, here's the question: "I am so tired of getting beat out on rate. I have been in the business for 20 years and it seems either I have lost my touch, or has the world gone mad? Either way, it is totally demotivating."

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The Smartest Move Lenders Can Make in 2023

A salesforce that fails to tap into a more multicultural market is leaving millions in potentially new business on the table.

Pat SherlockWhy it matters:

  • The buying power of African American, Asian American and Native American consumers, has increased exponentially to $3 trillion in 2020. That's according to the University of Georgia’s Selig Center for Economic Growth.
  • Minority consumers currently have lower homeownership rates than their white counterparts. Whites are at 71%, followed by Asian Americans at 59%, Hispanics at 51% and Blacks at 44%. That's according to Freddie Mac.
  • Minority groups represent a large market opportunity with 41 million mortgage-ready potential diverse customers. That's also according to Freddie Mac.

For more insights on this important topic, take a look at NAR’s recent report, A Snapshot of Race and Homebuying in America.

Pat Sherlock is the founder of QFS Sales Solutions, an organization that helps organizations improve their sales talent management and performance. For more information, visit

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