In a compilation offering perspectives on critical skills for working in the real estate industry, a reverse mortgage professional is one of the experts cited in the full panel of professionals offering their ideas in a piece at Forbes.
Michael Branson, CEO of All Reverse Mortgage in Orange, Calif., is the first of five real estate experts cited to offer perspective on the most necessary skills it takes to be successful in the real estate business. Branson’s contribution is centered on a skill that many in the reverse mortgage space should know all too well: the skill of knowing your target market and the necessity for providing accurate product education in a complex financial sector.
“Real estate professionals should know their target market,” Branson says. “As a provider of reverse mortgages, we feel that it is not our job to sell the program to senior borrowers but to educate them on the options and the program parameters—good and bad—so that they can make informed decisions.”
While Branson is the only reverse mortgage industry member offering perspective on this particular panel, the other skills deemed necessary by Branson’s fellow panelists can likely be seen as skills that those in the reverse mortgage business find value in.
Among the other cited skills are listening effectively; maintaining an understanding of the development cycle; having a knowledge of developing technological trends; and keeping a thorough understanding of where your local market is heading.
The skill of effective listening likely has a high degree of relevance to others in the reverse mortgage space, especially when it comes to emphasizing the value that can come from the input of people dedicated to a highly specific and detail-oriented field.
“I think investors and developers should have very different skills, but a common skill would be the ability to listen effectively, as real estate is such a multifaceted and interdisciplinary field with experts in every aspect of it,” says Arthur Greenberg, vice president at real estate digital marketing firm Knightsbridge Park in New York, N.Y. “Those who disregard the input of subject-matter experts are at a higher risk of making poor decisions than those who listen thoughtfully and critically.”
The Forbes Real Estate Council is described by the outlet as, “an invitation-only community for executives in the real estate industry.” Members can only qualify if they meet a series of specific criteria, including being an executive at a company which generates at least $1 million in revenue, or have a minimum of $1 million in financing. Senior-level agents must have a minimum of $10 million in personal annual sales they have direct responsibility for.
Read the provided perspectives at Forbes.