How to Prepare Your Business for 2023

Ken Perry joins Geoff to discuss what mortgage professionals should do to prepare for 2023, drawing on observations from the MBA Annual Conference. They cover market conditions, mindset shifts, the danger of standing still, and the value of community and continuing education. Best for LOs feeling stuck or reactive in a down market.

Takeaways you can run this week

• Stop comparing 2023 production to 2021 — that was an anomaly. Pull Mike DelPrete's LinkedIn data showing markets are only ~3% below historical averages (not 13%) and use that slide in your next agent or buyer conversation to reframe the market narrative.
• Identify non-realtor referral sources who are still closing: divorce attorneys, young renters planning to buy, and parents of adult children still living at home. Visit 3 local businesses this week (wine bars, gyms, coffee shops) and introduce yourself to staff who interact with that demographic daily.
• Audit your realtor roster using Denise Donahue's A-player definition: any agent who sends 4+ closed deals per year. If you have fewer than 10 agents on that list, set a goal to add 2 new A-player candidates per week through November and December.
• Communicate with your referral partners and team NOW — send a video message this week acknowledging market uncertainty, sharing your specific plan for 2023, and asking what challenges they are facing. Silence signals abandonment; communication builds loyalty.
• Join a mastermind or paid proximity group before January. Ken and Geoff both credit in-person or community-based learning (not solo office time) for their biggest strategy breakthroughs. Book one event, group, or paid community by December 31.
• Get your CE done before year-end at app.knowledgecoop.com — $368/year covers all states plus ongoing skills training (income calculation, non-QM, reputation management). Use downtime in Q4 to sharpen product knowledge so your confidence is higher when volume returns.

The playbook

1. 1. Audit your business: identify your actual referral sources and which ones are still closing deals in the current market.
2. 2. Define your value proposition clearly — be able to explain why you are better than competitors without defaulting to 'I return calls fast.'
3. 3. Expand your agent roster: use the A-player benchmark (4+ closed deals/year) to evaluate current partners and target new ones.
4. 4. Proactively communicate with all partners and team members to eliminate ambiguity and project confident leadership.
5. 5. Prepare now for the rate drop: build a plan to re-engage buyers who are sitting on the sidelines so you capture refis and purchases when rates approach 5.5%.
6. 6. Invest in skills and community — join a mastermind, complete CE, and study the market so you show up as the expert when chaos drives people to seek context.

Worth quoting

“The sin of a leader is ambiguity.”

“There's a great opportunity to go gather market share because people just forgot how to do it.”

Best for

LOs who have gone quiet — stopped reaching out to agents and partners — and need a mindset reset plus a concrete Q4 action plan heading into 2023.

Links from the show notes

• Learn More
• Here
• Here
• Here