2022 Year in Review: Lloyd Streisand, US Bank - The Streisand Team

What person, project, transaction or market trend had the greatest impact on your industry this year? My team is in the residential mortgage industry. We have been impacted by the change in interest rates. This has limited the amount of purchase activity that there is and has just about eliminated our refinance business. Our clients and referral sources needed to understand what the future is going to be in a rising market. Coordination among the professionals necessitated an understanding of new and different sales strategies to minimize the impact of interest rate increases at all levels.

What was your greatest professional accomplishment or most notable project, deal, or transaction in 2022? This year was a period of reorganization. We needed to revise our marketing efforts and to develop products that will allow us to provide borrowers with buying alternatives. Although we have always been strategically oriented, the programs and strategies had to demonstrate that financing a home was a valuable opportunity now. We needed to reach back on our experience to assess the methods that were effective during a rising interest market. The result was a re-education process of how to deal with it. What people had to become aware of is the nature of investing in real estate and the process used to make it a good investment as well as minimize the impact of higher interest rates. To get our message out, we joined the IREON Network Group which expanded our exposure to individuals and companies in the real estate industry.

How has your career path changed in 2022? I used to focus on seeking referrals from local Realtors, accounts and financial advisors - people I could meet with and interact with. Now, with the benefits of Zoom and other technology, I have created strong relationships with potential referral sources all over the east coast.  

What emerging trends will drive investment and development in 2023? We have to deal with constant changes in the economy and respond to these changes. It may be one of the most challenging times of my career considering the pandemic, the economy and international events. We have gone from feast to famine as demand for mortgages has drastically changed. The factors driving investment will depend greatly on a re-education of the populace to understand how to exist in this environment and a greater amount of coordination and understanding or the services and products that will allow for comfortable investment choices.