Inflation is not simply a fiduciary concept. Granted, Treasury 30-year bonds dropped as investors bet on faster inflation even as Federal Reserve Chair Janet Yellen dismissed signs of rising consumer prices. This is more of market speculation which I actually agree with as a rare occasion. We have been seeing inflation with respect to Contractors in the Mortgage Field Services Industry over the past 18 months as well. What I mean by this is that the supply of Contractors has dwindled creating a false effect of Supply vs Demand. You see, the Contractors whom are being called upon daily to both absorb and take over work for the others leaving are not quality. Thus, the valuation of the Supply of Contractors in the Industry is hyped by an artificial number of those simply breathing oxygen. I am currently working with two Clients whom are relying upon a unique skill set I possess to navigate them through the normally treacherous waters of liability. Clients and Contractors alike experience vertigo with respect to liability daily. Two options present: Grab the barf bag (Hey, I did it many a time before I became accustomed to HALO G Force) or become acquainted with your new landscape — Due Diligence. You see, what NO BACKGROUND CHECK FIRM is able to tell a Company is whether or not the people they hire are battle tested.
Guantanamo Bay, Cuba, is the public face of that which occurs in Ghost Facilities on a daily basis. For those whom think I bullshit, pull the Tower Logs and begin tracking military flights over the past 48 months in and out of the Middle East to Europe. The analogy I use is to compare the fact that information is the most valuable commodity on Earth. While the law may hamstring you as a business owner in performing the due diligence you would like, Consultants do not experience this how shall we say vertigo.
The days of Contractors simply cleaning out shitters are long gone. Daily, the Financial Sector is realizing that they are beginning to have a need for One Stop Shops. Anyone can clean out a toilet; it takes a Contractor to pull permits. To understand those Firms which are going to prevail in the coming months, simply troll through Craigslist. If a Company is soliciting on Craigslist, they are going to be blackballed very, VERY soon. This isn’t me saying such: This Comes From On High. The liability is simply to high anymore. Craigslist is great if you need a blowjob or a broken radio; Firms whom spend money to recruit their Contractors AND invest money in their Education will survive The Purge.
I could give two shits whom likes me or does not as ego has never been a strong suit of mine. I tell Clients what they do not want to hear each and every day which is precisely why they hire me. I am hired to ensure that liability is never a word in their vocabulary. Over the past three months I have been in more states than most people see in a lifetime performing on site Consulting. It is not for the faint of heart. The main reason being that pesky thing referred to as Due Diligence. The days of saying, “It was the Contractor’s fault,” are gone. The insurance industry has grown weary of bailing out Member after Member of the National Association of Mortgage Field Services (NAMFS) simply because they are listed as Additionally Insured. NAMFS is not alone; however, they are the best known examples. Even NAMSF Rank and File are beginning to realize that their Chief Prognosticator, Eric Miller, must be replaced unless he alters course.
I took a call an hour ago from a former Client in a world of shit. Fucked up jobs; wing nut Contractor, what should we do? Normally, I charge for shit like this, but I had that momentary lapse of reason I normally do for former Clients and issued Marching Orders. You see, everyone in this Industry needs that on occasion. Civilians are no different than those in the military in that they constantly are looking for a Set of Orders. Leadership is determined by those whom have the answer to any question even at 2135EDT on a Sunday. Everyone needs a Wolf like the one in Reservoir Dogs. That is what I do: I clean up messes people make and then they hire me to ensure they do not pay the exorbitant fees in the future. It is not a novel concept. National Field Network paid Anderson|Biro a healthy sum to transfer talent from the collapsing Field Asset Services (now Assurant Field Asset Services (AFAS)). It is pretty well known within the Circles I occupy that the due diligence performed included ISTAR Intelligence. All roads lead to Rome.
The question that those of you reading tonight have to ask yourselves is this: When I hire a Contractor to go out and do a Work Order or Rehab for my Firm precisely what the fuck do I really know about them? Just because they weren’t busted for screwing the underage girl doesn’t me they know jack about Contracting. The Client whom called me tonight? Well, because they didn’t want to perform Due Diligence will now pony up tens of thousands of dollars and potentially still loose their Contract.
When you weigh the costs of hiring me for Due Diligence versus the price you are ultimately going to pay when your sexual organ gets caught in a zipper because your Craigslist hack confused joist with rafter, it is worth it — it is a business expense which writes off anyway. Liability is one way to measure the valuation of productivity. Another is retention. Let me ask you this: What are you doing to ensure that your Contractors are not stolen? First, do you ever review any of the conversations between your staff and the Contractor — or Client as far as that goes? With respect to the Contractor, what are you doing to both improve their lot and improve your Return on Investment (RoI)? Do not fool yourself in that those working for you today will be with you tomorrow. Anderson|Biro are not the only ones out head hunting. I do it every day. If you have a Contractor one of my Client’s want, I am going to poach them — welcome to the Brave New World. Depending upon the need, some Contractors are even being offered Signing Bonuses. The reason? Far better to pay Market Value and not have the headaches associated with the Craigslist Crap Shoot.
I head to the New England States towards the end of the week to meet with a New Client. Their name, like all Foreclosurepedia’s Clients names, go to the grave with me. What it does open up is an opportunity for anyone along my planned travel route to talk shop. I will be in and staying near the Massachusetts Institute of Technology (MIT) for a couple of days and then heading back to Knoxville.
One thing is for damn sure, we aren’t in Kansas anymore Toto. The stability of velocity (M1) is wishful thinking with respect to supply and stock vis-a-vis Contractors in the Industry. Long gone are the days of loyalty — or are they? You see, that is what I do with respect to Companies wishing to not follow in the footsteps of Heather Berghorst or Adam and Amanda Buczek. Labor, not the Contracts one currently possesses, are the New Mecca. The cornerstone to this algorithm is an educated workforce. Education. Contractors whom due diligence is performed upon become investments. Does one allow their investment to lie around without application and guidance? No. So, why would a Company to allow a Contractor to come into the stable without ensuring they are constantly evolving? Vision. Those whom succeed have vision. That vision, from time to time, needs to be refocused; back to basics.