Do you know someone aspiring to be a broker? Here is some advice from brokers to their inexperienced counterparts.
Remember your first days as a mortgage broker?
For some, the words exciting, fun, and rewarding come to mind. For others, it can be a difficult experience, particularly when they don’t know a lot of people in the industry.
MPA has collated the ideas of some successful brokers on what rookies should do to kick-start their careers.
Accept it can be stressful, but it’s rewarding
Beginning life as a mortgage broker can be tough, but there’s light at the end of the tunnel, says Cara Quinn of Loan Market. She cites the longs hours and the initial small rewards as the hardest obstacles for new brokers.
Andrew Psalti of Yellow Brick Road agrees it can be a stressful profession, but believes that when the approval from the bank is confirmed and you receive a glowing testimonial from clients, it makes it all worthwhile.
“If you live for a fast paced job and enjoy interaction with customers and helping people from every walk of life achieve their dream, whether their first home or just a plan for future investments, this is a rewarding industry/job,” he says.
Have good support around you
For new brokers, it often feels like there’s so much to learn in so little time. Sebastian Salek of Salek & Co. recommends getting a mentor to help start you out on the journey.
“Having someone who you can bounce ideas from is a major advantage and so is partnering with the right aggregator who provides the right model for their business,” says Salek.
Loan Market’s Cara Quinn believes you can’t go past the people you know best to keep your mindset positive.
“It’s important to have family and friends who will support you and provide morale, money and referrals,” she says.
Network to know people
All brokers know the importance of networking to see how much business you can get, but it’s also important to network to know people, says Ebony Johnston of Mortgage Choice. This will help you stand out from the pack and be the client’s friend as well as their broker.
“When customers see that you care about one of the biggest moments in their life they will often become not only refers, but advocates of your work,” says Johnston.
Have a plan
Asha Long of Loan Market has some simple advice for aspiring mortgage brokers: Make a plan and stick to it. Long sets herself daily targets the night before so she knows exactly what to work on each day.
“You need to treat each job as if you were getting up and going to work for somebody else everyday,” says Long.
And the sooner you create the plan, the sooner you will achieve its intended outcomes. Just ask Joshua Vecchio of Discovery Finance Group who doesn’t believe in putting things off.
“Don’t wait until tomorrow, there is no better time than right now,” he says.
What advice do you have for new brokers? Share your thoughts below.
For some, the words exciting, fun, and rewarding come to mind. For others, it can be a difficult experience, particularly when they don’t know a lot of people in the industry.
MPA has collated the ideas of some successful brokers on what rookies should do to kick-start their careers.
Accept it can be stressful, but it’s rewarding
Beginning life as a mortgage broker can be tough, but there’s light at the end of the tunnel, says Cara Quinn of Loan Market. She cites the longs hours and the initial small rewards as the hardest obstacles for new brokers.
Andrew Psalti of Yellow Brick Road agrees it can be a stressful profession, but believes that when the approval from the bank is confirmed and you receive a glowing testimonial from clients, it makes it all worthwhile.
“If you live for a fast paced job and enjoy interaction with customers and helping people from every walk of life achieve their dream, whether their first home or just a plan for future investments, this is a rewarding industry/job,” he says.
Have good support around you
For new brokers, it often feels like there’s so much to learn in so little time. Sebastian Salek of Salek & Co. recommends getting a mentor to help start you out on the journey.
“Having someone who you can bounce ideas from is a major advantage and so is partnering with the right aggregator who provides the right model for their business,” says Salek.
Loan Market’s Cara Quinn believes you can’t go past the people you know best to keep your mindset positive.
“It’s important to have family and friends who will support you and provide morale, money and referrals,” she says.
Network to know people
All brokers know the importance of networking to see how much business you can get, but it’s also important to network to know people, says Ebony Johnston of Mortgage Choice. This will help you stand out from the pack and be the client’s friend as well as their broker.
“When customers see that you care about one of the biggest moments in their life they will often become not only refers, but advocates of your work,” says Johnston.
Have a plan
Asha Long of Loan Market has some simple advice for aspiring mortgage brokers: Make a plan and stick to it. Long sets herself daily targets the night before so she knows exactly what to work on each day.
“You need to treat each job as if you were getting up and going to work for somebody else everyday,” says Long.
And the sooner you create the plan, the sooner you will achieve its intended outcomes. Just ask Joshua Vecchio of Discovery Finance Group who doesn’t believe in putting things off.
“Don’t wait until tomorrow, there is no better time than right now,” he says.
What advice do you have for new brokers? Share your thoughts below.
