Mortgage Brokering: Drive Your Future to Financial Success
If you have exceptional “people skills”, are decent in finance and a risk taker who knows how to capitalize on that risk almost always, then there’s a way for you to make a living by combining all of these abilities together – mortgage brokering. Pursuing a career in this field has many benefits. Besides meeting the right certification and licensing requirements, you don’t need to have a degree in order to pursue a career in it.
While a lot of people assume that it takes years and years of studying financial markets and property, this really isn’t the case. All you have to do is take a course in mortgage brokering to make yourself a qualified worker in the field. Proper mentoring and training are of utmost importance and they’re open to a wide range of career-pursuers.
One of the biggest rewards you’ll get is the good feeling of helping other peoples’ dreams come to fruition as this career path gives them the opportunity. That feeling when you help a young couple get the keys to their first home, knowing you started working with them to fix their credit just 6 months before that, is a reward on its own.
A lot of studies have shown that it’s really important to be happy with what you choose to do for a living. Another cool aspect is that you don’t have adversaries once the loan procedure starts, as everyone involved wants you to close – the sellers, the buyers, you, your team, the agents, title, insurance agents, literally everyone. The job of everyone involved in the process is to make sure everything is accurate. They don’t want to kill your file, so there’s this forceful, but positive energy around you the whole time.
And remember, the first year is most likely going to be the hardest, until you figure out how things go. Since the business is very sales-oriented, you’ll have to convince multiple referral partners that you will help clients without ruining the deal. Unless you have someone willing to make you a loan assistant, give you a salary and a bonus per file that he closes, I’d personally be very wary. So you have to be willing to have months where you might not close a loan and make commission otherwise. But as we all know, patience is a virtue, and as long as you are persistent and love what you do, you should have no problem making an admirable income down the road.