mortgage broker

What makes a Top Mortgage Broker?

There are a number of components to becoming a top mortgage broker.  However, every top mortgage broker seems to have a different take on how to achieve success.

It’s important to not try to reinvent the wheel but repeat what has successfully worked in the past. Sometimes the best ideas are already invented.

Networking and attending conferences is a great avenue to learn new techniques from successful producers.  The pitfall is you leave with too much info and feel you have to incorporate all techniques learned.  Over implementing will accomplish nothing.  And, in fact, may send you in a downward spiral of “over-analysis paralysis”.

10 guidelines to help you reach your goals as a mortgage broker:

  1. Review what you learned. Go over your notes, and evaluate realistic techniques that you wish to apply to your origination routine after a conference or any other sales orientated event, class, or webinar.
  2. Pick 2 to 4 strategies, techniques, or organization tactics you wish to implement into your mortgage origination routine.
  3. Write a plan to enhance your Mortgage Loan Origination Routine.
  4. Give yourself a realistic amount of time to implement the plan and don’t expect results to happen overnight. More importantly, set a time, at least once a week, to review your plan and make changes as needed.
  5. Pick some aspect or technique you have done that has been successful in the past and add it to your new routine.
  6. Communication with your existing clients, your new clients, and your referral partners is a key factor in your success. Make sure you have some type of follow up system or steps built into your plan.
  7. Make sure your processing staff is on the same page with you when it comes to communication. If they do not have the same philosophy or practices in place, it needs to be addressed with upper management. If upper management is unwilling to address a lack of communication issues, do your part to make sure everyone is in the loop.
  8. Always update your clients and referral partners even if you have nothing to report. It is common to have timeline delays and unexpected interruptions. If your processor has not yet received an update from an underwriter or you from the title company, this needs to be pointed out. Ironically, by pointing out a lack of communication, you and your processor are communicating better.
  9. Hire an assistant or set a goal to have an assistant help you accomplish your plan then, whenever possible, add more actions to your plan. I realize an assistant may not be in your budget right now but can ultimately help you exceed profitability and efficiency.
  10. Be honest. Even if the information is not that what you would have hoped. If someone asks you a question, you answer it. If they are getting misleading advice from another mortgage broker and it best to politely point out why it is incorrect and provide the correct information.

To learn more about becoming an affiliate mortgage broker click here.

Posted in Mortgage Brokers and tagged , , .