Being a mortgage broker can have a lot of great perks. It typically pays well, and you’ll be helping people get into homes they can love for a long time. It’s a rewarding career for a lot of people. But there are some dos and don’ts you want to consider, to make sure you’re handling your new job the right way, from the very beginning. Here are a few things to think about:
1. DO Make Sure You Follow All Laws and Guidelines for Your Industry
You need education, training, and licensing to be a mortgage broker. Those aren’t things you want to skimp on, because they’re extremely important. Not only do you want to be sure you’re properly licensed for your job and your location, but you also want to be sure you’ve gotten the right educational information. You’ll be more valuable to your clients that way.
2. DO Make It Easy for Clients to Get Hold of You
It’s hard to make a career out of being a mortgage broker if you don’t have clients. When you’re brand new, getting those clients can take a little time. But you can make it as easy as possible for them, by being accessible. Make sure they can find you, including by calling and by reaching out online. If you have a physical location and set office hours, make sure they can find that information, too.
3. DO Put in the Time to Market Yourself
In today’s technology-based world, it’s very important to know how to market your business. In the case of mortgage brokers, this also means marketing yourself. Take the time to get organized and build connections with other loan officers, as well as potential clients. An Instagram page is a great way to start, you can begin by educating your audience about what you do, and how you can help them. Later on, working on your own website can help you strengthen your reach and solidify you in the industry.
4. DON’T Put Off Paperwork or Responding to Client Questions
In some jobs, you can handle things on your own schedule. But being a mortgage broker means you need to focus on proper timelines for all the paperwork that needs to be turned in to keep the mortgage process moving forward. Your client will be expecting that, and you don’t want to let them down. You also need to respond to their questions in a timely manner, to build trust with them.
5. DON’T Forget to Keep Up With Licensing and Other Requirements
If your license needs renewed, or you need to do any kind of continuing education or additional training, make sure you pay attention to the due dates and requirements for those things. You don’t want to get into trouble for letting your license lapse, or find that you can’t renew it because you didn’t take a required class.
You can really enjoy your career as a mortgage broker, provided you make sure you’re focused on the right education, meeting client needs, and working hard to build a great future.