Brokers reveal the four keys to professional and personal success. Do these sound familiar?
As many mortgage brokers have discovered, the job can be a pretty tough gig.
MPA has spoken to some of Australia’s most promising young talent and distilled the most common strengths necessary to make it in the industry today.
Passion for networking
Since mortgage brokers are constantly building relationships with clients, it helps if they are passionate about doing just that. This is especially important when the results don’t go your way, says Cara Quinn, from Loan Market.
“You need to enjoy dealing with people and have thick skin,” she says. “Particularly when it comes to referral sources because you will get a lot of no's and often doubt yourself, so it’s important to brush it off and get on with the job.”
Marissa Schulze from Rise High Financial Solutions argues that it’s imperative for mortgage brokers to be the sort of person who loves meeting people and networking.
“Because if you don’t really enjoy that then I don’t think it’s very easy to build a client base, to be honest,” she says.
Empathy with clients
Empathy and understanding are paramount to be a key player in the industry, says Andrew Psalti, from Yellow Brick Road.
“We constantly place ourselves in the shoes of our clients and when we ‘dummy run’ a new process we ask ourselves: If we were not from a finance background, would we understand what is going on? If not, we change our tact,” Psalti says.
Indeed, a readiness to empathise with and aid clients is essential to success, says Marissa Schulze.
“You have to have an underlying desire to help people and that’s what I love most about the industry,” she says.
“The fact that I can help people achieve what they want to achieve – whether it’s buying a house or saving money or getting them into investing or helping them through a tough situation like a divorce.”
Cliff Ferrer, from 1st Street, adds that “putting the client at the centre of everything you do is important”.
Drive
Mortgage broking is an industry where hard work and motivation are crucial, says Sebastian Salek, from Salek & Co..
“I find that one needs the energy and drive to go that extra mile to help their clients, whether this is over the weekend or after hours, clients appreciate the extra hard work and will stay clients for life,” he says.
In combination with drive, brokers need to manage their time well and set their own goals, says Asha Long, from Loan Market.
“As you work on your own, you don’t have someone pushing you to achieve anything, so you need to have the drive and motivation to do that,” she says.
Love of learning
Knowledge is power and brokers must understand that and be in a constant state of learning, says Ebony Johnston, from Mortgage Choice.
Hank (Hoa) Hong, from Home Loan Experts achieves this through constant education and upgrading of knowledge in the office.
“We have broken the market into what each lender can be done and train on these subjects once a week,” says Hong. “We also have a weekly quiz on latest updates and are constantly reading industry magazines like MPA.”
For more insights from new brokers look out for MPA issue 14.2 – hitting desks in January.
What are other key strengths needed to make it as a mortgage broker? Share your thoughts below.
MPA has spoken to some of Australia’s most promising young talent and distilled the most common strengths necessary to make it in the industry today.
Passion for networking
Since mortgage brokers are constantly building relationships with clients, it helps if they are passionate about doing just that. This is especially important when the results don’t go your way, says Cara Quinn, from Loan Market.
“You need to enjoy dealing with people and have thick skin,” she says. “Particularly when it comes to referral sources because you will get a lot of no's and often doubt yourself, so it’s important to brush it off and get on with the job.”
Marissa Schulze from Rise High Financial Solutions argues that it’s imperative for mortgage brokers to be the sort of person who loves meeting people and networking.
“Because if you don’t really enjoy that then I don’t think it’s very easy to build a client base, to be honest,” she says.
Empathy with clients
Empathy and understanding are paramount to be a key player in the industry, says Andrew Psalti, from Yellow Brick Road.
“We constantly place ourselves in the shoes of our clients and when we ‘dummy run’ a new process we ask ourselves: If we were not from a finance background, would we understand what is going on? If not, we change our tact,” Psalti says.
Indeed, a readiness to empathise with and aid clients is essential to success, says Marissa Schulze.
“You have to have an underlying desire to help people and that’s what I love most about the industry,” she says.
“The fact that I can help people achieve what they want to achieve – whether it’s buying a house or saving money or getting them into investing or helping them through a tough situation like a divorce.”
Cliff Ferrer, from 1st Street, adds that “putting the client at the centre of everything you do is important”.
Drive
Mortgage broking is an industry where hard work and motivation are crucial, says Sebastian Salek, from Salek & Co..
“I find that one needs the energy and drive to go that extra mile to help their clients, whether this is over the weekend or after hours, clients appreciate the extra hard work and will stay clients for life,” he says.
In combination with drive, brokers need to manage their time well and set their own goals, says Asha Long, from Loan Market.
“As you work on your own, you don’t have someone pushing you to achieve anything, so you need to have the drive and motivation to do that,” she says.
Love of learning
Knowledge is power and brokers must understand that and be in a constant state of learning, says Ebony Johnston, from Mortgage Choice.
Hank (Hoa) Hong, from Home Loan Experts achieves this through constant education and upgrading of knowledge in the office.
“We have broken the market into what each lender can be done and train on these subjects once a week,” says Hong. “We also have a weekly quiz on latest updates and are constantly reading industry magazines like MPA.”
For more insights from new brokers look out for MPA issue 14.2 – hitting desks in January.
What are other key strengths needed to make it as a mortgage broker? Share your thoughts below.
