How balancing empathy with rivalry elevates mortgage professionals
Is it possible for mortgage professionals to be both fiercely competitive and deeply empathetic? According to Brendan McKay, the owner of Maryland-based McKay Mortgage, this combination isn’t just possible; it’s the formula for true success in the mortgage industry.
This was the focus of an MPA TV interview with McKay, who shared valuable insights on competitiveness, empathy, and effective communication within the industry.
The value of friendly competition
Competition, McKay argued, isn’t about outdoing others at all costs. Instead, it’s a healthy, friendly rivalry that keeps professionals sharp and driven.
“It’s important people are competitive in different ways,” he said. “I am very much so, and it was one of the hardest things for me when I first left an office environment and went off on my own. I didn’t really have anyone to compete with until I started producing enough to start making some of the top producer rankings and things of that nature, and it’s something I take a lot of joy in.”
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While he doesn’t advocate for reveling in competitors’ failures, he acknowledges the value of friendly competition.
“I think there’s competitive to the point that you celebrate your competition’s failures as much as your own successes. I certainly don’t think I got that far, and I don’t love that behavior, but [I love] friendly competition,” McKay said.
Empathy: The heart of effective service
More than just achieving high numbers, McKay believes the mark of a superior mortgage professional lies in their capacity for empathy.
“The best mortgage professionals all have the pretty deep ability to put themselves in other people’s shoes,” he said.
McKay gave an example of how he applies this approach, especially when working with realtors for the first time. Recognizing the anxiety and uncertainty realtors may feel when their client’s transaction is in the hands of a new loan officer, McKay makes a concerted effort to communicate clearly, align expectations, and provide constant updates.
“I think that, too often, salespeople communicate things to people in a way that would be effective for them to hear it, or market in a way that would be effective to them. But that’s not how it should be,” McKay said. “You’re not selling to yourself, right? You’re selling to other people. So I think that if you can think about things from the perspective of the client or the realtor, you are going to be wildly successful and happier, too, because it just makes communication easier if you know where they’re coming from.”
Watch the full MPA TV episode for free to gain more insights from McKay.
