Mistakes Every Rookie Mortgage Broker Must Avoid in 2018

• January 29, 2018

Becoming a mortgage broker is a challenging, but very rewarding career if you finally get the hang of it. For rookies in the industry, there is always a lot to learn, and several pitfalls to avoid. This is because the industry is ever evolving, and the only way to stay at the top of your game is to evolve in equal proportion. As you journey towards the top, here are the three rookie mistakes you must avoid at all costs:

Failure to get the right training

Being successful in any venture in this world requires getting the right training in the respective field. Concerning real estate, this is not the place where you read the books, then wake up a millionaire the following day. You should take your time to learn the ins and outs of the property market in the same field you wish to sell your trade. Warm up to the big players, and always be willing to learn from them.

Taking clients for granted

Your success as a mortgage broker is directly dependent on your ability to sell to your clients. Most of the rookies have a habit of focusing on the commissions more than they focus on the satisfaction of their clients. You should always know that once your clients are satisfied, the commissions will keep on coming, but if they are not satisfied, you won’t have any deals from which you can earn commissions.

Not telling clients the truth about the fees

Some newbies, especially the very young ones think that hiding fees from clients will increase their chances of closing deals. This is never the truth, and if anything, it will make so many deals fly off the table. You should always be upfront with the fees and tell clients exactly what they will be expected to pay. If you help a client professionally, they won’t be concerned about the fees. Their satisfaction should be regarding the great job you do for them.