Evaluating Your Portfolio in an Uncertain Market – An eBook for Lenders of All Sizes
A Mortgage Broker Career: How to Succeed as a Broker
Wondering if a mortgage broker career is the right career for you? Successful brokers earn a good living and often work independently as their own boss – but this takes work! The most successful brokers are hard-working, highly specialized professionals dedicated to getting homebuyers the best rate possible using the best tools and resources available to work in the client’s best interest.
With a mortgage broker career, you can help secure the best rates for homebuyers purchasing their first home and homeowners refinancing their mortgage. That being said, this is a competitive career field, and you need to use everything at your disposal to compete.
Being a mortgage broker means you can be more versatile than a single lender, and can pair clients to the best lenders and deals. Whereas a bank may only offer a limited range of products, your job as a mortgage broker is to pursue the best deals at several different lenders, including the big banks, and to easily arrange loans with any of them for your clients.
Where should you begin? Before you can be licensed in the province where you plan on securing mortgages for clients, you have to take the required series of courses and exams to ensure you get the appropriate education necessary. Canadian Mortgage Trends suggests a six-step plan to become a successful mortgage broker in Canada:
- Get an education – wherever you work, get the entry-level requirements.
- Get hired – sounds simple, but you need to find the right company or brokerage that works for you.
- Get working – build your business, cultivate good relationships with lenders, and utilize the right technology and resources to increase your bottom line.
- Take it to the next level and become a senior broker.
- Grow your business even further. Hire more staff or open a new branch….
- Give back to your community. It’s good to give, and it helps promote you and your business without heavy sales tactics.
The Canadian mortgage industry is worth over $1.4 trillion. That’s right – $1.4 trillion. That’s a big industry, and there are a lot of brokers competing for a piece of the pie. How can you set yourself apart from the pack? By offering more.
A good mortgage broker understands their client’s needs, offers the best solutions, is flexible and does their due diligence for every homebuyer.
Do your due diligence using Purview. Build your mortgage broker career with the powerful tools available at www.purview.ca.
« Back to Blog