If you’ve entertained the idea of getting into the brokering world, but aren’t quite sure if you should really invest the money and time in learning the ins and outs of this particular industrial sector, then you should probably keep on reading. I too was insecure about it, and gave it a lot more thought than I should have, honestly, until I convinced myself to take a giant leap of faith and do it regardless of the outcome.
Well, it’s been nothing short of extraordinary – you get to help other people while enjoying a lifestyle and financial security not many do, so I grew to love it. For that reason, in this article, I’ll talk about some of the benefits people in mortgage brokering enjoy, with the aim to help you convince yourself that this is the right field for you to work in.
It’s a Growing Market
The sector is expected to grow by 8% by 2024. As more and more millennials are entering the workforce and baby boomers leave it, there is a high demand for mortgage brokers as it fluctuates with the health of the economy. And since the economy is still healing from the last financial crisis, more and more individuals are looking to buy a home. Moreover, a lot of mortgage companies offer substantial perks and benefits to their mortgage brokers, including sales commission, retirement plans, advertising and leads.
A Flexible Schedule
Depending on the type of loan officer you decide to be, the time spent working remotely, or in an office, can vary. For instance, a commercial mortgage broker will spend most of their time away from the office, and will communicate with his clients via a laptop or a mobile phone. Generally, mortgage officers have flexible schedules, compared to people in other fields, which enables them to keep a good work-life balance.
Professional and Personal Relationships
The nature of the job allows you to be directly involved with many people looking for help when making one of the most important life purchases. Being trustworthy is the most necessary characteristic you should posses if you want to progress and succeed in this line of work. If your clients can’t trust you, it’s impossible to build a client base and good reputation. Another key characteristic is discipline. You have to be good at following up and communicating with clients. Being focused on the job is imperative as it can lead to a lot of referrals.
These three benefits are just the tip of the iceberg. There are much more tempting reasons to take a career in this field. What company you work for and where you live will determine more of the specific benefits and lifestyles. Most of the time, it literally and metaphorically pays off to invest the time and money into a career in mortgage brokering.