The mortgage broker industry is experiencing a renaissance. In recent years, the housing industry was reliant mainly on banking giants for mortgages. Today’s marketplace sees mortgage brokers once again finding their foothold, creating healthy competition and a firm presence in the business space. Shaun Francis, Principal, Senior Mortgage Consultant and Co-Founder of Bespoke Lending Solutions, is helping lead the pack in the broker rebirth. With over 14 years of experience in the financial industry, Shaun’s successful longevity in the industry is a testament to how you can create success for yourself in a competitive industry. Here are his 7 essentials to success.
Manage Your Time Wisely
Time management is important in any industry. As a mortgage broker, Shaun knows this is especially true. Between the face-to-face client meetings to working on marketing campaigns, all of these activities require an investment of your time. Creating a schedule and making smart decisions about prioritizing will help give you a leg up.
Invest in Yourself and Your Business
As Shaun puts it, “you are your own best asset.” Demonstrating a commitment to yourself and your industry shows confidence and knowledge. Self-dedication translates into trust, both from your network of peers and potential clients. Plus, continually growing in your skillset allows you to add value to your interactions and address needs while staying ahead in the market.
Market Promote Daily
Working in an industry built on relationships means that you are always “on”. What you do online and in your personal life is a reflection of who you are as a professional. Seize the opportunity this creates to highlight yourself and your value at every opportunity. You never know where business may be coming from!
If there is one must hit on the list of qualities essential to success, this would be it. A reputation built over the course of years only takes one ethics misstep to crumble into pieces. Not only would a misstep be damaging to an individual, but the ripple effects would be felt by stakeholders and throughout the industry. Play the long game. With the great income potential available long term as mortgage brokers, no one deal is worth the sacrifice to your reputation.
Build a Referral Network
Having a large and trusted network to refer to is crucial in gaining momentum and growing your business. It creates a web of resources you can tap into. The larger the web, the more opportunities to catch new business and grow your network further. Networking events are a great way to invest some time to grow as a professional.
Much like the importance of a large industry network, it is equally important to continually generate leads. More leads mean more opportunities to create sales experience. A great working relationship then leads to referrals and additional potential clients down the road. “Leads are the lifeblood of any successful entrepreneur.”
At the end of the day, Shaun believes that “people generally like being around pleasant people who enjoy their work and can positively influence them.” Knowledge is important, but sales are about attraction. Show your passion for what you do and you will attract clients to your business.