Lending Specialists has been operating in the Mortgage and Lending industry since 1999 and over this time we have crossed paths with thousands of Successful Mortgage Brokers (both part-time and full time). There are a few that have attracted our attention as we find ourselves drawn towards those that share similar habits and beliefs, and a goal to be successful in the industry.
If you thought that Mortgage Brokers achieve success because they are lucky, then you are quite wrong. From our observations, the old adage of “the harder I work the luckier I get” rings true, as these successful Brokers all have strong work ethics, sound processes and enjoy working with other like-minded people.
The Successful Mortgage Brokers keys to success are formed through the following habits:
Great Mortgage Brokers, Great Solutions
A successful mortgage broker displays great problem solving abilities. Whether it is innovation or utilization of their resources, they will always seem to find the right solution for every problem. Whilst they may not immediately have the answer themselves, they will use the people around them and their relationships to find the best solution.
They also have great observation skills, allowing them to identify a potential problem in the early stages which gives them time to come up with a solution before the problem gets out of control.
As a Mortgage Broker, there can be some ups and some downs. The thing about successful brokers that will amaze you is they have a very remarkable drive. Giving up is not an option, and failure is just another challenge to push them to a higher level of performance.
They put in the effort because they have a clear goal in mind. The Successful Mortgage Broker will not throw up their hands complaining “it’s too hard”, they will just look harder for a solution and if something isn’t working they will make changes.
They Step Out of their Comfort Zones & Think Out of the Box
If you are brave enough to step out of your comfort zone, then you will gain more life experiences and have a better chance of learning. Successful Mortgage Brokers don’t get bothered by mistakes and failures, as long as there is an opportunity, they make sure to grab that opportunity.
When you are able to step out of your comfort zone, you will see there are a lot of circumstances that will allow you to do better and think deeper. Use the people and resources around you.
Discipline and Respect
If you have discipline with your work, then you can focus more on your business growth activities and the positives associated with them. The fact that successful Mortgage Brokers follow consistent guidelines and strict processes is evidence that they are disciplined. They also possess great Customer Relations Management Systems and use them to keep their clients informed and to market their business. They also have the right strategies to analyze situations with their customers that help to build better relationships.
Finally, they have respect. They place a high level of importance to every decision of the people they are working with, be it their client, colleagues or lenders.
They Value Time
As an experienced broker, it becomes easier to spot good deals and bad deals. A bad deal may simply be one which does not fit with your skill set or business ethics. So if you see a bad deal, then move on and look for a better one. If you continue working with a bad deal knowing that it won’t get any better, then you’ll only be wasting your time and that of your client trying to come up with impossible solutions.
Knowledge is Power
If you open yourself to fresh opportunities, you will continue to learn new things. Successful Mortgage brokers observe their environment, engage in other businesses, evaluate the situations and analyze the solutions.
Through experience, you learn. Through failures, you’ll know how to avoid the same situation. Through mistakes, you’ll find better solutions.
Everything has its Measures
If you can’t find a way to measure it, then you won’t find a way to develop it. To achieve the title of being a successful broker, you must know how to measure your numbers in terms of the types of activities you undertake that lead to successful settlements.
So, how many habits have you practiced? For future success, we urge you to exercise these habits. You may be the next Successful Mortgage Broker !
Barry Oxley – Lending Speciallists