Become a Mortgage Broker
The mortgage business is currently experiencing re-definition by new leaders in the industry who are breaking old traditional earning models.
These modern-day mortgage brokers have created revolutionary new approaches which allow just about anyone to build a business in the mortgage industry with very little knowledge or experience. Beginners are now able to make more money - in less time - with less effort!
In the past you would have started out as a loan officer - generally with a bachelor's degree in finance, economics, or a related field, and earned $30,000 to $50,000 a year. You then worked locally where the mortgage broker who hired you was licensed to do business. For the most part your income level would have been limited until you gained enough experience to open your own shop.
The downside of this was that even when you advanced to become a mortgage broker yourself, you also took on the financial liability of running a business. Opening a local mortgage brokerage can often be very costly, along with the many additional liabilities that go along with hiring, training and running payroll.
New approaches to the mortgage business now allow you to build a mortgage business of your own where you call the shots and your income is not solely dependent on your own personal production.
Here are just a few of the new advantages if you become a mortgage broker...
Let's compare the traditional model of earning only from your personal production with the model of introducing this concept to others and being able to leverage yourself:
The following will give you an example of what you would earn if you based your earning level on personal production at three different commission earning levels. The following are based on a hypothetical $200,000 mortgage.
One House per month Commission paid out
30% $1,050.00 Earned
64% $2.240.00 Earned
70% $2,660.00 Earned
Two Houses per month
30% $2,100.00 Earned
64% $4,480.00 Earned
70% $5,320.00 Earned
Let's look at this a different way that shows the power of leverage where you are not depending entirely on your own personal production. The following example assumes that you are earning 64% from two personal loans a month and are earning from the personal production of five others who are doing just one loan each per month.
Personal Production 64% Earning Level
Your personal earnings - $4,480.00
Loans From 5 Others Who Are At The 30% Level
Your earnings from their production - $5,950.00
Total Earnings For Month - $10,430.00
As you can see, it really is to your advantage to immediately involve others in the mortgage broker business. Your personal efforts along with the combined efforts of others can really produce some exciting numbers, in this example over $125,000 a year in income! The exciting thing about this is that you are not limited to just five people, you have the ability to grow a very large income very quickly.
1) You don't have to wait until you're experienced, you can start right away.
2) You are not limited to earning from the efforts of just five people, your earnings can come from as many personal recruits that join your business.
3) You can earn from the personal efforts of those you recruit as well as the people they themselves introduce to the mortgage business!
4) Your earnings can be generated from other team members throughout the United States representing every conceivable city you can think of or have never heard of.
Am I beginning to get your attention yet?
By now your mind might be flooded with additional questions. Two prevailing question might be...
"There are already many people in the Mortgage business, how can I compete?"
"If this is so good, how do I become a mortgage broker?"
To be perfectly honest, many people who are approaching the mortgage broker business with old worn out models are finding it difficult to survive, while companies and individuals who are embracing these revolutionary new concepts are exploding in growth.
In the USA, the housing market has been booming, but now it is leveling out or even shrinking in many areas. Most of those homeowners would love to save on their mortgages now, and their need is likely to increase if the market keeps going down. There are some very creative mortgage services available online, with some research you can make a very good offer to your customers.
If you want a real, tangible business that you can run from home, using the Internet, become a mortgage broker, this is a good business to consider. Spend some time searching the web and reading up on this and I think you will find the information you need, and some good groups who will be happy to help you launch yourself into this business.
It's a win/win. You will be helping others at the same time that you build a long-term income and a business to be proud of, for yourself. Become a mortgage broker!