As published in Scotsman Guide's Residential Edition, February 2009.
The time is right for even the most-seasoned mortgage brokers among us to ask ourselves some tough questions. This can evaluate where we stand in our careers and where we are headed.
For many, the answers might lead to a decision to join a professional branch system.
Is it for you?
To understand if and how a net branch can help you, we must first understand what we are talking about.
Put simply, mortgage brokers who work in professional branch systems belong to divisions of larger companies that assume some of the brokers’ professional responsibilities. By joining these partnerships, when applicable and when adhering to state and national regulations, brokers can concentrate on loan origination over professional chores.
Can a branch partnership benefit your business? Ask yourself the following questions, the answers to which can be complex and likely will vary based on your values and perceptions.
What is the best use of my time?
Am I a market specialist?
Am I losing opportunities by wearing too many hats?
Could my business use a higher level of professionalism?
Have I aligned myself with the best system available?
Are my business partners well- respected professionals?
As a broker, you likely have a number of time-consuming chores. These tasks can include marketing, human resources, technological troubleshooting, licensing, bookkeeping, and tax and insurance concerns -- not to mention staying up-to-date with changes to local, state and federal laws and regulations.
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