Mortgage Brokering as a Freelance Business Opportunity
n the mortgage business their own future competition.
there are two foundational
areas of involvement. One The broker hires, spoon feeds and
is the position of "loan trains their loan officers and
officer," the other is working as pays them a commission out of the
a "broker." The loan officer for profits they receive from the
the most part earns from what is lenders with whom they work. As
called "personal production," the loan officer begins to learn
which means you are earning from the business they obviously start
what you are able to personally thinking about leveraging
produce by bringing mortgage themselves through the efforts of
business into your employer's others so that they can earn from
office. In some cases you may be the production of others as the
paid a base salary and/or draw, broker does.
but then you will be paid less in
commissions by the company The mortgage business is
(broker) you are working for. The currently experiencing
second - and most potentially re-definition by new leaders in
lucrative for you - area of the industry who are breaking old
involvement is the broker. Most traditional earning models.
people start out in the mortgage
business by working as a loan Within the last few years new
officer, gaining experience and leaders in the mortgage industry
expertise, and later they have been breaking the old
consider opening their own shop traditional earning models, and
by becoming a broker. This can be have created revolutionary new
frustrating for the broker who is approaches which allow just about
training loan officers, because anyone to build a business in the
they are continually losing their mortgage industry with very
best loan officers and creating little knowledge or experience.
Beginners are now able to make business now allow you to build a
more money - in less time - with mortgage business of your own
less effort! where you call the shots and your
income is not solely dependent on
In the past you would have your own personal production.
started out as a loan officer -
generally with a bachelor's Here are just a few of the new
degree in finance, economics, or advantages...
a related field, and earned
$30,000 to $50,000 a year. You You can now earn on mortgage
then worked locally where the business on a national level.
broker who hired you was licensed These new business models now
to do business. For the most part allow you to operate under a
your income level would have been branch license so you can do
limited until you gained enough business just about anywhere. You
experience to open your own shop. have the ability to immediately
leverage yourself. You can earn
The downside of this was that commission overrides just like a
even when you advanced to traditional Mortgage broker can.
becoming a broker yourself, you This means that you can build a
also took on the financial national team throughout the
liability of running a business. United States and earn from their
Opening a local mortgage activity.
brokerage can often be very
costly, along with the many No major investment - Instead of
additional liabilities that go investing thousands of dollars in
along with hiring, training and franchise fees you can get
running payroll. started typically for around
$200. You are able to tap into
New approaches to the mortgage proven business models that will
help you teach and train your
unexperienced loan officer Two Houses per month
recruits.
30% $2,100.00 Earned
How much money can you make?
64% $4,480.00 Earned
Let's compare the traditional
model of earning only from your 70% $5,320.00 Earned
personal production with the
model of introducing this concept Let's look at this a different
to others and being able to way that shows the power of
leverage yourself: leverage where you are not
depending entirely on your own
The following will give you an personal production. The
example of what you would earn If following example assumes that
you based your earning level on you are earning 64% from two
personal production at three personal loans a month and are
different commission earning earning from the personal
levels. The following are based production of five others who are
on a hypothetical $200,000 doing just one loan each per
mortgage. month.
One House per month Commission Personal Production 64% Earning
paid out Level
30% $1,050.00 Earned Your personal earnings -
$4,480.00
64% $2.240.00 Earned
Loans From 5 Others Who Are At
70% $2,660.00 Earned The 30% Level
from as many personal recruits
Your earnings from their that join your business.
production - $5,950.00
3) You can earn from the personal
Total Earnings For Month - efforts of those you recruit as
$10,430.00 well as the people they
themselves introduce to the
As you can see, it really is to mortgage business!
your advantage to immediately
involve others in the business. 4) Your earnings can be generated
Your personal efforts along with from other team members
the combined efforts of others throughout the United States
can really produce some exciting representing every conceivable
numbers, in this example over city you can think of or have
$125,000 a year in income! The never heard of.
exciting thing about this is that
you are not limited to just five Am I beginning to get your
people, you have the ability to attention yet?
grow a very large income very
quickly. By now your mind might be flooded
with additional questions. One
Positive Points prevailing question might be...
1) You don't have to wait until There are already many people in
you're experienced, you can start the Mortgage business, how can we
right away. compete?
2) You are not limited to earning To be perfectly honest, many
from the efforts of just five people who are approaching the
people, your earnings can come mortgage business with old worn
out models are finding it good offer to your customers. If
difficult to survive, while you want a real, tangible
companies and individuals who are business that you can run from
embracing these revolutionary new home, using the Internet, this is
concepts are exploding in growth. a good one to consider. Spend
some time searching the web and
In the USA, the housing market reading up on this and I think
has been booming, but now it is you will find the information you
leveling out or even shrinking in need, and some good groups who
many areas. Most of those will be happy to help you launch
homeowners would love to save on yourself into this business.
their mortgages now, and their
need is likely to increase if the It's a win/win. You will be
market keeps going down. There helping others at the same time
are some very creative mortgage that you build a long-term income
services available online, with and a business to be proud of,
some research you can make a very for yourself.
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