Mortgage Brokering as a business. Page 2

 

The downside of this was that even when you advanced to becoming

a 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...
You can now earn on mortgage business on a national level.
These new business models now allow you to operate under a
branch license so you can do business just about anywhere.
You have the ability to immediately leverage yourself. You can
earn commission overrides just like a traditional Mortgage broker
can. This means that you can build a national team throughout the
United States and earn from their activity.
No major investment - Instead of investing thousands of dollars
in franchise fees you can get started typically for around $200.
You are able to tap into proven business models that will help
you teach and train your unexperienced loan officer recruits.
How much money can you make?
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 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.
Positive Points
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. One
prevailing question might be...
There are already many people in the Mortgage business, how can
we compete?
To be perfectly honest, many people who are approaching the
mortgage business with old worn out models are ( life insurance quotes ) 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, this is a good one to consider. Spend ( life insurance ) 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.