When choosing the best mortgage broker near you in Newcastle, it is important to look for the career journey of your broker. You do not want to work with a broker that makes mistakes that could affect your chances of landing a good loan. Mistakes can be made by every broker, whether a newbie or an experienced broker. However, a good broker should be able to learn from their mistakes and get better. Brokers who make the same mistakes over and over are not the right brokers as they can easily mess you up. Here are some common mistakes that brokers make.
Lack of goal setting
If you don’t know where you want to be, there is no way you will know how you will get there. If you are a broker, it is important to know whether you want to close two loans every month or six loans every month. You should also know how many new prospects you should speak to, to make that happen. When you have clearly defined goals and be able to track your numbers, you will know how to achieve your goals. As a broker, you should implement a simple goal to make five calls a day and start tracking your career progress. If you are wondering why we say five calls then here is the reason. The reason is that it is obtainable and easy and after a year, that equates to over one thousand new contacts. That is not bad for a starting mortgage broker.
Lack of investment
Some people try to go at this business alone and this is the old-fashioned way that doesn’t work anymore. Some people don’t read books, they don’t go to networking events. They even don’t know the best applications and tools to make their business effective and run efficiently. With a lot of changes in the internet occurring daily and business discovering new ways to market services to their customers, it is best to stay on top of relevant information and utilize the best business practices related to your industry. You should invest in your training and education.
Lack of time commitment
Some brokers waste a lot of time looking at their friends’ photos on social media instead of using that time productively to market their business. If you are a broker, you should be committed to marketing your business. You should try and network on social media and share links to your website. You should also invest in marketing your business.
Deal by deal approach
This is the biggest mistake that even the best mortgage broker near in Newcastle you can make. You should avoid approaching your business on a deal-by-deal basis. This is a recipe for failure. It will also cause short-term burnout. You should approach your business on a client-by-client basis instead. Unfortunately, most brokers get a lead and hold onto it until when they close it. They then forget that the person exists afterwards. Brokers should implement a follow-up sequence for their clients and work hard to develop good relationships both after and before closing.
