If you’re interested in pursuing a new career path, there are a lot of reasons why becoming a mortgage broker might be right for you.

Making the decision to set up your own broking business and “go it alone” is a big step and can seem a little daunting. Here are 3 essential points to consider.

Clearly understand your obligations

When considering the move to your own business it’s important you understand what obligations you must comply with after you leave your current arrangement. In particular, you will need to know whether you can contact your current clients or not and whether you are able to take any of your client information with you. When it comes to commercial terms, it will also be important to confirm whether trail payments will continue to be paid for your existing clients after you have left.

Do your homework to find the right broking model for you

There are lots of different broking models available in the market – so it’s important to take some time and assess which is the best option for you. Below is a good starting list of questions to answer for yourself before you start touching base with different broking models:

• Do you want leads provided by your broking model or not?
• Do you want to create your own brand or would you prefer to operate under the strength of an existing one?
• What areas of support will you need the most in your first 12 months?
• What value will you get for the money you’ll pay?

Be clear on the Client Experience you want to deliver

When establishing your own broking business you’ll want to implement systems and processes from Day 1 to deliver an experience that will result in repeat business and high referral rates. To do this you will need to be clear on;

• Your value proposition – why will clients choose you and your business?
• Your client engagement process – how will you deliver on your value proposition?

Are you looking for a market leading mentor to assist you how to become a mortgage broker? You’ve come to the best in the business. Talk to Sue today