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Mortgage Broker News | 20 Feb 2013, 12:00 AM Agree 0
The only real measure of success for CAAMP’s new broker education course will be how many of those students actually remain in the channel and for how long, argues an industry vet and advocate for more-effective training.
  • Ingrid Meninga | 20 Feb 2013, 06:09 AM Agree 0
    Hi David,
    Since I service both the Mortgage and Real Estate industries (with marketing/training) I would politely say many REALTORS feel their training is not done right either. I do agree with you that it's one thing to know the regulations inside and out, and another on how to "do" business.When I took my Mortgage Broker course I don't recall anything on "how to run a Mortgage Broker business" or "how to get clients", or "How much start-up money you need when you launch your career" which is why there will continue to be so many people coming into and quickly departing the industry, unless they seek training from their Brokerages, or selected training programs. It's nearly impossible to make a living as a Broker if you don't know how to capture, nurture & close leads or understand in depth that you're running an actual business - not just offering a service.
    Best,
    Ingrid
  • Paolo Di Petta | dipettamortgage.com | 20 Feb 2013, 06:11 AM Agree 0
    First, Real Estate has pretty high 2-year dropoff rate, despite the length/cost of the course. The fact is that not everyone is cut out for a self-motivated saled-based industry. And that's ok - unfortunately, it takes them a couple of years in the industry to figure it out.

    Second, the better indicator of success would be increased mix of broker-originated deals vs. bank-originated deals. Than, and an overall improved reputation/recognition of brokers as a whole.
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