Who better to hear from on the subject of maximizing an agent’s potential than from Joseph White, president of industry trainer REMIC.
Like many commission-based sales industries, the mortgage brokerage industry suffers from high turnover. The challenge for brokerages has been, and will continue to be, to find those talented individuals who are independent but disciplined; who are motivated by income but also by service to others; who exhibit expertise in interpersonal as well as analytical skills, and provide them with a path to success. To address these seemingly contradictory skillsets successfully requires a solution that is itself versatile-while-structured.
Our industry offers an ocean’s worth of training on “doing a deal,” but only a lagoon’s worth on generating business. Of course, there are seminars designed to motivate, but how long does that motivation last? Building a life-long career takes more than a temporary jolt of adrenaline; it requires perseverance and dedication to one’s profession.
The amazing opportunity that our industry provides is that those with little or no background can, with a minor investment compared to other industries, obtain a licence to practice. A licence, however, doesn’t equal success. It equals an opportunity to achieve success. It’s an opportunity to build a better life.
Therefore, even though a brokerage can hire an individual with little or no experience, it should only do so when it is convinced that it can provide that person with a sound path to success.
It’s incumbent upon us as an industry to support those new agents in their quest for success. Their success contributes to the rising tide that lifts us all. But, success means different things to different people. Some consider a specific income to be the benchmark to which success is measured, while others view it as a particular quality of life. Others view it as a combination.
In my opinion, success is the result of properly screening new applicants and then providing them with support and rigorous sales and technical training. New agents need to have the tools necessary for success so they can focus on generating new business; anything else is a distraction that ultimately may lead to their failure.