Initially entering the mortgage space 12 years ago by dint of his sales ability, Rudy Renelique, managing director of Aurum and Sharpe, has some valuable words of encouragement for those who are looking to succeed in the industry.
“The number-one takeaway for me was there is no labour without profit,” Renelique said. “I realized that this business can be very lucrative, and it takes a lot of hard work, but when you find a niche that tailors to your particular skills, while also sparking your passions, you can achieve what you did not think was possible.”
Having proven its resilience even amidst global crises, the real estate industry’s allure to those looking to make it big is undeniable.
“I entered the business in 2008 when a friend suggested I try it because he knew I had sales skills,” Renelique said. “I began working for his company and learned the ropes there. I expected to make a lot of money and live like the characters on shows like House of Lies and Billions.”
However, it was not a smooth, well-paved road to the big leagues.
“The most challenging period had to be when I began truly working on my own with my partner,” Renelique said. “I found that it was not difficult to obtain business, but what business to choose to focus on. An easy trap to fall into for any broker is to simply follow the money. I learned the hard way that what makes a good deal is not the size of the commission but its likelihood of going to completion.”
Renelique’s well-rounded experience also owes itself to “a series of private mortgage banks, such as Financial Equities, and Continental Home Loans. I also spent time at JP Morgan Chase, and Wells Fargo.”
While persistence will fuel a broker’s ascent to success, Renelique cited customer service and organization as the most important ingredients.
“I have a degree in psychology, which gave me a base level of understanding of the human psyche while teaching me the importance of research and analysis,” Renelique said. “I have read and continue to read books on understanding the human condition. To stay organized, I employ certain regimented routines that have proven to be very effective.”