Building your own team requires learning new skills
BY MICHAEL COOKSEY | bio
Originally Published in Scotsman Guide Residential Edition | August 2017
Despite predictions of an overall decline in volume this year, the outlook for the mortgage industry is still positive. In its May 2017 Economic Developments report, Fannie Mae’s Economic & Strategic Research Group revised its previous 2017 purchase originations forecast upward to reflect stronger-than-expected home sales and overall industry momentum.
With the overall mood trending positive, it’s natural that loan originators’ thoughts should turn to career advancement. For many originators, the ultimate career goal is to one day run their own team, which is unsurprising. After all, it is far more profitable to manage your own production than someone else’s.
There is more that goes into launching and managing a successful team than simply having a talent for producing, however. Without a proper foundation and mentoring, many originators will fail to set themselves up for success once they are ready to branch out on their own.