Broker/Owners explain why they’re hiring from within.
By Deborah Kearns
A growing number of Motto Mortgage brokerage owners are finding the best loan originator candidates somewhere unexpected: their existing real estate offices.
Take, for instance, Freddy Rodriguez, who opened Motto Mortgage Plus in Houston last summer. He raves about a loan originator he brought on board – an agent from his RE/MAX Inner Loop office.
“He saw the opportunity and growth potential, and now he’s thriving,” Rodriguez says. The loan originator, who had been an agent for about two years, really “hit the ground running” in the new role, according to Rodriguez.
When the agent-turned-loan-originator began closing loans early on, Rodriguez wasn’t surprised.
“He’s a go-getter. I recruit agents with the right attitude, drive and work ethic – and those traits serve you well on the lending side too,” Rodriguez says. “You can teach someone the skills to become a loan originator, but you can’t teach drive, ambition and motivation; you either have those or you don’t. And he has them all.”
Cindy Appleman, Owner of Motto Mortgage Edge and RE/MAX Edge in Muncy, Pennsylvania, also found an ideal candidate close to home.
After earning her mortgage broker license, Appleman approached a longtime agent who had been seeking a change of pace. The proposal: move over to mortgages.
“It’s been a home run,” Appleman says. “She bought into the Motto Mortgage concept just like she bought into RE/MAX, in part because everything is right there for us – from training to support to a solid business model.”
The leap from real estate to housing finance isn’t as tough as some might think, Appleman says. That’s especially true with Motto Mortgage. Motto Mortgage offices have access to straightforward loan products, extensive training, licensing support and out-of-the-box resources, she adds.
But brokers should be selective, Appleman advises.
“This opportunity is best for agents who have experience, a strong reputation and a solid understanding of mortgage financing,” she says. “If they want a change, this can be a great career move. It can be attractive.”
One reason agents make good loan originators: They understand the pain of the financing process.
“Agents see the difficult issues – problems that delay closings or cause transactions to fall apart,” Appleman says. “And they know how to avoid them.”