Getting started as a Mortgage Broker

2 Replies

I've been investing on the side for a few years and decided it would help to get a job in Real Estate. And last week I got my license to be Mortgage Loan Officer (in Tennessee) My question is how do I find a good Brokerage to work at? What are the things I should look out for and what are some tips on how to noticed, so far the only response to my resume is a position as a "remote broker" but I don't know if that's a good way to start Thanks for any advice or good stories!

@Simeon Pennisi

Hi Simeon,

Try checking

You’ll want to screen potential employers based on a model that works best for you.

Some brokers/ mortgage shops require you work full-time and will compensate you as such and offer a base salary, commission and benefits, however they'll require you work the leads they provide.

Others, which sounds like you’d be more geared for would, be an outside Loan officer role where you aren’t given a base salary, however you are compensated based on the deals you source yourself. Given your limited experience you’d want to have that conversation upfront as there are many moving parts of the mortgage process you wouldn’t want to bring in a client without being able to

Provide them with a full understanding of what to expect.

I hope that helps.