Business advice for a start up mortgage broker

In Canada, people interested in buying a home, taking a second mortgage on their existing house or taking out equity have two options when it comes to the loan source, a bank or a licensed mortgage broker. Since banks have imposed more and more restrictive terms and conditions as far as home mortgage loans are concerned, many people turned their attention towards mortgage brokers, which translated into a great opportunity for many businesses in the field, as well as for many individuals interested in developing a career as mortgage brokers. However, the economic and business fields are quite harsh for a fresh mortgage broker in Gatineau, as starting up as one requires making your way through already established companies and brokers. However, due to its close location to the nation’s capital, Gatineau offers great real estate opportunities and many people are interested in buying a home or a property there, not to mention that many developers are also interested in the city.

Business advice for a start up mortgage broker in Gatineau

First of all, if you want to make it as a mortgage broker in Gatineau, you need to know your field. After you’ve taken your license and you’ve decided to operate your business in this city, make sure you know everything there is to know about Gatineau. Of course, you can’t make it on your own from the very beginning, working as a freelance broker, so you need to associate with a mortgage company. Choose carefully, as you can use the name and reputation of the company, to make your way up. Also, you need to make yourself stand out of the crowd of other brokers working for the company, even if they are working in this field for many years. As said, the first thing you should do is learn the city by heart. Many brokers with vast experience in the field have done this job for so many years that they only focus on the properties, on selling the house and not the surroundings. However, many people, especially families are interested in the neighbourhood and even the entire city as much as they are interested in the house itself. They want good schools for their kids, but also tennis courts, good gyms, spas, traffic information and a million other things that may make their lives easier and more comfortable there and you need to give them detailed info about all of these aspects.

 

Obviously, in order to become a successful mortgage broker in Gatineau, you need to have clients and not just a couple of clients, but a solid, rich portfolio. As a start up broker, you will have to run after clients at first, try to convince them of your skills and what you have to offer, many will play the experience card, but you have to have a strategy in order to combat your lack of experience. You can do that by offering them personalised services, marketing your services as being highly customised in order to meet different needs and by promoting a personalised approach that is based on individual focus.