There are generally 3 major reasons why Mortgage Brokers Fail
Firstly – New Entrants are not given the correct mentoring.
Some mentors offer mentoring at no charge. Well as the old saying goes “Pay Nothing – You get Nothing.” We have found that many new mentees come to us after trying this no pay system and unfortunately it does not work. The Mrmentor program engages a professional team who are there to teach, support and navigate new mentees through the complex lending process.
Secondly – New Entrants do not commit the time and effort to Mortgage Broking that is required.
Becoming a Mortgage Broker is like starting a brand-new business. As we all know the statistics on starting a new business are quite staggering – At least 4 in 10 will fail in the first 2 years – Mortgage Broking is no different. – You need to be given the correct knowledge, skills and tools to begin any business and the Mrmentor program delivers this. Yes, you are paying for this program but without these skillsets and resources we are sure you will be one of these failure statistics.
Thirdly – New Entrants are under the impression that you can get up and running in no time.
That you can actually start to earn an income when you sign up. This is a total fallacy and one that all mentees or new entrants need to understand. The facts are that it takes you at least 6 months before you will receive a $1 return on your investment. To become an accredited Mortgage Broker is a process and one if you are going to enter this industry you need to understand the process.