The change might seem odd to people around here, but I’ve been thinking about this for a while now. I miss the client interaction part of my previous jobs. BTW, I know the market is soft now (a bit better up here tho than in the US), but I’d be in for the long run so I don’t really care about the starting salary point. Any suggestions?
Honestly, if you’re any good, I highly recommend it. You can do a quick search of the forum and see where I posted about this. One of my closest friends has been a mortgage broker since he was 19 (he’s 24 currently) and has made over 100k each year. He averages probably 150k and works, I don’t know, 35 hours per week. But he’s hispanic and speaks fluent Spanish–I’d recommend you get a niche, too.
Alayle Wrote: ------------------------------------------------------- > The change might seem odd to people around here, > but I’ve been thinking about this for a while now. > I miss the client interaction part of my previous > jobs. > > BTW, I know the market is soft now (a bit better > up here tho than in the US), but I’d be in for the > long run so I don’t really care about the starting > salary point. > > Any suggestions? If you’re good at sales you can make a tremendous amount of money as a broker, the work life balance should be a bit better as well.
What exactly does a mortgage broker do? If somebody wants to buy a house, they do so thru a real estate agent…where does the mortgage broker fit in - who does he market to? The guy buying the home directly, or does he work though the realtor? And what does a broker really “do”?
luke77 Wrote: ------------------------------------------------------- > What exactly does a mortgage broker do? If > somebody wants to buy a house, they do so thru a > real estate agent…where does the mortgage broker > fit in - who does he market to? The guy buying the > home directly, or does he work though the realtor? > And what does a broker really “do”? They lie and use bank loopholes to get clients mortgages they dont deserve, they are the reason that a shitty housing development in Markham, Ont supposedly has average income per resident of $1 million when they are crap attached townhouses. They just claim them to be sole proprietors and then use bank policy failures to avoid verification and give out mortgages…gooooood times.
An acquaintance of mine left the investment world to be the finance manager at a new car dealership. It’s not a glamorous job and the hours aren’t ideal, but he consistently makes well over $100k. Not bad for a job that isn’t all that hard.
Yep. Buddy of mine is a finance manager at dealership 3 years out of undergrad, and pulling in 125-150k a year easy. Simply negotiates interest rates for loans to car buyers with banks, charges the car buyer a higher interest rate then what the bank approves and keeps the difference. Then sells warranties on top of that.
Two years ago, morons and people with no network could make a boatload. It’s now survival of the fittest, with the best people still making a lot less. Doesn’t seem to be a fortuitous time to make the switch.