Hard economic times are long gone. Subprime crisis did shake up the mortgage industry in many developed nations around the globe but it also managed to recuperate at a much faster pace than most people could have possibly imagined. Listed below are the 7 reasons to choose a mortgage broking career that not only dispel some popular myths but also shed light on benefits usually unheard of:
1. You’ve a Reason to Work Hard
As a mortgage broker, whether you work independently or with a firm, your one and only goal would be to close maximum number of loan deals and help your clients in all ways possible. Since your monthly income is not fixed, you can spend as much time and energy on finding and serving clients. Unlike salaried employees, your growth prospects completely under your control.
2. You’ve a Flexible Work Schedule
Once you jump on the mortgage broker career bandwagon, you’ve the liberty to plan your own work-schedule. There’s no boss watching over you or dictating his personal agendas. Being in control means that you can work hard, take vacations, spend time with family members or pursue a hobby at any time you want!
3. Home Ownership is growing
Post 2008 economic slowdown, homeownership rates have once again reached a healthy figure, thus implying the availability of enough business once you do the needful to succeed in a mortgage broker career. Increasing immigrant population and recovering economy are two factors primarily responsible for increased home ownership rate in Australia.
4. Mortgage Industry is Expanding
Recent housing surveys indicate that the mortgage industry is set to grow at a steady pace this decade. An increasingly large number of people are now beginning to understand why they should work with professional mortgage brokers instead of working directly with lending institutions.
5. Large Number of Homeowners Are Now Refinancing
The subprime crisis followed by a series of damage control measures taken by regulatory bodies, lending institutions and other associations of national and international repute have lead to a dramatic decrease in mortgage rates and increase in property prices. It’s a welcome sign for anyone planning on choosing mortgage broker career as a large number of people are now refinancing residential and commercial properties. Still many others are opting for reverse mortgages now.
6. E-smart Buyers want More Options
Gone are the days when a buyer just walked into a bank and chose a mortgage on the same day. People are now e-smart and they understand the benefit of having a seasoned professional by their side. In other words, the need for smart mortgage brokers is rising with each passing week.
7. Do Good, Have Good
Successful mortgage brokers command great respect in the society as they’ve helped hundreds of people in realizing their lifelong dreams of owning a house, plot or piece of land. The mortgage broker career permits you to make money by helping people to make the right decision!