Hiring the perfect loans consultant

There is no denying that the property market is booming at the moment.

Interest rates are low, which is helping to lure potential home buyers and investors into the market. With the market so hot, many mortgage brokers are finding themselves busier than ever.

As such, franchisees are looking for the perfect loan writer to help them grow their business and cater to the needs of their customers. 

When hiring the perfect loan writer, Mortgage Choice looks for five key things:

1. Lending experience:

The perfect loan writer will have at least 12 months lending experience – either in a branch or as a loan writer in another mortgage broking franchise. While this may sound like a relatively short period of time, in 12 months a loan writer will have seen and dealt with many different lending scenarios, which means they will be well placed to help customers with their mortgage and finance needs as soon as they come on board.

2. Local area knowledge:

A good loan writer knows their community and local area better than anyone else. So, the right loan writer should either live in the area, or have a good understanding of the local market. They should also have a general community appreciation and be happy and motivated to get involved in local activities – be it the Rotary Club, a local Business Networking group or the sporting club. Furthermore, when a loan writer has a good understanding of the local market, they can relate better with their customers, which helps foster strong relationships.

3. Networking skills:

The most successful loan writers are great networkers. They have the ability to sell themselves and their profession in any environment and any situation. When searching for the perfect loan writer, Mortgage Choice looks for professionals who can prove they have built strong referral relationships in the past. In this industry, it is often not “what you know”, but “who you know”, so a good loan writer will have a wide variety of contacts as well as the ability to put themselves out there and network successfully with other small businesses and local community members.

4. Passion:

Those who love what they do will always be successful. So, with that in mind, we look for loan writers who have a passion for their line of work – loan writers who love being able to help their customers achieve their financial goals and will go out of their way to make sure the customer and their needs always come first. The perfect loan writer is empathetic, a great listener and someone who truly cares about their customer and finding the right solution for them.

5. Culture fit:

Finally and (arguably) most importantly, when searching for the perfect loans consultant, it is important to find someone who is the right culture fit. Every franchise and/or company has a different culture and it is important to find someone who works well in that particular culture. At Mortgage Choice, we spend the time getting to know the individual culture of each franchise and then find the perfect person for the organisation. At the end of the day, a loan writer can have significant lending experience, local area knowledge and networking skills, but if they don't mesh well with the other people in the company, they aren't going to be successful in the role over the longer term.