These are just a few words that may describe how you feel when you’re starting your career in the mortgage industry. You likely don’t know many people in the office, you aren’t sure how friendly or professional you should be, and you don’t know the processes for getting things done.
That being said, there are several ways to ensure you hit the ground running when you start out your promising career in the industry. Brendan Beatty, YMPA founding board member and Loan Originator at Homestead Mortgage, shared his thoughts and tips on getting started.
1. Be Excited
With the average age of a Loan Officer being 54 and a Realtor 59, a space is created for the next generation to refuel the mortgage industry. This sustainable industry is alive and well with a need for new and fresh talent.
“My main sense getting started as a Loan Originator was excitement. There is so much to absorb, and the opportunity in the industry is so expansive that I was excited to get started,” Beatty said.
When you start anything new, expect challenges. If you think about challenges as an opportunity to help you grow, instead of seeing them as a roadblock, it will help you in the long run.
“There have been a few moments along the way that seemed really tough at the time,” Beatty added. “Working for that first transaction and paycheck certainly was a bit stressful, and occasionally, I felt I had more on my plate than I could handle. However, those challenges can be met, and can set up a great foundation for what needs to be done to keep growing further.”
2. Be Involved
From adjustable rates, amortization, LTV ratios and more, there is much to learn in this industry. It’s easy to feel like you don’t have much to offer in meetings and around the office when you’re first starting out.
“Listen and ask questions about things you don't understand. Ask to shadow others and sit in on conversations. There is so much to learn and absorb, and I've found most people, even competitors, are willing to share an insight or two if you ask for help,” Beatty said.
Even if you feel like you don’t have much knowledge in the industry, you can still find ways to contribute and add value to your workplace.
“EVERYONE has something they can share with the rest. While your industry knowledge may not be advanced from the get-go, there are many other things to share in the workplace that can be of help. Besides the obvious technology advantages many young people have, you can be diligent about staying current with news and changes in the industry, and be a source for others in a variety of ways,” Beatty added.
3. Begin Now!
Don’t go into your job and simply coast! Make it a priority to get outside of your comfort zone. Instead of waiting for others to reach out to you, you can make the first move. See how much you can do to better educate and equip yourself each day.
“Working for a Mortgage Broker, I have been very fortunate to have met many, many people from all walks of life in this business. Underwriters have been great in helping me get a better understanding of various guidelines. Account Reps have had great tips on growing my business. Through YMPA, I've met some other great young professionals in this industry. There is an amazing network of experience and resources out there. Tap into it early and often,” Beatty said.
The direction your career goes is up to you. Be excited about the opportunities you have, be curious and ask lots of questions, and get connected with people and groups that will help fuel and feed your desire to know more about this industry.
To find a YMPA chapter near you, click here and see how you can get involved today!