When you’re starting out as a mortgage broker, it’s completely normal to feel like you have a few things you’ll need to figure out.
This is where a mentor can come in handy.
Why you need a mortgage broker mentor
Mortgage broker mentoring isn’t just about one person helping another person out. The purpose of the mentoring journey is to create a rewarding experience for everyone.
If your priority is to move forward professionally and give your career a leg-up, finding the right mentor is one of the best experiences a new-to-industry broker could have.
A working relationship that’ll help you bring your a-game
Your mentor will be a mortgage broker who has experienced their fair share of our industry.
You’ll hit the ground running having someone available to give you guidance and knowledge of what it means to be a broker.
What is a good mortgage broker mentor? They’ll help you prepare for the challenges that come with starting a new business. They leverage their own experiences to help set you up for success, and you can avoid repeating some of their mistakes!
Some tips to get the most out of your mentor
- Be inquisitive and ask questions;
- Be clear about what you want to learn from your mentor, so that you have a clear direction;
- Set a schedule for regular catchups, based on the amount of time that you can both devote to the relationship;
- Be open to having difficult conversations. When you’re new, you’re more likely than not to make mistakes – and that is okay. It’s all part of the learning process. You’ll be able to develop a more authentic relationship if you can admit your failings and receive solid advice or feedback from your mentor on what you can do to improve.
The mentorship experience
My mentor was Ruan Burger from Time Home Loans, one of the top 25 highest performing small offices in the country, and at the time I didn’t realise how lucky I was to have such a great mentor. It shaped me a lot, and I was able to learn key processes back to front.
Starting with solid advice really helps you to build a picture of ways of working that you do and don’t like. You get a good understanding of the volume of work you should expect, and you’ll also learn how to work under pressure, which will hold you in good stead.
– Hamish Warren, The Wealth Growers
Download our information pack to read more about the support you’ll receive when you partner with AFG.
AFG’s SMART program is designed for brokers who want to see their business soar. It’s the marketing engine that propels your business forward by helping you attract customers and grow your business.
What makes a good mortgage broker mentor?
To use a well-worn cliché, your preferred mentor should be someone that can ‘talk the talk because they’ve walked the walk.’
In this industry, there’s no room for positive affirmations that are not underpinned by credibility. You need a mentor who has lived and breathed the industry, they’ve won all the medals, and everything that comes out of their mouth is tried and tested. Rah-rah motivation only gets you so far.
New brokers need to focus on building up good habits and consistency. So, someone with a good track record, with decades of experience is a good place to start.
Not everybody is going to get along with everybody – that is just a fact of life. It’s important to shop around and interview a few different people to see if you get along. Having similar interests outside of work is always a good start!
Remember you can always look outside of the industry and find a mentor in another related industry, such as in real estate for example. They can still help you build the knowledge and in some cases have the software to help you.
– Joshua De Buelle, FiNEXT
What mentorship support does AFG offer?
If you have less than two years’ experience in face-to-face lending, you’re going to be required to have an industry mentor for the first two years of your career.
When you become a broker with AFG, our team will be happy to provide you with some names of mentors who are approved by our organisation. They will be there to help you as you embark on your exciting new journey within our industry.
How an AFG mentor will help you to set yourself up for success
If you partner with AFG, we can tee you up with some of our preferred mentors, who can help you with the following tasks:
- Ensuring that you are comfortable conducting a client interview unassisted and to a satisfactory standard. This will include completing your loan/finance application form and carrying out stamp duty and LMI calculations;
- Signing off on your vetted applications;
- Helping you to maintain a diary or log of all your relevant loan or finance writing activities that you undertake during your first two years as a broker;
- Checking that you have achieved your required level of Continuous Professional Development (CPD) points.
Pick an aggregator with mentors to help guide you
Now that you’ve heard from the horse’s mouth how a mentor could be your guiding light, it’s time to consider the aggregator you’re going to choose. One who’ll add real value to your journey. If you’re interested in partnering with AFG, then contact us for more information about mentorship opportunities available for new brokers.
