Traits of Successful Mortgage Business Owners

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October 17, 2014 | By RGR Marketing Blog

Running a Mortgage Business? Here's Some Advice

You’ve probably heard the expression that most people don’t leave bad jobs or stressful work environments – the fact is that most people leave bad bosses. Given the personality traits that often along with people who rise to positions of leadership, this does make some sense.

Hiring qualified people, giving them the tools to succeed, making sure they’re happy and productive, and backing off to let them do their jobs may all sound pretty easy to do, but that’s not always the case. And the offices of many mortgage companies are certainly no exception. So if you run a mortgage business and have several employees whom you manage, how can you be a better boss?

Actually Be the Leader in Your Mortgage Business

What do all leaders have in common? They lead. Nothing more complicated than that, but still a very complex idea. If what you’re after in your employees is more dedication, then dedicate yourself ten-fold. If you want people at their desks by a certain hour, let the office know, and then show up earlier than that to get started. You want more community and less cutthroat competition? Foster that sense of community by bringing employees together in social environments, and spend time talking about the value of teamwork.

Whatever you want from them, you have to do it yourself first.

Know the Difference Between Good and Bad Stress

There’s a big difference between a leader who stresses out their employees, and one that creates stress by presenting employees with challenges designed to help them grow – often professionally and personally. If you’ve been the victim of a bullying boss, then you know how it feels to be stressed out every time you have to go in to the office. Further, you know what it does to your creativity, your motivation, and your confidence.

But having a boss who challenges you to be more productive than you thought you could be is an entirely different kind of stress. You might feel uncomfortable, but only because you’ve been nudged out of your comfort zone. Ultimately, when your employees are challenged to new levels and subsequently succeed, they will thank you for the extra bit of stress you provided, and the help you gave them. This is what great bosses do – they mentor as much as they manage.

Mix Things Up From Time to Time

Are you locked into a standardized training system with your mortgage brokers? Maybe one that you’ve used for several years? When is the last time you opted to mix things up, or to surprise your staff with a novel way of approaching the problems and challenges you tend to see in your business?

Stressing compliance doesn’t have to spell routine and complacency in the mortgage business. So why not consider a new approach, like cross-training a handful of your employees, in order to expose them to more of the business? You’ll be fostering empathy among your team members, and likely improving productivity at the same time. For example, encourage some of your employees to join in on the process of closing loans at the end of the month.

Every Employee Wants to Matter

Sure, you might be inclined to keep the office focused strictly on work, and to leave the personal at home. But you may be overlooking a very important idea – namely, that every one of your employees wants to feel like they matter. By engaging your staff and talking with them about their interests, passions, and their goals, you’ll have greater awareness of why problems arise when they do. And you’ll have greater insight into how to keep them motivated and happy, which cultivates productivity and loyalty.

In the Mortgage Business, Stories Are Powerful

It should be more than obvious to you if you’re in the mortgage business, that the foundation of what you do involves helping people to realize their dream of homeownership. And the whole process of buying a home involves a ton of optimism – and not just for the home buyer, who may be making an investment, or providing a safe and prosperous environment for their families. The optimism should be coming from you, as well.

So what are you doing to cultivate optimistic employees, who will (in turn) maintain the optimism and happiness of their clients? Are you focusing on foreclosures day in and day out, or celebrating the wins that come through the office? Do you spend time with your employees, sharing the success stories that you all work hard to come by?

Focus on the important parts of the story that you have to tell your clients – when it’s the right time to buy a home, how mortgage rates are at all-time lows, and how owning a home can lead to building wealth – and your business will continue to grow.

[Photo Credit: RealEstate-AOL]

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Running a Mortgage Business? Here's Some Advice

Actually Be the Leader in Your Mortgage Business

Know the Difference Between Good and Bad Stress

Mix Things Up From Time to Time

Every Employee Wants to Matter

In the Mortgage Business, Stories Are Powerful

Start making more
money today!

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Running a Mortgage Business? Here's Some Advice

Actually Be the Leader in Your Mortgage Business

Know the Difference Between Good and Bad Stress

Mix Things Up From Time to Time

Every Employee Wants to Matter

In the Mortgage Business, Stories Are Powerful

Start making more money today!

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