Kakish’s top advice for brokers: “Number one, don’t chase commissions,” he told Mortgage Professional America. “Build systems. Everyone wants more production, but if you chase production you won’t get it and, even if you do, it’s a seedless watermelon. Yeah, you ate. But where does it go from there?
“I think most brokers will waste the first year trying to hustle to get every deal, talk to every realtor, and they’ll end up burning themselves out. Instead, they should be focusing on creating an excellent, responsible process that gets results consistently.”
That’s the best way to build a strong reputation in the industry, Kakish argued. Top of mind for his team is taking the approach of farmers rather than hunters – planting seeds with every deal, rather than moving in ruthlessly for the kill. “It’s just a clean-cut process,” he said.
“Realtors will tell other realtors about you, and you start snowballing from there. [Too many brokers] are trying to get business to work on a process, but that’s the first thing. Outwork everyone, but do it in a smart way.”
To boost their market share in the US, mortgage brokers should focus on community strength, branding, and client education. Hunter Bolling of Grow Mortgage emphasizes the value of staying positive and supporting each other.
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— Mortgage Professional America Magazine (@MPAMagazineUS) September 25, 2024
Social media an essential tool for brokers in growing business
It goes without saying that a strong presence and visibility on social media can also go a long way. As borrowers increasingly gravitate online for their mortgage experience, a solid digital reach can help snag business and place brokers front and center in the eyes of potential clients.