In my last article, I discussed the hiring process with respect to matching loan officers to the different types of origination situations. It is clear that someone who grew up within the industry as an independent mortgage broker is not as likely to fit in the chair of a big national bank. At this juncture, we will continue this discussion as we segue to a particular type of origination — working within a real estate office.
As I mentioned previously, working inside a real estate office has been a big part of my career within the industry. I started as an originator with a real estate-owned firm, became the head of production for that company, and went on to direct a sales force for a larger regional real estate company at two separate times, almost two decades apart.
During my career, I have also been the head of sales and regional director of street and bank origination sales forces. This means I have witnessed the differences in these environments and especially what it will take to succeed in one versus another. I did not know it at the time because I was a rookie, but the fact that I closed 600 loans (98% purchase) in my first 18 months of originating within the industry could only have happened from within a real estate office.