Last month, we talked about paying it forward outside your business. This month, I want to dive into more ways to pay it forward within the industry. I’m looking at you, all you seasoned professionals. Let’s talk about important ways you can use your experience and expertise to give back to your company and to our industry.
Reasons to Mentor
There are so many young professionals who have entered the business lately. The average age of loan officers has dropped from 54–59 (2014 per CCowan & Associates recruiting firm) to 47 years old (2019 per STRATMOR data), but new loan officers (LOs) join the industry every day. Before you begin to retire, share all your insights so others can benefit from it and carry on the good work you’ve been doing for years. Ultimately, it’s important to give back to the industry that has given to you.
I recently hosted a loan officer bootcamp where no one in the room had been in the industry for more than two years. These new professionals are excited about the opportunities in the industry and most of them are eager to learn more and grow in their careers. With so much fresh talent comes a host of opportunities to impart the wisdom you’ve gained over the years onto someone new.