With the boom the real estate market has been experiencing, especially over the last several years, it feels like every time I catch up with various colleagues in the mortgage industry, they all tell me the same thing, things are so busy, and they have never had to work at the pace they are now. Typically, folks justify it by saying things like, “I’d rather be busy than slow” or “It won’t be this good forever” or some variation of that line of thinking. As rates rise there seems to be even more pressure to work faster and be more available for clients to take advantage of as many opportunities as possible before the industry takes a turn.
However, there should be concern about working at a pace that is frankly not sustainable. Maintaining strong talent and avoiding burnout is a real challenge companies face if they are not careful. Also, it will be incredibly hard to attract new talent when the expectation is your life is your work. While the mortgage industry seems to be so incredibly good at accommodating their end clients, that comes with its cons. So, is it even possible to achieve a true work-life balance if you work in the mortgage industry, what steps can companies take to ensure their employees can have some sense of work-life balance in this demanding industry?
The Expectation of Around the Clock Availability
The mortgage industry and many jobs within the real estate industry are unique in that clients often expect their loan officers, agents or brokers to be accessible whenever they need them. Many originators are fielding calls and emails at all hours of the day and especially since the pandemic hit and people started working remotely, the existence of boundaries has all but disappeared.