5 Personality Traits Shared by Successful Mortgage Consultants
If you asked the average joe what a successful mortgage broker looks like, chances are they’d name things related to physical appearances like nice haircuts and clothes. But what about personality traits?
Research shows that personality traits have a massive effect on the way a person’s career unfolds. Some studies show that being emotionally stable is vital if you want to earn a high income, while others argue that too much openness erodes career success.
Ultimately, the link between personality traits and career success depends on the job being discussed. Today, we’re discussing mortgage lender services—so here’s a look at five common personality traits shared by successful mortgage consultants.
1. Diligence
Have you ever noticed how much work it takes to become a successful mortgage broker? Mortgage consultants put in consistent effort from the moment they begin studying for the Nationwide Mortgage Licensing System (NMLS) test. In other words, becoming a great mortgage lender is extremely difficult if you’re not diligent about your studies. But if you think the effort stops when the mortgage broker gets their origination license, think again!
The best mortgage consultants remain diligent throughout their careers. In other words, they work as persistently for their clients as they did when they studied to obtain their license. They don’t skim over important documents like credit reports or fill in forms without doing thorough background checks. This approach allows them to remain credible in the eyes of regulatory bodies.
2. Empathy
Imagine meeting an extremely diligent mortgage lender who isn’t interested in empathizing with your circumstances. Would you be impressed? Probably not!
Diligence ensures that mortgage consultants put in the effort required to make rationally sound decisions. However, successful mortgage brokers know that taking a purely rational approach to mortgage lending alienates customers. They understand that most people applying for mortgages simply want a helping hand in purchasing real estate. In other words, they’re looking for mortgage consultants who can relate to their circumstances and understand their feelings—not just someone who works hard!
3. Observation
Did you know successful mortgage consultants are extremely observant? They’re capable of noticing various tells that indicate whether a borrower is likely to adhere to their mortgage terms. This helps them decide whether to accept a mortgage application as effectively as possible. It also enables them to be more empathetic because they notice visual cues that indicate how their clients feel.
Observation also helps mortgage consultants conduct background checks effectively. The best mortgage lenders are sharp enough to notice things like fraudulent documents which they’re required to submit to the government’s financial crimes branch.
For instance, suppose you’re a mortgage lender and someone walks into your office asking for a loan. According to their bank statement, they deposit $500 into their account on the second weekend of every month, and there’s a $250 monthly debit. They don’t have a W2 form, and they’re dressed in brand-new clothes. What do you do?
An observant mortgage consultant will immediately realize that this person is most likely a freelancer because they don’t have a W2 form. They’ll also notice that half the person’s monthly income goes toward paying off debt—which means their DTI is 50%. Lastly, they’ll surmise that the person probably likes spending a lot because they’re wearing new clothes.
The mortgage broker will subsequently use these observations to offer the person mortgage terms that protect the company from risk.
4. Patience
If we asked you to run background checks and analyze documents for numerous people in a single day, chances are you’d lose patience after a while! It’s hard for the average person to remain patient for a lengthy period without growing less diligent. Yet that’s what successful mortgage lenders are required to do!
Successful mortgage consultants understand that impatience costs mortgage companies dearly. For example, suppose you’re a mortgage broker and you’ve got an hour before the business closes. You have several mortgage pre-qualification checks to complete, but your partner rings and asks you to sign off early from work. What do you do?
If you’re impatient, you’ll rush the checks and risk qualifying candidates that are likely to default on their mortgage payments. On the other hand, if you’re patient, you’ll explain your workload to your partner and run the checks diligently to ensure you remain successful!
5. Frankness
Have you ever had to be frank when delivering bad news to someone? It’s not easy! Unfortunately, it’s hard for the average joe to be polite and frank about bad news at the same time. Yet that’s a skill all successful mortgage consultants acquire at some stage.
Successful mortgage lenders know how to make rational decisions without getting emotionally invested in their clients. In other words, they’re capable of being empathetic but only accept or reject mortgage applications based on facts. This allows them to be frank with their clients without offending them—because all their decisions are based on objective truths.
If you’re looking for a licensed mortgage lender with all the traits we’ve mentioned above, you’ll love speaking to our team at Atlantic Home Capital!
We only hire highly experienced mortgage consultants with a great track record and specialize in everything from Mixed-Use Financing Ft Lauderdale to Investment Property Loans Ft Lauderdale. We also provide refinancing services to help our clients obtain the best terms possible on their mortgage loans.
Ready to hire a diligent, observant, and patient mortgage broker Farmingville who knows how to balance empathy and frankness? If so, drop us a message today!
