A slow job market can provide the perfect opportunity to make that career change you have been considering for some time. If you are one of the many that were in the regrettable position of being made redundant during lockdown, now might be the time to move into a more risky but rewarding industry. I have seen great activity levels in the mortgage lending market, by both clients and candidates, since we re-entered level 2. Although it’s brilliant to see and I am a massive advocate of this amazing industry, I have found myself in a recurring conversation that I feel raises a straightforward question: Have you done your research? On a near hourly basis I am explaining to a candidate what it actually means to be a broker, the qualifications needed and what is expected of you. I have therefore put together a list of things I think a candidate should consider before applying for roles and, more importantly, before interviewing with employers.
- What the legal requirements are before you can give advice?
- What qualifications/studies do you need to complete?
- The costs of entry to the industry, including studies, licensing, insurance, etc.
- How to get accredited?
- Where your clients will come from?
- The salary and/or commission structure.
- Whether to join a team or go it alone, and the benefits of each.
- Where you will work from and meet clients?
- The hours and commitment needed to succeed.
- Industry changes that are upcoming, such as the FAP license.
- What you want from a role?
I am purposefully not including answers or many clues on the above; this will hopefully spur on the serious and help them on their way. I spent the entirety of lockdown reading and watching whatever I could find about the industry; the deeper I got the more I enjoyed it. Hopefully, this list will save you some time and give you a few ideas on where to start your reading. I am always keen to speak with great candidates, ideally with sales or lending experience, that want to take their career in a new and exciting direction. If you are genuinely interested in the industry and simply need help to get started, please reach out to me.
In a city where the housing market is so strong and money is cheap to borrow, SERIOUS EARNINGS ARE THERE FOR THE SERIOUS CANDIDATE.
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Blog post by Adam Witherick | Financial Services Specialist
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