Show Notes
This is a repost of an episode I think is worth revisiting because there is more than one way to build a successful mortgage business.In this episode, I break down the five paths I see brokers take, the advantages and weaknesses of each, and which one I think is the most sustainable long term.The goal is to help you understand the path you are on, what skills you already have, and what you still need to develop.In this episode, I cover:
The 5 Paths Into Mortgage Brokering - The different ways successful brokers tend to enter and grow in the business. What Your Background Gives You - Why each path comes with its own built-in advantages. The Skill Gaps That Hold Brokers Back - Where people tend to struggle depending on how they entered the industry. The Most Difficult Path to Make Work - Why one route requires a very different skill set and more resources. The Path I Think Is Best for Most Brokers - The model I believe gives you the strongest long-term foundation.
Know which path you are on and be honest about the skill gaps that come with it. Then focus on developing the missing skill instead of trying to copy someone else’s business model.— We’re bringing BrokerTalks back to Vancouver, Toronto, and Calgary this fall. If you want to learn from brokers and operators who are actually doing the work, check out https://brokertalks.com/. EARLY BIRD PROMOUse BT-early26 for $50 OFFUntil Sept. 1 only —Follow me on Instagram: www.instagram.com/scottpeckford/I Love Mortgage Brokering: www.ilovemortgagebrokering.comFind out more about BRX Mortgage: www.whybrx.com Subscribe to my email list, Peckford's PlaybookJoin the Mortgage Mindset DailyGamify your prospecting with the 10@10 AppI Love Mortgage Brokering is in partnership with Ownwell.To see how top brokers are keeping clients engaged and generating leads from their database, visit ownwell.ca/scott.
More from I Love Mortgage Brokering
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David Grossman has been in the mortgage business for 23 years and has tried a lot of different ways to market himself along the way.One of the things he is doing now is a local podcast recorded inside a coffee shop, where he brings on professionals from his community and turns those conversations into content and referral relationships.In this episode, we talk about how he records the show, the simple tech behind it, why he thinks podcasting can be such a good relationship-building tool, and what he learned from an earlier side project that took him too far away from his core business.We also get into hiring help after more than two decades of doing everything himself, alternative lending, and why giving the client the right advice matters more than winning every deal.In this episode, we cover:
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I’m back with Episode 2 of What’s Your Move?This time, a broker has been in the business for more than a decade, does about $25 to $30 million a year, and recently hired his first assistant. She is great, but somehow the business feels messier than before.They are stepping on each other, replying to the same emails, and creating confusion. The bigger issue is that he wants to double his business next year.So what would you do: add new technology, fix the process, or is the real problem somewhere else?In this episode, I cover:
Denise Donoghue has consistently closed over $100 million a year in personal mortgage production.What stood out to me in this conversation is that her strategy is not complicated.She prospects every day, tracks the right numbers, pays attention to partner conversion, and has a very clear process for building relationships with real estate agents.We also get into why most brokers are doing too much random activity, how to prospect without coming across needy, and why the data usually tells you exactly where your business is breaking down.In this episode, we talk about: