Hiring Season in the Real Estate and Mortgage Business is the time of the year when the business slows down for the holidays. It is also a time for Realtors and Mortgage professionals to reflect on the current year’s production numbers. It is also a time to reflect on personal business plans and trying to figure out how to get more business going into the new year. For a Realtor it is setting goals for the next year to hit the Masters Club or an income level that is higher than this year’s income. For Mortgage professionals it is always about closing more but figuring out just how to get that done assuming the market conditions stay stable. This time of year is a time to reflect and make plans now that will go into next year and the future of your career. This industry is commission based so we are never really feeling comfortable with our income situation and are always looking for some stability. What if there was a way to help mitigate the commission short falls in your personal production would you jump on it?
As a good salesperson you always want to pose questions to your clients where they are nodding yes as that keeps their attention positive then you can lead them to the outcome you want. If you didn’t recognize that as a sales trick you need the training and coaching that we provide and you need to read no further and just click here and start the process to become employed with MAE Capital Real Estate and Loan. I state it that way as you have to know the tricks of the trade if you are going to be successful in this industry and asking for the business is the first rule of sales. This is just one of many techniques we teach and coach you to do at MAE Capital Real Estate and Loan. We have created a training program that is second to none for Loan Officers and Realtors to learn the details of this business from how to talk with your clients to how to find the best loan product for your client.
Back to the question at hand and that is how to make commission when you are not closing a transaction? The way we have addressed this is cutting edge in the Mortgage Industry but has been done in the Real Estate Industry before and that is team building. Team building is the concept where you recruit others to either come and be on your team or show them this concept so they can build their own teams under themselves and thus you get paid for your team’s production. You may have heard of the EXP way of doing this in Real Estate but what is new is adding the mortgage component. As a holder of a Real Estate License and an NMLS license you can do and get paid on both Real Estate Transactions and Loan Transactions legally.
So, you can keep an income flow even when your personal production is slow by having well trained and aggressive team members. At MAE Capital we have designed a system to where you will get paid from team member’s production when they close a transaction. You would also get paid on your team members member’s production. We call this our Multi-Level Team Leadership Program and you can click on this link and learn more, it works by recruiting Realtors and Loan Officers and getting paid from their production. For each team member you will receive 5% of the total commission earned on their transaction closed even if you did not assist in the transaction. Furthermore, you will receive 5% from their team members. Now you see how you can make money when you are not closing transactions in this business. The top producing Realtors, in town, are utilizing this system but only with Real Estate transactions our system carries over to the Loan officers as well. So if you are a top producing Realtor and you are under one of these systems currently and you are not reaping the rewards from the loans you are referring out currently take a look at this and be one of the first top tier leaders. Imagine if you have Loan Officers on your team and you got a piece of that production. Yes, you would also get a piece of all their refinance business too. The only catch is that you must get your NMLS license to get paid. If you are an MLO and you already have both your DRE license and your NMLS you could hire Realtors under you and get a piece of their production. This income sharing concept can keep everyone happy in a changing economy.
If you are a Loan Officer or Realtor looking for a better opportunity in 2020 look no further with our coaching, training and mentoring program you are not alone. With over 30 years in the industry we can keep you focused on your goals and provide the tools to get the job done. If you have closed one transaction in this industry you learned the complexities of being compliant and gathering the documents needed to close your transaction. We teach you how to interact with adversities and how to close transactions smoothly and efficiently.
Have you ever wondered what it takes to become a Real Estate Agent or a Loan Officer in California? First, you have to ask yourself what exactly you want to offer your clients once you have the appropriate licensing. You might just want to sell Real Estate which will only require you to have a California Bureau of Real Estate License. If you just want to be a Loan Officer you would have to take and pass the National Mortgage Licensing System (NMLS) test for both State and Federal. This is where it becomes confusing for new licensees with the NMLS license. If you just have the NMLS license and not a Real Estate License you can only work for a Mortgage Company that is regulated by California Department of Business Oversight (DBO) or a Bank. If you hold both a Real Estate License and an NMLS license you can go to work for a Mortgage Broker that is regulated by the BRE and you can practice both Real Estate and Loans. If you want to offer your clients a one stop approach where you can offer both the Real Estate Services as well as Loan services you want to hold both licenses and work for a company that has the appropriate licensing under the BRE, like MAE Capital Real Estate and Loan.
So, once you have decided that you want to get your Real Estate License where do you go to get your licensing prerequisite courses. The Bureau will require that you take an approved Real Estate Principles course, and Real Estate Practice then you can choose from a specialty course such as: Appraisal, Property management, Finance, Economics, Legal aspects, Accounting, etc. for more information on the specifics click here to go to the BRE license requirements page. If you have 4 year degree you may be exempt from taking all or some of the courses and you can go right to the Broker’s test if you wish as opposed to getting the Sales Person license first then wait the 2 years to get the necessary experience to take the Broker Exam. Now if you have not taken the college courses and need to take the prerequisite courses you can find approved Real Estate Schools online and they will generally walk you through exactly what you need to have to take the test and get your license. The school I recommend to my people is a school called First Tuesday they will look at what education you have already and let you know what you need to take to get the license, they also provide test preparation courses which I would strongly recommend. Once you have taken the online courses you need you can then apply to take the Real Estate Exam from the BRE. You can go to the BRE site to follow their instructions as you will need to be finger printed, and not have been convicted of a felony and pay the necessary fees and for sites where the Exam is held. Click here to see the detailed steps you need to take to get to the Exam. Then take the Exam when you are ready, it will require you to study hard as it is not easy if you are not prepared. Once you pass the exam you will be notified by the Bureau and when your license has been issued you can now work as a licensed Agent. But since you know nothing about how the real world works you will need to find a company like MAE Capital Real Estate and Loan to train you in the Art of Selling which will revisit in a minute.
Moving on to getting the NMLS license or Mortgage Loan Originator (MLO) License. The test will be the same whether you want to have both licenses and sell real estate and do loans. To get your NMLS license you will need to have 20 hours of prerequisite courses that can also be obtained from any California Approved Licensing Agency and again First Tuesday can also provide the necessary courses required to obtain the NMLS License. I would again, stress that you take an Exam Preparation course that has practice tests and if you use First Tuesday they also have these courses. You will need to follow the steps on the NMLS site as well as signing up online. You will also need finger prints and no felonies to apply. Once you have completed all the steps to take the exam make sure you are ready by taking preparation tests and classes if necessary and take the test. Once you have passed the test you will have to know what you want to do with your new license as you will need to be trained in the art of Mortgage Lending. If you only have the NMLS license and have no desire to offer both Real Estate services and Loan Services you will have to pick a Mortgage Banker regulated by the DBO. Then, in order to start work, you must pay the $300 to the DBO. If you have your BRE license already you have the option for working for a Mortgage Broker that can offer both Real Estate Services and Loan services, like MAE Capital Real Estate and Loan.
Once you have the licensing you desire you will need to be trained in real life practice. You will need to choose a company that offers training like MAE Capital Real Estate and Loan. We will train you as a Realtor and as a MLO, so if you have one or both licenses you can utilize both licenses to their fullest. It has baffled me as to why if you have a BRE license and an MLO license you would work for a company regulated by the DBO where you are restricted to only doing loans. If you have the ability to offer your client a one stop shopping experience where you can “Bundle” your services and save you client money and make commissions on both the loan and the Real Estate why wouldn’t you choose that rout. Yes, you will have to pay your dues to the Association of Realtors but that gives you the opportunity to know the inventory in your area and become more professional in both fields as they have to work hand in hand in most every Real Estate transaction. Your dues will give you access to the Multiple Listing Service (MLS) where you can view all the details of property offered for sale or what has sold. YOur dues also gives you access to Zip Forms that are the online Real Estate Contracts and forms. Even if you have a client that just is requesting a refinance you will have the ability to log on and determine the value of the home prior to ordering an appraisal taking the guess work out of the equation and potentially saving your client the cost of an appraisal. With both licenses working for a Mortgage Broker you will have more products to offer than working for one Mortgage Company under the DBO as a Mortgage Broker has the ability to use many different lenders that offer many different products. At MAE Capital Real Estate and Loan we also offer the ability to Broker Hard Money Loans, thus further opening the doors to more commission possibilities.
Once you have obtained both licenses and you want to be trained in both fields or if you have been a Realtor and just got your MLO license and need training what do you do? Training opportunities in Mortgage business has always been costly or self-done and there are very few companies that offer extensive training prior to going out in the field . Here at MAE Capital Real Estate and Loan we have developed a training programs from the over 30 years of mortgage experience. We combine mentoring with classroom and homework to get the details needed to be a professional Loan Originator. If you would like more information please click here to be directed to our employment page and complete the form or simply call us (916) 672-6130 and we will show the benefits and the opportunities that you may not have known about before. Our training program will take 4-6 weeks where you can be working at the same time. You will learn all the ins and outs of the business from how to take a loan application and write a contract to how to close out a transaction and get referral business and all the marketing that you will need to know. I hope this has helped with your quest to enter the Real Estate and Loan business we are here to help as MAE Capital Real Estate and Loan has developed a reputation of being smart and innovative and are always looking for individuals that want to have the opportunity to expand their career to limitless possibilities.