Most of us can think of people in our lives, with more experience than ourselves who have supplied information, offered advice, presented a challenge, initiated friendship, or simply expressed an interest in our development as a person. If we think long enough most of us must admit we have had mentors even though we may not have called it 'mentoring' at the time. Very often our first mentor was our parents or other relative who taught and demonstrated for us some essential knowledge or understanding that we needed.
The term "mentor" has its origin in Homer's Odyssey when a man named Mentor was entrusted with the education of the son of Odysseus. In modern times, mentoring is associated with a variety of activities including teaching, counseling, sponsoring, role modeling, job shadowing, academic and career guidance, and networking. Mentors can be helpful in just about any areas of your personal development. However, this is especially true when it comes to achieving your goals whether they are personal or in any area to which you are new and inexperienced.
Have you ever stopped to consider why the best sports figures and Fortune 500 CEOs hire coaches? On the surface it doesn't make sense. These people are the best in the world at what they do, so who is realistically going to be able to help them get even better? Well, as I'm sure you already know, the reason that they are the best is because they have coaches. Coaches provide several things for those at the top of their profession and those seeking to improve their performance:
1. An external, unemotional perspective to help the one coached see things that they can't perceive about their performance.
2. Information on new aspects of the profession or related professions to help increase performance.
3. Networks of other professionals who can help in areas where the performer is weak.
4. Experience from their past challenges, helping the one coached move ahead faster.
So what does this have to do with Mortgage, and home loans?
Whether you're just starting out or are a seasoned loan officer, I can guarantee that you'll get better if you enlist a mortgage coach or coaches to help you grow.
1. Consider a retired loan officer, investor, or real estate agent. You could check with a local commercial mortgage office to ask if anyone is retiring soon or has recently left the business. Approach them with the concept of becoming an apprentice and giving them a piece of your profits. They might just enjoy passing on their wealth of experience.
2. Check with a local S.C.O.R.E. office to see if there is anyone who has experience in the mortgage industry. S.C.O.R.E. is a non-profit business resource group and can be found at http://www.SCORE.org.
3. Do you know anyone in the business that is already successful? Approach them with the idea of becoming an apprentice, but be very mindful of their time when you do. Again, consider offering them some of your profits as compensation.
4. Consider a personal or business coach for hire. There are a lot of people in this business and some of them are very good. I'd caution you to be very careful whom you hire, however. You're looking for a specialized type of coaching here, more than the generalized life coaching that a lot of these people offer.
I would suggest a few other points in selecting a loan officer coach:
1. Make sure that they have actual experience in home loans, sales, or mortgage.
2. Hopefully they will provide you with access to experts in related fields to help you understand all aspects of the business.
3. They should allow you to access other investors so that you can network, share resources, and benefit from each other's experience.
4. They should provide an archive of useful information, resources, and tools for your benefit, accessible at any time you need.
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