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Opening a Home Mortgage Business
from:Jackie works as a real estate agent. The job kept this person out on the field often because the apartment, condominium or home had to be presented to the potential customer.
The salary of this person was commission based. This meant there would only be a paycheck if a deal was closed. Things like this did not happen everyday so Jackie decided to request for transfer into another department in the company as a loans officer.
The new job required going into the field once in awhile and a lot of paperwork to finish while being in the office. The pay here was much more stable since the employer paid a base salary as well as commission for every client that was approved.
Jackie was doing well at the new post and the boss also took notice. Less than a year later, this employee was promoted to the position of broker. This meant more money coming in since this individual would now be the middle person in closing deals.
The highest position in any home mortgage company is the broker. This is because the firm where Jackie was employed in not only sold property but also helped customers find ways to pay for the loan.
Feeling that this was the end of the road and there was nowhere else to go, Jackie left the firm after working there for 5 years and decided to open a home mortgage business.
Jackie did not have enough money to rent office space to start the business. The only thing this individual had was the experience of how a home mortgage company operates so this had to be done by working at home.
The first people that Jackie called up were some clients who purchased a piece of property before. Some of these individuals were ready to buy again while those who weren’t gave the names and numbers of friends and family instead.
Using some former contacts in other real estate companies, this person was also able to get some houses, condominiums and apartments, which can be shown, to potential customers. Being the owner of the business, all the money now went to Jackie whenever a deal was made.
It took awhile for someone like Jackie to learn everything before deciding to put up a home mortgage business. People can do the same thing this person did and be more successful than those who have no idea where to begin and learn from the mistakes made.
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