Here’s the truth:you don’t know what you don’t know.As a new mortgage agent, it’s easy to get caught up in excitement and dive straight into building your business plan. That’s exactly what I did—I leaned on my 30 years of sales and marketing experience to create a plan with revenue-generating activities, short- and long-term goals, and metrics to track progress.
But looking back, I realize I missed a key step:choosing the right brokerage and mentor first.
The brokerage and mentor you choose will directly impact the resources, guidance, and opportunities you have to succeed. Their support (or lack of it) will shape how well you navigate compliance, lender relationships, file management, and your day-to-day operations. Asking the right questions upfront can give you the clarity you need to align your business plan with the support you’ll have.
Here are the key questions you should ask when deciding on a brokerage and mentor:
Questions to Ask About the Brokerage
- How many agents or brokers in this brokerage are in the top 20% for volume?Why this matters:A high percentage of top performers reflects the brokerage’s ability to support its agents, providing resources, training, and opportunities to grow.Flip side:If most agents are low performers, it could indicate a lack of proper training, support systems, or leadership within the brokerage.
- Does the brokerage share best practices from its top performers?Why this matters:Access to the strategies and workflows of successful agents can accelerate your learning and help you avoid common mistakes.Flip side:If there’s no collaboration or sharing of best practices, you might find yourself figuring things out on your own without a clear path to success.
- What kind of support does the brokerage provide?Why this matters:A brokerage that offers robust support—compliance assistance, lender training, admin resources, marketing help, and mentorship—can make your life as a new agent much easier.Flip side:If the brokerage provides little to no support, you’ll end up spending more time and money trying to fill those gaps yourself, which can slow down your growth.
- What are the commission splits, and what’s included in the fees?Why this matters:Your revenue potential depends on understanding how much you’ll earn and what services or tools are included in your split.Flip side:A higher split might look attractive, but if the brokerage doesn’t provide necessary resources like training or tech, you could end up spending more to build those on your own.
- What’s their onboarding process for new agents?Why this matters:A structured onboarding process can give you the confidence and tools you need to hit the ground running.Flip side:A lack of onboarding support could leave you feeling lost and unsure about where to start, slowing your progress.
- What lender relationships does the brokerage have, and are there any restrictions?Why this matters:Access to a wide range of lenders gives you the flexibility to find the best products for your clients, which can set you apart.Flip side:Limited lender relationships or restrictions can hinder your ability to offer competitive options, making it harder to close deals.
Is Your Mentor a Top Performer? Why It Matters More Than You Think
When it comes to choosing a mentor, this one is straightforward:your mentor should be a top performer.
Here’s why: Top performers have already done what you want to do. They’ve built successful businesses, closed countless deals, and faced the challenges you’re about to encounter. If your mentor is average or a low performer, how can they teach you to excel? They simply don’t have the experience or the tools to help you achieve the success you’re aiming for.
Being a mortgage agent is asales profession—don’t let anyone convince you otherwise. At its core, sales is about building trust, hunting for leads, building relationships, overcoming objections, and being an advisor. A mentor who is a top performer brings those sales skills to the table and can teach you how to:
- Manage Discovery Calls:From the questions to ask to the tone you set, discovery calls are the foundation of understanding your client’s needs.
- Provide Tailored Solutions:Top mentors know how to analyze a client’s situation and align it with the best mortgage product.
- Overcome Objections:Whether it’s about rates, terms, or conditions, they’ll teach you how to address client concerns with confidence and empathy.
- Navigate Complex Scenarios:Top performers have been in the trenches. They’ve dealt with challenging situations, difficult clients, and tough deals. Their insights are invaluable.
- Understand the Competition:A great mentor knows the market, the competition, and how to position your offerings effectively.
The Value of Sales Skills in a Mentor
Having a mentor with strong sales skills is more than just a bonus—it’s essential. A top-performing mentor will give you the tools to manage most situations confidently. They’ll show you:
- What to Say and Do:The ability to say the right thing at the right time can make or break a deal. From handling objections to explaining complex mortgage terms in a way that’s clear and relatable, knowing what works is an incredibly valuable skill.
- How to Build Trust:Trust is the cornerstone of any successful client relationship. A mentor who excels at sales will teach you how to build rapport, establish credibility, and become the trusted advisor your clients need.
- How to Prioritize Relationship Building:Sales isn’t just about transactions; it’s about relationships. A mentor who has cultivated a strong network of referral partners and loyal clients can show you how to do the same.
What to Look For in a Mentor
When evaluating a potential mentor, ask yourself:
- Are they consistently a top performer in their brokerage?
- Do they demonstrate strong sales skills, including the ability to build trust, overcome objections, and provide solutions?
- Do they have a proven track record of helping other agents succeed?
- Are they willing to share their strategies, tools, and insights with you?
- Do they model the kind of professionalism and work ethic you want to emulate?
The Bottom Line
Your mentor will play a critical role in your early success as a mortgage agent. Choosing someone who is a top performer ensures you’re learning from the best and equipping yourself with the skills and knowledge to excel. Their experience, insights, and sales acumen will become the foundation of your own practice, giving you a clear path to follow and the confidence to handle any situation.
Don’t settle for average—find a mentor who inspires you and pushes you to be the best version of yourself. It’s one of the most valuable investments you’ll make in your career.
Why These Questions Are Critical
The answers to these questions don’t just help you choose the right brokerage and mentor—they shape the foundation of your business plan. The resources, guidance, and culture you have access to will influence:
- Your financial expectations:Understanding splits and support helps you estimate your income and expenses accurately.
- Your learning curve:Knowing the level of training and mentorship available helps you gauge how much you’ll need to figure out on your own.
- Your time allocation:A brokerage with strong administrative support lets you focus on revenue-generating activities instead of getting bogged down in paperwork.
- Your client offerings:Access to a broad range of lenders impacts your ability to offer competitive products and close deals.
Choosing the right brokerage and mentor isn’t just about finding a place to hang your license—it’s about setting yourself up for success. Take the time to ask these questions, and don’t be afraid to dig deeper. The answers will give you the clarity you need to build a plan that aligns with the support you’ll have, so you can start your career with confidence.
Building a Simple Plan for Year One
Once you’ve chosen the right brokerage and mentor, the next step is creating a simple, actionable plan for your first year. Your plan should give you clarity on what success looks like, where to focus your time, and how to adapt as you learn. But before you dive into building your plan, you need to do some research to set realistic expectations and benchmarks.
Here are the key questions I’d recommend asking to lay the groundwork for a solid plan:
#1: What’s the Average Volume of Top-Performing Agents in Year One?
Start by finding out what top performers in your brokerage or network achieved in their first year. This will give you a realistic benchmark to aim for. However, you also need to dig deeper:
- Did these agents come from the mortgage or finance industry with an existing database of clients?
Why this matters:These factors can skew the numbers. It’s important to understand the context behind the volume so you can set goals that align with your own situation and resources.
#2: Where Did Their Volume Come From?
Ask top-performing agents or mentors to break down the sources of their deals in year one. Specifically, find out:
- How much of their volume came fromreferral partners?
- Did they generate leads fromfamily, friends, or former co-workers?
- Werenetworking groupsa major driver?
- Did they invest inadvertisingor other paid strategies?
Why this matters:Knowing where successful agents found their deals will help you prioritize your efforts. If most of their volume came from referrals, for example, you know to focus on building relationships with referral partners early on.
#3: How Many Referral Partners and Networking Groups Did They Rely On?
- How manyactive referral partnersdid they have?
- Were they part of anynetworking groups(e.g., BNI, Rotary, or local business associations)?
- How much of their business came from these sources?
Why this matters:Referral partners and networking groups are often the backbone of a new agent’s business. Understanding how many connections you need to maintain—and how much volume you can expect from them—will help you structure your plan.
#4: What Revenue-Generating Activities Did They Do, and How Many Per Day?
Ask successful agents about their daily routines:
- How manyoutreach activities(e.g., calls, emails, or social messages) did they do each day?
- Did they focus on hostingeducational sessionsor attending community events?
- How much time did they dedicate to prospecting?
Why this matters:Success in year one often comes down to consistency. Understanding how much effort is required—and where to focus it—will help you build habits that drive results.
Start Simple: A Plan You Can Follow and Adapt
Any successful agent needs a simple, solid plan they can follow, learn from, and adapt. The purpose of this plan isn’t to predict everything that will happen—it’s to give you a starting point and a framework to measure your progress.
As you begin to execute, you’ll learn what works best for you and adjust accordingly. But having this roadmap before you hit the ground running will keep you focused and moving forward, even on the tough days.
Building a Solid Foundation to Scale Your Mortgage Business
As a mortgage agent, you wear many hats. On one side, you’re constantly hunting and prospecting for new business. On the other, you’re managing every detail of the mortgage process once a client comes on board. Balancing these responsibilities can quickly become overwhelming, especially without a clear process in place. But here’s the good news: with the right foundation, you can scale your business effectively without burning out.
The Two Sides of the Business: Prospecting vs. Client Management
1. Prospecting for Business:Your first job as a mortgage agent is finding clients. This means building relationships and creating opportunities across multiple channels, including:
- Referral Partners:Real estate agents, financial advisors, accountants, lawyers, insurance agents, tradespeople, and insolvency trustees can all be valuable sources of referrals.
- Personal Network:Your family, friends, and former colleagues can help you get started by spreading the word about your services.
- Direct Campaigns:Whether it’s email outreach, social media, or advertising, reaching out directly to your network is a great way to stay top-of-mind.
Finding business requires consistency and creativity. You’ll spend time networking, following up, and building trust with people who can send clients your way.
2. Managing the Mortgage Process:Once you’ve secured a client, the work has just begun. Managing the mortgage process involves several moving parts, from the first call to post-closing follow-ups and eventual renewals. This includes:
- Collecting and verifying documents
- Submitting applications to lenders
- Reviewing mortgage solutions with clients
- Meeting deadlines and managing conditions
- Keeping clients and referral partners informed at every step
It’s a lot to juggle, and without a clear system, things can easily fall through the cracks—damaging your client experience and your reputation.
Why You Need a Process and Workflow
Here’s the truth:you can’t scale chaos.If your day-to-day is disorganized, it will only get worse as your business grows. A solid process and workflow allow you to:
- Stay Organized:Map out all the tasks required at each stage of the mortgage process—from prospecting to closing and beyond.
- Reduce Stress:With a clear workflow, you’ll always know what needs to happen next, minimizing the risk of missed deadlines or forgotten tasks.
- Deliver a Great Client Experience:When you’re on top of your process, your clients will feel cared for and confident in your abilities.
- Free Up Time to Scale:The less time you spend putting out fires, the more time you have to grow your business.
Building Your Workflow
To create a workflow that works, start by breaking your business into stages:
- Lead Generation and Prospecting:
- Client Intake:
- Document Collection and Review:
- Submitting to Lenders:
- Post-Approval and Closing:
- Renewals and Post-Closing Touchpoints:
The Key to Scaling: Simplicity and Consistency
A solid foundation isn’t about making things complex—it’s about simplifying your workflow so it’s repeatable and efficient. Focus on:
- Documenting Everything:Write down every step in your process so you (and eventually your team) can follow it without missing anything.
- Automating Repetitive Tasks:Use technology to handle follow-ups, reminders, and document collection whenever possible.
- Evaluating Regularly:Review your process monthly or quarterly to identify bottlenecks or inefficiencies and adjust accordingly.
Final Thoughts
Scaling your mortgage business starts with mastering the basics. By creating a clear process for both prospecting and client management, you’ll build a foundation that can handle growth without sacrificing quality. Remember, it’s not about doing everything perfectly—it’s about having a plan you can consistently follow, adapt, and improve over time.
When your workflow works for you, it frees you up to focus on what really matters: building relationships, delivering value, and growing your business.
Leveraging Technology: The Tools I Use to Build My Mortgage Business
In today’s fast-paced world, technology isn’t just a convenience—it’s a necessity. As a mortgage agent, using the right tools can make the difference between a chaotic, overwhelming business and one that’s streamlined and scalable. Here’s a breakdown of the tech stack I use and how each tool helps me build my foundation.
1. CRM: Pipedrive
Pipedrive is the backbone of my business. It helps me stay organized by tracking every deal, task, and client interaction in one place.
How I Use It:
- Manage my sales pipeline from lead intake to post-closing.
- Set reminders for follow-ups, tasks, and client touchpoints.
- Track deal progress and ensure no steps are missed at any stage of the workflow.
- Analyze where my leads are coming from and identify opportunities to improve my process.
Why It’s Essential:A CRM keeps everything in one place, so I’m not relying on sticky notes, emails, or memory to track tasks. It ensures I stay on top of every client and referral partner relationship. You also want to own your client database, in case you ever switch brokerages.
Link to Pipedrive
https://aff.trypipedrive.com/gqr0988ik72g
2. Velocity (Origination Software)
Velocity is the platform I use to handle the actual mortgage application and submission process.
How I Use It:
- Input and store client information and documents.
- Pull credit reports and run affordability calculations.
- Submit deals directly to lenders and track their status.
Why It’s Essential:Velocity simplifies and centralizes the origination process, reducing errors and saving time. It’s the go-to tool for handling the technical side of the mortgage business.
3. Home Center App
The Home Center App is a client-facing tool that provides a seamless experience for clients and referral partners.
How I Use It:
- Share mortgage purchase reports with clients
- Offer clients a way to calculate mortgage affordability, payments, and costs directly.
- Share pre-qualification certificates and tools for managing their homeownership journey.
- Use the app to engage with clients, helping them stay informed and feel empowered.
- Run refinance scenarios for clients
Why It’s Essential:It enhances the client experience by providing tools that simplify complex calculations and processes, making me look professional and accessible.
4. Google Workspace and Microsoft Office
These tools are my workhorses for managing day-to-day business operations.
How I Use Them:
- Google Workspace/Microsoft office :For email, calendar management, document sharing (Google Drive), and collaboration, advanced spreadsheet or presentation needs.
Why They’re Essential:Together, these tools keep my communication, documentation, and planning efficient and professional.
5. ChatGPT
Yes, this very tool is a key part of my workflow!
How I Use It:
- Draft client emails, social media posts, and articles.
- Brainstorm content ideas for newsletters and videos.
- Get quick answers or research insights on mortgage-related topics.
Why It’s Essential:ChatGPT saves me time by helping me create high-quality content and solve problems quickly, so I can focus on more important tasks.
6. Loom (Video Recording)
Loom is a game-changer for creating personalized video messages for clients and partners.
How I Use It:
- Record walkthroughs of mortgage commitments or application steps.
- Provide detailed, visual explanations to clients that they can watch at their convenience.
- Create onboarding videos for new clients or referral partners.
Why It’s Essential:Videos add a personal touch and help clients understand complex information more clearly. It’s like having a face-to-face meeting without needing to align schedules.
7. CapCut (Video Editing)
CapCut helps me polish my video content for social media or client communication.
How I Use It:
- Edit videos for Instagram, LinkedIn, and Facebook to promote my services.
- Add captions, visuals, and branding to make videos more engaging and professional.
Why It’s Essential:High-quality videos help me stand out in a crowded market, attract leads, and build credibility with clients and referral partners.
Bringing It All Together
Each of these tools plays a specific role in helping me manage and grow my business. From tracking deals and managing clients to creating engaging content and delivering an exceptional client experience, this tech stack allows me to stay organized, professional, and efficient.
If you’re building your mortgage business, I highly recommend exploring these tools and integrating them into your workflow. They’re not just time-savers—they’re business-builders. The key is to use them to their full potential, so you can focus on what really matters: serving your clients and growing your business.
Wrapping Up: Steps to Build a Mortgage Business That Lasts
Starting a career as a mortgage agent isn’t just about closing deals—it’s about building a sustainable, scalable business that allows you to grow while delivering exceptional service. Over the past two years, I’ve learned that success comes from asking the right questions, leaning on the right support systems, and staying committed to learning and improving.
Here’s what I’ve discovered:
- The Brokerage and Mentor You Choose Matter:The right brokerage will provide the tools, training, and culture you need to thrive, and a mentor who is a top performer can guide you through the challenges of starting out. My brokerage,Mission35 Mortgages, has been instrumental in helping me grow. From collaborating and learning from top performers, to incredible training one-on-one, using their packed online learning management platform, to the monthly Mortgage U training, to lender training, to marketing resources, to compliance and admin support, to their dedication to supporting the community, their lucrative splits programs, the list goes on. Their support has allowed me to focus on what I do best—helping clients.
- Your First-Year Plan Should Be Realistic and Focused:Don’t try to do everything at once. Research what works for successful agents, focus on building relationships, and create a plan that’s simple enough to follow but flexible enough to adapt.
- Technology is Your Best Ally:Tools like Pipedrive, Velocity, and the Home Center App aren’t just conveniences—they’re essential for staying organized, managing client relationships, and delivering a seamless experience.
- Workflows Are the Key to Scaling:Without a clear process, things can spiral into chaos quickly. Take the time to map out every step of your client journey, from lead generation to renewals. This will not only reduce stress but also ensure you’re delivering consistent, high-quality service.
Closing Thoughts
Building a mortgage business takes time, patience, and a lot of hard work. But with the right foundation, it’s absolutely worth it. Focus on the basics: surround yourself with the right team, create a clear plan, leverage technology, and refine your processes as you grow.
The first couple of years are about learning and building, but the work you put in now will set the stage for years of success. If you’re just starting out, I hope this advice helps you avoid some common pitfalls and gives you confidence as you move forward.
Good luck on your journey—and remember, consistency and adaptability are your greatest assets.
Feel free to reach out or DM here if you ever want feedback on my brokerage or to swap stories and best practices.
Connect with me on Social Media
https://www.linkedin.com/in/dwaynekavanagh/