A mortgage broker is a person who understands the diverse offers of banks for mortgage lending and, at the same time, understands the housing market. That is, this is a realtor who has spun off into a separate niche. That’s how it all started.
You can object: “What kind of mortgage broker, when mortgages in Russia are a statistical error and, in general, is there a crisis in the country?”. But, as always, let’s laugh at the unbelievers. The reality is that the few mortgage brokerage firms can no longer keep up with the influx of clients. They are afraid that they may not be able to cope with the volume of applications at all and will simply “freeze” if the situation with mortgages improves a little.
Experts warn: if now this niche in the market is empty, then this means only one thing – it’s time to take your place and study. Now timid newcomers are mastering this niche as parallel to another (main) business.
Basically, of course, this is a real estate business. But at the same time, there are also such entrepreneurs who boast that mortgage brokering is their only field of activity, and at the same time, they pay off, and have a profit …
Nevertheless, at the moment, it will be more relevant to play it safe and open your own business on the basis of large investment and construction companies and real estate agencies.
So, as economists predict, as soon as the loan rate drops by 1.2 percent, a mortgage boom will begin in Russia.
Already today in our (we admit, rather a frail market) there are several hundred different banking mortgage products, and for a simple consumer (who also works like an ox, otherwise the question of a mortgage would simply not have been raised for him) has neither the time nor knowledge in order to be civilized, i.e. competently, to solve for themselves their main non-philosophical question.
And mortgage brokerage is a professional selection of the optimal mortgage loan and assistance in obtaining it.
Why else is a mortgage broker this tempting and true thing for a young man considering life? But now we will answer an important question: “Who benefits?”
The presence of a mortgage broker in nature, it turns out, is beneficial not only to the brokers themselves! Therefore, you will be helped, not hindered. So, who, besides you (and hypothetical very busy and not very confident clients), really benefits from your entry into the original market niche?
- You reduce the costs of the bank, as you bring the client in an organized way, avoiding crowding at the counter and asking stupid questions. The main thing is that you carry out the primary screening of customers, playing the role of a “coarse filter” for solid particles, thereby helping the delicate jar not to “break”.
- For construction companies and real estate agencies, sales volumes increase by 20-30% if a mobile intermediary appears between the client and the desired apartment – that is, you.
A little sad
The most difficult thing is that if you do not have warm relations with banks, there is no way to receive complete information from them, then you are unlikely to succeed much in this matter. This is a very specific business.
Back to fun
However, good triumphs over evil. And as one famous king said, connections are far from everything. Therefore, if you have gray matter in your head, then those with connections may fade against your background. Such examples in domestic business were and are. And it gives hope.
A bit about gray matter
Under the gray matter in this situation, we mean the possession of the most modern information technologies. Specifically, this means that before you start your business, you need to have high-quality fast Internet, and modern technological products, so as not to drown in applications from customers. Strictly speaking, this is the establishment of work not with money, but with skill, to paraphrase a famous commander. This is office work at the modern IT level. So, the purchase of IT solutions can cost $ 5,000 and this is not the limit. Separate words about the site. This is your home. There should be no abomination of desolation.
If you are a solo freelancer, then it will take you two thousand dollars to get into the business. Payback – from 2 months to one year. If you are a whole company, then you need $ 30,000 to start. In this case, you will have from 500 to 1000 dollars from each transaction or 1-5% of the transaction. The staff you are going to hire must have experience in the real estate business and in the banking sector.
The commission, as we have already said, is of two types. This is either the standard amount for doing business, or a percentage of the transaction brought to mind.
So, while the market is developing, we still have time to develop with it. By the way, in the West, the services of a mortgage broker are used by two out of three who applied for a loan.