What should you do right after you pass your Mortgage License Exam?

So you had spent many days and many nights studying for the Mortgage License Exam, and finally, you pass it. Now what? What should you do right after you pass your Mortgage License Exam?

I guess the first thing you should do is to find a Mortgage Brokerage that is “the right fit” for you. Regarding this topic, I won’t elaborate here as I had written another articles that specific talks about this topic. But I just want to point out that, finding a Mortgage Brokerage is not like interviewing for a job. You are not like “being hire” and you should not be too nervous. Instead, in terms of mentality, I think you should be more like buying your own house. A bit anxious, but you are there to find out if the “house” is a right fit for you.

The second thing you should do, is to absorb as much knowledge about Mortgage and the Mortgage Industry as possible. Read about the news regarding Mortgage Industry, such as any rules changes, interest rate changes, trends etc.

Third thing I think you should do, is to find a mentor or shadow someone who is in the industry and learn what they do everyday. This one is a bit tough if you do not have any connections. Say if you have a friend in this industry, see if you can follow them for a week or so. If you don’t have a friend in the industry though, call around and see if anyone can let you shadow them for a day or two. Make notes on what they do, ask questions and listen to their answer. (Shameless plug of my own training course and workshop, which basically will teach you everything I do daily, from what questions to ask clients to how to submit a deal on computer etc. For more info, it is on www.mortgagehackercanada.com It is the next best thing to shadowing myself basically)

And now that you are equipped with some new knowledges, you should now tell your friends and family that you are in the Mortgage Industry officially. Don’t expect them to be your greatest sources of clients and referrals for now. In fact, they probably won’t ask you to do their mortgage for now. But at least they know you are in. Keep sharing post and articles about things that they might be interested in knowing, and eventually they will ask you to do their mortgage, or will start referring their friends to you.

Lastly, reach out to some referral sources that you know, such as realtors, lawyers, accountant, investment advisors, and immigration consultant etc. Connect with them. After a while, start reaching out to referral sources that you DON’T know. It takes a while to get them on board but you just don’t need a lot of referral sources to get the ball rolling. 3–5 referral sources to start is a good number.

After a few deals, the ball start rolling and keep rinse and repeat and you will become a Mortgage Superstar in no time. All the best to all of you.

Calvin
Professor C
www.youtube.com/calvinchan