Mortgage Brokers: Are You Holding Yourself Back?

Mortgage Brokers: Are You Holding Yourself Back?

Let’s face it, not every mortgage broker struggles, but I’ve been in conversations with three or more brokers a day, every day, for the last six years. That perspective gives me a clear view of where many fall short—and it often boils down to one thing: they get in their own way.

When you entered this business, you knew one thing for sure: finding your own clients was part of the deal. The reward? The income potential is well worth the effort. But here’s the thing—you don’t need to hustle the way brokers did in the past. The landscape has changed.

Are You Using the Right Tools?

Thanks to technology, even before the recent AI boom, there have been proven systems and services designed to save you time and money while solving your biggest obstacle—yourself. Yet, many brokers cling to outdated, ineffective methods. Let me share a story.

I spoke with a mortgage broker yesterday who outlined his prospecting strategy:

“Will, I go on LinkedIn daily to connect with people.”

I asked how many appointments he’d booked with potential business partners. His answer? Zero.

“I also drive around looking for real estate offices and attend open houses on weekends.”

I followed up with, “How many deals are in your pipeline?” Again, zero—and he’s been in the business for six months.

With no leads and no deals, I offered him a solution: 25 targeted prospects a day for six months at a fraction of what he was already spending on time and gas. His response? He declined.

The Hidden Cost of Inefficiency

Let’s break down the numbers. Suppose you value your time at $50 per hour. Spending three hours a day, five days a week driving around and networking adds up to 15 hours or $750 weekly. Over a month, that’s more than $3,000. And after three months of zero results? You’ve burned through $9,000 in time and expenses with nothing to show for it.

Now, let’s address the common objection: “I can’t afford to invest in your offer.” If your current strategy isn’t working, how much longer can you afford not to invest in change? If money is tight, borrowing might be an option—something your own clients do every day to buy homes.

The Real Cost: Burnout and Lost Time

The harsh reality is that without change, burnout is inevitable. Time is our most valuable asset, and once it’s gone, it’s gone forever. Every day spent on ineffective strategies is a day lost, not just in business growth but in personal fulfillment.

What Is Your Time Worth?

If you find yourself stuck, take a moment to calculate the true cost of your current approach. What’s your time worth? What results are you seeing? Are you sabotaging your own success by clinging to outdated methods?

This isn’t about shaming or belittling anyone. It’s about having an honest conversation. Too often, I follow up with brokers months later only to hear they’ve left the business entirely. Meanwhile, the brokers who took a chance on new strategies are thriving.

Don’t Be the What-If

Don’t let this be your story. Reflect on your current plan. Make smart choices that set you up for long-term success. If you’re ready to break through the barriers holding you back, #WAMarketingSolutions is here to support you every step of the way.