Are you a Real Estate Broker Owner or Team Leader? Have you explored adding an Ancillary Business to your brokerage or team? Adding a Mortgage Brokerage to your current real estate business probably isn’t as difficult as you think & probably cost less than you can imagine. I work for Motto Mortgage, we are a mortgage brokerage in a box with over 300 Franchises across 40 states.
There are many reasons why you should be looking into adding ancillaries to your real estate business. Below I have listed 6 that I think are at the top of the list.
- Real estate commissions are getting squeezed from both ends.
Sellers want to pay a lower listing commissions and your agents want a higher split. Everyone wants more for less. This is causing many brokers to cut commissions & raise splits to try and maintain their business.
Unfortunately that means, as a broker, you will probably make less money this year or at a minimum have to close more transactions this year to make the same amount of money you made last year. Who wants to work harder to make the same money?
What if there were a way to capture more money from the transactions that you are already working on? What if you could help your clients have a better transaction, legally make money doing it and grow your business with minimal overhead?
- Adding a mortgage brokerage to your real estate company is 100% legal & probably not as difficult as you might think.
Now, don’t get me wrong, if you try to do it all on your own it will be extremely hard and take quite a bit of your time.
You would need to setup all of the systems & processes as well as some form of training & support. You would need to get all of the wholesalers lined up because obviously you can’t offer just one product, that wouldn’t work in today’s mortgage world.
So doing it on your own would defintely be more difficult and take a lot more of your time.
However, Motto Mortgage is a Mortgage Brokerage in a box. We help you with finding your LO, training, lender setup, software, systems, processes, compliance, audits, support & more. We offer a Turnkey Solution to adding ancillaries to your real estate business.
What if it was easier than you thought? What if you had the backing of a company with almost 200 locations nationwide? What if you had access to all of the top lenders & you could help your buyer get a better rate?
It probably isn’t as difficult as you think, but as of right now, you don’t know what you don’t know about how it all works. Let’s talk through the info & learn more.
- You already own a mortgage business, you just aren’t getting paid for it yet.
You are the source of the spring water. We just need to put another cup under the faucet to help capture those mortgage transactions.
The homebuyers that your office works with are the golden goose. Most homebuyers need a mortgage. When they need a mortgage, who do they ask for a referral? That’s right, they ask their real estate agent.
Right now you refer those mortgage leads to “your mortgage guy” or “your mortgage lady”. I KNOW you have them on speed dial and when you call they pick up the phone because YOU ARE THE SOURCE OF THE GOLD.
What if you had a one stop shop for your home buying clients? What if the transaction were seamless because you had mortgage in house? What if your mortgage brokerage could shop across multiple wholesale lenders for the best rates? What if you could legally make money doing this while truly helping your client?
You already own a Mortgage company, you just aren’t getting paid for it yet.
- The cost to add a mortgage brokerage to your real estate business is lower than you would expect.
If you try to add a mortgage company into your real estate business on your own it can be quite expensive. You will make mistakes, you will spend money when & where it doesn’t need to be spent and it will cost you more time than you are willing to invest.
What if there were a business in a box that was turnkey and included setup assistance, training, support & more? What if the cost of that business in a box was under $50k?
Would it make sense to explore a little? Maybe learn how Motto Mortgage’s business in a box can help you capture more revenue from your current real estate transactions?
- Time is the great equalizer.
We all have the same amount of time to use each day. What we do with that time has become more & more important to many Real Estate Brokers & Team Leaders, especially over the last 2-3 years.
How much time do you think it takes to run a turnkey mortgage business with a proven track record of success? What if you didn’t need to know anything about mortgages to own a mortgage brokerage? What if there was a support system in place already that supported the LO’s that work for you? What if this was a manager run business instead of an owner run business?
The actual day to day operations of a Motto Mortgage business is minimal once you have everything setup.
Yes, it takes some time, money & effort to set it up. Even with our help you will still need to invest some time in the beginning.
But once things are setup & running smoothly the amount of time you invest is minimal.
“How much time will I need to put in?” is one of the top 3 questions I get when talking with Real Estate Broker Owners & Team Leaders.
Over 300 people have liked my answer and joined Motto Mortgage, so let’s talk about this further.
- You will look at acquisitions & recruiting differently because those opportunities are worth more.
From time to time most Real Estate Broker Owners are presented with opportunities to acquire a competitor or add a team or open another location.
What if, during your calculations for those scenarios, you were able to add in significantly more revenue per transaction? What if the overhead was minimal?
Would you look at acquisitions, teams and opening other offices differently if it was worth more?
Growth is all about timing & opportunity. The timing couldn’t be better to add ancillaries to your real estate brokerage & the Motto Mortgage opportunity is a no brainer.
Let’s talk through all of your questions. I know the top 10 things that you are going to ask me when we talk. As a matter of fact, I have created a “Top 10 Questions that Broker Owners & Team Leaders ask” .pdf that I am happy to send to you in advance with no obligation.
Send me an email and ask me for it, I’ll reply with the file. No obligation. Just solid information & answers to the top questions I know you have.
My email address is: john.henning@mottomortgage.com or you can text my cell at 484-942-6383
Mention you read this article and I’ll send you the above “Top 10 Questions that Broker Owners & Team Leaders ask” file.
About the author: John Henning is the Senior Franchise Developer for Motto Mortgage. John has extensive experience developing Real Estate, Insurance & Mortgage Franchises. Over the past 7 years John has helped 100’s of Real Estate Brokers & Team Leaders grow their real estate business through franchising & adding ancillaries.
Want a free no obligation consultation on ancillaries? Fill out the form below & John will be in touch.