Once the dust clears from the Fed’s rate tinkering, Torre-Roffe said he believes brokers will have gained market share, positioning them in an even stronger position than before. He credited AIME with helping make that happen with its mission of spreading the message that “brokers are better,” saving the average consumer an average of $9,400 by working with them over other channels.
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“I’ve only been in it five months, but it’s been ready,” he said of the broker channel. “Technology has helped make it what it is now. I think it’s only gaining market share during these times and not because rates are lower. I think it’s going to grow over the next couple of months and will only continue to get stronger.”
For those just now entering the channel – especially not having had to endure challenges – he offered advice: “Desire and motivation to be better and want to get better,” he said, ticking off a couple of required attributes. “Number two is emotional intelligence. No branch manager, no company can teach you that.”
But to optimize the chances at success, one must align oneself with a company that matches with one’s goals, he added. For example, if a person is a specialist in VA loans but joins a company that lacks the specialty, the chances of personal success are diminished. “For newer people coming in, identify really what you want to do,” he said. “Try to align with a company or mentor that can support that and help you grow your plans based on that.”