Burnaby, British Columbia – Shaun Francis, who is a business owner and mortgage consultant, recently gave an interview where he talked about how he mastered the 7 core competencies of the mortgage industry. These competencies include Time Management, Referral Network Building, Marketing & Promoting Daily, Demonstrating Ethics, Investing in Yourself and Your Business, Lead Generation, and Exhibiting Passion.
“There are several different factors which make someone successful in the mortgage industry,” Francis said in the interview. “Many mortgage professionals will focus on mastering a few core competencies, such as marketing and lead generation. However, where they typically fall behind is with time management and building a referral network. You can’t operate a successful mortgage brokering or consulting business without mastering all of these competencies.”
Francis obtained his knowledge of the mortgage industry and its core competencies through both education and experience. He obtained his Master of Business Administration degree in Economics and Finance from the University of Northern British Columbia. Meanwhile, he has been working in the financial services industry for over 14 years. He started out as a mortgage specialist for the Royal Bank of Canada before moving onto a bigger position as a director of business development.
“I learned a lot during my time at the Royal Bank,” Francis said. “It strengthened my ability to develop relationships with homebuyers and realtors within the community. This is how you build a network of clients who trust you to guide them throughout the very difficult mortgage approval process.”
Francis now works as a mortgage consultant in a company that he co-founded called Bespoke Lending Solutions. They provide customized mortgage solutions which are designed and structured around the specific financial goals of each individual client. Rather than approving mortgages directly, Francis connects clients with other credit unions, banks, and mortgage providers that can offer them the best deal possible on a mortgage.
“I am very fortunate to have made several connections throughout my years in the financial services industry,” Francis said. “These connections allowed me to jumpstart my business right off the bat. I know several financial institutions in Canada that offer reasonable mortgage terms to first-time homebuyers and investors. My clients come to me because they were previously turned down for a mortgage loan or they didn’t like the terms that were presented to them by whichever bank or lending institution they went to. My job as a mortgage consultant is to connect them with a mortgage lender that’ll give them reasonable terms on a mortgage and approve their application.”
Francis has created a successful referral network for his company with hundreds of members in it. These members send high-quality referrals to Bespoke Lending Solutions in exchange for generous commissions. “Between marketing my business every day and having new referrals sent to my company by members of our network, we’ve managed to obtain a large clientele list within the two years we have been active,” Francis said.
Francis advises all aspiring mortgage professionals to get an education and experience simultaneously. “That is the best way for your career to gain traction in the mortgage industry.”
