109 replies to this topic

[Jacqueline]

Hollllllaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa

[monicabrandon2008]

Quote:

Originally Posted by JennyK They're saying its very cut-throat and everyone in the mortgage industry has left these firms bc there's no money to be made right now but they did say if they offer me a salary while they train me and I get a 50/50 split, to go for it.

What they say is true and I'm glad you have people to talk to that are in the industry. 50/50 split is good and they definitely need to give you a salary when they train you. GOOD LUCK!

[Sandra E.]

Good luck Jenny!!!

[JennyK]

Quote:

Originally Posted by Jacqueline Hollllllaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa

[JennyK]

Quote:

Originally Posted by monicabrandon2008 What they say is true and I'm glad you have people to talk to that are in the industry. 50/50 split is good and they definitely need to give you a salary when they train you. GOOD LUCK!

But if they dont offer me any kind of pay, I shouldn't take the job right?

Quote:

Originally Posted by Sandra E. Good luck Jenny!!!

Thanks!!!!!!!! :)

[Dez921714]

Good luck today Jenny!!!!

[becks]

Quote:

Originally Posted by JennyK But if they dont offer me any kind of pay, I shouldn't take the job right? Thanks!!!!!!!! :)

Hi Jenny!

Here's my two cents, and do with it what you will. Yes, the mortgage industry is very tight right now. People's commission-based income has plummeted in the last several years - not so much because the bosses aren't paying, but that there are so few new loans out there.

That being said, I would be surprised if coming in young and without a book of business/existing clients they would put you on a straight commission. You will more than likely have a base salary that will just barely keep you in PB&J and cover your rent. Everything else will be commission based. So, if you sell mortgages, you make money. If you don't... I hope you really like PB&J.

If they offered me a straight commission job, no, I wouldn't take it. They have to be willing to make the investment in you to train you properly and see that you can feed yourself and keep a roof over your head while you develop a client base. After all - you're taking the risk that their brand is going to be good enough to allow you to make the contacts that will let you develop clients.

Hope that helps! and GOOD LUCK!!!

[JennyK]

Quote:

Originally Posted by becks Hi Jenny! Here's my two cents, and do with it what you will. Yes, the mortgage industry is very tight right now. People's commission-based income has plummeted in the last several years - not so much because the bosses aren't paying, but that there are so few new loans out there. That being said, I would be surprised if coming in young and without a book of business/existing clients they would put you on a straight commission. You will more than likely have a base salary that will just barely keep you in PB&J and cover your rent. Everything else will be commission based. So, if you sell mortgages, you make money. If you don't... I hope you really like PB&J. If they offered me a straight commission job, no, I wouldn't take it. They have to be willing to make the investment in you to train you properly and see that you can feed yourself and keep a roof over your head while you develop a client base. After all - you're taking the risk that their brand is going to be good enough to allow you to make the contacts that will let you develop clients. Hope that helps! and GOOD LUCK!!!

definitely helps! I will take everyone's advice with me.

im leaving now - ahhhhhhhhhhhhhhhhhhhhhh i'll let you all know how it went. I have to meet with the partner of the firm.

[Carolyn]

best of luck today.

[monicabrandon2008]

Quote:

Originally Posted by becks Hi Jenny! Here's my two cents, and do with it what you will. Yes, the mortgage industry is very tight right now. People's commission-based income has plummeted in the last several years - not so much because the bosses aren't paying, but that there are so few new loans out there. That being said, I would be surprised if coming in young and without a book of business/existing clients they would put you on a straight commission. You will more than likely have a base salary that will just barely keep you in PB&J and cover your rent. Everything else will be commission based. So, if you sell mortgages, you make money. If you don't... I hope you really like PB&J. If they offered me a straight commission job, no, I wouldn't take it. They have to be willing to make the investment in you to train you properly and see that you can feed yourself and keep a roof over your head while you develop a client base. After all - you're taking the risk that their brand is going to be good enough to allow you to make the contacts that will let you develop clients. Hope that helps! and GOOD LUCK!!!

Great advice! When I got into the industry 5 years ago it was hoppin' so I took the straight commission job and it paid off. Now,even with 5 yrs. experience and a client base I have taken a major pay cut because there aren't a whole lot of loans. I wouldn't reccomend taking the job if they aren't willing to give you some sort of a salary either.