MB Mentoring System

[Connolly]

Hi all,

Looking for some feedback from experienced Mortgage Brokers an those knew to the industry on the 2year requirement to work with a Mentor when starting out as a Broker

Are you able to explain the basic structure of how this works and what it entails?
Is it full time working under someone else within their business or is it a basic transaction to up skill and get the individual savvy with systems, processes, PR, HR etc?

What is the general costing for Mentoring?

Cheers
Ben

 

[Peter_Tersteeg]

Hiya Ben!

The MFAA has a certified mentor program. It's a fairly structured course and recognised by the MFAA. I believe most of the people offering this course are charging a flat fee structure with a significant upfront cost to cover the licensing of the course from the MFAA itself. www.mfaa.com.au

There's plenty of brokers offering mentoring outside of this in various capacities. They're probably not going to be quite a structured as the MFAAs course, but this can be a good or a bad thing depending on the needs of the trainee.

In all cases, the cost is dependant on what each trainee and mentor agree upon. The services you get can also vary widely. Admittedly it's difficult to actually gauge

I've done the MFAA mentor course (I'm a certified mentor for the MFAA), but frankly it doesn't suit me to offer this. I don't think it really suits the people I've worked with either, but I have suggested to a few people that the certified mentor course would meet their needs better than I would.

We've spoken plenty of times before and I'd be happy to discuss this with you, but I should be upfront and say that I'm reluctant to take on more work in this manner right now. I'm always happy to give some pointers though and I can give some direction to others that may be interested.

 

[Shahin_Afarin]

Hi all,

Looking for some feedback from experienced Mortgage Brokers an those knew to the industry on the 2year requirement to work with a Mentor when starting out as a Broker

Are you able to explain the basic structure of how this works and what it entails?
Is it full time working under someone else within their business or is it a basic transaction to up skill and get the individual savvy with systems, processes, PR, HR etc?

What is the general costing for Mentoring?

Cheers
Ben

Each broker does it slightly differently depending on the experience of the broker starting out - the important thing is to clearly set out expectations between both parties from the get go.

We provide for 2 brokers - one is experienced in resi lending and we assist with SMSF and commercial transactions. This involves reviewing each loan through the structuring (pre loan submission) stage. We do not assist with systems and processes as its not required but thats not to say that it cannot be provided.

 

[Rolf Latham]

core question

what can you bring to the table for yourself and a prospective mentor......


the answer to that is more important than " whats out there' because the real answer is 'whats in you "

ta
rolf

 

[The Y-man]

PT,

You're supposed to tell them they have to run a Tough Mudder course while carrying you Yoda-esque on their back. .. oh hang on the electric eel.....

The Y-man

 

[Peter_Tersteeg]

I've been thinking of doing another Tough Mudder. I probably need the shock therapy.

 

[Connolly]

Thanks for responses and feedback guys.