Can Mortgage Brokering Be a Freelance Opportunity?
Businesses are looking to the future with a sense of urgency, attempting to figure out the best ways to turn profits and, at the same time, eliminate some of the overhead costs of doing business. It’s a Catch-22 for most companies today and one that will mean both limitations, and opportunities, for millions of people in the years to come.
Freelancing – the wave of the future in real estate?
The larger question that looms in the air like a thick fog, as millions of individuals struggle to find work, afford health insurance, and basically just survive is whether the future, or the present, holds any serious prospects for them. The topic that is being covered in the news more and more in recent days and weeks is the growing trend of businesses to seek out independent contractors for hiring opportunities. It is estimated that within twenty to thirty years there could very well be more than half of the entire American workforce hired as independent contractors as opposed to hourly, regular company employees.
While on the surface this might not seem like much of a concern for people today, the long range ramifications can be drastic. Independent contractors don’t share the same perks and benefits that regular full-time employees receive. They don’t receive vacation pay or sick time, they don’t share in the health care benefits of their full-time regular employee counterparts, and they are not afforded the opportunity to invest in a retirement fund through the company.
Why would anyone want to become a freelancer?
With these limitations, it can be easy to ask the pointed question of why. Why would anyone want to look forward to a job that has no real security, no benefits, no vacation time, no room for getting sick, or building toward a retirement fund (remember that most companies match 401k contributions dollar for dollar with their employees)? The answer is flexibility and opportunity.
Working as an independent contractor affords the driven and motivated individual the chance to control their earnings potential. Traditional full-time employees (and part-time for that matter) work on either a salary or hourly basis, meaning that their income potential is predetermined and set annually. Often there are bonuses and other incentives thrown in the inspire and motivate, but the room to advance one’s own wealth table is limited. Freelancing earning potential is up to the individual independent contractor alone.
Earning your fair share
If an independent contractor wants to earn twice what they are currently making, there are a number of ways to set about accomplishing that goal. They can double their hours, increase efficiency by inventing new ways to accomplish the same job, or subcontract out other assignments for less money, taking a commission or percentage off the top. Being innovative helped to build America and that spirit of creativity can help anyone reach beyond what they thought possible, or probable.
Opportunities in the mortgage industry
So, the question comes down to whether or not there are freelancing opportunities in the mortgage industry. The answer would have to be an unequivocal yes. In any industry there are opportunities for independent contractors to find, secure, and keep employment coming in for themselves. It is important to note that while many loan officers, and brokers alike, work for commissions, the independent contractor’s general livelihood will be not all that dissimilar.
Licensing and other state and local regulations that will be required will be entirely up to the independent contractor to manage and oversee. So how would a freelancer sell himself or herself to a mortgage company? By using the aforementioned cost savings opportunities for any business. If a mortgage company sees an opportunity to have motivated individuals working to bring business to their door, without their need to invest in benefits, advertising, or other related expenses, then why wouldn’t a company want to consider it?
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