The Big Dogs of commercial mortgage brokerage - the top 20% of the brokers - make more money than the average physician. These physicians endured four years of undergraduate school, four years of medical school, and two years of residency. They deserve to make the big bucks.
If you are going to succeed in commercial mortgage brokerage, you need to educate yourself in commercial real estate finance.
The good news is that you don't need a four-year degree to become a commercial mortgage broker. In most states you don't even need a license to become a commercial mortgage broker. You just need to study everything you can get your hands on about the subject.
There is more good news. When I first started out in commercial real estate finance 33 years ago, commercial real estate finance was like a medieval guild - very closed off to new entrants. There were no books or training courses available on the subject. Almost everything I learned about commercial real estate finance had to be pried out of bankers. Finally, fifteen long years later, I mastered the subject.
Today you are blessed. You can master the subject in less than six months by taking training courses. I was the first guy to offer training courses on commercial mortgage brokerage; but modernly a lot of my competitors offer similar courses. Take these courses!
Here is the order in which I would take the courses:
- How To Broker Commercial Mortgage Loans
- How To Fix Your Commercial Mortgage Practice If You're Not Making Any Money. This is my masterpiece!
- Intermediate Commercial Mortgage Finance
- Subscribe to My Blog
- How To Find Your Own Private Mortgage Investors
"But George, I'm starving. I can't afford your courses."
Then go back and read every old blog article that I have ever written. Remember, these blog articles are free, and every lesson in every one of my training courses started out first as a blog article. In other words, by reading my older blog articles, you can receive all of my training for free. Therefore there is no excuse not to educate yourself in this lucrative profession.