So You’re a Mortgage Broker, Now What

As I looked though resumes yesterday, a good quarter of the candidates listed mortgage brokerage experience in one form or another. This gives me flashback’s of the late 1990’s, early 2000’s however that trend was people jumping in & out of IT.

Some candidates with mortgage experience ranging from a couple of years experience to ones with 10+. Most are applying management in retail with my company. These candidates often list salaries that more then double the highest end of my starting pay scale. Which, of course often immediately disqualify them. I do feel badly for them however, usually by the incoming resume competition alone, they are not the best qualified to run my stores.

I am sure that I have passed over high potential candidates wanting to change careers that may have actually been a great fit. Recruiters can’t speak with every candidate that applies, so we do our best to select the ones that appear to be the closest fit.

This year, I have hired several people that jumped on the real estate/ mortgage band wagon a few years ago. These candidates usually have a strong retail/ restaurant background to fall back on that does grab my attention.

These candidates are often a different breed then career mortgage brokers. They have worked the role your sleeves up, work 14 hours on your feet and go home smelling like fryer grease jobs. They just wanted a well deserved break.

I have noticed something else. Often these candidates left retail and/or restaurant with $ signs in there eyes and dreams of a 5 day, M-F, holidays off work week. They rode the high for a few years, now feel broke and defeated which often was no fault of there own. The mortgage industry is tough and highly competitive,
it is just in a different way then retail or restaurant. The veterans of the industry are taking a hard hit in this market so of course the newbies are.

I have also noticed something else about these returning candidates. Some candidates while searching actually realized what they missed about jobs in food/ retail service that they truly loved. Others just need a job in something they are qualified but are not necessarily passionate about it.

The real job as a recruiter is to distinguishing the truly passionate ones from the ones that just need a job for now. If you are a corporate recruiter, as you search resumes today, when you see resume with the most current position in real estate or mortgage don‘t immediately judge…look further down the page, you may find the candidate you are looking for.