JP Hussey sits down this week with Daniel De La Torre of UMortgage. Daniel has only been part of the broker channel for a few months, but with a background in the retail mortgage industry, he brings a wealth of prior experience and keen insight along with him. The two discuss making the switch from bank to broker, the importance of the personal touch, and key advice to get started as a broker.

Daniel emigrated to the US from Cuba in 2004 and quickly found a job as a telemarketer. He began exploring mortgages shortly thereafter, but the market crash caused him to turn to real estate. In 2015, he returned to mortgages, and two years later, he was working in a bank setting. He says he only closed 1 loan his first year on the job, but through perseverance and persistence, he drove his numbers up to over 100 a year. He says the switch was brought on by a desire for independence, pricing flexibility, and product optionality. After years of being told that switching from bank to broker was crazy, he did the research for himself and decided to take the plunge. “It was the hardest career decision I’ve ever made, but I’m glad that I did,” says Daniel. “It’s important to make sure you’re associating with someone who can coach and direct you… knowledge is the most important asset.” 

According to Daniel, his process is not much different than most people’s. What separates him is his attention to detail and care for his clients. For example, he recommends using a service to send personalized cards and gifts to clients as a way to reach out to past contacts. An initial call enables him to check in and see if a client will be a good fit, and from there, it’s the VIP treatment. “In the past, we didn’t have time to make the calls… now that we do, we have to take the time.” He also stresses the importance of getting back to realtors and continuing to both learn and teach mortgage information. 

When asked what he would tell a newcomer to the channel, Daniel had some great advice. “You need to figure out what you want to be. Do you want to own your own shop? How scalable do you want to be? From there, you can learn the right channels and choose your platform.” 

Times: 

Background – 2:00

Making the Switch – 5:00

Process – 20:00 

What should everyone be doing? – 26:00

Advice for people making the switch – 31:00

Closing advice – 34:00

This Episode is Sponsored by 20/20 Vision for Success Coaching

The post Making the Switch from Banker to Broker (with Daniel De La Torre) – Episode 128 appeared first on AIME.