He joined a program and now mentors many brokers each month…and the number is growing
Peter Ellis is a seasoned broker who operates his own brokerage but has always yearned to get off the tools and work on helping people grow their own businesses.
“I had done the hard yards building Lending Mate — from marketing, strategic plans and systems and processes while picking up many good and bad things along the way — so I wanted to pass my experience to others so they could learn,” Ellis told MPA.
A BDM acquaintance heard about a job opening for a National Credit Coach at More Than Mentoring and asked Ellis to apply, so he did. Ellis became the stand-out candidate and took the position.
Raising the bar
Launched by Therese O’Neill ten years ago, More Than Mentoring, originally called Alphabroker, has successfully mentored over 300 brokers. With the vision “to ensure every broker possesses the knowledge, skills and motivation to build a sustainable, profitable and ethical mortgage broking practice,” More Than Mentoring puts participants through a variety of activities, such as marketing workshops and online trainings on lender policies, to educate them about finance, self-investment and building strategic partnerships.
“We are aiming to raise the bar, striving to ensure new brokers are professional, disciplined and equipped with the optimum skillset to build a prosperous and resilient broking company,” Ellis said.
“Additionally, we provide established brokers with access to the best resources to grow and adapt their business in a rapidly changing financial landscape.”
According to Ellis, More Than Mentoring is “uniquely structured” to meet the broad needs of today’s mortgage broking businesses. As an accredited mentor and national credit coach, he educates, inspires and, most importantly, supports new industry entrants and experienced mortgage brokers to build a profitable sustainable enterprise.
Ellis added that brokers highly appreciate mentors who are always ready to assist and can easily be reached when brokers are going through a slowdown or just flat-out perplexed.
“Brokers may get a deal but have no idea how to structure it or which lender would they consider for the client. Having us on the end of the phone or email, they can navigate the deal,” Ellis said. “Knowing we are there to be an extension of their business, to offer support and valuable training in all facets of lending and marketing and to validate deals before submitting to a lender is imperative in a changing lending landscape.”
Ellis has already mentored numerous brokers over the years but continues to add new mentees each month via the program. And the number is growing.
“In a forever changing industry, being able to assist and work closely with all mentees to build the life they dreamed of when they first became a mortgage broker is my greatest achievement,” Ellis said.