Deciding to become a commercial loan broker is the first big career decision you will make. It’s important to do your research when comparing commercial loan broker training programs on the market. Who you partner with to launch your brokerage will impact your business and your life for years to come. This decision is important enough that you need to get it right. Each launch program is unique.

It’s important to look closely at the details. If you don’t focus on the details, you won’t see them. Looking at the details takes time, but focusing on the details is the only way that you can answer the critical question: Which program is the best fit for me?

We can’t tell you which choice is right for you. It needs to be based on your personality, your professional experience, your current knowledge of financing, your business plan, and many other personal factors.

What we can do is help you to save time and to increase accuracy when you are sorting through the details. This article is here to help you to collect all of your essential information. Our goal is to guide you to get a clear understanding of the myriad of differences between programs, and to confidently make the decision about which launch program is the best fit for you.

What You Should Look For

There are many components of a commercial loan broker training program:

  1. What’s included in the actual training: Although it may seem rather straight-forward, asking basic questions is a great way to feel out the training program you’re interested in. There are a lot of different variables that can change depending on which training program  you choose. That’s why it’s important to ask as many questions about the course, its instructors, what’s included, and about the cost and payments. A great way to get answers to your questions is to give the company conducting the training a call and ask to speak to the CEO if possible. If they cannot connect you with the CEO, or take the time to thoroughly answer your questions, then it’s a safe bet that their training program is less than desirable. They should be dedicated to making you feel confident about your choice and to reassure you that they are the best in the industry.
  2. Branding: Branding is essential for when you are ready to launch your brokerage. Ensuring that your training, branding, and marketing are all done in-house makes everything comprehensive and melded together seamlessly. Part of the branding and marketing aspects you want included are custom logo design, custom website design, and business card design. Having these things given to you at the end of your training will make launching your brokerage that much easier.
  3. Marketing: Marketing is one of the most arduous parts of owning your own business. It requires a lot of time and sometimes money to get your business’ name out to potential clients. That’s why you want the loan broker training program to include marketing in the sticker price. Making sure they give you the tools you need to market yourself effectively and efficiently is key. Things you want included are a CRM, email marketing and blog. It’s a good idea to also ask how much it will cost to continue ongoing marketing.
  4. Mentoring: Are you provided with a mentor to help you get your footing in the loan broker industry? The most successful business owners say that having a mentor has significantly contributed to their success. You could have the best training with all the resources at your fingertips, but another person’s tried and tested wisdom is priceless. Make sure a mentor will be available to you once you complete your training.
  5. Other tools and resources: Having bonus tools and resources at your fingertips will only make your new business that much easier to navigate. Will you be provided with agreements, training manuals, leads, or presentations? These extra tools and resources will help you with any questions that may arise when working with a client.

As you can see, comparing different loan broker training programs may not be as easy as it seems. You should ask lots of questions to get the best idea of what to expect. It’s important to do your due diligence to ensure you are prepared to head your own brokerage on your own. Choosing the right training program ensures success for years to come.

What The Institute Provides You With

The Commercial Loan Broker Institute is dedicated to providing the highest quality loan broker training program available. We not only give you the knowledge and education you need, but also all of the tools and resources to help you gain success in the finance industry. To learn more about the commercial loan broker training we offer, please click here.