MReport November 2021

TheMReport — News and strategies for the evolving mortgage marketplace.

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20 | M R EP O RT FEATURE When It's Time to Take the Next Step, Step Carefully For mortgage professionals, the decision to switch companies must be accompanied by an understanding of what you're looking for. By Paul Buege " K nowing when to leave may be the smartest thing anyone can learn," sang Dionne Warwick in one of Burt Bacharach's classic tunes, and truer words have rarely been sung. It's a sentiment that certainly applies to our industry, where loan officers frequently jump ship in hopes of finding greener pastures. Of course, the decision to switch companies isn't always that hard. The more difficult decision may be figuring out where you want to take your talents. Every company has a different culture and different ways of doing business. With a shift- ing market after a year and a half of disruption, making the right choice may seem more challeng- ing than ever. But it can be done. Signs It May Be Time to Move on B ranch managers and loan officers move all the time in our industry, and changing mortgage companies can be nerve-wracking even during normal times. That's why it's critical to know when—and why—it's time to make a switch. Of course, the easiest reason to switch employ- ers is when you're at a company that's floundering or about to go under. Today, however, the majority of mortgage lenders are doing quite well, so the decision to switch companies usually boils down to whether or not you feel happy and supported in your current role. Loan officers may become disillusioned with their employer for all kinds of reasons. One of the biggest and most hurtful reasons is not feeling valued by management, or feeling as though your skills, knowledge, and experience are being taken for granted. Of course, most lenders don't intend to make their people feel this way, but if they aren't putting constant effort into making their people feel valued and empowered, loan officers and branch managers can become disheartened. Many loan officers leave their current company after realizing there's no room to grow. This is quite common at companies that don't invest in their employees' ongoing training or professional development. Probably the biggest motivating factor behind making a move is when your job affects your personal life. As much as people may try to sepa- rate their personal and professional lives, it can be difficult to do so in practice. After all, we spend a significant amount of time and energy at our jobs. If you're unhappy at work, your personal life will likely suffer as well. Often the writing on the wall appears on Sunday evening, when you find yourself dreading going to work the next morning. Or it may boil down to a single moment of clarity while on the

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