Top Things That Have Changed in 2022

The industry has experienced exponential growth in the past 12 months; however, that’s all about to change! The lending environment is shifting, so brokers need to keep up with what’s ahead. 

• A busy year for the industry meant an emphasis on recruitment, but finding the right staff wasn’t always easy. Taking the time to slow down and focus on recruitment to grow, retain, and perform will be essential moving into the new year.
• Focus on your employee/employer value proposition and workplace culture to make sure you’re attracting the right people to your team.
• The wild ride that was 2022 — in terms of loan volume and borrowing capacity — is coming to an end, so brokers will need to look for other strategies to grow their business. 
• Brokers who haven’t experienced a rising rate environment need to upskill to have the right knowledge and education to support their clients. 
• Choose the right technologies to improve your business, client experience, and efficiency, but remember the value you bring that tech can’t.
• Mental health, diversity, inclusion, and work-life balance are top priorities for brokers — we must continue to build awareness in these areas.
• A changing market means more brokers are paying attention to lead flow and are investigating better processes to gain new leads. 
• Expect to see more consolidation of businesses in our industry next year as sole operators find it difficult to keep up with compliance requirements.

Key Quotes

“Recruitment isn’t the call to action; it’s merely the process for the call to action, which is employment.” — Ruan 

“When you’re desperate to hire is the worst time to hire.” — Marissa 

“The fixed-rate avalanche is coming, so brokers need to know how to advise and educate their clients.” — Ruan 

Thank You To Our Hosts: Ruan Burger and Marissa Schulze

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