Navigating the Transition From Employee to Broker with Staci StanleyOct 18, 2022
Making the switch to entrepreneurship was a bold move for Staci Stanley. Once she saw an opportunity to leave her corporate job, she got her execution strategy ready, handed in her company laptop, and started her own LLC. Now, she’s using her 20+ years of mortgage lending experience to help people get the best mortgage rates in Colorado. Listen in as Staci shares the greatest lessons she has learned (and is still learning) throughout the transition from mortgage retailer to broker with The CoLab hosts, Megan Marsha and Andres Munar.
The #1 thing that prevents people from starting a business is fear. Since entrepreneurship isn’t for everyone, how do you know if you have what it takes to run a successful business? For Staci Stanley, it doesn’t take closing 100 loans for her to feel happy and successful. Making the switch to entrepreneurship was more about the freedom, flexibility, and limitless potential for growth. She’s been using that freedom to learn and grow as an entrepreneur and mortgage broker, so let’s hear what advice she has for people who want to do the same!
If you’re an employee in the mortgage industry and you’re curious about opening up your own brokerage, you’re in the right place.
Ready to dive in? Here’s what we’re covering in this episode of The Co/LAB:
- [02:28] The next few episodes will be showcasing unique business owners in the mortgage industry and the tactics they’ve used to overcome fear and successfully start and run their own business.
- [06:39] Megan and Andres have created a NEW course - My Broker Fast Track – which was created for mortgage loan officers who are either sick of the corporate life or want to start their own business.
- [07:50] Introducing Staci Stanley, the Owner of Access Home Loans, a Colorado-based company providing opportunities for low rate, hassle-free mortgages for buying or refinancing a home. Listen in to learn Staci’s background in mortgage lending and why she chose to become a broker.
- [10:46] You must balance the risk and the reward of staying an employee versus starting your own business. Staci breaks down how she overcame the biggest risk of opening a brokerage.
- [17:38] Embracing the broker lifestyle and being a solo broker were the biggest challenges she experienced (and still struggles with) as a new mortgage broker.
- [21:07] “Before I became a broker, I did no more than $15 million in a year… my year last year was about $27 million.” — Staci Stanley
- [25:38] Staci sheds light on the expenses of a mortgage brokerage, from clients’ credit reports to marketing and technology, and how expenses might shape your business model. Plus, she speaks on why she’s starting to outsource some of her work.
- [29:42] What does the future hold for Staci and Access Home Loans? Up until now, it’s been all about money and financial stability for her… but now, it’s becoming more about maximizing her free time and decreasing stress.
- [34:38] As a broker, you’re in control… and there’s many benefits to that!
- [37:24] Do you wish you had made the switch to entrepreneurship sooner? Staci says yes and no…
- [39:55] There certainly are hurdles you have to just over to open your own brokerage, but My Broker Fast Track can help you avoid the most common mistakes people make in the first year of being a broker. Listen in to hear Staci’s top piece of advice for new brokers!