Community/When did you hire your first employee and what did they do?
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Angela Russobroker
Sep 13, 2025 at 8:00 AM
When did you hire your first employee and what did they do?
I'm at the point where I'm turning down deals because I don't have bandwidth. Closed 18 deals last year, on pace for 25 this year. Thinking about hiring someone but not sure what role makes the most sense first.
Options I'm considering:
1. Loan processor (handles doc collection, follows up with borrowers)
2. Marketing/admin assistant (handles lead gen, scheduling, paperwork)
3. Junior broker (brings their own deals, I mentor them)
What did you hire first and would you do it differently?
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8 months ago
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6 Replies
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Ron CastellanobrokerSep 13, 2025 at 10:00 AM
Angela, I hired a loan processor first in year 3 and it was the right call. The processor handles everything after the term sheet is signed: doc collection, lender follow-up, title coordination, closing prep. It freed me up to focus on origination and relationship building, which is where the money is.
I did NOT hire a junior broker first because managing someone else's pipeline before you have your own systems dialed in is a recipe for chaos.
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Jerome ButlerbrokerSep 13, 2025 at 12:00 PM
Processor first, 100%. It's the highest leverage hire. The tasks they take off your plate are time-consuming but not revenue-generating. You should be spending your time on origination and lender relationships, not chasing docs.
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Adriana PerezbrokerSep 13, 2025 at 2:00 PM
i hired a VA (virtual assistant) first because i was scared to commit to a full employee. it worked ok but honestly i should have just hired a real processor. the VA couldn't handle the complexity
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Norma VasquezbrokerSep 13, 2025 at 4:00 PM
I hired a junior broker first and regretted it. Spent more time managing them than closing my own deals. Processor was my second hire and I should have done it first.
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Angela RussobrokerSep 13, 2025 at 6:00 PM
This is really helpful consensus — processor first. Any advice on what to pay? And do you hire W2 or 1099?
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Ron CastellanobrokerSep 13, 2025 at 8:00 PM
@Angela — I pay my processor $55k salary + small bonus per closed deal. W2. The 1099 route is tempting but good processors want stability. If you want someone committed, pay them like it.