To help our members get to know one another, NRMLA publishes periodic Member Spotlights that feature professionals from across the reverse mortgage ecosystem.
Meet Garrett Duffy, a nationally recognized reverse mortgage expert with Norcom Mortgage. He is well known for educating seniors and their adult children on the facts about the product. He is dedicated to sharing the truth about reverse mortgages.
What has been your biggest professional challenge/obstacle thus far? How did you overcome/handle it?
My biggest perceived challenge in the reverse mortgage industry was my age; being 38. I initially thought seniors might find it challenging to accept a salesman half their age! I overcame this challenge by creating strong referral partnerships with attorneys. When an attorney recommends me to a client, the client tends to trust the attorney’s judgment, eliminating concerns about my age.
What do you consider to be your greatest accomplishment in your career to date?
We recently facilitated a reverse mortgage for a widowed borrower with the aim of assisting her in accessing funds for basic living expenses. She also wanted to have enough money to go out to lunch with her friends. A month after the closing she called me and invited me out to lunch. This experience served as a reminder of the meaningful impact we can have on the lives of our borrowers.
If you could offer one piece of advice to someone who wants to get into the reverse mortgage world, what would it be and why?
Go after lead sources instead of pursuing individual leads. Opting for individual leads secures a job, but focusing on lead sources ensures a fulfilling career. My primary referral sources include attorneys, mortgage loan officers, and bank branch managers.
Who has been a mentor to you in your career? How has their work impacted yours?
I am lucky enough to have John Luddy (the godfather of reverse mortgage sales training) as my mentor. He not only imparted product knowledge but, more significantly, taught me effective sales techniques. I am deeply grateful to John for his guidance, and together, we have fun selling reverse mortgages every day.
What do you like to do in your spare time? Do you have any hobbies or pursuits?
I spend a lot of time on and in the ocean. Whether it is surfing, paddling, or swimming, you can generally find me on or in the water most days of the year!