Direct selling is a business model, where mediators like DSA agents connect buyers to sellers. They take a cut from the product’s total price in exchange for their services. In a financial institution, a loan agent is responsible for guiding loan applicants through the paperwork process. One major advantage of why more women should consider building a career as a loan agent is the kind of flexibility it offers in terms of work-life balance. Read on to know more about loan agents, the kind of benefits they have, what their typical workday looks like, and so on.
Benefits of working as a DSA agent
Working as a DSA agent is quite a lucrative career option for women, owing to their flexible conditions and handsome pay. Here’s a quick rundown of the benefits of working as a loan agent as a woman.
- Flexible working conditions: One of the biggest advantages of working as a DSA agent is the ability to set your working hours. It is a blessing for women, as most of them have to juggle multiple responsibilities. DSA agents only have to sell their lender’s products. They can conduct virtual meetings with their clients or meet them in non-work environments like cafes and restaurants. You do not have to report to the physical branch of your bank or NBFC every day.
- Unlimited income potential: A UN Women survey revealed that for every dollar that a man earns, a woman earns 77 cents. If you work as a loan agent, you have no limit to the amount of money you can earn in a month. A loan agent’s salary depends on the number of loan products they sell, hence if you have resilience and persuasion skills, you can leave any man in the dust.
- No initial investment required: The best part of working as a loan agent is that there is no meritocratic gatekeeping in the DSA industry. You do not need any professional qualifications to work as a loan agent. It is especially beneficial for women who may have taken a career break, need to pivot to a new line of work, or may juggle personal and professional commitments at once.
- Training and support: Reputed lending firms invest time and effort in training their employees and helping their DSA agents develop communication and negotiation skills. In the long run, these best practices end up benefiting the firm as the loan agents can convert more prospects into potential customers. Lenders like Andromeda Loans often conduct extensive workshops and offer many learning opportunities to their loan agents.
- Good networking opportunities: You can also build connections and pitch products at industry events as a DSA loan agent. If you, as a woman, want a platform to voice your thoughts, support a cause, or build a community of like-minded, passionate workers, you can attend networking events in your industry. Most reputed lending firms receive invites or host these events. You can also meet other experienced senior professionals in the DSA industry and ask for their guidance in advancing your career.
- Personal skill development: Working as a loan agent can help women develop core skills and values. A loan agent must cohesively present their ideas to make sales. They must persist and continue to pitch their products. These practices help them build up leadership skills. Direct selling also helps women build a team, create additional streams of income, and polish their negotiation skills.
- Empower other women: Although direct selling is vastly different from multi-tiered marketing schemes, you can teach other women communication skills and help them earn an income as well. You can spread the word about your lending institution and pass on recruitment opportunities to your fellow sisters.
- Build a community: Working as a direct selling loan agent is one of the best ways to build a community of passionate and driven women. If you have always wanted to establish a platform for women to learn marketable skills and earn a decent income, work as a loan agent, and spread the word.
As a DSA agent, you have to communicate and pitch your lender’s loan products to others. You can offer valuable tips through your digital platform and establish yourself as a thought leader in your niche. Not only would you influence and inspire other women to become financially literate, but you would also make sales.
- Ability to make a positive impact: Unline what society tells us, men are not the only ones capable of handling taxes. Working as a DSA agent will help you to work closely with other women, help them become financially literate, and make better investments with their money. Working as a loan agent can be quite rewarding and allow you to positively impact many lives.
Things to keep in mind
Loan agents are typically viewed as independent contractors, hence they are not eligible for full-time employee benefits in most cases like paid time off, health insurance, retirement plans, and so on.
Make sure to thoroughly research employee practices and check your lender’s reviews online. Unfortunately, scamming and multi-level marketing schemes are rampant in today’s world. Furthermore, make sure to check the lending firm’s reputation and its principles and consider whether their products are in line with your expectations and values.
There are no such major drawbacks if a woman decides to pursue a career as a loan agent. However, one requires a strong work ethic and negotiation skills to succeed as a DSA agent. You have to convince your customers to invest in a product, and more often than not, you have to actively follow up with them and pursue them to make the purchase.
If you want to work as a direct selling loan agent, choose a reputed lending institution. A well-known finance firm offers safe working space, better opportunities, lucrative working conditions, and a more generous stipend. Andromeda Loans is one such lending firm that combines cutting-edge technology with financial expertise. They are a safe space for women to work. They offer quick loan disbursals with minimal paperwork. If you partner with Andromeda Loans, you will be able to offer competitive interest rates and a range of in-demand financial products for your customers.