So she started off low, helping Boye with marketing. Gradually, she warmed up to the idea of being a broker. “I immediately fell in love with it,” she said. “Not that I was good at actually doing the job, but I could figure out how to do it.”
She credits Boye with allowing her to learn at her own pace: “I’ve been allowed to fail a lot,” she said. “He’s allowed me to learn by making mistakes.” Phelps noted she also had to mull over the offer to co-own the shop even as she excelled in her new role as a broker. “I was hesitant because it’s a big deal,” she said. “There’s money involved, and then there’s the team dynamic. It was something I really had to think about.”
She said it’s become one of the most rewarding things she’s ever done. The confidence is reflected in the $150 in volume across 427 loans the shop posted last year. Consistent growth also illustrates the team’s success, Phelps added, noting the firm had a 5% increase in market share (up from 2% the prior year), and 18% volume growth in 2021 from 2020.
“I owned a small marketing company before I started at Black Diamond in 2015,” Phelps recalled. “But I had little to no support and could not continue with the company. The growth we have had at Black Diamond Mortgage has been phenomenal! We have an amazing team and processing system (CRM, or Customer Relationship Management system) and my decision to become co-owner was based off my incredible business partner David Boye, who has taught me everything I know.”