Six Simple Tips to Improve Your Business

You can propel your Mortgage Broking business to the next level this year.

To be a great broker and business person, you need to assess what your strengths and areas of improvement are. Then work on increasing your efficiency and developing your areas of improvements.

Here are a few great tips from successful brokers:

  1. Sales is about Service
    Remember that you are selling your services as a mortgage broker to your customer. This involves engaging with your customers and convincing them that you are able to help provide a solution to their needs. Your customers are looking for a flexible, knowledgeable and efficient mortgage broker who is available to assist them attain their goals. This involves appealing to the customer’s emotions, demonstrating that they need a specific product or features of a product and how they can benefit from it. Reassure them and communicate clearly how you are helping them save money or time to get them closer to their goal.
  2. Build good relationships with lenders
    Establish good relationships with at least 6 lenders, know their products well and use them to deliver value to your customers. By having a good relationship with lenders, you can find out crucial information in just one call e.g. processing/approval times which give you the ability to turn over deals faster.
  3. Use technology to support your sales
    Embrace new technologies to make your job simpler and decrease your admin load. Where possible try to remove paper processing and review if automation is possible.
  4. Network, network, network!
    Consistent and constant networking is of prime importance to build personalised connections and nurture the relationship you have with your existing clients to grow your business. Word of mouth and strong personal recommendations will generate quality leads and potential deals. Every point of contact be it a quick call, email, coffee meeting is an opportunity to build on your customer’s trust and follow them through the life cycle of their loan and changing property goals and needs.
  5. Training
    The industry is constantly changing and you need to keep up to date on the latest news and information. Put some time aside each day for this. It might be to browse through industry magazines, read enewsletters or attend a webinar at a time that suits you, from the comfort of your home or office.
  6. Up Your Drive and Passion
    Determination and passion drives success!
    We like to use the life changing train analogy here. Difficult times and feelings are tunnels and we are trains travelling through them. We have to move all the way through the tunnel to get to the calm, peaceful light and success which is waiting for us at the end of the tunnel. Through your journey in the tunnel, you may face a few bumps along the way but a determined and passionate broker thinks outside the box and keeps going.

Remember, you can also use a Deposit Guarantee to help propel your business to a new level.
Deposit Guarantees are a great tool to help your customers move on their property faster.
Use it as your unique selling point and get more settled loans applications.