Whoever creates the transaction is in control

Posted by Apr04, 2017 Comments Comments Off
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Are you an order taker or order maker? Put differently, do you spend most of your day taking instructions from clients or giving them to your clients? The latter is more enjoyable. When you are an order maker you can spend all your time and energy on making sure you deliver the best advice and Read the full article…

Keep doing the hard work of raising the bar

Posted by Dec15, 2016 Comments Comments Off
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There are three categories of brokers: Order takers – these brokers are selling a commoditised product. That is, their service offering is mostly based around the promise of saving time and getting the lowest interest rate. They spend all their time chasing transactions, not relationships. Commoditisation fighters – these brokers understand that competing on interest Read the full article…

How to deal with a bad day as a broker

Posted by Nov22, 2016 Comments Comments Off
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I recently read this blog by Seth Godin and it was a good description of what it feels like to build a broking business. It can be a hard slog at times and some days you just need to hang in there. For example, yesterday a lender clawed back commission on a $2.5 million loan Read the full article…

Getting more clients to say yes to your emails

Posted by Aug23, 2016 Comments Comments Off
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I believe that you should spend almost as much time on an email’s subject line as you do on writing the actual email itself. The strength of an email’s subject line will determine if it gets read and opened. It’s the first thing the client will read and sets the tone for the rest of Read the full article…

How much advice should you give for free?

Posted by Jul15, 2016 Comments Comments Off
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One of the challenges with being remunerated entirely by commission is the risk that clients do not value and respect your time and advice – because they aren’t directly paying you a fee. This can be one of the frustrating things with being a mortgage broker. How much free information and work should you give Read the full article…

Lazy brokers fail because they fail to…

Posted by Jun15, 2016 Comments Comments Off
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How many hours per year do you spend on trying to win new business and generate more leads? It is not unusual for a broker to spend over 2,000 hours per year on these activities. How many hours per year do you spend on training? Most brokers would spend less than 10 hours per year Read the full article…

The art of doubling your settlements with less work

Posted by May23, 2016 Comments Comments Off
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I believe that almost every broker in Australia could double their settlements without working anymore hours. I know. It sounds like a big statement doesn’t it? But read on because I’m going to give you some practical examples. Before I get to the practical examples, it’s important that you understand that there are three steps Read the full article…

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Many borrowers have been trained by the media and their well-meaning friends that the interest rate and fees are the only important things to consider when selecting a mortgages. However, experienced brokers know that interest rates and fees are only two of many (often) equally important factors. The art of avoiding conversations about interest rates Read the full article…

Building good working relationships with clients

Posted by Feb09, 2016 Comments Comments Off
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By Scott Matthews, the founder and Managing Director of Finance Life I have been a broker for 13 years. In that time I have settled some $500m in loans, worked with thousands of clients and had a great time doing it. I believe the key to being successful is enjoying yourself and what you do. Read the full article…

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I believe that your success as a broker depends a lot on picking which are the right prospects to work with and not wasting time on the wrong prospects. The right prospects/clients in my opinion are ones that value what you do, respect your advice and want to build a long term relationship. Let’s assume Read the full article…