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Do you get frustrated when you spend lots of time working with a prospect, sharing your knowledge and advice but they don’t end up doing business with you? It’s irritating isn’t it… almost enough for you to never share so freely again? The Law of Reciprocity suggests that if you go out of your way Read the full article…

What a great lead generation tool

Posted by Jul27, 2012 Comments (5)
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We all know repeat and referred business is awesome. It’s profitable and enjoyable working with people we already know and like. Want more? Of course you do! One of the key disciplines of getting more repeat and referred business is maintain contact with your client base. But it’s more than that. I believe you must Read the full article…

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A broker charging a fee-for-service/advice is a hot topic of conversation at the moment so I thought I’d share my insight. [note: I am talking about charging a fee for advice in addition to receiving a commission – not in replacement of commission] I think that until a client has to reach into their pocket Read the full article…

Do our clients really know?

Posted by Jul17, 2012 Comments Comments Off
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One of our biggest challenges as mortgage brokers to the balance the competing priorities of: • Taking accountability for getting the job done (loan settled); and • Educating the client about what we can and can’t control. I was reminded of this tug-of-war today while reading Seth Godin’s blog (anyone that knows me knows that Read the full article…

It’s the leads you say ‘no’ to that matter

Posted by Jul15, 2012 Comments Comments Off
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For a long time I have said that the amount of profit that a broker makes is mostly determined by the leads (prospects) he’s decided not to peruse, not the ones he does. Our industry is characterised by the “win some, lose some” methodology. That is, some deals are very profitable because they don’t take Read the full article…

Building a profitable broking business is all about R & V

Posted by Jul06, 2012 Comments Comments Off
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In life I think we tend to unnecessarily overcomplicate things. It has been reported that Sir Richard Branson likes to see business plans that fit on one page. I think the reason for this is that it forces people to communicate in simple terms and simple business models tend to work the best. I think Read the full article…

Why the banks can’t compete with brokers

Posted by Jul02, 2012 Comments Comments Off
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I read with great interest an article written recently by Stuart Grimshaw, the CEO of Bank of Queensland (BoQ). I was particularly interested for two reasons. Firstly, I’m a student of the Net Promoter Score methodology and have recently implemented it in my business (more on this later). Secondly, the reasons he cited for why Read the full article…

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Recently, I was asked to nominate three activities that are common traits of high performing mortgage brokers. It is both an interesting and thought-provoking question. Typically, our greatest learning’s come from studying the habits of successful people. Often, it’s the small things they do consistently (i.e. daily habits), rather than spasmodic genius, that have the Read the full article…