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:

  1. 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.
  2. Commoditisation fighters – these brokers understand that competing on interest rates is a race to the bottom. They realise that they must offer their clients more value. Spend time and effort building trust and a personal relationship with their clients. And help them get closer to achieving their goals.
  3. The Top – these brokers are true champions – offering something so unique that they will almost never by commoditised. One such broker (in my opinion) is Chris Bates. I follow him on LinkedIn (see his posts here). He’s doing the hard work of trying to find way to help his clients daily. Endeavouring to ask his clients better questions. thought provoking questions.

FinTech is likely to dramatically change the financial services industry including the mortgage broking industry. If you are an Order Taker, your job will be replaced by a computer soon enough (although the good news is that I doubt many Order Takers would read a blog like this). Once the Order Takers are gone it will make it harder for the Commoditisation Fighters to earn a living. However, The Top will almost never lose their power.

That is why brokers like us do the hard work to raise the bar each and every day. Putting our clients best interest first. Focusing on solving their problems and adding as much value as we cane. Becoming a valuable resource. Keep up the difficult work on your ascent to The Top. It worth the investment.

This post was inspired by a recent blog by Seth Godin.

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