The New generation Finance Professional

Unprecedented recent market forces have changed the landscape of the finance Industry forever, aggregator consolidations and acquisitions, increasing interest rates, a slowing housing market, finding new clients more cost effectively whilst commissions are being slashed and lenders paying trail only to those brokers that will be committed to their client for a lifetime are all impacting mortgage broking revenue streams.

Lenders are now making mortgage brokers commit not only to the industry but to the very heart of why we are all here…The client! It is now imperative that a mortgage broker implements and develops unparalleled client contact strategies that deliver rapid gains in customer satisfaction, loyalty and profits along with a growing trail book that will not only guarantee your place in the future world of new generation broking but also have the added benefit of making impending industry expectations and regulations redundant.

“The Work Nobody Wants To Do!”

While most mortgage brokers agree that ongoing client contact strategies are necessary and vital to future successes, most have not found neither the time nor the impetus to initiate the necessary strategies. As a result 95% of mortgage brokers now have their desk drawers, filing cabinets, CRM’s, storage boxes, excel spreadsheets, garages, desks and manila folders full of clients, prospects, referral partners and opportunities and despite all good intentions, they just won’t attend to ever. Many just begin to see the effects of what doing little or nothing to protect their business and trail book is having until its too late.  

Managing and growing your sales pipeline is difficult and time-consuming and hinders you from doing what you do best; write more home loans; but it is the area that is neglected by most mortgage brokers at their peril as it is the area where the gold is found essential to driving both revenue and growth. However it is just impossible in this demanding market to have a mortgage broking business where you can service all the opportunities that arise by yourself and grow your business at the same time especially with lenders slicing commissions.

“The New Generation Finance Professional”

The Australian Mortgage Broking marketplace is now facing some important realities and your very future growth and existence is now about having a clearer understanding of the segments within your own data base and the development of mortgage propositions that are more precisely targeted to your clients, prospects and potential referral partners.

Going forward mortgage brokers who reinvent themselves as “project managers" for their clients major financial decisions will prosper from repeat and referral business.  The win-win situation is more productive and revenue-generating customers at exactly the right time to maximise your revenue and your productivity.

Skill sets are the actions, tasks, efforts you have to take to execute your business strategies. Planning, questioning, listening, Internet research, relationship building, networking, sales and marketing skills are all critical for the new generation broker if they are to set themselves apart from the order taking loan writer. If you are not where you would like to be in any of these or other areas, put a plan together to get the required training, or coaching or alternatively get someone else to do those areas you are least comfortable with.

If you don't, you are limiting your success, your income and your future.

More information is on the WIMBN website. Visit Increase your clients, Your trailbook and Your profits page...