“Increase Your Clients, Your Trail Book and Your Profits” 

 “Unprecedented market forces including Australia being the most mortgage stressed country in the world, home loan affordability at its lowest levels since records were kept and interest rates at a ten year high make it essential a Mortgage Broker keeps in contact  with their clients and prospects now more than at any other time since the deregulation of the finance industry.”

 Stephanie Kennar, Manager WIMBN.

“Increase Your Clients, Your Trail Book and Your Profits”

Welcome to “Increase Your Clients, Your Trail Book and Your Profits” which has been designed and will be continually developed specifically for WIMBN members to assist them in areas such as chasing and tracking customers, finding referral partners, systemising their business and developing new marketing campaigns that will give our members a significant competitive advantage over the rest of the mortgage industry.

Download the "Increase your Clients..." workbook here >>>> 

Keys to a Mortgage Brokers growth

     >    The best rate.
     >    Great service.
     >    Unlimited product knowledge.
     >    Being able to make a loan calculator perform incredible magic tricks.
     >    Making personal contact with existing clients and recent settlements to say “Hi”.
     >   Updating contact details.
     >   Discovering any new needs for finance and inviting review contact as well as asking for referrals.
     >   Sending e-mails and designing letters that can be used for client contact.
     >   Partnering with passionate referral networks.

This is the area that is neglected by most mortgage brokers at their peril but it’s the area where the gold is found essential to driving both revenue and growth with many brokers finding themselves "time poor" whilst others agree that implementation of client contact strategies is vital, but just can't get started. 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.

Welcome to “MST Active”

To this end WIMBN are pleased to introduce “MST Active” who are a client contact management company concentrating in the mortgage industry and who specialise in finding and converting prospects into clients as well as maintaining client databases and cultivating potential referral partner relationships that can help a mortgage broker build a sustainable new business pipeline.

 “MST Active” pays close attention to your prospects, referral partners and client’s buying cycles which means you spend less time calling and qualifying prospects and more time writing new home loans.  This ensures that even if you don’t get the deal you were counting on, you will have other opportunities that will be ready to close, which in turn increases your trail book and your profits.



Click the link to a short demo that takes you through the step by step process of how “MST Active” manage the buying cycle of a Mortgage Brokers clients, prospects and opportunities and referral partners.

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The Changing Face of the Mortgage Broking Industry

Toto, we’re not in Kansas anymore!
The demise of the "hit and run" Broker  
The Achilles Heel of the Mortgage Broker
If You’re not talking to them……
Building an Effective Referral Base
Why is Database Mining so important?
Partnering with “MST Active”
 

Toto, we’re not in Kansas anymore!

The best rate, great service, unlimited product knowledge and being able to make a loan calculator perform incredible magic tricks are now merely the qualifications for entry into the marketplace; If you have them, you're a contender; if you don't, you're history. Of course people want the best rate they can get, however borrowers want to know their mortgage broker is there to ensure appropriate strategies are in place for them and not just to provide the finance. We are now experiencing the lowest home loan affordability since records were kept, where we are the most mortgage stressed country in the world and a 12th consecutive interest rate rise which has left many brokers scrambling for answers.

Going forward borrowers want to know their mortgage broker is there to ensure appropriate strategies are in place for them. Mortgage Brokers in an effort to reinvent themselves are now looking for products, services and business partnerships that fit their new world.  The Broker now needs to be their clients mentor on specific financial matters they would like to understand in more depth as well as their Project Manager to co-ordinate the relevant professionals required to address their specific personal needs.  This is now a part of the skill set that the new generation mortgage broker will need to possess to set themselves apart from the order taking loan writer.

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The Demise of the "hit and run" Broker  

The landscape of the Mortgage Industry is changing faster than ever. For those who rely on constant stream of new clients, without an ongoing client acquisition, retention and cultivation strategies, survival and growth will become increasingly more difficult as the "hit and run" Mortgage Broker risks becoming less relevant to an increasingly savvy consumer.  

The biggest weapon most brokers have had in the past was the promise of a cheaper rate. That is now gone and brokers realise they now have numerous clients and potential referral partners with which they have provided little or no client service to but they also know that their future growth and very existence lies in the cultivation of these very same customers.

Until recently, many Brokers have been able to prosper while delivering a passive or reactive approach to client servicing.  By this I mean that Brokers have been able to provide service to their clients when they ask for it, but few have taken the necessary steps to really know their clients and implement client acquisition, retention and cultivation strategies that maintain regular contact and in the process become their clients "trusted adviser".  

The "hit and run" approach will now no longer sustain client relationships and trail books, particularly in light of the increasing contact activities being undertaken by the Majors and other Brokers as well as the accelerating movement in the Aggregator market, which has the potential to eat away at your client base and income. There is considerable debate as to the value and viability of lenders paying Trail Commission, particularly when so many clients do not receive ongoing service from their Broker.  

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 The Achilles Heel of the Mortgage Broker

The “Achilles heel” of most mortgage brokers is not creating enough new opportunities on a routine basis to satisfy their needs. In today’s increasingly tough mortgage market, it is impossible for mortgage broker’s to write the significant amount of home loans they want to, as well as have the time to be able to prospect sufficiently for new opportunities by themselves. Understanding client buying decisions, their buying cycles as well as what factors impact each, are now essential elements in the growth of a mortgage brokers business.

Borrowers are now more knowledgeable and willing to shop around and the major banks are now working harder on client acquisition campaigns and aggressive client retention strategies. In a world of dwindling trail books, for most mortgage brokers, it’s a matter of knowing what needs to be done, knowing what should be done but not having a clue where to start. Knowing what information your clients want and delivering it, means to them that you actually are listening to their needs, which means to you, stronger client retention and a “Client for Life”.

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 If You’re not talking to them…

Today, the single most important ingredient to your successful future survival and growth in the mortgage industry will be determined by the quality and strength of your client relationships. By consistently responding to and acting on client feedback, true value is created in the eyes of clients, resulting in very satisfied and extremely loyal clients who will more than likely continue their profitable relationship with you as well as referring others to you with passion.

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 and opportunities, 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.

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 Building an Effective Referral Base

I don't have to tell you how important referrals are to your business. As a business owner or an independent professional, you know that referrals are the lifeblood of your business. If that's really the case, why aren't you getting more referrals? As referrals are the most valuable source of solid leads, effectively gaining referrals is critical to successful prospecting. Simply asking if a client has any referrals often doesn’t get you anywhere. Approaching a client with a plan to get referrals is much more successful.

Developing and implementing various sales and productive value added strategies to assist in the conversion of passive to passionate Referral Partners is integral.  Taking advantage of every opportunity to meet people and creating referral situations in which information is passed along to you to acquire a “warm call” somewhere down the line, guarantees ongoing genuine revenue opportunities and referral partners who will continue to refer people to you with passion.

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Why is Database Mining so important?

Database Mining helps differentiate you from the crowd of your competitors; first, by the collaborative approach you will take with your client and finally by the business results that you create by providing a more personalised level of service.  By doing this, it allows you to focus your resources on efforts with the highest potential, which will in turn lead to improved client relationships, and to higher levels of loyalty and retention.

Data Base Mining means knowing your clients, their goals as well as their objectives then positioning your product and services as part of their success. This saves you money, time and effort. Finding a cheaper loan is pretty easy when rates are tumbling but when interest rates are on the way up like they are now then the rate centric mortgage broker will go the same way as the dinosaur. When the climate changed the biggest animal on the land refused to evolve and was quickly wiped from the terrain, never to be seen again.

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 Partnering with “MST Active”

“MST Active’s” client contact system “PALM” is fully managed by your own Personal Business Activator and gives today’s mortgage broker a clear understanding of where they are in the sales process and what it will take to advance every sale, which means you spend less time calling, less time qualifying, less time chasing finance opportunities, and more time closing them.

In order to protect and grow your business, your client base and your trail book, it is now critical to implement the strategies necessary to ensure that your clients know you, that you know them and are interested in their needs. “MST Active” with the help of your own Personal Business Activator, prioritises your business to focus on your client’s needs as well as your opportunities by implementing unparalleled client acquisition, retention and cultivation strategies.

Depending upon your specific needs “MST Active” will develop a customised strategy that meets and over achieves your objectives and your expectations which will enable you to make better business decisions, take the right responsive actions, and make rapid gains in client satisfaction, loyalty, revenues, and profit.

“MST Active’s” client contact system PALM gives a mortgage broker the security and control by knowing that every phone call and contact that is made on behalf of their company is accessible to them at the touch of a button.  The added bonus is that the broker is not spending valuable time doing any of the tedious prospecting work that is essential to driving revenue with only the hottest of opportunities delivered, freeing them to write more home loans.



Click the link to a short demo that takes you through the step by step process of how “MST Active” manage the buying cycle of a Mortgage Brokers clients, prospects and opportunities and referral partners. 

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