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By Top Broker Mortgage Brokers looking to Settle More Loans
The podcast currently has 24 episodes available.
Peter Switzer is back for part two of his talk with Jayden Vecchio about the Royal Commission. In this episode, Peter gives us some practical tips on dealing with the changes from the Royal Commission.
By the end of this episode, you'll be ready to put some changes into action!
Peter speaks about:
In this episode, we're speaking to Peter Switzer as he goes through how the current situation with the Royal Commission mirrors what happened a few years ago with his financial planning business.
Peter Switzer talks about:
In next week's episode, Peter is going to go through actionable strategies with us to get on top of the changes with the Royal Commission.
This week we have Lloyd Thomas the director of business and product development at Direct Property Network based in New South Wales and broking for over 19 years. He’s consistently settling over $100Mil.
In this episode, we look at how to create a solid business, which is built on solutions. We discuss the different ways to differentiate yourself from the competition. By the end you’re going to feel charged, buzzing to get out and implement everything you’ve learnt.
What makes a successful broker?
Knowing your craft is key. It's the difference between someone joining you and your business and sticking around, or working with you then moving on to someone else.
If you find you're losing your clients a lot, it means you don't know your craft enough. You've got to be solution orientated and listen to exactly what they need and discuss it thoroughly.
What solutions are clients after?
A lot of brokers think clients are only looking for good rates, but often it's more than that. Speak to your clients and make sure there aren't issues outside of a good rate that need to be dealt with, like an offset account. It's not just about a product that's going to suit the client's circumstances.
What's your main point of difference?
We are strategic about what we do and not transactional. It is very strategic what we do with people.
This gives our clients comfort and helps their achieve their goals.
What happens once the loan settles?
We've got a post-settlement team, and I tell people when we first sit down about how we pace out the relationship and what will happen. It's not about just a once off relationship it's about a slow burn, long-term process.
An ongoing relationship and I always let them know I'm only a phone call away.
Over the last 20 years, you've gone from three to 60 staff members, how did you manage this?
Well, it's been over a period of time, but we've learnt to hire great people that are good at doing what we aren't good at. I've got great business partners and it's about our journey together.
A lot of brokers don't know when to add more staff, what are your thoughts on this?
In some ways, you need to put them on before you actually need them. But you've got to know what you're good at. For example, I hate admin it's not my strength so I'd employ someone tomorrow to do that.
When you did this, what did it do to your business?
It grew! We're also really selective about who we hire. I want to know who they are as a person and whether they'll fit the culture and not just do the job.
What makes a successful broker?
In one line, I would say - don't stay home. A lot of brokers try to do everything at home but it's important to get out and get those referrals, staying front of mind for the product you're selling. I ask myself, would I pay me today? Did I bring in income today? That's the key.
What are the three key activities brokers should be doing day in, day out?
You should be calling people! I don't have many quiet moments where I'm just driving or listening to the radio, I think of it as part of my office and will organise meetings while I'm driving.
Next is making lists, I like making a list of who I need to contact, then I prepare who I need to see.
Finally asking for referrals. I'm constantly training my clients to help them refer me.
The main takeaway points from this episode are:
This week we have Jeremy Fisher, managing director at 1st Street Financial, based in New South Wales and Australia’s most awarded broker. Consistently writing over $300Mil year in year out. With his company’s loan book in excess of $4.5Bil he would be Australia’s most successful broker.
In this episode we look at how to build your referral partner network and discuss strategies to help implement success. By the end of this episode you’re going to feel unstoppable and ready to take your business to the next level.
The main takeaway points from this episode are:
The podcast currently has 24 episodes available.