Mortgage Broker Acceleration

Many cash flow-poor brokers make the mistake of buying leads as a last resort. Since they often lack effective processes to convert those leads, they fail to make a return on their investment. Remember that at the end of the day, there’s no point in paying for leads you can’t convert. But this doesn’t mean that brokers should never pay for leads. So, there’s really no one-size-fits-all approach here.

In this episode of Mortgage Broker Acceleration, James Veigli and Ash Playsted discuss when brokers should buy leads. Tune in to learn how paying for leads can be part of an effective business strategy – if your business meets specific criteria.

The Key Questions

• Why should brokers be aware of the ‘shiny object syndrome’ when considering buying leads? (2:50)
• When is it a good idea to buy leads? (7:57)
• Why is it that two companies who purchase leads of the same quality can still end up with different results? (9:40)
• What’s the caveat to making bought leads a part of your growth strategy? (18:10)
  
  

What You’ll Discover

• The common mistake that many struggling brokers make (3:35)
• The preconditions your business needs to meet before buying leads (5:14)
• What buying leads can and cannot do for your business (19:40)
• What you shouldn’t do when making your decision to buy leads (21:43)
  
  

Accelerate Faster

• You can visit Broker Ideas Group to learn more about us, access special events and download useful resources designed exclusively for mortgage brokers.
• Want to work with James, Ash and the BIG team to grow your mortgage business faster? Our Growth Coach team can help you. Let's talk!

You don’t create a content ecosystem for your mortgage broking business by just sending out emails and posting on social media. A content ecosystem is more like an elaborate spiderweb. It’s highly strategized, with multiple anchor points and subpoints. And everything is interconnected to serve a core purpose – catching prey. This means your content ecosystem is designed to attract and convert clients.

In this episode Mortgage Broker Acceleration, James Veigli and Ash Playsted share many practical tips about it. Their discussion focuses on how brokers can create their own well-functioning content ecosystems. Tune in to learn how to generate high-quality content that stands out from your competitors in a cost- and time-efficient manner.

The Key Questions

• What does a content ecosystem do for your business? (2:29)
• What constitutes good content? (6:36)
• Why do you need your content to go beyond you and your expertise? (9:16)
• What do people want from your content? (11:41)
  
  

What You’ll Discover

• The spiderweb analogy (5:13)
• A time-saving tip for content creation (13:01)
• The importance of putting yourself in your consumers’ shoes (14:01)
• How to tap into the power of storytelling (16:06)
  
  

Accelerate Faster

• You can visit Broker Ideas Group to learn more about us, access special events and download useful resources designed exclusively for mortgage brokers.
• Want to work with James, Ash and the BIG team to grow your mortgage business faster? Our Growth Coach team can help you. Let's talk!

How much should a mortgage broking business owner pay their staff? And how much should brokers pay themselves? Unfortunately, many brokers turn to generic answers (usually a pay range) when faced with these questions. But these generic numbers don’t take a business’s specific context into account.

In this episode of Mortgage Broker Acceleration, James Veigli and Ash Playsted discuss the answers to these questions. Instead of providing cookie-cutter solutions, they encourage brokers to think contextually. Tune in to learn how to rethink your broking business’s compensation philosophy and structure.

The Key Questions

• Why does the cookie-cutter approach to compensation not work? (3:20)
• Is money the top priority for your employees? (6:21)
• Should you pay a hired broker salary and/or commission? (8:12)
• Why is the money in your broking business’s bank account not yours? (14:20)
  
  

What You’ll Discover

• How to think about the salaries you offer for specific job positions (2:47)
• The importance of having a business succession plan (10:03)
• Approaching your finances as a business owner vs. self-employed person (16:06)
• Why brokers shouldn’t pay themselves last (17:15)
  
  

Accelerate Faster

• You can visit Broker Ideas Group to learn more about us, access special events and download useful resources designed exclusively for mortgage brokers.
• Want to work with James, Ash and the BIG team to grow your mortgage business faster? Our Growth Coach team can help you. Let's talk!

Are you familiar with the Theory of Constraints? This management framework posits that there is always one weak point in any system or machine. And until that specific constraint is fixed, that system cannot achieve significant progress.

In this episode of Mortgage Broker Acceleration, James Veigli and Ash Playsted apply this theory to mortgage brokers. Tune in to learn how to find the point of constraint in your mortgage broking business (it may even be yourself). You’ll also discover practical tips on overcoming common psychological and managerial constraints. That’s how you can unlock your ability to achieve continuous business growth.

The Key Questions

• How does the Theory of Constraints apply to mortgage broking businesses? (1:44)
• Why do many brokers find it difficult to identify their point of constraint? (3:04)
• How many brokers end up becoming their own constraint? (8:40)
• How should brokers fix the points of constraint in their mortgage broking businesses? (14:36)
  
  

What You’ll Discover

• The two weakest links that Ash and James often see (5:22)
• Why getting your system process workflow right is crucial (7:23)
• The critical difference between being a creator and being a doer (9:59)
• Three important areas that you should focus on (11:57)
  
  

Accelerate Faster

• You can visit Broker Ideas Group to learn more about us, access special events and download useful resources designed exclusively for mortgage brokers.
• Want to work with James, Ash and the BIG team to grow your mortgage business faster? Our Growth Coach team can help you. Let's talk!

The mortgage broking industry has gone through a few phases. There was phase 1.0 during the pre-internet era, then phase 2.0 after it. The industry only entered into phase 3.0 in the past 1-2 years. And brokers who aren’t aware of what’s to come are at risk of being outcompeted.

In this episode of Mortgage Broker Acceleration, James Veigli and Ash Playsted unpack the implications of phase 3.0. They take stock of how far the industry has come and where it seems to be headed. Tune in to understand how brokers need to adapt to the transition that’s already underway.

The Key Questions

• What’s the only real differentiator between brokers today? (9:20)
• Why should brokers create efficient and systematic businesses? (11:14)
• What’s the mindset that brokers need to thrive in the future of this industry? (14:40)
• Does the industry need to change? (16:18)
  
  

What You’ll Discover

• What mortgage broking 1.0 was like (1:47)
• How banks drove the transformation that created mortgage broking 2.0 (4:26)
• What brokers need to do to prepare for the transition to mortgage broking 3.0 (9:50)
• What’s right for the customer vs. what’s right for the business owner (19:44)
  
  

Accelerate Faster

• You can visit Broker Ideas Group to learn more about us, access special events and download useful resources designed exclusively for mortgage brokers.
• Want to work with James, Ash and the BIG team to grow your mortgage business faster? Our Growth Coach team can help you. Let's talk!

Brokers always have deals to seal, money to make, and deadlines to meet. Under that avalanche of work, stress, and pressure, it’s very easy to lose track of their ‘why’. And when brokers lose track of their inner motivation, it’s very easy for the overwhelm to overwhelm.

In this episode of Mortgage Broker Acceleration, James Veigli and Ash Playsted discuss why the broker’s ‘why’ is so important. Tune in to dive deep into your core and reconnect with your inner drivers (hint: it’s not the money). It’s the key to achieving sustainable and enduring success in this industry.

The Key Questions

• How do you find your ‘why’? (1:55)
• Does your ‘why’ change and evolve over time? (2:52)
• What happens when you start stripping away the layers of the ‘onion’? (6:12)
• Why is ‘the why’ important? (11:34)
  
  

What You’ll Discover

• Why the broker’s ‘why’ often gets buried (4:04)
• A critical question that all brokers should ask themself (13:00)
• How the fight-or-flight response influences our decisions (14:49)
• A simple tip to help you dive deep into your ‘why’ (18:34)
  
  

Accelerate Faster

• You can visit Broker Ideas Group to learn more about us, access special events and download useful resources designed exclusively for mortgage brokers.
• Want to work with James, Ash and the BIG team to grow your mortgage business faster? Our Growth Coach team can help you. Let's talk!

As the year draws to an end, many brokers think of their plans and ambitions for 2022. This is the time for making lists and new year’s resolutions. However, many brokers unfortunately set goals that are too narrowly defined by numerical targets. For example, hitting a specific income bracket or signing a specific number of loans.

In episode 63 of Mortgage Broker Acceleration, James Veigli and Ash Playsted discuss how brokers should rethink their approach to goal-setting. Tune in to learn how to make the most of the holiday season... and be fully prepared for the challenges and opportunities ahead.

The Key Questions

• What should brokers get philosophical about during the holidays? (9:35)
• How should brokers rethink their end-of-year goal-setting? (11:47)
• Should brokers also work on their personal growth? (15:47)
• What is the act-as-if method and how can brokers use it? (16:09)
  
  

What You’ll Discover

• The importance of switching off (1:45)
• A hidden upside to 9-to-5 employment (and how entrepreneurs can recreate it) (7:40)
• The common but counterproductive tendency to catastrophise (17:40)
• Some practical tips for brain and mindset training (19:36)
  
  

Accelerate Faster

• You can visit Broker Ideas Group to learn more about us, access special events and download useful resources designed exclusively for mortgage brokers.
• Want to work with James, Ash and the BIG team to grow your mortgage business faster? Our Growth Coach team can help you. Let's talk!

Goal-setting is an important aspect of every business. Unfortunately, many brokers often set goals in a thoughtless and careless manner. This leads them to eventually abandon them (as with many New Year’s Resolutions). Or they stubbornly insist on sticking to an old goal long after it becomes counterproductive.

In this episode of Mortgage Broker Acceleration, James Veigli and Ash Playsted talk about goal-setting. They explain why brokers need a new approach to goal-setting. Tune in to learn why this is crucial for your long-term business success. You’ll also discover practical tips on setting effective goals, sticking to them, and pivoting when necessary.

The Key Questions

• Why is the common approach to New Year’s Resolutions problematic? (1:44)
• Is a dogmatic approach to goal-setting dangerous? (3:23)
• Does the wrong approach to goal-setting achieve anything? (4:49)
• What happens if we don’t achieve the goals we set? (6:46)
  
  

What You’ll Discover

• How our limiting beliefs influence our goal-setting process (6:14)
• The main challenge in implementing the one-touch system (10:06)
• Neuroscientific tips on brain training (13:08)
• The transformative impact of setting a vision for your business (18:18)
  
  

Accelerate Faster

• You can visit Broker Ideas Group to learn more about us, access special events and download useful resources designed exclusively for mortgage brokers.
• Want to work with James, Ash and the BIG team to grow your mortgage business faster? Our Growth Coach team can help you. Let's talk!

What business lessons can brokers learn from Santa Claus? Most kids are taught to believe that Santa rewards ‘niceness’, not naughtiness. Likewise, many brokers believe that they will be rewarded for being ‘good’. If they have good intentions and a good work ethic, their business will succeed, right?

In this episode of Mortgage Broker Acceleration, James Veigli and Ash Playsted explain why this mindset is a myth. While being well-intentioned and hardworking is great, it isn’t enough to create a successful business. Tune in to learn which traits, tendencies, and mindsets ultimately get rewarded in this industry.

The Key Questions

• What is the huge myth that influences many brokers in the industry? (4:25)
• How does the core mindset from the Santa myth carry over into our professional lives? (8:23)
• How can brokers transition from magical to practical thinking? (9:00)
• What happens after brokers realise that ‘Santa’ isn’t real? (9:30)
  
  

What You’ll Discover

• Why Santa is much more than a fantasy for most children (1:49)
• The myth of the free and independent broker (5:05)
• The myths vs. facts of being a mortgage broker (6:44)
• Why the business world doesn’t operate according to the logic of the Santa myth (7:21)
  
  

Accelerate Faster

• You can visit Broker Ideas Group to learn more about us, access special events and download useful resources designed exclusively for mortgage brokers.
• Want to work with James, Ash and the BIG team to grow your mortgage business faster? Our Growth Coach team can help you. Let's talk!

Brokers today have a plethora of tech solutions that promise to enhance efficiency and profitability. In many cases, it makes total sense to reap the time savings they provide. However, many brokers indiscriminately jump on tech solutions to solve their immediate problems.

In episode 60 of Mortgage Broker Acceleration, James Veigli and Ash Playsted discuss the ideal approach to technology. They explain why brokers need to approach it strategically. As paper babies in an increasingly digital world, they are well aware of technology’s pros and cons. Tune in to learn how to make sure that all the tech you invest in ultimately works for you and your business.

The Key Questions

• Is technology causing younger brokers to lose sight of the bigger picture? (6:34)
• What are the mistakes that brokers make when trying to implement new tech solutions? (8:34)
• What should tech-savvy brokers look out for when choosing tech solutions? (13:24)
• What should brokers take into consideration when investing in tech solutions? (18:15)
  
  

What You’ll Discover

• How the idea of technology being the solution for everything can be dangerous (3:14)
• The analogy of being a kid in a candy store (7:02)
• How sales/people brokers and business/tech brokers should approach technology (10:24)
• A tip for all-rounded brokers who are good with people and technology (15:56)
  
  

Accelerate Faster

• You can visit Broker Ideas Group to learn more about us, access special events and download useful resources designed exclusively for mortgage brokers.
• Want to work with James, Ash and the BIG team to grow your mortgage business faster? Our Growth Coach team can help you. Let's talk!