Mortgage Broker Acceleration

Many brokers don’t have a clear sense of where their business is – or where it’s going. It’s almost as if they’re walking around with a blindfold on. That’s why it’s so easy for them to step into the metaphorical quicksand of this industry. Their mortgage business starts to slowly sink... And by the time they realise it, it’s often too late.

In episode 59 of Mortgage Broker Acceleration, James Veigli and Ash Playsted discuss the best way for brokers to break free of this quicksand. Tune in to discover practical tips and strategies that will help you turn a sinking business around.

The Key Questions

• How can brokers escape the metaphorical quicksand? (4:56)
• How do you know if you are actually trapped in quicksand? (8:49)
• What is the biggest problem that most brokers face? (12:41)
• How can brokers stay clear of the quicksand? (17:17)
  
  

What You’ll Discover

• The quicksand analogy (1:26)
• Why the instinctive tendency to panic is counterproductive (5:35)
• The two common mindsets that get brokers stuck (16:41)
• The mountaineering analogy (17:51)
  
  

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!

Everyone knows that technology is essential to a successful 21st century mortgage broking business. But there is always a danger of going overboard with high tech solutions. If you’re not clear about what your mortgage broking business really needs, you’ll end up with Frankenstein’s monster of expensive tech solutions you hardly use.

In this episode of Mortgage Broker Acceleration, James Veigli and Ash Playsted explain why you should start with pen and paper when it comes to tech. Tune in to learn how to create an effective roadmap for your business – and incorporate all the technology you need.

The Key Questions

• What is the common tech-related mistake that most brokers make? (1:11)
• How can you resist the shiny object syndrome? (6:07)
• Do you need to go to the drawing board when thinking about technology? (6:55)
• Should your business vision come before your tech investments? (10:25)
  
  

What You’ll Discover

• Why the presumption that technology will solve all your problems is dangerous (4:09)
• Why many brokers only use 50% of the tech solutions they pay for (5:05)
• The old adage that still applies to brokers today (12:29)
• The old-school yet transformative power of using pen and paper (14:07)
  
  

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!

Many brokers dream of having a successful mortgage broking business that doesn’t require much of their time. However, most still struggle to enjoy the lifestyle and freedom they want. How do you grow a successful mortgage broking business that doesn’t require you to be so deeply involved in it?

In this episode of Mortgage Broker Acceleration, James Veigli and Ash Playsted explain how you can achieve this elusive goal. They use Sam as a case study. He’s the ‘one-touch broker’ who just needs to hold a 15-minute phone call with a prospective client. But how does he do it? Tune in to find out and learn how to replicate the one-touch system in your business.

The Key Questions

• What is a one-touch broker? (2:25)
• Is there a “miracle cure” that will ensure you get your desired outcome? (8:53)
• What are the two crucial traits brokers need to have? (11:09)
• Do competent brokers really need only 10-15 minutes to secure a prospective client? (18:22)
  
  

What You’ll Discover

• The 3 things that a one-touch broker does (6:33)
• The main challenge in implementing the one-touch system (10:06)
• The secret sauce to becoming a one-touch broker (10:40)
• The important difference between coaching and doing (15:46)
  
  

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!

Getting referrals is the lifeblood of a good mortgage business. Whether you are a brand new or experienced broker, you’ll encounter many opportunities to connect with potential partners. But how can you make the most out of each of them?

In this episode of Mortgage Broker Acceleration, James Veigli and Ash Playsted explain why brokers should actively and deliberately seek out referral opportunities. They discuss the importance of treating everyone like a potential referral partner, even if not every connection will lead to a referral partnership. Tune in to learn all about the mindset shift and practical strategies you need to open more doors.

The Key Questions

• How can we get referral partners from our loan process? (5:27)
• How can we get partners from our existing contacts and networks? (8:45)
• Do you need a clear process for getting referral partners? (13:36)
• Why do you need a 180° mindset shift towards connection building? (15:17)
  
  

What You’ll Discover

• Why you should capitalise on normal, everyday conversations about mortgages (9:18)
• How to use warm connection statements (16:15)
• How to overcome that big initial hurdle in making a new connection (18:11)
• What happens when you take “commission breath” out of the discussion (21:22)
  
  

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 do you make of brokers who are life partners and business partners? It’s actually quite common for a broker’s partner to become more and more involved in the business over time. It's the reason why there are many life-and-business-partner teams out there. Naturally, there are many pros and cons to this common arrangement.

In this episode of Mortgage Broker Acceleration, James Veigli and Ash Playsted discuss the common mistakes and missteps that broker couples make – and what they should do instead. Tune in to learn how to make living and working with your partner in your mortgage broking business work for you.

The Key Questions

• Why is it crucial to have clear mutual expectations? (7:37)
• Why should you have a clear separation between work and life? (14:30)
• What is the difference between a partner being a formal vs. informal part of the business? (11:49)
•  Why is having a bigger purpose behind the partnership important? (18:33)
  
  

What You’ll Discover

• A major mistake that many brokers make (5:44)
• How to think about the business as having a frontstage and backstage environment (9:48)
• How to empower your partner in their business role (13:13)
• The importance of discussing your end game (16:36)
  
  

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!

When you think of working with accountants, do you think of running in the other direction? It is true that you need a different mindset when working with accountants. However, they can be a reliable source of regular referrals – IF you have the right mindset and strategy.

In episode 54 of Mortgage Broker Acceleration James Veigli and Ash Playsted help brokers put themselves in an accountant’s shoes. They break down the key differences between real estate agents and accountants. Tune in to discover practical tips that will help you create invaluable long-term relationships with accountants.

The Key Questions

• What’s the difference between having accountants and real estate agents as referral partners? (2:42)
• How can we add value to an accountant’s clients? (7:57)
• How can you create strategic long-term partnerships with accountants? (10:42)
• Why do you have to be proactive when working with accountants as referral partners (14:57)
  
  

What You’ll Discover

• Why accountants are generally uncomfortable with referring their clients for a mortgage (8:54)
• The importance of having a clear value proposition (12:39)
• How to share the commission (16:30)
• The 3 things you should do when working with accountants (25:36)
  
  

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!

Do you know what happens when brokers get too busy? Many of them will simply throw more staff at the problem. They might hire extra loan writers or more admin staff, for example, to try to keep up with their mortgage business.

In this episode of Mortgage Broker Acceleration, James Veigli and Ash Playsted explain why this is a completely wrong approach. They use Cory, a broker who successfully scaled his business (from $1.8 to $7.2 million) in only 8 months as an informative case study. Tune in to learn all about the simple yet typically underutilised magic formula to business growth.

The Key Questions

• What is the magic sauce for growing your business? (3:43)
• Why does the value of your business depends on your systems, technology and workflows?(12:02)
• Why is it very difficult to scale your business by simply hiring more staff? (16:01)
• Do you need a critical mindset shift to scale your business? (17:18)
  
  

What You’ll Discover

• The simple secret to Cory’s phenomenal success (2:04)
• The biggest mistake that busy brokers make (10:59)
• Why brokers need to abandon perfectionism (17:54)
• What to do after acknowledging that you don’t have all the answers (23:03)
  
  

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!

Often, brokers put a lot of effort into being friendly and likeable. And while likability is important, many brokers actually make the mistake of trying to be too nice. Some customers might respond positively to this, but it ultimately doesn’t help their mortgage business as a whole.

In this episode of Mortgage Broker Acceleration, James Veigli and Ash Playsted address misguided ideas about niceness. They do not claim, however, that brokers should be rude or difficult to work with. Rather, they argue that brokers should focus on establishing their authority, expertise, and experience. Tune in to discover how to rethink your conversations and engagements with your clients.

The Key Questions

• What’s the difference between being nice and being authoritative? (2:49)
• How should you approach the sales process and conversation? (6:56)
• Why should brokers take the lead? (7:28)
• Does coming from a position of authority and experience improve your conversion rate? (13:27)
  
  

What You’ll Discover

• Why being reactive is counterproductive (4:34)
• The problem with the sales mentality (5:51)
• The dog owner analogy (9:18)
• Transforming your business with the onion analogy (21:13)
  
  

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!

Many experienced and hardworking brokers out there will get stuck at one point or another. Yes, they’re constantly busy and preoccupied with their business, but they just can’t take things to the next level. They often experiment with various “solutions”, but these ultimately don’t produce the desired effect.

This episode of Mortgage Broker Acceleration focuses on what seasoned brokers need to do to get unstuck. Ash Playsted puts James Veigli under the grill, prompting him to reflect on this enduring problem from his experience as a broker and a coach. Tune in to learn how to break free from stagnation and regain that momentum.

The Key Questions

• Which is more important: mindset or capability? (8:55)
• What is the most important thing that experienced brokers who feel stuck need to know? (16:17)
• Why do so many brokers feel stuck? (21:47)
• What is the biggest opportunity and challenge in the industry right now? (29:37)
  
  

What You’ll Discover

• How James unpacked the sales and meeting process as a young broker (6:09)
• What James would do differently if he was starting his career now (13:31)
• The ironic relationship that many people have with money (32:26)
• The people that James credits for his success (35:46)
  
  

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!

"It can’t be that simple, right?" This mentality is possibly the biggest obstacle that most brokers face. After all, they often believe that they need a complex formula to make their mortgage business more successful. So, they try to implement random strategies and advice, only to overcomplicate things.

However, the truth is that there is no secret to business success. Most brokers already know how to achieve success but fail to implement it. In episode 50 of Mortgage Broker Acceleration James Veigli and Ash Playsted return to this core problem as they recap the high points from previous episodes. Tune in to focus on the simple fundamentals of success – and tune out all the noise out there.

The Key Questions

• Why do brokers tend to seek out complexity unnecessarily? (9:49)
• How do you take action and get the work done? (11:23)
• How do you bridge the gap between knowing and doing? (13:13)
• How can you overcome the biggest obstacle that most brokers face? (16:04)
  
  

What You’ll Discover

• The machine gun vs. sniper analogy (14:45)
• Why it’s so important to figure out your motivations for building a business (17:24)
• The success trap (19:01)
• The importance of safeguarding your mental health (20:24)
  
  

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!