Mortgage Broker Acceleration

Will AI be the death of the mortgage broking industry? If you’ve been following the exponential development of AI, language models, and machine learning, then this question is probably in your head quite a lot. While we cannot truly predict the future, there are two things that we’re sure of. One, AI is here to stay and it’ll get better and better from here on out. Two, the process of buying a property for various reasons is complex. It entails more than just looking for the “best” or “cheapest” deal out there.

In this episode of Mortgage Broker Acceleration, James Veigli and Ash Playsted discuss how the developments in AI technology will affect the mortgage broking industry. They also share their thoughts on the industry’s future prospects with the advent of AI. Tune in to find out how mortgage brokers should proceed with AI taking the world by storm.

The Key Questions

• Will AI be the death of mortgage brokers? (4:47)
• How can AI help mortgage broking businesses? (6:20)
• How can ChatGPT and other language models help a broking business? (8:21)
• What are the limitations of AI for the broking industry? (10:00)
  
  

What You’ll Discover

• Why technology is a constant (4:04)
• People will always know the difference between AI and real human interaction (5:35)
• Chat GPT is an evolution of search engines (7:26)
• Why people still need expert brokers to ask the right questions (9:15)
  
  

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!

How do you know when you’ve made it? Is it when you’ve earned a significant amount of money in your broking business? Perhaps when you no longer have to work hard in your business? Or maybe when you’ve turned your broking business into a multinational corporation? Any and all of your answers are correct. But the truth is... There’s more to success than meets the eye. After all, money and time freedom aren’t the only important things in life.

In this episode of Mortgage Broker Acceleration, James Veigli and Ash Playsted share what “making it” meant for them. Ash also shared a personal story of the first time he felt like he “made it". They also give practical advice to mortgage brokers who believe that they have already made it. Tune in to learn more.

The Key Questions

• Should brokers adopt a mindset of “making it”? (3:47)
• What’s the trap brokers can fall into when it comes to the idea of “making it?” (6:04)
• What are the three levels of success? (9:53)
• Is it okay if brokers haven’t made it yet? (14:00)
  
  

What You’ll Discover

• Why a lot of brokers mistakenly believe they have already made it (4:59)
• The first step of the ladder of success (6:48)
• One fact about a broker’s definition of success (7:54)
• The existential challenge of success (11:54)
  
  

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!

Did you know that having a star performer in your broking business could be dangerous? It’s especially true if this star performer is...YOU. See, a business built on a star performer creates a culture of dependency. While having a star performer may give your business a boost, it can also hold you back and lead to unmotivated team members. Or worse, it can burn you out.

In this episode of Mortgage Broker Acceleration, James Veigli and Ash Playsted share the inspirational story of one of their clients who had this very issue. She became a stressed-out star performer who desperately needed help with balancing her workload while ensuring her broking business continues to operate at a high level. Tune in to find out how they helped her.

The Key Questions

• What does external success look like? (4:04)
• How do brokers escape the trap of “hard work = success”? (8:09)
• How can brokers fix their broking business’s culture? (10:02)
• Why is it wrong to build a business around a star performer? (13:00)
  
  

What You’ll Discover

• The problem with just aiming for numbers (5:34)
• Why your biggest problem will come camouflaged as your biggest temptation (6:41)
• Our definition of success (7:24)
• The quarterback syndrome (12:21)
  
  

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!

There’s one trap that many mortgage brokers end up falling into as soon as they start a business. And that is: Hiring their staff way too late. They believe that the only reason they need to hire is to solve their problem of feeling overwhelmed. But here’s the truth: Hiring people to save you from drowning in work won’t cut it. In fact, it can even do more harm than good.

In this episode of Mortgage Broker Acceleration, James Veigli and Ash Playsted talk about what happens when mortgage brokers hire too late. They also discuss the concept of drowning and how mortgage brokers can avoid this feeling as they pursue success. Tune in to discover the only right time to hire people in your broking business.

The Key Questions

• What happens if I hire too late? (2:03)
• How can I avoid hiring too late? (9:18)
• Why are most brokers hiring too late? (17:00)
• Why does backfill hiring not work? (19:37)
  
  

What You’ll Discover

• The default hiring strategy for most brokers (4:36)
• The most dangerous kind of person to have in a broking business (6:32)
• The true goal of hiring new team members (11:52)
• How banks hire staff and why you need to do the opposite (18:04)
  
  

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 hate networking? Don’t worry. You’re not alone. Many mortgage brokers hesitate to go to networking events because they’re introverts. Now, there’s nothing inherently wrong with that. However, networking is an essential part of doing business because it helps you tap more people to become potential clients, collaborators, and even team members.

In this episode of Mortgage Broker Acceleration, James Veigli and Ash Playsted share what mortgage brokers need to do to start effectively networking even if they are introverts. They also share sample scenarios to prove their point. Tune in to find out how to expand your network the right way.

The Key Questions

• Why do many brokers hate networking? (1:21)
• How can I enjoy networking events? (6:32)
• How can I stop sounding salesy during networking events? (10:44)
• What is the common thread that brings people together? (14:47)
  
  

What You’ll Discover

• The true purpose of networking for mortgage brokers (3:38)
• A trick to effective networking (5:22)
• Why you need to stop selling yourself in networking events (8:17)
• An ingenious way to put yourself in the right rooms (10:05)
  
  

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!

Marketing should not be left to chance. After all, it’s an important part of doing business. Do it right and you have the chance to double—and maybe even triple—your client base. But do it wrong and a lot of money goes down the drain. Unfortunately, not a lot of mortgage brokers know how to do their marketing right. This is especially true since the widespread belief is brokers need to be everything to be everybody.

In this episode of Mortgage Broker Acceleration, James Veigli and Ash Playsted explain what a successful marketing strategy looks like for a mortgage broking business. They also share tips on how brokers can avoid wasting too much money on marketing. Tune in to find out more.

The Key Questions

• Why do many brokers waste money on marketing? (2:32)
• What should I do to improve my marketing efforts as a broker? (4:02)
• How can I tailor-fit my marketing for my ideal clients? (12:47)
• Should brokers start working with a marketing agency? (15:01)
  
  

What You’ll Discover

• The wrong approach to marketing (1:56)
• The old-school mentality mortgage brokers are holding onto (7:27)
• Why specialisation gives you superpowers (8:20)
• A thinking exercise for mortgage brokers (15:45)
  
  

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!

Being a mortgage broker is not as easy as it sounds. After all, your job is not just to find the cheapest deal for your clients—successful mortgage brokers do more than just that. To give you a hint on what it is, start reflecting on what it means to obtain a mortgage. How much money is involved? How many hours of thinking is necessary to ensure you’ll make the right decision about it?

In this episode of Mortgage Broker Acceleration, James Veigli and Ash Playsted unravel the true reason why people need mortgage brokers. They also discuss the importance of trust in every broker-client relationship. Tune in to find out more.

The Key Questions

• Why do people use brokers? (1:22)
• Why is getting the “best” deal wrong? (7:22)
• What is the real reason people use brokers? (9:06)
• What should brokers start doing differently? (17:01)
  
  

What You’ll Discover

• Why about 1% of loans are settled through proprietary channels (3:00)
• The cheapest deal mindset (4:23)
• The similarities between obtaining a mortgage and getting an operation (6:59)
• The importance of trust in the broking business (12:48)
  
  

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!

Having a team to help you manage and grow your broking business is one of the best decisions you can ever make. But it’s not as easy as it sounds. After the tedious hiring process, there’s one more step you need to take: Helping your staff to motivate themselves. You need to find ways to ensure your team members are motivated enough to work independently towards a common goal.

In this episode of Mortgage Broker Acceleration, James Veigli and Ash Playsted share the inspirational story of one of their clients. Now that he’s transitioning from being a broker to becoming a broking business owner, he sought help on how to make sure his staff stays motivated to produce the best results for their clients. Tune in to find out how he did it.

The Key Questions

• How do I motivate my staff? (12:26)
• Why is it so hard to motivate my team? (16:23)
• How can I build a broking business that’s super successful with or without me? (17:48)
• How do I work on myself? (18:42)
  
  

What You’ll Discover

• Why you might need to take a bit of a plateau in your business (5:17)
• The unintended consequence of scaling up (6:30)
• The default management style for most mortgage brokers (7:47)
• The wrong way to motivate people (15:08)
  
  

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!

Every broker has big ambitions for their team. Each year, they jot down what they want to achieve, such as bigger revenue, more clients served, and better overall performance. But there is a danger when they start being too unrealistic about their goals, their team, and themselves. They become too focused on their desired outcome that they fail to determine if it’s even realistic for their current capacity.

In this episode of Mortgage Broker Acceleration, James Veigli and Ash Playsted talk about the dangers of being too unrealistic. They share why many mortgage brokers fall into this trap and what they should do to prevent it. Tune in to find out more.

The Key Questions

• How can brokers stop being unrealistic with themselves and their teams? (1:18)
• What does being ‘unrealistic’ really mean? (2:54)
• What can brokers do to start understanding their capacity? (12:39)
• How can brokers dial back expectations in their broking business? (17:57)
  
  

What You’ll Discover

• The problem with being too unrealistic about your mortgage broking business (5:10)
• The reason many brokers are unrealistic about their team (8:22)
• Why it’s crucial to learn to help yourself first (11:24)
• One of the real drivers of change (15:01)
  
  

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!

Systems and workflows are part and parcel of doing business. This is especially true for mortgage brokers who are starting to build their own broking businesses. But here’s something that most brokers don’t know: systems and workflows should not be one-dimensional. In fact, to fully utilise the benefits of creating your own processes, you must learn and practice the four-dimensional workflows in your broking business.

In this episode of Mortgage Broker Acceleration, James Veigli and Ash Playsted discuss what the four-dimensional workflows are. They also explain why they are necessary to help brokers create a mortgage broking business that runs with or without them. Tune in to learn how these four-dimensional workflows work.

The Key Questions

• What happens when brokers start to build workflows and systems? (5:11)
• What can brokers do to consistently deliver world-class client experience? (7:46)
• What are 4-dimensional workflows every mortgage broker should master? (14:06)
• How can brokers improve their workflows? (18:01)
  
  

What You’ll Discover

• The importance of systems and workflows for building a mortgage broking business (1:36)
• The danger of thinking about systems in one dimension (6:21)
• A wrong approach to scaling your mortgage broker business (13:09)
• The value of accurate execution for mortgage brokers (15:17)
  
  

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!