When you’ve assessed and approved over a billion dollars in lending within the banks, it is more than just a good apprenticeship to set you up for a life in broking, it’s the foundations to a rewarding career.
In this interview with Charles Zerafa, he takes up through a career assessing commercial transactions before making the switch to broking and becoming the trusted advisor to a portfolio of high quality clients who lean on his expertise to help them fund their and facilitate their business growth objectives.
Charles outlines how the benefits of being a broker enable him to offer a level of depth and value to his clients in terms of how he could represent and facilitate their funding needs.
And, like many a good broker, he talks about how his service has earned him introduction to the personal networks of clients that never availed themselves whilst he was in commercial banking.
If you would like to connect or chat with Charles, a great place to start would be his LinkedIn profile.
It’s seldom you come across a person who has started a movement, though that’s exactly what Philip Robison has done.
As the the founder of Saving Brothers and a property professional, Philip is driven by the desire to impact people for the better.
Not just in their hip pocket, but equally if not more so to look after one’s health and wellbeing - and with the scars and war stories he’s gathered, Philip is empathetic, compassionate and insightful.
In our interview, we talk about the highs and lows of his journey, his love for regional property and how people can live their best life.
If you’d like to reach Philip, send him at email to philip@theholygrail.com.au
As we all know, time is arguably the most precious commodity for every mortgage broker.
In this podcast with gun loan administrator turned business owner, Mandy Love, we look at the importance of having the right people in the right seats to help deliver an efficient, referable and repeatable service to grow a broking practice.
Having personally seen Mandy make a significant contribution to the growth of one of our broking clients, she is all too familiar with how to help brokers ensure their focus is on income producing activities that contribute to their financial and quality of life goals and getting everything else off their plate.
It's with this mantra in mind Mandy mustered the courage to pursue her dream of opening a loan processing service so she can positively impact more brokers and see them grow their practice by delivering better and quicker client outcomes.
Mandy discusses common challenges inherent with many brokers and how to address them to actually enjoy the success and prosperity they are working hard for.
If you’d like to reach out to Mandy, visit Mandy’s LinkedIn profile or go to:
Website: landmarkloansupport.com.au
Email: info@landmarkloansupport.com.au
From police officer to high performing mortgage broker mortgage, Travis Carruthers is on a mission to impact more brokers, consumers and staff for the better.
Most brokers who settle in excess of $100M per annum are usually looking to grow either their back end to pump through more volumes, or build out the broking team so they can grow with and through others.
For Travis, it’s a combination of both, in addition to running a sub aggregation group and providing a consulting service where he implements a version of his own processes into other broking practices.
With a passion for seeing people do better, Travis aims to provide exemplary client service standards and cultivate a team in culture where his staff are expected to come up with ideas and innovations that contribute towards the ongoing growth and optimization of the business.
Arguably not an easy thing to do, which is perhaps the exact reason why Travis is doing it because as he says he gets bored staying in his comfort zone and wants to be comfortable with remaining uncomfortable.
If you’d like to connect with Travis, you can reach him:
· Via Travis’ LinkedIn profile
· Through VMBS, his mortgage broking service, or;
· VTEK Solutions, his consultancy service for brokers
Many brokers spend a lot of energy and money on new client acquisition. The idea behind this mentality is simple: You can grow your mortgage broking practice faster if you have more clients.
However, some brokers deprioritise how to retain their current clients.
Why?
Partly because ‘new money’ is more appealing than existing money. A new client expects a quick response. An existing client might patiently wait for weeks or longer for the broker to come back to them.
It’s not ideal, but sometimes, when you’ve got conflicting priorities and limited resources, you’ve got to pick your battles, right?
Equally, if you believe your book will experience run-off, there’s a constant focus on replenishing what’s being lost at the other end.
This mentality can get exhausting and limit your practice’s growth.
Having a clearly defined client-retention strategy can minimise run-off and support your goal of growing your book & your trail income.
So, it pays to take a closer look at your churn rate and figure out how to reduce it.
To find ways to get this done, I had a chat with Adam Grocke. Adam is the CEO of Sherlok, an online platform that helps businesses retain more clients. And in this article, I’ll share with you the insights he has when it comes to retaining more clients.
Let’s kick things off by addressing the elephant in the room.
Several years ago, Adam discovered that the larger his book became, the loans that had been on his book longer had a higher propensity to churn.
He investigated the matter and he found two major reasons why this was happening.
Based on his personal experience, client care programs such as birthday cards, anniversary messages, etc, were no longer effective in retaining clients. They weren’t as potent as they used to be.
And the primary catalyst for churn was that after several years, some clients become dissatisfied with a lack of ongoing service and felt they could get a better rate but wouldn’t necessarily return to the same broker.
As they say, out of sight, out of mind.
So, they start researching their options, invariably ask a friend or family member for a recommendation to a broker, and once they refinance, the loan drops off the original broker’s book. And just like that, they’re gone.
For Adam, client retention starts with being proactive. This means retaining and growing your book (and asset value) by having a plan.
For full disclosure, Adam is the founder of Sherlok, which is a broker-specific software solution designed to help brokers proactively support clients in terms of repricing and retention. I recently interviewed Adam as a guest on our podcast, which you can check out here.
In the meantime, I’m going go to suggest some structural and strategic actions you can take to support your clients ongoing.
The benefit being that instead of being reactive, constantly putting out fires or doing ‘unplanned maintenance’, the idea being that you have a more collaborative & predictable relationship with clients ongoing.
We know that over the next 3 years, $500 billion worth of home loans will be expiring from the ultra-low fixed rates - which presents both a risk and an opportunity.
The more structure you introduce into your service deliver - from the initial consultation to the ongoing relationship, the easier it will be for clients to return to you, to remark about your service and invariable, earn more referrals.
Virtually all brokers invest effort into attracting new clients into their practice. That’s because getting new clients brings an upfront and grows the trail.
When combined with a clear, purposeful and effective retention strategy, you will invariably see your book grow and increase your asset value in the process.
Having interviewed over 160 podcast guests and had extraordinary conversations with many incredible people, it’s a big call to say this is the most important podcast I’ve done, particularly since it has nothing to do with broking.
It does however have everything to do with how and why we perform and function in the world the way we do through our unconscious biases.
It was spurred on by some friends of mine, females, who have had vastly different experiences of people whom I’d refer to as ‘good blokes’.
And knowing my friends were having these experiences, the more important I felt it was to unveil why we, like people, have unconscious biases that influence our behaviours, decisions and actions.
On occasions, these biases contribute to our growth and well-being, and at times, can dimmish our capacity to be the best version of ourselves.
To help piece things together and provide some perspective around this, I asked a friend of mine and one of Australia’s leading authorities on unconscious bias, Wendy Lundgaard to share her knowledge and insights.
I’ll be the first to raise my hand and there’s still a long way journey ahead of me in terms of building more awareness around my biases, and I hope this conversation provides you with further insights to assist you in your professional and personal well-being.
Operating a broking practice can be challenging, especially if you’re just starting out. It’s even more so if you used to work as an employee in one. Transitioning from employee to owner can be tricky… but not impossible.
Keith Caine joins me for this episode of The Successful Adviser. He moved from England after the 2008 recession to build a life in Australia. He joined Mortgage Choice and worked his way up. But today, he runs the firm.
Keith shares his story of how he started from scratch and went on to become one of the top brokers in Australia. It’s an inspiring journey with lots of insights for all mortgage brokers.
The key questions:
What you’ll discover:
The sole operator mentality can only take mortgage brokers so far. At some point, brokers will need to delegate key responsibilities to their team members. This will allow them to focus on the strategic and operational decisions and actions that keep their broking practices moving forward.
Marissa Schulze, the director of Rise High Financial Solutions, joins me for this episode of The Successful Adviser. She and I discuss common growing pains and how she grew from a practice of one to a thriving practice of more than 30 team members. Tune in to discover how to maintain a cohesive working culture and how to maintain a great client experience as your practice expands.
The Key Questions:
What You’ll Discover:
There’s been a subtle paradigm shift in the mortgage broking industry in recent years. More and more brokers are embracing the idea of being a broker AND a business owner. It’s no longer about being a one-man-band. Instead, it’s all about structure and substance – building a team and growing a business.
Anthony Landahl of Equilibria Finance sat down with me for this episode of The Successful Adviser.
We discussed how brokers can best equip themselves and their businesses for this ongoing transition. Brand-building, hiring, systemising… There are many practical insights for the industry leaders of tomorrow.
The Key Questions:
What You’ll Discover:
Should you earn 90% commission as an independent broker or base salary + 40% as a PAYG broker? The numbers might suggest that the answer is obvious.
However, just like loans, there are different scenarios and different wants and needs that might influence what is the right structure for each person.
Being an employed broker can be a fantastic opportunity to build a long-term career, build confidence, and be well paid by doing the technical aspects of the role that most brokers seem to enjoy.
Craig Vaughan, the co-founder of BrokerEngine, joins me for this episode of The Successful Adviser. We discuss nuances of the skills that brokers need to succeed and we explore how to find the right balance between personal aspiration and professional capacity.
The Key Questions:
What You’ll Discover:
When it comes to the attributes of successful brokers, often, it can be easy to focus solely on those most visible, like great process, capable staff, high-quality client base, etc.
A less obvious, yet powerful aspect that influences consistent and ongoing success is how we see the opportunities around us. Is there an abundance, or are they scarce?
Over the years, I have noticed some brokers develop a scarcity mindset. Perhaps this is influenced by the number of brokers and seeing them as competition, and it might also be influenced by recent challenges. Whatever the reasons, it is not a sustainable way to operate as a mortgage broking business owner.
In this episode of The Successful Adviser, I sit down with Michael Arbon of Keylend. We discuss what we can all learn from the most high-performing brokers out there. Tune in to learn about various critical mindset shifts and practical strategies. These insights will help you create a more productive, efficient, and rewarding mortgage broking business.
The Key Questions:
What You’ll Discover:
There are many nice, polite, pleasant, and well-meaning brokers out there. But sometimes their communication style often doesn’t result in the number of conversions, income or lifestyle they want to achieve.
Instead, because of their generous nature, they can be weighed down by carrying other people’s stress and occasionally have clients or staff walk all over them, which causes them to work harder, but not necessarily have more to show for it.
In this episode of The Successful Adviser, I sit down with Sofie Chapman, a veteran finance and mortgage broker based out of Adelaide. We discuss how brokers can reassess their communication strategies in high-stakes situations.
After all, mastering the art of effective communication will help every broker seize the outcomes they’re after.
The Key Questions:
What You’ll Discover:
You can listen to this episode right here.
To your continued success,
James.
At age 20, when most young adults are figuring out what they want to do with life, Kim Davie became a property owner.
With an avid interest in property investing, Kim turned her back on corporate in search of a more rewarding and flexible role, and naturally, broking became that profession.
With an abundance of life and professional skills to support her vocation, 6 years on, Kim is relishing the decision.
Like many respected brokers, her business is based on trust, relationships and service, which in and of itself, has been a catalyst for growth.
Though, as is always the way, Kim has experienced learnings disguised as mistakes that have helped her become clearer on her business model and how to find the balance between work and life.
Over the past year, Kim has introduced new tools, staff and structure to provide workflow efficiencies, save on travel time and enhance service levels.
These days, not only is Kim nearing capacity and in search of her next team member, she has earned the trust of lender BDM’s who refer their own family for Kim to look after.
If you would like to continue the conversation, you can reach Kim via email.
When it comes to a broker’s subconscious or unconscious beliefs, the issue isn’t whether these beliefs are right or wrong. It’s their real-world impact that ultimately matters. Are those beliefs serving that broker’s personal and professional goals? Or are they getting in the way of their key objectives?
In this episode of The Successful Adviser, I talk with Jane Slack-Smith, the founder of Your Property Success. And we discuss how brokers can identify and iron out the kinks in their belief system, build a more rewarding business and have a bigger impact on more people.
Tune in to discover how brokers can work through their limiting beliefs and sustain new versions of themselves.
The Key Questions:
What You’ll Discover:
You can listen to this episode right here.
To your continued success,
James.
In this interview with Julie Bishop, I took a slightly different tact.
Yes, Julie and I could have just talked about all the great things going on in her business, which she co-owns with two other brokers.
But instead, we looked at some of the challenges and opportunities Julie has worked through to transition from a successful career in banking to establishing a highly referred broking business.
Some of the discussion points included:
If you want to continue the conversation with Julie, you can email her or call her mobile, 0477 899 922.
Like practically all well-established brokers, it comes as no surprise that Belinda Caesar’s core marketing strategy is elevating her clients into raving fans so they can spread the good word.
Having founded her business in Melbourne, Belinda has since moved to Cairns to enjoy a very different lifestyle, which was evidenced by the 90% local humidity on the day of our interview.
Alas, I digress, as more impressive is Belinda’s intent to over-service her clients, through education, connections to her professional network and ongoing communication to ensure clients are supported as part of a comprehensive customer-journey support model introduced into her business.
As always, we cover a few topics including how Belinda manages her time and the gifts that her clients give her to express their gratitude for the great work she does.
Impressively, Belinda has a mindset of abundance around sharing her knowledge as well as being lifelong learning so she can continue to grow herself and in doing so, continue to grow her business.
If you would like to connect with Belinda, visit her website, go to the contact page and drop her a note or send her an email.
Quite literally, one of Australia’s first ever brokers, over the past 30+ years Marco Meloni has seen it all.
That said, it comes as little surprise that his secrets to success aren’t really secrets at all.
Be responsive, give great advice, deliver results and care for your clients. These are just some of the insights Marco shared during our interview.
Moreover, we also touch on how Marco, who is entering the twilight of his career can plan a gradual exit from his business in a way that makes it easier for their book to be taken over, clients to be looked after, and of course, appropriately remunerated on the asset and reputation he has built.
As always, I hope this interview educates and inspires you to continue on your journey.
And, if you would like to connect with Marco, he has generously offered his open-door policy for anyone in his neck of the woods (Leederville, WA), or you can ring the office on 08 9201 0999 and tee up a chat.
Bianca Patterson exhibits all the hallmarks you’d expect of a high performing broker.
And it comes as no surprise that over the past 10 years, her brokerage has been growing based almost entirely on referrals from highly satisfied clients.
Right now, Bianca has arrived at what most of us would define as ‘successful in business and is thinking about the next chapter of her business, her life.
Specifically, with a great flow of lead, clients and revenue, Bianca is thinking about how to slowly replace herself so she can retire by age 40 and have her team take on even more of the day-to-day responsibilities.
That doesn’t mean she’ll give it all up.
Retirement is about giving herself choice and options as to how and where she spends her time.
And why?
So she can realise the next level of her own personal journey - and expand her impact on society.
I think you will enjoy this episode immensely.
If you want to connect with her, you can reach her on LinkedIn.
Based in northern New South Wales just shy of the Queensland border, when COVID hit last year and borders were closed, for 8 weeks Jo Croft was unable to drive to her Brisbane office to see staff and clients.
They say necessity is the mother of invention, and Jo had to find a new way to keep the business running. And do it fast.
Suffice to say, Jo found a new level of leadership and decision making that caused her to empower and support her staff to take more ownership over their roles and the outcomes being delivered to clients.
Like many a broker, Jo has embraced technology to operate remotely, which has proved to be a game-changer.
She is saving around 9 hours per week in commuting, which is time that can be spent on better servicing clients, operating the business and quality of life.
Moreover, despite the challenges, Jo’s volumes have grown year on year, and there are no signs of slowing down.
In this interview some of the topics we cover include:
If you want to connect with Jo, you can reach her on her Facebook business page or via Instagram.
Best by name, and by nature. Right now, Kirsty Best from Living Home Loans is seeing the business achieve personal best settlement volumes, as she and her husband Andrew take full advantage of the booming property market.
Currently writing $6M / month with a view to doing more, Kirsty brings her life skills and financial acumen to fore to deliver a highly referable lending experience.
Moreover, Kirsty is part of a growing wave of women in finance who want to support, inspire and encourage other women to pursue a career and achieve what they’re worth.
In this interview some of the topics we cover include:
If you want to connect with Kirsty, you can drop her an email or reach her on Facebook.
If you’ve ever had a husband, wife or significant other who has contributed to your business in a small or big way, you’ll love this episode with Jo Violeta.
Jo is the marketing manager at Violeta Finance. By proxy of her husband Carl being the broker, Jo has focused on driving initiatives that have helped build Carl’s profile, the brand presence and make a significant impact on client acquisition.
Moreover, Jo’s experience is inspiring insofar as she has, like many before her, learned on the fly and put on a marketing hat even though she readily admits it wasn’t her background prior.
In this interview some of the topics we cover include:
And, Jo also runs her own podcast called Dream Home Podcast.
If you want to connect with her, you can email her or drop her a message on Facebook or Instagram.
Straight up, that headline is definitely correct, though it’s one of a few titles Sarah Wells uses to describe how she delivers service.
With a large portion of her clientele being medical professionals, Sarah has become their trusted advisor to give them the clarity, advice and confidence to achieve their goals.
Or, as Sarah calls them, to get the Unicorn or at the Zebra.
Moreover, in the conversation with Sarah, topics we touch on include:
If you would like to reach out and continue the conversation with Sarah, you can email her, call on on 0411 725 525, or connect on LinkedIn.
Run a More Efficient, Referable & Profitable Broking Business :
Watch this free training so you can run a more efficient, referable and profitable broking business.
Many a broker has ventured into the 1-to-many business model, but they don’t all come out alive.
In this interview, Rose de Rossi shares how, in collaboration with her business partner Tracey Lea Gilbert, they have built a successful sub-aggregation group that expands their impact and grows their bottom line.
And they aren’t done just yet.
As Rose candidly admits, they’re very much in a growth phase and looking to bring on more brokers on the west coast, and in the east.
Moreover, in the conversation with Rose, topics we touch on include:
If you would like to reach out and continue the conversation with Rose, you can email her, call on on 0411 181 938, or connect on Facebook.
Run a More Efficient, Referable & Profitable Broking Business :
Watch this free training so you can run a more efficient, referable and profitable broking business.
In this interview, Caroline Jean-Baptiste talks about what it takes to be an active and involved mother while also operating a successful mortgage broking business. Who says you can’t have both!
Having previously worked in the cruise liner industry, Caroline talks about how she made the transition into broking, and then into operating a successful broking business.
With a legion of fans who advocate for her service, Caroline earns plenty of referrals, which is coupled with a host of marketing activities that have built her reputation as a legitimate expert in finance.
This includes using LinkedIn to generate new enquiries - a strategy Caroline has been using with a high degree of success.
In our interview, Caroline also touches on tech tools, building a team, and strategies for streamlining the lodgement process.
If you want to connect with Caroline, you can do so right here.
Double Your Settlements:
Watch this free training so you can double your settlement volumes with structure and consistency.
As a multi-award winning broker and perhaps one of the most respected brokers in the country, Peita Davies has seen a lot in her 17+ years in the industry.
Transitioning from the dental industry, Peita shares how the core principles of great service have been the bedrock of building her business, reputation, and loyal customer base.
With an entrepreneurial flare, Peita also talks about the various business models she has deployed over the years to grow the business while also having a team of great people whom she can lead, inspire and contribute to career success.
If I was to describe Peita in a word, it’d be “integrity”. No pretension, easy to get along with, and incredibly straightforward.
It’s no wonder the bulk of her business is repeat and referral.
I hope you enjoy learning about Peita’s journey and taking away some insights you can apply to your business.
And, if you want to reach out to Peita, you can reach her here.
Double Your Settlements:
Watch this free training so you can double your settlement volumes with structure and consistency.