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Century 21 Home Loans Chief executive James Green has revealed his fail-safe rules to becoming a $100-million-a-year broker.
Mr Green wrote in a column for The Adviser that he had never seen someone fail to become a top-50 broker after following his 10 steps to success.
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One of Mr Green’s tips is for brokers to have an intimate understanding of their strategy and unique selling point, which he said is something many brokers lack.
“You need to build up a value proposition and practice it. Role play with your colleagues and record yourself on your smartphone,” he said.
“Your pitch has to close both verbally and non-verbally. This is what makes you money. Not practising a value proposition is like an AFL player not turning up to training. Any sales manager who hasn’t practised this with their team should do so immediately.”
Mr Green also said that brokers should force themselves to make at least 50 cold calls or connections to clients each week, as well as 10 cold calls to new referrers.
“When comparing two brokers at the same level, it is always the one disciplined enough to make their calls every week that has the most consistent growth and hits $100 million faster,” he said.
“Real estate agents have always been doing this and mortgage brokers need to catch on.”
Another of Mr Green’s tips is for brokers to help their referral partners grow, for example by identifying business opportunities and cost savings for them.
“With partners you need to put your ego aside and focus on enhancing their value proposition, so their business looks better and you will become an invaluable part of their team,” he said.
“Partners can give you a constant source of clients and every client can introduce you to two or three new partners.”
Mr Green also said it is imperative for brokers to hire full-time assistants if they want to become a top performer.
“An assistant will let you jettison all the non-dollar productive tasks that take you off the $1,000 per hour activities,” he said.
“Now that you have created the void in your diary, ramp up your prospecting and face-to-face meetings.
“Ask for referrals and testimonials. Get your clients to pitch their accountants, agents, planners and solicitors to work with you. Grow your referrer base and simply add more back office support.”
[Related: John McGrath tells brokers to aim for one deal per day]
Click here to read Mr Green’s blog.
