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This high-performing senior broker explores how he got into mortgage broking and his top tips for new brokers.
How and why did you become a broker?
I started broking in 2007–08. [Before that, I was] in hospitality and I really enjoyed talking to different people. In hospitality, people wear different hats, some are drunk, some are sober, from all different walks of life and I think I really got good at understanding how to relate to different people.
I used to run pubs in Brisbane … and so we used to get a lot of mortgage brokers that would come in, obviously, celebrating, like loan and settle. And a lot of them actually would say to me, Kieran, this would really suit you because you know how to talk, you know how to relate to people, which I still think today, that’s one of the biggest skill sets you need in mortgage brokering.
What tech do you use to make your job more efficient?
We use BrokerEngine. You need to choose one and have that as your truth source. [We use] BrokerEngine because it’s aligned to AFG, which makes it easier. And secondly, it’s just the one truth source. So everybody’s in it, everyone puts details into it. So it’s a one-stop shop
We also use Sherlok to do the pricing.
What challenges are you facing?
Going from about 100–120 loans per year to 200–250 [has been a challenge]. It’s like a glass ceiling mindset. You’ve got to … know what you’re good at and what you’re not good at. So I had to become really good at outsourcing and trusting the other person.
I hear the processing staff say that there still [seem] to be issues with applying online. This is wishful thinking, but imagine if there was just one universal application for every lender. It would never ever happen.
What have your main accomplishments been?
I hit the 100 [million] mark and then obviously went higher again. That was a great achievement for me, being based in Queensland.
I was also coaching and bringing on new brokers and understanding how to get the best out of them. We will probably go very close to doing nearly 300 million for this year. So it’s been a gigantic jump.
What are your top tips for new brokers?
We’re in the game of building relationships. That’s one of the biggest skill sets you need in mortgage brokering. Sometimes I think to myself, we’re actually not in the game of doing mortgages. If you’re constantly doing appointments and you’re constantly building relationships, the loans will come.
Sometimes people get fixated. I had a broker the other day saying to me, “Kieran, I’m only going to write loans over 1 million”, and I just think, again, it comes down to relationships.
You need to be really good or understand what you’re good at and then take that and focus your whole business around that.
Tune in to the Elite Broker podcast episode, recorded live on stage at the Better Business Summit to hear more from Kieran Jefferies: How this broker runs a high-volume business.
[Related: How this broker runs a high-volume business]
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