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5 ways to settle more loans in 2018

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Loan Market 4 minute read

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It’s no news to a broker that more time with customers equals more settled loans. But the million-dollar question is, how do you get that time?  

Here are five things you can do right off the bat:

  1. Get some admin support
  2. Access more pre-qualified leads
  3. Be powered by a CRM that works as quickly as you do
  4. Learn on the go
  5. Diversify your business to access more revenue streams

1. Get some admin support

Loan Market has saved brokers over 19,000 hours through their back-office support program.

Whether you’re a one-man band or have a team behind you, when you get the nod from the client to go ahead with the loan, you’re on a mission to get it processed as quickly as possible so you can get back to them with the good news of approval.

Loan Market has a back-office support program offering dedicated support officers to help brokers do just that.

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Broker Support Officers can turn files around in as little as two hours and help with:

  • Data entry in your CRM
  • Loan lodgement and tracking
  • Submission of supporting documents
  • Ordering valuations
  • Raising pricing requests
  • Generating compliance documents
  • Coordinating settlements

2. Access more pre-qualified leads

Who doesn’t want more and better qualified leads?

Being armed with in-depth customer information before you pick up the phone is a powerful tool. Loan Market has done its research and developed a CRM that pre-qualifies online leads so you know who and what situation you’re dealing with before you make the call.

With clients entering their information and supporting documents directly into the system, you don’t just get leads, you get a pre-qualified application. Fewer questions equals more time focusing on the relationship with the customer. Now that’s working smarter!

3. A CRM with the smarts to support your business

Built by 100 brokers, for brokers.

Nothing frees up more time than being backed by a CRM that makes your business flow. Loan Market built MyCRM to manage your clients, your referral partners, risk and compliance and workflow efficiencies.  

Your service doesn’t stop once the client has settled. Marketing automation has been built in to ensure your clients receive the right message from you at the right time whether by email or SMS.

There’s a long list of features in MyCRM:

  • Mobile-designed, cloud-based — available for you anywhere, anytime
  • Apply-online lodgement
  • Visual lead pipeline
  • Referral management
  • Easily manage fixed rate loan expiries and loan settlement follow-up
  • Range of financial and serviceability calculators
  • Up-to-date product information
  • Comprehensive lender document library
  • Instantly send email and SMS messages

4. Learn on the go

Over 160 courses on demand at your fingertips.

While you can’t create more time, how you use the hours in your day is key to being a successful broker. Nothing cuts into face-to-face time with clients quite like taking days out of the office for training.

Compliance, process improvements, aggregator updates, referral partner tools, marketing how-to’s and broker case studies — it’s all within Loan Market’s online learning platform: Springboard. Accessible from wherever you are, Springboard offers flexible training via podcasts, videos and interactive courses to keep you on track.

5. Diversify your revenue to boost your business

Three opportunities to offer more to your clients.

Why provide just one service when you could help your clients with so much more, driving better client engagement so they don’t love you and leave you.

Loan Market has three established partnerships at your fingertips.

  • 1. Partner with Ray White — Australasia’s leading real estate group

Loan Market brokers received a whopping 34,799 leads from Ray White agents in 2017. Want a piece of that?

  • 2. Working with Wealth Market — financial advisers help you keep in touch with your clients

Taking care of your client’s financial wellbeing by introducing them to a qualified financial adviser helps build ongoing client relationships, which means more repeat business (loan duration with good financial planning extends from average five to nine years).

  • 3. Asset finance — customers need more than home loans.

Sixty per cent of new home buyers purchase a car within the first year of owning their new home. That’s huge! As a broker, you are in a great position to offer further help with asset finance (think cars, equipment, caravans, personal loans, shop fitouts and even helicopters!). Being able to help your client in more ways than one makes for a sticky client who will keep coming back and recommend you to more family and friends.

Let us know how we can help you settle more loans.

5 ways to settle more loans in 2018
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