Mr Liccione said emerging brokers in particular should understand that one lead can have the power to change the shape of their business, irrespective of market conditions.
“Savvy brokers will tell you there is never such a thing as a dead lead,” Mr Liccione said.
“People’s details come into your orbit for all sorts of reasons, but unless you take the time to keep in touch and find out when your services may become relevant to them, you will never really know what that lead could have produced.
“We set boundaries for ourselves that pre-determine the terms of reference we operate within, how we communicate and the processes that we set. But looking beyond those terms of reference is where the real magic is found, and successful brokers know this.”
To further reassure brokers, Mr Liccione highlighted an example of an eChoice broker who recently generated loans of $1.8 million after completing a loan for a purchaser of a property and a vendor of the same property.
“The original lead was 18 months old and whilst it didn’t initially convert into a transaction, the broker had kept in contact with the client through our customised campaign platform,” he explained.
“The client then eventually contacted the broker about financing a property purchase and after further discussions, the broker was then able to provide a refinance on another property and was also recommended to the vendor to arrange their finance as well.
“It’s a great example of the merits of keeping in touch and therefore top of mind for that time when a potential client’s circumstances do inevitably change.”
Mr Liccione added that brokers shouldn’t underestimate the potential for further business through existing clients.
“The power of one lead is immense but it comes down to what you do with it,” he said.
“A lead is never dead. One day they will do something. [You] just [have to] decide whether they are going to be doing it with you, or someone else.”
[Related: Decline in loan arrears continues]