New broker and rising star Bernard Desmond has revealed some of his top tips for new brokers at the ongoing New Broker Academy.
Loan Market broker Bernard Desmond, the winner of the Rising Start award at the Better Business Awards Victoria and finalist for the Australian Broking Awards 2018, shared his top tips for new brokers during the first New Broker Academy 2018 event, run in partnership with Heritage Bank.
Mr Desmond, who wrote more than $20 million in his first six months of broking, revealed how having a business plan and learning from other brokers had helped him on his path to success.
Speaking during the New Broker Academy event in Sydney on Tuesday (12 June), Mr Desmond said: “As a new broker, I was really nervous and I didn’t know where the next lead was going to come from… The first 30 days was really difficult for me, if I look back at it now, because I had no clue what I was doing... I was going back to customers several times, five or six times, because I was still learning.
“So, I sat down with my mentor to make a list to find the information that I was going back for and identifying how I could capture the information that I wanted before going to an appointment. We made sure we knew the structure of the appointment, having a checklist of the information that I needed to get and reduc[ed] the amount of times I was sitting down with the client. Over time, that process has only got better.
“If you are coming from a different industry, I’d spend a lot of time with your BDMs, and as a new broker, I’d say: see more clients, be more passionate and write a business plan.
“You really need to have a business plan and need to know your first 30 days, 60 days, 90 days, what activities are you going to do, and focus on that.”
The Victoria-based broker continued: “It’s a lot of work, a lot of hours, but you really need to have a really good support system. Mortgage broking can be quite [stressful], so you really need to surround yourself with your family, your support system and like-minded positive people who inspire you.
“You have to have that support because in the beginning is when you are putting in a lot of effort, a lot of evening appointments, a lot of late nights, a lot of rejections from the banks, understanding the policies.
“So, reach out to other brokers who have been in the industry, who have done well, and if they are writing $50 million, $60 million, or even $100 million, they have the formula. Learn from them.
“We should be sharing from each other. You don’t need to go and reinvent the wheel, because someone before you has done it. You just need to go and ask them the question.”
New Broker Academy 2018
Bernard Desmond will be sharing more of his tips for new brokers at the New Broker Academy event held at Melbourne Convention and Exhibition Centre tomorrow (14 June).
The free-to-attend event aims to equip new brokers with the knowledge, skills and networks needed to succeed and future-proof their career.
The Adviser’s New Broker Academy 2018 will also visit:
Places are limited, so secure your spot for New Broker Academy 2018 now or refer a colleague, peer or friend who would benefit.
Annie Kane is the editor of The Adviser magazine, Australia’s leading magazine for mortgage brokers. As well as writing news and features on the Australian mortgage market, financial regulation, fintechs and the wider lending market – Annie is also the host of the Elite Broker podcast and regulator contributor to the Mortgage Business Uncut podcast.
Before joining The Adviser team at Momentum Media in 2016, Annie wrote for a range of business and consumer titles, including The Guardian (Australia), BBC Music Magazine, Elle (Australia), BBC Countryfile, BBC Homes & Antiques, and Resource magazine.
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