Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Broking is a round-the-clock business, says broker

fane levy ta fane levy ta
Malavika Santhebennur 5 minute read

Brokers should aim for “round-the-clock” efficiency and return a client’s call within two hours, advises a Sydney-based broker, who has outlined how broking is increasingly becoming a 24/7 profession.

Speaking to The Adviser’s Elite Broker podcast, Shore Financial senior credit adviser Fane Levy said easy access to the internet and devices means brokers must be accessible to clients at any time of the day in order to retain clients.

“I think customer service is the absolute foundation of any business, but especially in broking because any broker can write the same loan and get the same rates,” Mr Levy said.

“However, it’s about that round-the-clock efficiency and effectiveness, which would make it more beneficial and suitable to the clients. If you don’t get back to your clients within, say, two hours, they’re already either talking to their bank or talking to another broker,” he warned.

Advertisement
Advertisement

“You want to make sure that you can help them purchase their next property or upsize in the future, so presenting detailed options but in a way that they can understand it,” he said.

“If they need to speak after hours, make the time to speak after hours.”

Mr Levy also highlighted the importance of maintaining contact with clients in the post-settlement period of a home loan, adding that he conducts client check-ins every three to six months.

“That’s definitely one of the most important parts. The last thing you want is for a client to think [you have] been great along the way, [but after the home loan has] just settled and you don’t hear from him [again]. That’s terrible customer service,” Mr Levy said.

The Shore Finance broker added that, in order to keep up with the round-the-clock demands of broking, he has outsourced this function offshore, where a dedicated staff member handles the post-settlement period for a client.

PROMOTED CONTENT


The staff member contacts the client through email to provide any relevant updates, including movements in interest rates from the Reserve Bank of Australia (RBA) and options to change home loan arrangements.

Advice to new entrants

When asked for his top tips for new brokers, Mr Levy said new brokers entering the field should increase their referral network by attempting to meet a new referrer frequently – either once a week, fortnight or month.

“Go out, meet agents, meet accountants, meet solicitors, doctors. Also nurture your relationships with the banks themselves,” Mr Levy proferred.

“I basically like to position a lot of my loans with the banks that give me the best support, knowing that if I speak to my BDM (business development manager) or the credit manager there, and they say a deal looks good, I can feed it through with confidence.”

To hear more from Fane Levy, tune in to this week's epsiode of The Adviser’s Elite Broker podcast.

[Related: How this broker offers round-the-clock service to his clients]

Broking is a round-the-clock business, says broker
fane levy ta
TheAdviser logo
fane levy ta
Malavika Santhebennur

Malavika Santhebennur

Malavika Santhebennur is the features editor on the mortgages titles at Momentum Media.

Before joining the team in 2019, Malavika held roles with Money Management and Benchmark Media. She has been writing about financial services for the past six years.

 

more from the adviser
House of Representatives NEW ta MPs highlight broker concerns in Parliament debate

The Member for Fisher says brokers back the bill repealing resp...

uptick graph Liberty reports surge in new loan originations

The non-bank has reported an 11 per cent growth in new loans writ...

Lleyton Hewitt Andre Agassi ta Tennis legends discuss business resilience amid COVID-19

Andre Agassi and Lleyton Hewitt underscored the importance of bus...

FROM THE WEB