Powered by MOMENTUM MEDIA
the adviser logo
Broker

The two areas where mentees fail in their broking careers

by Graeme Salt4 minute read

Fear and excitement are the two emotions that I often see on the faces of the Walker and Miller Cert IV and I find that these two emotions normally determine the way that mentees tackle their new careers.

Mortgage broking can be a highly lucrative career. But it is not for the faint-hearted and can be complicated.

To continue reading the rest of this article, create a free account
Already have an account? Sign in

Most of my mentees have gone on to develop highly successful careers. But, of those who struggle, they can be divided into two camps.

The over-eager self-starter. This person says they can offer finance way before they are compliant; promises finance in sectors they know nothing about and then gets a shock when they realise how complicated it is pulling together a loan, ensuring everything is compliant and managing the settlement process.

Advertisement
Advertisement

The Professor. This broker is forever ‘getting ready to get ready.’ They say to themselves, 'once I know a, b and c, then I will be ready'. But then they tell themselves they need to know d, e and f. It continues beyond x, y, z such that they never feel confident marketing their services.

The failings of both types can be fixed. For my mentees, I have a 100-day plan which step-by-step takes them through what they need to succeed.

For the over-eager broker they have to learn that they are not selling something as straight-forward as fruit and veg. While for the Professor, they need to understand that sales is not a dirty word.

From there, the over-eager broker starts to present themselves more professionally while the Professor has the confidence to market to clients knowing that it is impossible to know everything.

Simply put, both mentees can be successful if they have:

rs  gs  jpg alt

JOIN THE DISCUSSION

You need to be a member to post comments. Register for free today

MORE FROM THE ADVISER

ABA finalists

Finalists for 2022 Australian Broking Awards revealed!

Run with the support of principal partner NAB, the Australian Broking Awards – which is now in its 12th year –...

READ MORE
Anthony Albanese new ta

Home owners in flood regions offered cash payments

Speaking at a press conference on Wednesday (6 July), Prime Minister Anthony Albanese confirmed that residents in the...

READ MORE
Sam Henley

Fifo invests further into BDM team

According to Fifo Capital (Fifo), Sam Henley joined the lender as its senior business development manager –...

READ MORE
magazine
Read the latest issue of The Adviser magazine!
The Adviser is the number one magazine for Australia's finance and mortgage brokers. The publications delivers news, analysis, business intelligence, sales and marketing strategies, research and key target reports to an audience of professional mortgage and finance brokers
Read more