Amid conflicting reports about the health of the Australian economy, the sustainability of mortgage funding and the prospects for our property markets, there’s an air of defiance across the broking industry.
Over the last few weeks every aggregator and brokerage head I’ve spoken to has the same agenda – to boost their sales and marketing support for their members.
There are of course plenty of brokers who are already highly skilled in sales and client management and it is this group that looks ahead with relish at what is a rapidly changing market. Why? They know their business will prosper whatever the market conditions because they have a competitive edge.
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Nevertheless, brokers that expect to run a profitable and lucrative business must now think carefully about their business strategy.
Mortgage broking is at the end of a huge bull run. When the market was awash with homebuyers it was almost impossible not to make money.
But the days of cheap credit and borrowers lining up for loans have gone – at least for the foreseeable future.
I believe there is still brisk business to be done in residential lending, but it will be harder to come by than in recent years. Brokers who adopt a hunter gatherer mentality will always be first to the deal.
Sales and marketing skills don’t come naturally to everyone but the good news is they can be learnt – and believe me, I’m speaking from experience.
In line with the growing broker demand for sales and marketing strategies, Mortgage Business has introduced a new regular section of the magazine dedicated to helping our readers increase their bottom lines.
With the support of some of the industry’s most accomplished professionals, each month we’ll showcase proven initiatives that can easily be applied to any broking business. We’ll talk to brokers who have successfully applied marketing strategies to their business as well as tapping into the knowledge of some of the industry’s veterans.
We hope that by sharing the secrets of others’ success, those who are finding the going tough will look to their peers for inspiration – and take their own business to new heights.
