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The 5 things that the top brokers are doing to win business

by Christian Paterson5 minute read

To run a successful mortgage broking business, you need to find the most efficient way to attract new clients.

At the same time, you need to nurture your old clients, so you can win a steady stream of repeat and referral business. 

You might think it’s impossible to do all that work while retaining a good work/life balance. But it’s not. 

During my long career in the industry, which includes coaching one of the top brokers in Australia, I’ve learned what makes the best mortgage brokers so successful. And, no, it isn’t burning the candle at both ends. Just the opposite – the secret is to learn how to make more money in less time.

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How? By doing these five things: 

1. Embrace your CRM – so you can run your entire business from one place 

Workflow management tools, like CRMs, help you save time, comply with changing regulations and increase productivity. But it’s not enough just to have a CRM – you have to actively use it. Your CRM will help you create marketing campaigns (nurture clients), track leads (win business) and monitor loan applications from start to finish (manage deals). In other words, you can use your CRM to run your entire business. 

2. Invest in technology – so you can get more done in less time 

Wonder why top brokers can settle more deals than you? It’s because they use the latest tech to work more efficiently. The world has gone digital, with countless apps offering solutions to your problems. These tools can reduce your turnaround times and take time-consuming work off your to-do list. 

3. Create a support team – and then train and develop them 

You need to find time to work on your business, not just in your business. But that can be an impossible task when you’re the only one keeping all the plates spinning. A support team can give you back time by taking on some of your workload. That said, it’s not enough just to recruit staff. You also need to invest time and money to train and develop them. Otherwise, they won’t operate efficiently. 

4. Create systems and processes – and document them 

Building a successful, profitable broking business is inextricably linked to the processes and systems you have in place. That’s how you and your team get stuff done in the most efficient and scalable way. By the way, it’s important to create systems and processes even if you’re a one-person operation. That way, you’ll have more time to spend on business development and strategic planning. 

5. Get active on social media – so you can build and nurture relationships 

As a broker, you’re not so much in the loan business as the relationship business. As a result, your success depends on the relationships you build with clients and referral partners. So how do you get them to know, like and trust you? One excellent way is by regularly publishing educational content (rather than salesy content) on social media. This helps build your reputation, while keeping you top of mind as the go-to expert. 

Christian Paterson is director of Auctus Coaching and helps brokers build more profitable and sustainable businesses.

He has worked in the mortgage broking industry since 2006, first as a broker, then as an operations manager and now as a coach.

christian paterson

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