Are you writing a lot more business than you used to? You’re not alone. Being flat out has its obvious advantages – number one being you don’t have to worry about where your next deal’s coming from. But while business is good, it’s easy to forget that times have recently been tough.
There are some important habits you can form now while business is flowing well, that will separate you from the pack, and ensure that you always reap the rewards -whatever the market conditions are.
By Graham Doessel, Non-Legal Director MyCRA Lawyers.
In Australian Broker yesterday, it was reported that brokers are seeing a big boost in their market share – up to on average 46% of all home loans in the three months to the end of September.This compares to about 40 per cent 18 months ago and a low of 38 per cent during the global financial crisis.
Great news – but brokers can do some really important things to make sure this trend is not temporary.While you have more clients on your books, build a plan to keep in touch with them NOW – yes, now, during the busy times. You might as well start when you have plenty of clients.
But let’s talk about content. What do we keep in touch about?
In my experience as a broker, I found there are four main areas of interest to your clients:
How much do you know about your client? Keep in touch on their birthday; when their house anniversary comes around; when you have a new product or service which might interest them; or any old time you’re thinking of them. Personal correspondence is always endearing.
2. Their footprint in the market.
Most clients would be interested in what the housing market is doing in their area, and how they are faring in comparison to others in their area. Likewise, information on their business and investment markets will also be well received.
3. Opportunities they can take to be better.
New products or services which will enhance your client’s lives, or cut the length of their mortgage down would always be of interest. Whilst understandably many brokers can’t give financial advice to their clients, they can give the benefit of their experience and their knowledge to tell their clients something they didn’t know.
Do you forsee interest rates as having a major positive impact on most of your existing clients? Should your bad credit clients look at getting into the market sooner rather than later? Is there someone you can put your clients in touch with who can enhance their lives?
4. How you’ve helped them.
When your client has saved thousands because you have helped them find a professional to repair their credit rating before you’ve fitted them into a loan, tell them. When you helped them find a loan that was right for them that ended up being the best long-term choice, tell them. If they’ve saved thousands over the years because you found them a more competitive interest rate, tell them.
Actually pointing out what you are doing or what you’ve done may seem obvious, but it may not be so for many of your clients. Showing them where they are saving money, where they could go wrong, and how your extra effort and experience is going to benefit them will mean they feel confident about the decisions they’ve made, and more willing to make another one under your guidance next time.
So keep in touch now, and create those habits that will weather any storm.
We would like to extend our thanks to the many brokers who have allowed us to help them create business in their future, by looking after their clientele with credit rating issues and inconsistencies. We are so happy to hear many have gone back to their brokers to be fitted into a better product, and saved thousands. The loyalty amongst your clients is unmistakable – and that’s reaping real rewards.
Call MyCRA Lawyers today on 1300 667 218 and find out how credit repair will work for your clients. Also ask about our generous broker referral system.