Lending specialists that have been in the industry for more than 15-years keep their eyes open for trends. Hot on their agenda are the habits and beliefs of successful mortgage brokers who take the ordinary and make it extraordinary. Let’s look at some of these habits now.
Brokers who are success motivated do not rely on luck. They back themselves, their skills and their ability to deliver results. They then work hard and diligently to achieve goals that they have set themselves. Some of the most frequently practiced habits that these brokers have adopted are as follows:
1. Problem-solving skills: Use of resources or personal ingenuity to solve issues that arise, typically allows this breed of broker to resolve any issue. The broker who can problem solve usually identifies a problem well before it becomes severe so that they can gain control of the problem and then find a suitable solution.
2. Enthusiastic personal drive: In any business there are ups and downs, and a successful broker knows how to push through challenges, so they move to the next level of performance. These brokers know that if they push through, rather than throwing their hands in the air in despair, they will be rewarded.
3. Ability to drive themselves: Rather than thinking inside-the-box, successful brokers push their boundaries, so they often work outside their comfort zones. These brokers do not focus on their mistakes or failures. Instead, they learn from these and look for more opportunities.
4. Product knowledge: Knowing and understanding what products are available to clients enables the successful broker to cater specifically to personal needs and also financial situations. Comprehensive product knowledge also allows the successful broker to find cost-effective solutions for clients.
5. Highly disciplined: By focusing on the tasks at hand, seeking new opportunity and concentrating on growth activities, successful brokers achieve more. The highly disciplined broker has a routine that they follow, and they are actively pursuing leads.
6. Excellent time management skills: By managing their time effectively, a successful broker fits more into their day and keeps their client informed. These brokers also use the right strategy to analyse situations so they can build better client relationships.
7. Knowledge is powerful: Upskill regularly; this keeps the successful broker one step ahead of their competition and their knowledge up-to-date. Upskilling enables a broker to deliver a better quality of service to their clients.
8. Measure success: A broker cannot develop anything if they cannot measure how well it’s doing. Successful brokers, measure their activities and how these activities have led to settlements.
9. Know how the industry is evolving: The mortgage industry is constantly changing, especially digitally. Electronic applications are growing in number, along with technology. The number of lending products is also expanding. Successful brokers know what the industry is doing and how they can adapt to these changes.
Overall, diversification is the key to success for a broker. Do not rely just on home loans to get you over the mark. Offer a number of services that interlock and complement each other, such as income protection, and life insurance. For instance, eChoice brokers do more than compare home loans. An eChoice broker can offer their clients insurance for any situation – life, disability, and income – so that their customers won’t be concerned about their financial position should the unexpected happen.
eChoice brokers can also assist their clients with asset and equipment finance, which allows them to diversify their revenue stream and cater to a broader range of borrowers.
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