3 strategies that 20 top brokerages have in common

Find out what some of the best brokers in the country are doing differently that make customers want to stick around.

Director of Discovery Finance Group, Joshua Vecchio has written over $250m using techniques and tips being shared on his recently launched website Top Broker
 
I had the pleasure of being invited to a very special conference last week where my aggregator put together their Top 20 groups nationally for 2 days of networking and insights. There was a diverse cross section of brokers but one definitive thread ran across everyone that attended – they were all top brokers in their own right.

The group ranged from single brokers writing over $150M per year, to groups that were writing in excess of $35M PER WEEK – yes, per week. After spending 2 days with the group I found a few common themes which each person in the room used daily within their businesses – and I am so excited to share with you guys. Check it out and make sure you let me know your thoughts on Facebook and LinkedIn.

1. They knew how they helped their clients and their businesses purpose
Why do your clients come to you? In today’s fast paced society it’s easy to lose track of where you’re going. It is crucial for your business to have a definitive purpose and know how (and why) you help your customers. It’s like a boat trying to navigate the seas without a rudder – it will just go in circles with no direction.

These broking groups are the pinnacle in our industry, the best in our business and each of them had a specialty ranging from focusing on Nepalese and Chinese speaking expats, to investors buying house and land packages – they had a specific target market that they knew inside out and how their business helped each and every client.

So how are you helping your clients and why does your business exist?

2. Masters of process
Einstein once said, the definition of insanity is doing the same thing over and over and expecting a different result. That’s the same with having a process; a process is all about finding out what works and repeating it time and time again, and this group of top brokers were no different.

Each and every group had detailed processes mapped out for every single client interaction – from detailing the voice messages their staff had on their phones, to the client appointment process being mapped out in intricate detail, to a process of what happens 3, 6 and 9 months after settlement to ensure each client experienced the same flawless process.

Are you running your business ad-hoc or do you have your processes documented and down pact?

3. No customers, only advocates
How do your clients describe you when you’re not around? Are they raving fans or simply transactional customers? Genuinely caring for your customer and treating them like family should come easily for a broker – after all we should be making dreams come true – but are you? With each and every top broker I met they all had a deep seeded philosophy of being a customer’s broker for life.

Having customers as your advocates will happen naturally through genuinely caring for them, keeping them informed on their application as well as keeping in touch with them once the transaction has been completed. If you do this, like the top brokers I spoke with, the clients will certainly come back to you for any future lending requirements and will introduce you to their friends and family as a trusted advisor.

So are your clients raving fans or just transactional clients?

With our industry it’s easy to forget that there are no limits in what we can achieve, so hopefully by taking a step back and having a think about some of the points above you too can turn your business into a top brokerage. We would love to hear your feedback so make sure you drop us a line on Facebook or LinkedIn.

This article originally appeared on Top Broker, a growing online space where tips and strategies are shared by Australia's top mortgage brokers. ​