Unique Finance Services is one brokerage that perfectly exemplifies how being upfront to customers can be beneficial in the long run.
“We do a preliminary consultancy screening, and then advise the client upfront if they are not ready yet to proceed in their current situation and to come back and see us when their circumstances have changed,” Vishal Gupta, Unique Finance Services director and 2018 MPA Top Broker of the Year finalist, told MPA.
With an approval rate of nearly 100%, Unique Finance carries out the fundamental five Cs of credit — character, capacity, capital, collateral, and condition — before taking on a client.
“Understanding credit and how lenders evaluate risk is important to be a successful top broker. You can only sell products based on their worth, but borrowers have to be worth lending to, as you cannot make the impossible possible,” he said.
When they take on a job, Vishal’s team ensures the customer is informed at every critical stage of a customer’s life cycle — from the first contact, to submission, to approval and settlement, to post settlement — and conducts a survey along the way to detect areas of improvement. Their clients get to enjoy a flexible service that suits their particular need; they don’t just tick boxes to complete a set of action points.
On average, Unique Finance generates an excess of $10m-worth of settlement each month as it continues to focus on maintaining steady growth in an ever-changing and fiercely competitive, regulated industry.
Larger office, more headcounts
Unique Finance saw its headcount increase when it moved to a larger office space that provides greater customer functionality.
“Our brand new, state-of-the-art office space is easy to get to for clients. Our price is reasonable for complicated submissions, and we have stepped up our digital and public promotions, and increased our printed marketing with business partners,” Gupta said. The brokerage’s public promotion includes setting up street signage in strategic locations with high traffic.
Unique Finance holds regular meetings to not only track work progress or red flag submissions, but to also celebrate team achievements.
A clear role
By being a top broker for years, Gupta has learned that being clear about his role and job description is important to ensure that the business will operate effectively and will deliver expected outcomes, if not exceed customers’ expectations.
Gupta has also learned that managing a business requires him to multi-task, and he needs the right support in order to keep it running at peak efficiency. Along with maintaining strong relationships with lenders and third parties, he assigns and assists his team to get critical and time-limited submissions over the line and settled on time.
“With a wealth of knowledge and natural trustworthiness, our friendly team puts all involved parties at ease,” Gupta said.