While some brokers take a while to realise which customer segment they’re most effective in servicing, Azura Financial Credit Adviser and 2019 MPA Young Guns finalist Max Harris already knew at the beginning that he wanted to target young and ambitious real estate agents who he can identify with as future high performers.
Harris told MPA that he chose the particular market segment because when their careers take off, so will his.
During Harris’ early days in broking, it was all about prospecting for referrers and leads by attending open inspections or catching up with various buyers’ agents or accountants. These days, however, because of the strong relationships he has formed with his referrers, Harris receives a consistent amount of leads every month and his reliance on prospecting lessened. And by surrounding himself with high-performing brokers with experiences across various fields, he is able to navigate difficult lending scenarios.
“I’m also starting to receive more and more self-generated leads on the back of marketing, and positive word-of-mouth referrals from existing clients,” Harris said.
Going for a university grad
To keep his commitment to be available 24/7 to his clients, who mostly own multi-million dollar portfolios or are high-income earners with complex lending requirements, Harris plans to hire a full-time assistant to handle the back office side of his business. This will allow him to free up more time for revenue generating activities.
Harris once hired an assistant from a job-hunting platform when he was looking for someone with mortgage processing experience. "Going forward, I would prefer to hire a university grad with a relevant interest in finance that will be motivated by the work we do, rather than someone who is more task-orientated," he said.
Providing true value
In the past 12 months, Harris considers nailing his proposals back to clients as the one change he did on how he does business that made the biggest impact on his volume.
“Anyone can gather information over the phone or via email, and come back with the sharpest rates, but only the well-educated and experienced brokers can provide a detailed and personalised proposal that aligns with customers’ long term goals,” Harris said.
“That is the true value of broking.”