How to be a ‘life time’ broker to clients

Posted on: 31 Oct 2017


We split these key methods into a week schedule, here is what we found:

Monday: Get on the phone or email, contact past clients and current referral partners, provide them with useful information, and no sales talk or asking for business – become their trusted adviser. Your aim here is building a strong and long-lasting referral network.

Tuesday: Annual reviews of past clients where you provide up to date loan information, repricing where possible, property report, the suggestion that they review their life insurance and general insurance cover. This will generate more income through your different channels and clients will appreciate the maintenance call.

Wednesday: You still work for yourself, today is the day you lift the hood on your business and do some tuning up. Check for updates from your aggregator, industry news, update your MYOB, accreditations and check CPD points are on track.

Thursday: Your update day. This is the day you provide updates to all your clients in application progress. Wednesday or Thursday is a good day for this as you have allowed 2 or 3 days for the Lender to come back to you on answers or request for further information, and you have the remainder of the week to seek and receive back from client’s information the Lender wants. Update day also keeps your client warm and minimises the chance of them shopping someplace else.

Friday: Always take time out to thank people who refer business to you. It’s also a good day for some self-care, finalise any loose ends in the business and get a game of squash in. During the 2016 Better Business Summit, Tom Panos, Sales Coach & Public Speaker, reminded us of a good practice self-development routine. Begin every day with your form of mediation, this could in the form of exercise, playing music, listening to podcasts, etc. If your brain is healthy then your business will be too.

In amongst all of this, you still need to visit clients and write applications.

Some people find it difficult to lock themselves into a regimented schedule, this could work well for them, yet most of us need a schedule to help ensure these essential elements in running a business actually gets done.

Other tips:

Always look for ways to upskill yourself, there is a wealth of information on products and services that are related to your industry. Especially seek out services that will increase the value proposition of your business.

Be prepared to be knocked back by potential clients/referral partners time and time again, remember the cliché “You either win or you learn”

On those painfully difficult deals, a quick “no” is better than a slow drawn out “maybe/decline” – if something cannot be done, try and help come up with a plan so something can be done in the future.

Find time to network with other brokers outside of your aggregation network, observe what other brokers are doing in their business development.

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