I hope you have found these series of posts useful so far and that it has provided ideas for new directions and new ways of looking at your business.

I believe every Mortgage Broking business, large or small, can be simply understood and improved by looking at each of its four components, as I have detailed throughout the series of posts.

With your Initial Marketing you need to firstly present yourself in a genuine way and take the time and effort to understand your target market, and then build educational marketing assets that speak closely to the concerns of this target market. Then you need to have ways to stay in touch with them that demonstrate your expertise and relevance to them and their needs with the goal of building trust and drawing them closer to you.

You need to build your referral relationships in exactly the same way. Determine what you can do for your referrers that they actually need, then do it. Make yourself invaluable to the businesses that can help yours so they have to work with you. Providing others with what they want is the best way to get what you want, be they clients or referrers. The good starting point is to find other people who are good at what they do and then get to know what is going on with your clients so you know when to recommend them to others.

Your Sales process needs to be congruent with your Initial Marketing. It must have the clear goal of building the relationship of Trusted Advisor with your clients and educating them as to the lifetime value of your service to them. Your goal is to create a client for life, not a single deal. And a new client is not necessarily defined as someone you have earn a commission through, but rather as someone you have helped in some way and brought into your circle of influence in preparation for future loans.

The Operational side of your business, whilst not necessarily the easiest in terms of work required, is the most straightforward and well resourced. Take the time and effort to learn all the latest lender policies and products and all the support and tools that your Aggregator or Franchise or offers. Also, no Broker knows everything in the constantly changing industry we work in, so become part of a network of Brokers where you can freely share scenarios and lending knowledge. Broking is largely an individual pursuit and can be an isolating occupation, if you let it.

At Mortgage Australia, we have a Facebook Group just for our Brokers where we can share loan scenarios, business ideas and pretty much anything related to being a Broker.