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Complacent and controlling brokers are costing themselves sales, according to Queensland’s top loan writer.
Mortgage Choice Brisbane general manager Matt Cunliffe was named Broker of the Year at the Queensland Better Business Awards.
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Mr Cunliffe wrote $82 million of loans in 2012/2013 and told The Adviser he is aiming for $100 million this financial year.
One mistake some brokers make, he said, is to give inadequate attention to clients who do not yet seem ready to take out a loan.
According to Mr Cunliffe, it is vital to give clients time when they want it, not when the broker wants it. “You need to be focusing all your time on every single client that is asking for your service,” he said.
Another error brokers can make is to limit their knowledge to a handful of lenders. “A lot of brokers get comfortable with one or two policies and that’s all they’ll sell, so they miss out on deals,” he said
Mr Cunliffe explained he had once made the mistake of trying to do everything himself, but learned to delegate so he could spend less time shuffling paper and more time meeting clients.
Mortgage Choice Brisbane wrote $115 million of loans in 2011/2012 and $176 million in 2012/2013. The goal for 2013/2014 is to grow 20 per cent to $210 million and to keep growing 20 per cent in the following years, he said.
Mr Cunliffe told The Adviser that the growth would partly come from an improving market and partly from getting the most out of the franchise’s brokers.
The franchise currently has three brokers and four support staff – although one of the admin staff is training to become a broker, so another support staffer may then be hired. It was often better for a business to add someone in admin rather than sales, he said.
“I’m of the firm opinion that the support staff underpin the growth of the business. That allows our brokers to maximise ourselves,” Mr Cunliffe said.
