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Having mentored and spoken with more than 7,000 brokers and having previously run one of the most successful brokerages in the country, Broker Essentials’ Jason Back reveals what the best brokers have in common.
The former managing director of the Australian Lending & Investment Centre (ALIC) and founder and director of Broker Essentials, Jason Back, recently told The Adviser that he believes that the most successful brokers are the ones who have a clear “why”.
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Mr Back elaborated: “What the best brokers have in common is they are laser-focused on their why, and they’re confident with their position in the market. They have a client value proposition, which is crystal clear, and they live and breathe it. It’s not just another throwaway line on the back of a business card or email signature.”
The broker mentor and MC for The Adviser’s upcoming New Broker Academy added: “The importance of understanding your “why” is critical to the connection you will make with your client. It has never been more important than now to understand that the problem you are solving for your client is more than just providing a home loan.
“I have long said that the best brokers in our market leave their clients with a feeling, not just a home loan. With an experience, not just an appointment. With knowing that they are with a trusted adviser on a lifelong journey, that they’re not just another customer that gets treated like a number,” he said.
Mr Back said that he believed a broker who has not discovered their why is “not truly invested in the craft”.
“They may say they are, but if they are honest, the industry has gotten harder and they are getting left behind and their clients are not getting the best of them. In fact, many of those that don’t know their why just got into the industry for all the wrong reasons, and maybe they would be happier finding their why elsewhere,” he suggested.
Mr Back suggested that brokers looking to find their why could ask themselves the following questions:
- Why am I in this business?
- Why am I not getting the results I wanted? (Be honest, you will already know the answer.)
- Why do customers buy from me?
“Just like every good business with a plan (yes, you should have a business plan even if it is just one page), you need to know why your customers buy from you. Start by creating a customer avatar that allows you to define your ideal client demographic, the market in which they operate, who the competitors are, what unmet needs they have, what are their fears/frustrations and their wants/aspirations? As it is just important to know your why, so it is as important to understand your clients’ why.
“So remember, your role as a broker is about solving your clients’ why – why they need you and, just as importantly, why you need them,” he said.
Jason Back will be the MC and speaker at The Adviser’s New Broker Academy, where he will reveal the blueprint needed to set up the systems and processes to run an efficient brokerage and how to identify and capitalise on new opportunities in the market.
Tickets are selling fast for the multi-state roadshow aimed at brokers in their first three years of business, which will visit Sydney on 14 May, Adelaide on 21 May, Melbourne on 22 May, Brisbane on 28 May and Perth on 30 May.
Find out more about the New Broker Academy 2019 and buy your tickets now to ensure you don’t miss out.
[Related: Top tips for new brokers from an award-winning broker]
