New Broker Academy 2022 wraps up

The events saw a huge turnout across all three states, welcoming almost 200 delegates to Rydges in Brisbane (6 September), 300 guests to Montage, Sydney, 8 September and more than 300 to the Crown in Melbourne on 13 September.

The roadshow aimed to equip new and prospective brokers with the strategies, skills, and knowledge to grow and succeed in their first three years of becoming a mortgage broker.

Alongside this, it provided solid sales fundamentals and tips on how to attract and convert a high percentage of client enquiries.

As well as providing informative sessions and Q&A discussions, the New Broker Academy 2022 enabled brokers to network with fellow brokers and industry professionals during allocated networking breaks.

Commenting on this year’s New Broker Academy, NextGen head of broker partnerships Renee Blethyn said the first two years in this industry are the “hardest” so initiatives like the New Broker Academy are a “fantastic avenue” to educate and empower new entrants right from the start.

The morning session informed emerging brokers of the role associations and aggregators play, inviting managing director of the Finance Brokers Association of Australia (FBAA) Peter White who shared how brokers were better positioned and well supported to succeed with the support and backing of associations and aggregators, which provide education, training as well as lobbying government for industry changes such as best interests duty.

After the FBAA provided insight into the challenges for new brokers and available resources, three leading aggregators, Lendi, Mortgage Choice and Yellow Brick Road, explained their services and offerings, such as, the associated costs and remuneration structures (fee versus commission split), and how to choose a model that meets their requirements.

Delegates also heard from industry specialists who unveiled their recipes for success and practical advice.

First up, with 20 years in the mortgage and finance industry, Broker Profits Vault CEO and founder James Veigli offered brokers the blueprint to building and launching a successful business.

He started by shining a light on six traps most brokers fall into, and then discussed a formula to achieve desired “numbers” by working “smarter” rather than “harder”, before discussing three areas of business that brokers “need to master”.

The importance and power of effective marketing and having a strong web presence was driven home by marketing specialist Dilek Saticieli, founder and CEO of Attraction Marketing, who also drummed in the “power of niching”. From getting a professional bio to utilising videos to promote your brand and ensuring the bones of your business — your CRM is up to scratch, Ms Saticieli told delegates to “take control of your online presence”.

Critical to a good website was ensuring information is relevant and informative by using engaging videos, she said and shared tips on how brokers can create impactful marketing that reaps returns.

“Videos are the top thing you can do in marketing,” Ms Saticieli said, adding that Google my Business was under-utilised, particularly ensuring raving client reviews.

Finni CEO Paul Glossop then provided delegates the tools on how to diversify their leads funnel by forming strong referral partnerships with financial professionals with similar goals and brand alignment (while avoiding common mistakes when establishing these partnerships).

If the importance of referral partners hadn’t sunk in yet, Success and Broker business coach Ruan Burger outlined the key steps needed to build a strong brokerage, which included how to form key relationships and partnerships.
From making key connections to streamlining duties, Mr Burger said brokers need to “make a pitch”, so referral partners know how to sell you.

Leading brokers across all three states showcased how they run their successful businesses, the challenges they encountered in the early days and how they overcame them.

Recommendations such as ensuring their aggregator and franchisor provided ongoing support, to specialising in writing one loan before increasing your portfolio, the brokers navigated the world of broking from a personal perspective.

New brokers were also shown how to capitalise on opportunities and avoid common pitfalls and incorporate essential systems and processes to maximise efficiency.

Hearing from mortgage broking platform Effi’s CEO and founder Mandeep Sodhi who expanded on ways to maximise efficiency through the use of its lead management platform, before leading non-bank Pepper Money, highlighted how specialist lenders are meeting a gap in the market.

Director at Purple Circle Financial Services’ Michael Stephens also took to the stage explaining how brokers can scale their business and “wow clients” by harnessing an exclusive network of like-minded brokers.

Summing up the day, Mr Mentor took to the stage to drive home the importance of finding a good mentor to guide you through the early years of becoming a successful broker.

Having just received the “Mentor of the Year” award at the Australian Business Awards, the founder of Mr Mentor, Pauline Ryan, explained four programs on offer that can guide new and emerging brokers to long sustainable careers.