Take my lead

While brokers with 10 years’ experience in the field can rely on their existing database to provide them with repeat and referral business, those who are new to broking aren’t in the same position.

That said, even those who are backed with experience wouldn’t turn down new leads.

But in today’s market, with a greater emphasis on web presence and so much competition in the third party channel, generating leads is certainly no walk in the park. This is where branded businesses come into play.

Branded businesses such as Choice Home Loans have a distinctive and trusted presence in the consumer space.

Consumers feel comfortable using a broker with a strong brand for their home loan needs because theyhave seen their branding online and on the television.

Choice Home Loans’ Wayne Banks-Smith says he has received a number of leads from his parent company over the years and these have oftenturned into “fantastic clients”.

“There will always be some tyre-kickers, but a good broker can sort the tyre-kickers from the keen buyers almost straight away,” he says.

“Today, and thanks in large part to the leads I have received from Choice Home Loans, my business literally feeds itself.

Choice chief executive officer Stephen Moore says the leads Choice Home Loans provides its brokers with are qualified and allocated using a number of methods.

As Mr Moore explains, Choice Home Loans has a strong online presence, which is growing daily.

This strong presence helps build consumer awareness, which immediately creates a level of trust between brand and borrower.

Any leads that Choice Home Loans receives are then passed on to brokers, which help them build their business.

“Leads are one of the key building blocks in any business, and branded businesses can provide brokers with leads,” Mr Moore says.

“We also focus on quality over quantity. What that means for brokers is access to clients who they may not have had access to.”

Of course, while receiving leads from a parent company can help brokers to grow their businesses, Mr Moore says it is just as important for brokers to focus on their own local engagement.

“While leads are important, you need to create a business that is self sustaining,” he says.

“A good branded business offers you the support you need to manage your existing database and establish referrals. That is how you will optimise your business.”

Mr Moore says brokers should see any leads offered to them by their brokerage as an added bonus and spend their time building up their presence in the local community – something a branded group can help with.

“You really want to take the time to understand your local market and then play an active role in that community,” he says.

“Absorb yourself into your local market – whether through sporting teams, the local church, the Chamber of Commerce or the Rotary Club.

“Combining local area advertising with a respected brand can help brokers establish themselves as the local trusted credit adviser.

“The beauty of a branded business is it offers brokers all the support they need and a brand they can bank on, without taking away their independence.

“At Choice, we continue to stress to our brokers that while they may be part of the Choice Home Loans brand, they are running their own business and can do so in a manner that suits them.”

Mr Moore says while traditionally branded businesses were tailored towards those who were new to the industry and needed help with lead generation, this is no longer the case.

“Over time, branded businesses have evolved and what we are seeing now is recognition that these businesses can provide brokers with a better outcome,” he says.

“Brokers who want to focus on providing good advice to clients can see the value in partnering with a group that can provide all the other support.

“We are seeing platinum brokers joining Choice Home Loans and that is because they see merit in having good business support, good business systems and, most importantly, tailored assistance that can help them take their business to the next level.”

Market appeal

Indeed, branded businesses can also help brokers create local area marketing campaigns that are unique to their businesses.

Better yet, these campaigns are created by marketing professionals who operate outside of a broker’s immediate business, freeing brokers up to work on other parts of their business.

Branded businesses like Choice Home Loans will provide its brokers with not only marketing collateral, but will help them build an effective marketing strategy too.

This marketing strategy can include a structured timeline for launching local campaigns, as well as a strategy for effective client engagement including e-newsletters, mail drops and automated greetings cards.

“Branded businesses give brokers that extra boost they need,” Mr Moore says.

“Branded businesses provide brokers with marketing and sales support, consumer recognition and leads. All of that is unlikely to be possible for brokers working under their own brand.

“Rather than being a jack of all trades and a master of none, a branded business provides brokers with the support they need so that they can focus on their core competencies – their high value-add activities. For brokers, that means providing tailored advice to clients.”