After more than 17 years in the broking industry, we speak with Liz Zaki about her journey into broking and how there’s no such thing as a bad question.
Liz Zaki came to be a mortgage broker in an unconventional way. Feeling unfulfilled in her career in IT, Ms Zaki decided she would buy her first property. However, struggling to find answers, the then-management consultant instead found herself traversing a path that led her to enter the sector in 2005.
Now, 17 years later, Ms Zaki has since founded her own brokerage, OneSite Finance, while also serving as a mentor for emerging brokers.
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We speak to Ms Zaki about her journey into broking, why she’s unconvinced she’ll retire and how there’s no such thing as a bad question.
The Adviser: How did you enter broking?
For me, it was a journey to actually find something that I felt I was good at, and that I was comfortable doing as a career. Before broking, I finished an engineering degree and then had a career in IT for a few years, but my heart wasn’t in it. One day, I decided I’d buy property – I was a very hard customer to convince. I wanted to know why I would go with a particular lender. I did try a few mortgage brokers, but I didn’t feel there was one person that could tell me.
So I knew nothing, but I knew about the rates and the fees. But I wondered, “How do I get there?” “What if I want to buy my second property?” All these are questions that no one answered for me. And eventually I became obsessed with it. I quit my job, studied for a certificate, and became a mortgage broker.
How was that initial transition for you?
In the beginning of my journey, my conversion rate was very low. I’d probably see 10 people, and only get one sale. But what I used to do was ask every single client that I would lose: “I’m really sorry, but I really want to know why you didn’t end up going with me?” I really wanted to learn how to become a better broker. It’s interesting because they’d tell me I talked too much, or I gave too many options. And I would put that in my book of research.
You’re a mentor with the MFAA. What made you decide to choose that path?
I love teaching and I felt that I really want to share my knowledge with the new brokers that come into the industry because this is not an easy job to do. There’s a lot of roadblocks and your heart has to be in it. I wanted to give back to the industry.
How did you get into mentoring?
It started as non-paid mentoring. I was mentoring my current broker, who’s been with me for 10 years. At the time, he was my business client, and he asked me to let him know more about broking – I’m always telling people how I love this industry. I’ve actually turned a few of my clients into brokers.
What is it about broking that you enjoy?
I feel like every day we are helping people in achieving their dreams, and I can educate them to have a better future. So my satisfaction is to see the result of my work straight away.
I also love that the sky’s the limit. Even now, I’m still learning every day. I don’t know everything, and there’s never a dull moment. I feel like this industry is so big that I don’t know if I’ll ever retire because there’s always something to do, something to learn.
What’s been a memorable challenge you’ve faced?
To be able to let go, delegate and manage a team, which I’m still learning. I have a great team. We’ve been together for almost three years now. Because of my team, I’m able to deliver and give better customer service to my clients because there’s only so much you can do as a person.
I think being a broker, if you want to give better customer service to your clients, you need a team behind you.
Is there anything you’ve learned about finding referral partners?
My attitude when I started was that I would do my best to show my clients that I’m a good broker, and build a relationship with their solicitor. At the end of the day, everybody’s busy. They want people that make their life easier.
One tactic I would do after settlement is that I would ask the client if they liked their solicitor. If they said yes, I’d call the solicitor and suggest we stay in touch and that I’d recommend them. They’re not going to say no.
What do you think is the mark of good customer service?
You have to be there for your clients. You always have to tell them that there’s no silly question. That they can ask you anything, even if they ask you like two, three times, because you do this every day. I always said to my client, “Look I’m always here. If you are not sure if you have questions, just ask me again. I’m fine with it”.
Are there any tips you’d give about how to engage with a client?
What I would do with my customer feedback is that I’d put it in my book of research. I have a home buyers guide that I [then] developed. I keep adding pages because my rule was that if I have to answer the same question, it’s important information.
Clients love it because everything is in front of them. And for me, it makes sure I’m on track to not missing information.
You can find out more about Liz Zaki and why she’s obsessed with the industry in The Adviser’s Elite Broker podcast.
Tune in to the episode Why Liz Zaki loves being a broker below:
[Related: Elite Broker: Peita Davies, MoneyQuest Penrith/Blue Mountains]
