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When it comes to kicking goals in the field of mortgage broking, newcomer Matthew Rose puts his best foot forward by raising his profile in the local community
With only two and a half years experience in the industry under his belt, Aussie broker Matthew Rose has picked up some important tricks of the trade.
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Where other brokers focus on growing their loan book through referral partnerships and diversification, Mr Rose sees value in promoting his business in the local area.
Earlier this year Mr Rose was named Newcomer of the Year at the Australian Broking Awards, an achievement that reflects an all round productivity and volumes to rival industry stalwarts.
In the 2011 financial year Mr Rose wrote $51 million in loans, his best year to date.
In his short time as a broker he has serviced approximately 500 clients and puts his success down to two things: attitude and activity.
“I always try and maintain a positive attitude towards what I do,” Mr Rose says.
“On top of that I listened to my state manager who told me about all the sorts of activities brokers can do to become successful,” he says.
Activating sales
These days brokers have little time to get out of the office, let alone to get out into their local communities for promotional activities and networking.
The new licensing laws have added a hefty workload onto brokers’ already heavily-laden plates, making it even harder than before to find the time.
Keeping up with regulation requirments, paperwork and the due diligence that comes with writing loans are all part of a mortgage broker’s duty.
But, says Mr Rose, so are your lead generation responsibilities.
“I like to get out and around the neighbourhood as much as I can,” Mr Rose says.
“Things like letterbox drops in your own local area and approaching real estate agents, forging relationships with one or two local professionals, doing a bit of cold calling,” he says. “It’s important to be active when looking for new business.”
One of Mr Rose’s most successful endeavours was packing up some lamington boxes and walking into local businesses in the late morning.
The Aussie team would walk into an office with these tasty treats, along with business cards and fridge magnets and pretty much declare that ‘Morning tea is on Aussie’, Mr Rose says.
“As well as building relationships with local businesses, leaving behind some business cards and magnets gets us into their lunchroom,” he says.
“So the next time an office worker is looking for a loan or knows someone who is, they’ll have our details and are more likely to give us a call.”
And it doesn’t stop there.
Mr Rose has been encouraged by the success of his marketing activities to further promote his business in South Australia. The young broker is currently in talks with a number of charities and sporting clubs about sponsorship opportunities.
“I’m starting to partner up with one major hospital here in SA and trying to work on a sponsorship agreement with them,” Mr Rose says. “We also have an arrangement with the Australian Submarine Corporation in Adelaide, which came out of a contract with a customer,” he says.
“It gives us access to new social areas and allows us to add value to corporate businesses.”
Last year Mr Rose was able to secure a sponsorship deal with South Australian Little Athletics under Aussie’s ‘Lend a Hand’ program. The program demonstrates Aussie’s commitment to supporting the local community and has the potential to deliver thousands of dollars directly to local clubs across the country.
“For every client they referred to us the company donated $100 to their sporting organisation,” Mr Rose says.
“That generated quite a lot of business for me last year and we’re hoping to continue that again this year,” he says.
“Some of the fundraising initiatives can lead to a little bit more of the social club side of things, which is the perfect environment to meet future clients and referral partners.”
Pay it forward
Some brokers place significant emphasis on their referral partners as a primary source of leads.
Mr Rose counts a referral network of six industry professionals including a real estate agent, a rental agency, accountant, financial planner and two conveyancers.
Having this team of professionals on hand works well for Mr Rose, but he is reluctant to accept it as the core of his business.
“It works well having referral partners, but to be honest it is not a top priority right now,” he says.
“I feel I refer more to them than they do to me, but that’s just where customers are in terms of the process and so forth.
“Having said that, when it comes to thinking outside the square you’re the first person they’ll be thinking of.”
Rather than relying on his referral partners to generate leads, Mr Rose strives to turn each new client into a source of referrals.
Every client is a potential source of business, Mr Rose says.
“What I care about is making the transaction and the experience as good as possible for the client that they feel obliged to refer me to family and friends,” he says.
To show his appreciation, Mr Rose rewards those clients who have spread the good word for him.
“I post a $50 Coles or Meyer voucher to any of my clients who refer me a new client,” Mr Rose says.
“It’s just out of gratitude, to acknowledge the referral,” he says.
