Succeed in life; be mentored into your own systemised Mortgage Broker business
With most of the work done for you, your lifestyle is enhanced
What’s the point of working really hard if you don’t have the time and money to enjoy life a little bit along the way? Most Mortgage Brokers spend a small amount of time in front of the customer writing the loan and then they spend the majority of their time doing paperwork; writing the loan application, following up clients, solicitors, lenders and real estate agents for outstanding documents. Their job is to make sure everyone is progressing with the loan and that it settles on time with the least amount of fuss. The ratio of the time in front of the client versus the paperwork and follow-up for most brokers is around 10% to 90% - that is they spend 90% of their time doing paperwork and chasing people and only 10% of their time with clients. That isn’t right; it should be the other way around! A broker shouldn’t be behind a desk doing paperwork all day. A broker should be out in front of clients doing what they do best… helping them decide on the best loan for their situation.
Consequently we got sick of doing paperwork for a living and decided to develop a system that enables a broker to focus on the client instead. Taking advantage of the Be a Mortgage Broker business mentoring opportunity means you’ll have a team of fully trained, ex-bank, paperwork people that will do most of this monotonous work for you. With many, many years experience between them they will double-check loan applications, follow up missing documents that the client needs to provide and liaise with everyone necessary in order to progress the loan through to the time the loan settles.
This one simple but powerful system means that you’ll literally have around 70% more time than most Mortgage Brokers or Mortgage Broking franchises! I know what you're thinking, that kind of service is going to cost a packet, right? No way! - we’ve managed to negotiate it so that the full back office service, with most of your paperwork and follow-up done for you, costs you no more than what most brokers pay their aggregators just to be able to write a normal loan. So you’re literally getting that service for free! So basically you’re getting back around 70% of your time and still earning what most Mortgage Broking firms earn. That’s priceless! And it means that you get to spend more time either in front of the clients writing more loans and making more money or in front of a golf ball deciding which club to use! Less paperwork, more time and the same or more money simply means an enhanced lifestyle! That's the Be a Mortgage Broker way, work smarter not harder. No franchise fees – it’s your business not ours! All Mortgage Broking franchises that we know of charge you a substantial ongoing franchise fee to run the business. Sometimes they call this profit sharing to disguise it a little bit – but it doesn’t matter what it’s called its money that has to come out of your pocket. It makes sense from the franchisor’s point of view because they make lots of money but you as the franchisee literally end up paying hundreds of thousands of dollars in fees that you can avoid. For every dollar you earn do you really want to be paying 20% or 30% or more back to the franchisor? Wouldn’t that be better off in your pocket going towards your marketing or back to your clients to create loyalty? Oh yeah speaking of marketing I forgot to tell you that normally when you buy a Mortgage Broking franchise on top of your franchise fee you’re forced to pay a considerable marketing levy that goes into a marketing pool so the franchisor can advertise and get more business. Good in theory, the only problem is the amount of business that trickles down to you the franchisor most of the time is substantially less than what you pay out in fees.
Unlike a franchise, using the Be a Mortgage Broker business model means that it’s 100% your business which means you get to name it, grow it and really own it. It also means that it’s NOT a franchise therefore there are no franchise fees, no marketing levy, no ongoing fees at all except the normal aggregator commission that all brokers pay. In fact there are no ties back to Australian Mortgage Services in any way apart from our commitment to mentor you and help you for 2 years or longer if you require. The bottom line is it’s your business, you get to call it what you like and pour your heart, soul and enthusiasm into it however you want. And of course we’ll be there to help you along the way.
Don’t settle for a system that takes your commission and forces you to do mountains of paperwork and run the business their way. Don’t build someone else’s brand – Be a Mortgage Broker; build your own and make more money! Training
Most Mortgage Brokers go into the finance field learning as they go – that’s certainly how I got into the industry. A lot of trial and error and heartache along the way – however there is a better way! Being mentored into the industry through the Be A Mortgage Broker business opportunity means that you get full, extensive training provided. You don’t have to have any prior experience because you get professional accredited training, back office training as well as experiential, street smart training.
That means that you save valuable start up time and therefore you have more time for building quality referral sources that will feed you with loans month after month. It also means you can start writing loans from day one which means more income in your pocket. Not only will the training cut out months of no income as you figure out what you are doing it will reduce your start up capital and increase your confidence resulting in more loans written. If you know what you are doing then that confidence comes across as professionalism and competence which increases reputation and ultimately results in more referrals and customers. Mentoring We mentioned briefly earlier about the Mortgage and Finance Association of Australia or the MFAA, they are the main industry body in regards to providing membership, licensing, training and all service and representation to Mortgage Brokers in Australia. Under MFAA membership requirements… “an applicant with less than 2 years experience (over the past five years) in mortgage lending, mortgage broking or finance broking, must be nominated for membership by another member (or member’s representative) who undertakes to mentor (or ensure the mentoring of) the applicant (mentee) until they have had at least 2 year’s experience.” Taking advantage of the Be a Mortgage Broker mentoring system means that you will be mentored for the full 2 years by a Mortgage Broker with over 9 years of loan writing experience. That’s powerful stuff that will keep you ahead of the crowd and the great news is it’s all included in the price!
There are many factors involved in being successfully mentored into the Mortgage Broking industry but the desired outcome is simply this; – that you become a thriving, competent loan writer in as little time as possible.
The statistics on businesses failing in Australia is huge, 90% of all businesses fail within their first 5 years however I bet that not one of those has a mentoring program in place! If you are trained and mentored into the industry from an already existing successful Mortgage Broker then your chances of succeeding are dramatically increased.
Ongoing mentoring will help you make correct choices which will mean less time fixing things that go wrong, it also means that you can ease into doing things yourself not just jump in head first , this of course reduces your fear and anxiety. Knowing someone is watching your back and there for you means your confidence will be higher which will result in increased sales.
It’s amazing to me how many salespeople don’t get the sale because they don’t believe in themselves or their product, eliminating that uncertainty right from the beginning will be invaluable to you. Having a mentor sitting next to you at a client appointment shows increased professionalism in the eyes of the customer - they know you have many years of experience to draw on and will trust you for it.
We’ll work with you to set up ongoing referral sources One of the secrets to a successful Mortgage Broking business is quality referral sources – it’s a must for good brokers. We’ll teach you who to approach and who not to approach – we’ll also teach you what to say to set it up so that these sources will be motivated to give you business month after month. You don’t have to do this alone; we’ll go with you to these appointments to back you up. We’ve been there and done that so having us along will give you the confidence you want at the start when you most need it. Even if you don’t feel like you know what you’re doing at this stage at least you’ll look like you know what your doing which will increase your chance of securing some decent referral sources to get you going and give you repeat business. Ongoing residual income thrown in The hardest part of running a profitable business is starting. The first few months have a very steep learning curve and can be financially taxing. That’s why we’ve decided to start you off on the right foot.
Remember that residual, ongoing trail commission we talked about earlier? When you use the Be A Mortgage Broker mentoring model it comes with an exciting bonus; some existing clients – in fact around two to four million dollars ($3,000,000 to $4,000,000) worth of customers. That’s approximately 5 to 8 clients - depending on the loan sizes - that you get to nurture and look after for yourself. Of course at the start you won’t have to do anything except bank the earnings of around $5,000 per year or around $416 per month from these clients in ongoing, residual, passive income. But look after these clients and they will provide you with a future income source as they refinance and/or purchase new properties. In fact if they all refinance just once then you’ll get approx. $17,500 in upfront commission, work with these clients closely and you could get that every 3 to 4 years without much effort at all.
I hope you understand that this means you don’t have to put as much start up capital in, which means you get to keep more of your money in your pocket. In fact use the Be A Mortgage Broker business model and you don’t speak to anyone, don’t make a phone call or don’t do anything at all and you keep these customers - over time you would totally recoup your outlay! That means that your business risk is drastically reduced which gives you peace of mind and a good nights rest.
Also residual, passive income future proofs your business; you see it’s a sellable asset. That means that if over time you’ve built up a substantial trail book you could either stop work and let that income pay the bills or you could sell it to someone else. Or alternatively you could slow down a bit when the passive income builds up enough to replace some or all of your required income.
It’s all about choices and using the Be A Mortgage Broker business model gives you plenty. Don’t be fooled into buying a Mortgage Broking franchise that steals a large portion of your commission… be mentored into your own systemised Mortgage Broking business, completely owned by you, that earns existing ongoing, residual income from day 1 and has an experienced, ex-bank, paperwork processing team in place. |
