One Australian mortgage broker recently told The Adviser that the secret to his success was refusing to do house calls. If you go out and visit people, you’d end up only seeing two or three people a day,” he told The Adviser in a January 9 article.
“Before Christmas, I was seeing seven people a day. When you go to a house call you sit down, they give you coffee, you talk about social things and you’ve got to meet the dog. It’s the biggest waste of time.”
However, customer service expert Martin Grunstein told The Adviser in a January 17 article that this type of policy shows arrogance, something usually associated with financial institutions.
“The mortgage broking industry only exists because the banks are arrogant and inflexible,” Mr Grunstein said.
“Independent brokers could liaise between the banks and brokers, and their point of difference was being flexible and able to do business the way the consumer wanted.”
Mr Grunstein went on to say that the reason mortgage brokers can flourish in the loan servicing industry is because they are selling more than just mortgage products – they’re also offering “stress management and convenience”.
Regardless of who may be right, this disagreement illustrates one of the key reasons why mortgage broker careers can be so rewarding.
Being an independent mortgage broker means you are your own boss, and you decide how you want to conduct business. If you believe house calls can improve your business, go for it. If you’re opposed to the idea, insist on clients coming to your office.
Either way, mortgage broker careers offer control and flexibility in regards to how business is conducted.
While some things remain important for all brokers, such as proper mortgage broker training and mentoring, the path a broker walks ultimately comes down to which methods suit them most.
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