A recent interview on Australian Broker TV highlighted the challenge many brokers face of how to substantially grow their business in the current economic climate.
Stephen Moore of Choice Aggregation commented that the main challenge for brokers at the moment was to successfully grow their business when the market is tracking at 5%, not 15% like it was a number of years ago. Mr Moore stated that the challenge for brokers is to grow their business as a business with a key trend being a focus on business efficiency and effectiveness.
Tony MacRae of Westpac was also interviewed and pointed out that to transition into a business growth environment brokers need to ensure that all opportunities are maximised. Mr MacRae noted that ‘In a low growth environment, really nailing the delivery of turnaround of service and getting it right first time for customers, broker and the lender is really important.’ One of Westpac’s four key strategic themes is a focus on service quality. ‘How do we get an answer to customers far quicker, with less conditions and less complications?’ Said Mr MacRae.
Win more deals
To win more deals and grow your business, use RP Data’s expert property solutions to add value and enhance engagement with customers. Using RP Data you can expect close rates from walk-ins to increase by 10-20%*.
For example, rpdata’s On The Market™ listings can be used to prospect new customers who are moving and need a new mortgage. On average brokers serve territories of 30,000 dwellings so there are around 1,500 potential listings per annum in any given territory. You can expect around 10* new deals per annum using RP Data’s solutions.
Protect your mortgage book
An average broker in business for 5 years will have around 500 loans on their books. Around 30 of these clients will sell their house each year. To improve your retention rate you can sign up for alerts to notify you when your clients are selling their property and may a new mortgage.
For more information on how RP Data can help you grow your business phone 1300 734 318 today to see the difference that RP Data can make.
* Based on RP Data’s internal analysis.
Content source: Australian Broker Online.