MPA Magazine has recently published an article asking whether it is time brokers learned to say no? The article suggests that resisting the temptation to bite off more than you can chew could be best decision you can make as a broker.
While it is important not to let people down or lose out on profitable business, the end benefits need to outweigh the extra effort exerted, whether that be from increased profit, client referrals or repeat business. Alternatively, finding the middle ground by utilising key property tools could be an efficient way to satisfy an outcome for you and your client.
For example, if your client is unrealistic in their borrowing capacity or re-financing based on their current property asset. You can save time going through the process by running a quick rp.autoval to immediately squash any overvalued qualifications. You can push back on the client or simply turn them away. Sometimes less than be more, and whilst gaining more clients may be perceived as growing your loan book, for the time and energy that may consequently come with it may not be worthwhile.
Setting realistic targets and values early in the process will ensure your relationship with the prospect.
Most brokers would go to the end of the earth for their valued clients. With the right property tools at your finger tips you can stay put and keep your clients happy.
Source: MPA article: Why broker’s need to learn to say no.