18% of brokers didn't settle a loan in the last 6 months - they are either passive, dormant or under-performing.
17 per cent of the broker population settled less than $2 million of new home loans during the half year1.
Seriously, how much can we bear?
We all know that negative headlines bring great readership, but does it inspire or de-motivate?
When I read all the negative media hype my response is usually – how is that helpful?
One broker may look at the article and think it's time to get out of the industry before it all gets too hard...
While another may look at the article and statistics and say 'well that's not going to be me!' and they start thinking about what they can do to avoid being part of these statistics.
When I read this research I think 'How great is it to be a broker right now!'
More than 80% of brokers are settling loans, and over 80% are settling more than $2 million per month. No wonder people are flocking to the industry. While more than 50% of loans are now settled by brokers, it still leaves a lot of room for brokers to take business from the banks.
Even so, most brokers we speak to on a daily basis are still looking for that next deal. What surprises us most is while some are exploring and investing in digital marketing, SEO and paying for leads, they seem to forget about the little gold mine of leads they already have sitting in their database.
Remember every single one of your existing clients all know someone in a 12 month period who needs a loan who they could refer to YOU!
You just need some great referral strategies to extract them from your clients.
1. Mortgage & Finance Association of Australia (MFAA) Industry Intelligence Service (IIS)
If you would like to learn how YCM teaches brokers how to extract referrals from YOUR client base, re-engage YOUR older clients to come back to you AND build significant, qualified volume leads from your referral partners, then join the YCM team on your PC for this month’s webinar.
See you there...
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