Do you pay referral fees?


Before starting my own business I worked for a number of different companies and each one had a common trend about them, which was the reason I eventually went out on my own… They all required me to generate my own leads. This still bugs me to this day in that I really think it…

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How have you communicated the RBA’s rate reduction to your clients?

A conceptual look at variable interest rates. Where next?

I don’t know about you but whenever the RBA changes rates either up or down a little bit of me sighs as I know there will be further work for me to complete over the coming weeks. I understand that sounds a little lazy but deep down I know the truth is most brokers would…

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How do you recommend lenders to your clients?


Have you ever heard of the phase ‘paralysis by analysis?’ My trusted source Wikipedia defines it as, ‘an anti-pattern, the state of over-analyzing (or over-thinking) a situation so that a decision or action never taken, in effect paralyzing the outcome.’ For the mortgage industry, due to the technology disruption we have experienced during recent years,…

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Why I’m not doing refinances anymore

Home Mortgage Refinance

A few years ago I made the decision not to go after refinances. I mean, sure I still do them if an opportunity falls in my lap, but these days I just don’t get caught up with the whole, “a reduction in your interest rate by just 0.2% can save you thousands over the life…

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Have you ever thought about commercial lending?


This morning The Advisor referenced a speech that Vow’s general manager Leighton King gave at their mini-conference for brokers in Sydney last week. Leighton compared the surge that the third-party channel has experienced in business off the recent housing boom to the oil crisis in Russia and Saudi Arabia, quoting, “Russia and Saudia Arabia will…

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What are the biggest challenges facing your customers?


To survive as a mortgage broker long term, it is critical to position yourself as a solutions provider as opposed to having ‘the best rates in town.’ In order to do this effectively, you need to put yourself in your customers shoes by asking the question, “What are the biggest challenges facing my clients?” Really…

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Why it’s important not to sell on rate

Falling houses with percent symbol on sky background

I’m sure you’ve heard this statement before from BDM’s, banks and other brokers. They’ll tell you the discussions you have with a potential client should never be about rate. Instead you need to sell them on the “offering” of the lender that you’re looking to place them with. From my own perspective, I remember a…

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Why you should be a connector


In a previous blog post, I talked about how to build a referral relationship, specifically what to do the first time you meet a potential referral partner. In this post, I want to address how to follow up after you’ve made your first contact. Now in that previous post, I mentioned that after I’ve met with a potential…

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Why you’ve really got to get on the front foot right now


I am sorry it’s been a little while since I’ve touched base with you guys but it has been for a good reason… As of Thursday August 6th at 11:50pm, my wife gave birth to our first child, Vida Maria Russell-Cruz. Vida is Spanish for life and how appropriate that word has been because over…

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How to close any lead you come across

Portrait of modern couple listening to manager explanation of mortgage conditions

For the vast majority of brokers, the main source of lead generation we have comes from referrals. Whether they be a referral from an existing client or from an existing professional relationship like an accountant, financial planner, real estate agent or solicitor. This way of doing business presents a few challenges… On the one hand,…

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