Marketing and Branding Techniques for New Brokers

Hello to all the Mortgage Brokers, small business owners and other sales professionals on this forum.

I have recently been offered a position as a broker with Aussie in Hobart, Tasmania. I am new to the industry and wanted to get some tips.

Under the Aussie structure, I will setup myself as a business (company, sole trader etc.) and then get paid by Aussie through the commissions I make. So essentially I am running my own business under the Aussie Brand. So initially I will have to employ a marketing and networking strategy in order to get my name and brand into the market and start building a client base (business).

As a new broker I was wanting to get some advice and tips from other individuals on this forum as to what has worked for them and what hasn't and anything that they think would be worth trying. E.g Direct mail, facebook and other social platforms, going to fairs/market's and setting up a stand, cold calling etc.

This is a big step and career change for me and being a property investor myself, it is something I really want to work, so I would really appreciate any advice and tips shared.

Thanks

John Ferguson

 

Hi John,
Aussie will have a lot of marketing strategies. Id do exactly what they suggested. Id also join any business networking groups you can, and meet up with estate agents, builders, financial planners, conveyancers and try to build referral partnerships. Knock on doors, its all about letting who you know, know what you know, and how you can help them get more sales.

There are also some good strategies around getting referrals from existing clients, asking for referrals as you process someones loan. Some brokers have also had success with rewarding such word of mouth referrals. Movie tickets, vouchers etc. Local sponsorship of sporting teams, schools etc along with rewards for referrals can also help.

Aussie can be a a great way to start. they have some good training for new brokers. Many leave aussie after a year or two, as the comm split is pretty poor for an experienced broker, and they have hefty handcuffs for brokers leaving.

 

Consider running some investor meet ups like all the other states. I don't think there's been anything regular in Hobart, but I know there are forum members in Hobart.

The key is sticking at it, you need to be marketing for the long term. Very few brokers get instant results, but often the results start to come 6 to 12 months after they start putting it out there. The rewards are long term, but it can be very tough in the short term.

 

Thanks for that. Yes I was think an investor group of some sought. The only investor group that I know off is positive property and they sell off the plan properties. So will definitely investigate it further.

And yes from what I've heard from others is just sticking at it and getting through the initial 12 months

 

@John Ferguson I was suggesting setting up a meet up through this forum. Start a thread, "Who's interested in meeting in Hobart?". Ask people to nominate their ideal evening, then set a date, book a restaurant and create a new thread titled, "Hobart March meetup" with the details.

Enjoy a meal and some property related conversation. It probably won't generate immediate business, but sooner or later it will probably generate some business and you'll meet some good people in the meantime.

 

Thanks for advice. Appreciate it

 

Hi John,

Good luck! Exciting times for you. I've been involved in small business before, not brokerage/franchise model but the same techniques I think hold true.

What's helped me before are these books:

1 page marketing plan
Traction by gabriel weinberg

Not sure if you've had experience in marketing before but these have helped me understand different marketing channels and a framework to apply to it.

 

Great! Thanks for that. I will definitely check those books out as I have limited marketing experience. But I listen to podcasts and am always eager to learn.

Thanks again

 

For me, it's all about the networking. Do you have a network already, or one you could expand on? I've been a part of an investor groups for a few years and once I returned to broking last year, a number of people from that group have become clients.

I have a Facebook page that is "liked" mainly by my Facebook friends. It hasn't directly generated any leads for me but I think people are showing interest in my posts.

Apart from a $50 "donation" to the school p&f to put my business on the school website I didn't do any paid advertising last year. I used that time to network and get back up to speed on policy etc. it's great to have a big number of clients very quickly but if you don't provide them with knowledgeable service you may lose them and any future referrals.

Now I'm in my second year I'm wanting to ramp up the business a little and am getting a sign on my car. It's only a few hundred dollars and should generate interest from the school mum's who get stuck behind me in the kiss n ride queue.

So rather than spend more money on advertising, be your own advertisement. Your leads may come a little more slowly but they are likely to stick. I don't think there are too many broker's on here that need to advertise anymore as their repeat and referral business is more than sufficient to keep them busy.