VARIETY STORE BROKER: The Cheapness In One-Stop-Shop. Everything Good, But Nothing Special.

12/22/24 • 17 min

Most brokers are what I call “variety store brokers”.
A bit like a $2 shop or department store.
You can walk inside and get pretty much anything.
Everything is ok, but nothing is special.
Access to resi, commercial, asset finance, SMSF, insurance and more.
Helping first home buyers, investors, PAYG, self-employed, and more.
Now to most brokers this sounds great, to be able to help everyone.
But there’s a problem (actually multiple problems and challenges with this).
In this episode of Mortgage Broker Acceleration, I outline these problems, how they affect every area of a mortgage business, and what brokers should do instead.
For those who are more advanced and/or want to become the one-stop-shop and do it properly, I share the 4 main points you need to be successful.

Want to accelerate faster?

Visit Broker Ideas Group to access special resources and events designed exclusively for mortgage brokers.
Go straight to the source and Let’s Talk about working together to grow your mortgage business easier and faster.

Want to accelerate faster?

Visit Broker Ideas Group to access special resources and events designed exclusively for mortgage brokers.
Go straight to the source and Let’s Talk about working together to grow your mortgage business easier and faster.

Previous Episode

PARTNER CHEAT CODE: Coffees Are A Waste Of Time. Do This Instead. It's NOT You, But It Is 100% What You DO.

If you don’t have 3-4 key referral partners each sending you at least one qualified referral every week, that results in at least $5m per month in settled loans... then you are doing referral partners wrong.
I’ve been helping brokers for over 16 years, and it’s a fact that most brokers don’t have true key referral partners... they just have a bunch of people in their network who they know.
Who they catch up with, go for coffee and lunch, and spend time in meetings with good intentions and promises... but no real action.
That real estate agent, accountant or financial planner who says they’d love to work together and send referrals... but hasn’t... and probably never will.
The bad news is that it’s not their fault... it’s yours.
You failed to win them over properly and drive the relationship forward.
The good news is you can fix it with existing partners, get them referring, or you can start fresh from scratch if your current referral partners don’t make the grade (they are not all created equal and you can 100% fire them).
In this episode of Mortgage Broker Acceleration, I tell you exactly what’s going on with your referral partners, why it’s happening, and how to think about fixing it. Instead of wasting time on coffee meetings, I’ll give you the 6 things you should do instead to build serious referral partnerships.
Want to accelerate faster?

Visit Broker Ideas Group to access special resources and events designed exclusively for mortgage brokers.
Go straight to the source and Let’s Talk about working together to grow your mortgage business easier and faster.

Next Episode

VISIBILITY WINS: Stop Hiding Behind The Laptop. Master Old-School First, Then Online. Consistency Is King.

Visibility is the name of the game.
Getting out there, talking to people, networking, being strategically active across offline and online... selling yourself and your business.
Consistently.
That’s the #1 game you need to play.
Mortgage broking is the task you do once you sell yourself and win the client.
Therefore mortgage broking... is the #2 game.
Yet, most mortgage brokers spend 80-90% of their time doing mortgage broking, and only 10-20% of the time getting out there.
In this episode of Mortgage Broker Acceleration, I expose why many brokers are hiding behind the laptop (instead of getting out there) and the psychology of why visibility wins over experience or expertise. I share why digital is actually much harder than old-school, and the overreliance on technology, automations and software is damaging your lead flow and client experience.

Want to accelerate faster?

Visit Broker Ideas Group to access special resources and events designed exclusively for mortgage brokers.
Go straight to the source and Let’s Talk about working together to grow your mortgage business easier and faster.