Brokers share tips about growing business

Brokers share tips about growing business

Brokers share tips about growing business Becoming a successful mortgage broker involves more than merely facilitating deals—sound business acumen is paramount, too.

Ameera Ameerullah, CEO of Canada Mortgage and Financial Group, says that face-to-face meetings with clients is still the most effective to market oneself. Rather than remaining glued to the computer screen and solely relying on email blasts, meeting clients new and old is a recipe for success.

Another way of accessing a deeper pool of potential clients is by connecting with builders.

“Put incentive on what you can offer them, so that they reciprocate the business and they make you an exclusive broker to do the mortgages,” she said. “Typically, builders always have a mobile specialist on site.”

She added that B-20 is an opportunity for brokers because deals are being rejected at higher rates than ever before and they can find the right lenders.

Ameerullah advises calling clients back quickly, too. “When it comes to communication, it comes down to trust,” she said. “The way you get more business is if someone is sending you a deal, you should be honest with them and tell them if this deal is a go or not, or where it will fit right away, rather than prolonging it and trying to find a fit. Be honest up front and it will help you get more business.”

Connecting with financial advisors, who have portfolios of investors, and advertising on good platforms are also ways augment business. Ameerullah also advised volunteering and attending social networking events—andeven making YouTube videos.

“Sponsor a sports game for kids, like hockey,” she said, “because a lot of parents go there. It’s another way to get your name out. And don’t forget about social media—there are about 22 social media sites that are free.”

Also important, advises Ameerullah, is collaborating with other mortgage brokers. Canada Mortgage and Financial Group co-brokers a lot of deals and shares the commissions.

Good relationships with banks can also yield more business.

“Build relationships with accountants, even with banks,” said Ameerullah. “If they have a deal they cannot place, we ask them to send it our way.”

Chantel Chapman, a financial fitness coach and broker of record at MogoMortgage, believes an educated broker looks the expert in front of clients, thus exposing themselves to a wider audience.

“It’s really important when you’re positioning yourself this way not to just do it online,” she said. “To be successful in any campaign like this, you have to be online and offline; being offline can help build an online community, and online can help feed your offline community. When I throw an event, I’m meeting a bunch of new people who are friends of my followers, and then I’m making new connections offline. Those people start becoming involved in my online community and it keeps growing and growing, so it’s important to have online and offline presences.”


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