Magic moments: The little things that reel in referrals

Magic moments: The little things that reel in referrals

Magic moments: The little things that reel in referrals It’s the little things that separate top brokers from the rest, says the National Finance Institute’s Peter Heinrich, and going the extra mile doesn’t have to cost you a cent.

In Heinrich's recently book, The Mortgage Marketing Handbook, Heinrich tells of a technique to get you noticed in all the right ways by your clients, something he calls ‘Magic Moments’.

“Magic moments are small reactions or activities in a mortgage broking transaction that make it a memorable experience for your clients,” explains Heinrich.

“This idea has not been implemented to any great extent in the mortgage broking or banking industries in Australia, which creates a tremendous opportunity for the astute mortgage broker to get in before everybody else starts doing it.”

Magic moments can be little gifts or strategic communications worked into key moments of the loan process, says Heinrich, from bringing a packet of biscuits to a client’s home on first interview, or sending a bunch of flower’s to their work after settlement.

“That’s what the really good brokers do. Others just roll along like everybody else does, but the top 5 per cent, the reason they’re the top 5 per cent is because they do all those little tiny things. It’s no one thing that makes a broker better than another; it’s a whole heap of little things.”

One that works particularly well, he says, is phoning the client five or six weeks after settlement, to ask them how they’re settling into their new home.


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  • Ron Butler 2014-08-28 2:47:14 PM
    There are some pleasant ideas here like the flower delivery and calling the client 6 weeks after they move in but I do have to wonder if the Australian Mortgage Brokerage industry is operating in the bronze age.

    In North America the trend is towards web based financial transactions that deliver lower rates and fees which can only be achieved through higher levels of efficiency. I don't think driving to every client's house to sign them up is the future of North American mortgage distribution.
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  • Jake Abramowicz 2014-08-28 5:39:39 PM
    No, of course you don't, because your business heavily relies on volume and buy-downs. Minimal commission, max volume, huge advertising budget, low salaried-non-commission staff. But not everyone wants to operate that way and actually meeting your clients face-to-face to establish a relationship can and does work. Not every single client, mind you, but many. Not to mention, at least I know (or can reasonably prove) I did what I had to do to prevent fraud and I KNOW MY CLIENT vs just chatting with them over email and getting everything via fax.

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  • Ron Butler 2014-08-28 6:01:08 PM
    @ Jake, I will put our delinquency rates up against any other broker with all my lenders. We have high level anti-fraud systems, the thing about salaried employees is that if the job calls for Google checking of every single name and every single employer they HAVE to do it, it's not voluntary. Purviews reports on all properties and full Registry searches if there is the slightest question, we spend money on anti-fraud not just lip service. Sorry Jake, but you have trotted out the FRAUD !!!! tactic for well over a year,we have more lenders than we ever had and they all clamour for more volume from us so maybe it's time to drop the "know your client" rant.
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