What makes a good mortgage broker?

"People buy people"

What makes a good mortgage broker?

Learning from the experience of others in the same role as you is one of the best ways to improve, and this holds true for those in the broking business.

So, what makes a good broker and how can you develop trust and transparency with clients? Mortgage Introducer reached out to an adviser to find out.

How to be a good broker?

Ellis Shepherd (pictured), business owner at All About Mortgages, does not believe in traditional sales techniques, such as solely singling out the benefits of your operation in an attempt to attract business.

“I believe clients can spot these techniques a mile off and it is not a positive way to begin a relationship; instead, being personable and simply getting to know your client and their needs is the best ‘sales technique’ a broker can employ,” he said.

Shepherd added that ‘people buy people’, which he believes holds particular relevance in the intricate world of the mortgage industry.

Trust and relationships, Shepherd has come to realise, are the linchpin of success. Conventional sales techniques, he added, with their detectability and perceived obsolescence, have never resonated with him.

“Instead, I have embraced a more personable approach, investing time to truly understand my clients; actively listening and unearthing those subtle soft facts about clients have become indispensable components of my strategy,” he said.

The art of summarising this gathered information, demonstrating attentive recall, and providing advice tailored to their unique circumstances, he said, has proven to build significant trust and transparency.

How to build trust and transparency?

For Shepherd, the more personal style of mortgage advising should be an inherent aspect of the a broker’s toolkit.

“The impact of Consumer Duty, in my view, has been positive, rendering some traditional sales styles redundant and nudging the industry toward a more client-centric approach,” he said.

To those just embarking on their journey in this field, Shepherd recommends a diverse exploration of sales training methods.

“It is crucial to find a style that resonates personally; in my case, a laid-back approach with clients, driven by genuine passion and enthusiasm rather than applying undue pressure, has proven effective,” Shepherd said.

The concept of going the extra mile, he added, holds particular importance, as clients consistently appreciate continued assistance even after a case progresses to the offer stage.

Contrary to the misconception that a broker’s job concludes once a case secures an offer, Shepherd said he challenges himself to consider how he can extend support beyond this point.

“Proactively chasing solicitors to expedite processes and actively seeking ways to enhance trust and relationships are ongoing efforts that contribute significantly to long-term success,” Shepherd said.

In essence, Shepherd said his approach to sales in the mortgage industry revolves around building authentic connections and understanding clients on a personal level.

“It is about maintaining a steadfast commitment to their needs; trust, transparency, and genuine relationships form the bedrock of what I consider effective sales,” he said.

As such, Shepherd believes this renders traditional techniques seemingly obsolete, in favour of a more client-focused approach.

“As I reflect on my journey and articulate these insights, I find that the essence of successful sales, at least in my perspective, lies not in a rigid set of techniques but in the ability to connect authentically, listen actively, and continue supporting clients beyond the initial transaction,” Shepherd said.

He added that it is a philosophy that extends beyond mere salesmanship, emphasising the enduring value of relationships in the dynamic landscape of the mortgage industry.

What do you believe makes a good broker? Let us know in the comment section below.