In our new happiest client short story series, Mortgage Choice's Deslie Taylor explains less is not more when it comes to educating your clients towards their home-ownership dream.
Mortgage Choice Ormeau owner manager Deslie Taylor's story of her client morphing from tentative FHB to confident home owner shows how brokers can open a client's eyes to opportunities right within their reach.
First meeting
Taylor first met her client (we’ll call him Tim) when he was a first home buyer wondering how he could secure his first home. “He had no idea of the process and whether he was better off buying a property that was brand new or established,” says Taylor. Tim knew he had some incentives available to him in buying his first home but didn’t know the details or how to get them. “Although Tim had ample savings for a deposit, no consumer liabilities and very secure employment, he truly believed he was years away from getting his first home.” In just two meetings, she educated Tim on his purchasing options and the benefits and costs of buying a new property over an existing house. "We also worked out a budget that ensured his repayments would be manageable and his current lifestyle maintained."
Above and beyond
"Tim’s home ownership story is a journey of a young man walking into my office with limited knowledge and unsure of his decisions/options, to a young man who was able to use his new found understanding and education regarding the process to make decisions on his future and home ownership dreams," says Taylor, explaining why this particular client stood out in her mind over other successful loan approval occasions.
“Tim felt empowered to make informed decisions to suit his needs. He had the confidence to speak with agents, developers and builders without fear of the unknown. At no time did he feel unsure or overwhelmed in any way. Tim eventually built his first home and it was a seamless stress-free process.” She kept communication flowing with Tim for the next nine months addressing his questions and concerns he may have had.
Moral of the story
Taylor says the lesson of Tim's story is that education is the key and brokers shouldn't hesitate to educate their clients on their options based on their needs and circumstances. “I speak to many brokers who are concerned that if they offer too much information, their client will stop using their services and liaise with a lender directly. I believe it is the opposite. I feel the more education I provide my clients, the more grateful they are and as a result, we are able to build a strong working relationship. Ultimately, educated clients are loyal clients.”
In MPA’s happiest client short story series we show-case stand out ‘client success stories’ from brokers and discover what they learnt along the way. Leaving aside the details of the deal, we explore the human side of the story and how brokers really make an impact in people’s lives. If you have a client story you would like to share please email the editor.
