Loan Market Manningham | Top 10 Franchise Brokerages 2014

The second of two Loan Market operations in this year’s Top 10, Loan Market Manningham has achieved a lot for a team of two. Daniel Esposito explains their business plans

What is the secret to a successful brokerage?

You’ve got to get the job done and communicate with your clients and referrers at all times. Keeping everybody in the loop is important. If we get a lead from a referrer, we call the client straight away, not in two or three hours but straight away. When we’re doing finance for clients, we inform them at every point along the way. I also try to be honest initially if the deal can’t be done. If we know the bank’s not going to do the deal, we tell them.

Have you noticed any trends among your clients this year?

It’s pretty steady this year – a mix of investors and upgraders, and people reviewing their rates or consolidating. If they’ve been with their lender for three or four years, I’m finding they are re-evaluating their rates.

How do you generate leads and referrals?

I find the work speaks for itself, but having said that, we also try to get new referrers. I explain to them what we’ve achieved over the years and how we operate to make them comfortable. But in the end it comes down to personality and relationships. If you do a good job with a client or referrer, the leads will come to you. People will want to refer and deal with you. One client two weeks ago has referred me to four different people already. I’m a diamond broker with all the majors, so I can get an approval done in 24 hours, whereas a lot of other brokers might take up to a week.

What’s the most important thing a broker can do to grow their business?

Never take no as an answer, but don’t be too pushy – it’s about getting the balance right to build the relationship. It’s all about relationship. If they don’t like you it doesn’t matter what knowledge you’ve got.

What goals have you set yourself for the year ahead?

Just to continue to do what I do and achieve the targets I’ve set for myself to get a ticket to the Loan Market international conference in Las Vegas this year.

How do you achieve work-life balance?

That’s hard in this business. You know what, as long as you’ve got a supportive other half you can do whatever you like. You can’t say you’re not going to see a client because you have to check with your wife. If you’ve got a deal happening, you’ve got to get it done. It’s difficult to balance in this industry but you can always work around clients.