Three award-winning brokerages on the biggest change they've made in the last 12 months
Three award-winning brokerages on the biggest change they've made in the last 12 months
Alan Hemmings
General manager Oxygen
Home Loans
It’s about incentivising brokers. We have various commission splits depending on where the customer comes from, but if the broker hits a certain level we’ll pay them a bit more; if their book size gets to a certain point we’ll pay them a bit more.
We’ve introduced – and this sounds really simple – a top broker lunch every quarter. We take the top three brokers, based on volume, to a nice restaurant here in Sydney with the senior management of McGrath, so they get access to the head of franchise, the chief operating officer, the head of people. We’re now at the point where the brokers are ringing me at the end of each quarter going ‘Who won, who won?’, and it’s driving them to write more business.
It sounds simple. Most brokers who are on commission only are competitive by nature; you’re out there writing that business because you want the income to come in. So if you get that within your team, it’ll drive the whole team.
Jeremy Fisher
Director
1st Street Home Loans
I think like everyone we’re constantly changing and learning and making mistakes. Our processes, to some extent to a consumer, will seem like they’re down pat, but in the office we’re working on new initiatives, changes to processes, changing ways to do things.
I think obviously, with new people joining the office as well, that brings additional discussion, but I think for our office it’s continually learning, managing systems and CRMs, and changes. It’s constant changing, and I think we adapt well, our office, to these changes, and it’s ongoing.
Katrina Rowlands
Principal
Mortgage Success
Next year marks 20 years for me in mortgage broking. That’s a long time to think you’ve got it right. I love the fact I have new fresh staff with fresh attitudes that recently joined me, so I’ve started going right through the basic procedures.
With my newest staff member, who’s only been there for four weeks, I’ve asked her that every time she’s taught a process, to record the process in her own words. We do have a process and procedure manual – our scheduled way of doing things – and I’ve found it really interesting, even though that manual is reviewed every couple of years, to see the differences already and to hear it from a fresh point of view … I’m noticing some really silly inefficiencies and ways we can do it better.
The new staff members feel like they have an incredible value proposition; it’s opened the floor for people, both old and new, to talk really openly and freely and add benefit.
Alan Hemmings
General manager Oxygen
Home Loans
It’s about incentivising brokers. We have various commission splits depending on where the customer comes from, but if the broker hits a certain level we’ll pay them a bit more; if their book size gets to a certain point we’ll pay them a bit more.
We’ve introduced – and this sounds really simple – a top broker lunch every quarter. We take the top three brokers, based on volume, to a nice restaurant here in Sydney with the senior management of McGrath, so they get access to the head of franchise, the chief operating officer, the head of people. We’re now at the point where the brokers are ringing me at the end of each quarter going ‘Who won, who won?’, and it’s driving them to write more business.
It sounds simple. Most brokers who are on commission only are competitive by nature; you’re out there writing that business because you want the income to come in. So if you get that within your team, it’ll drive the whole team.
Jeremy Fisher
Director
1st Street Home Loans
I think like everyone we’re constantly changing and learning and making mistakes. Our processes, to some extent to a consumer, will seem like they’re down pat, but in the office we’re working on new initiatives, changes to processes, changing ways to do things.
I think obviously, with new people joining the office as well, that brings additional discussion, but I think for our office it’s continually learning, managing systems and CRMs, and changes. It’s constant changing, and I think we adapt well, our office, to these changes, and it’s ongoing.
Katrina Rowlands
Principal
Mortgage Success
Next year marks 20 years for me in mortgage broking. That’s a long time to think you’ve got it right. I love the fact I have new fresh staff with fresh attitudes that recently joined me, so I’ve started going right through the basic procedures.
With my newest staff member, who’s only been there for four weeks, I’ve asked her that every time she’s taught a process, to record the process in her own words. We do have a process and procedure manual – our scheduled way of doing things – and I’ve found it really interesting, even though that manual is reviewed every couple of years, to see the differences already and to hear it from a fresh point of view … I’m noticing some really silly inefficiencies and ways we can do it better.
The new staff members feel like they have an incredible value proposition; it’s opened the floor for people, both old and new, to talk really openly and freely and add benefit.
