The initiative will help self-employed and employed brokers adapt
National broker firm Just Mortgages has announced the launch of a new business development initiative for its employed and self-employed brokers.
John Philips (pictured), head of mortgages at Just Mortgages, said the free business development package will help self-employed and employed brokers look at the changing business landscape, and offer practical solutions that can be implemented to mitigate the negative effects.
“Sadly, mortgage brokers need to accept the strong likelihood that their business volumes will be reduced next year with completions taking longer, rising rates and lenders clamping down on affordability,” Philips said. “This will effectively mean a salary cut for a vast number of brokers and we want to provide the tools for them to get out ahead of this situation and have plans in place to boost their earnings.”
The delivery of the business development support will take the form of a free ‘Zoom’ or ‘Teams’ review where a brokers’ business will be analysed and evaluated so suggestions can be made about potential new product areas.
Read more: The importance of educating brokers on the specialist market.
Brokers will also be shown strategies to look for additional income opportunities from existing customers through the effective use of CRM systems and targeting product gaps that can be filled, such as missing protection policies. They will also be able to access a range of marketing material and collateral designed to help them target dedicated product areas and attract new business enquiries.
“We can all be guilty of working flat out and getting caught up in the ‘day to day’ and missing the opportunity to plan ahead,” Philips said. “By offering this initiative to brokers, we want to ensure that they put aside some time for this essential forward planning with as much or as little support as they need.”
Philips added that with a vibrant mortgage market over recent years, there has been little need for residential brokers to expand their business into other product areas. However, he pointed out that opportunities exist in areas such as commercial and secured loans.
“Brokers are wonderful at adapting to change, and we want to provide support and a framework for them to thrive whatever the lending landscape is next year,” he said.
