No we are not crazy! Turning away leads can really double (or more) your mortgage business. This sounds counterintuitive to what brokers think, because the standard strategy is to cast the net far and wide and get as many clients as possible. However, this results in a lot of mortgage brokers not having enough time in the day and becoming inefficient.
In this episode of Mortgage Broker Acceleration, James Veigli and Ash Playsted talk about a controversial approach to growing your business. They reveal the benefits of choosing a niche market. They share how this can help mortgage businesses attract better customers and more referrals.
Are you ready to turn away leads and grow your business? Let James and Ash inspire you with this episode.
The Key Questions
If someone rings up tomorrow with a million-dollar home loan or a massive commercial transaction or a car loan, why should I turn that away? (5:13)
Why would you chase a commercial deal when it doesn't feed into your objectives? (9:25)
Why do you think a lot of mortgage brokers don't seem to get this? (10:18)
Why not have relationships with other specialists that you can send these non-core clients? (12:54)
What You’ll Learn
If you turn away leads, you will double your business. (0:52)
If you help with everything, you become an expert of nothing. (3:12)
Diversify, but only at the right time. Never as a way to make more money to fill the gaps that you should be making from home loans. (18:42)
If you are trying to go after everybody, you get nobody. (21:46)