Don’t get elbowed out of a mortgage sale – nine networking tips for brokers – Pierson

If you’re new to networking – here are nine networking tips to avoid being elbowed out of a mortgage sale.

1. Keep close to your builders

Have regular conversations with your builders to keep them updated on developments in the mortgage market. But don’t just fire off a list of changes – explain what this means for their business. Just because a product doesn’t apply to new build, it doesn’t mean there’s no benefit to them – it can still create a chain.

2. Help sales advisers sell you

Equip the site sales teams with some nifty phrases to sell the value of your services. Rather than saying, “as part of our process, you must speak to our mortgage broker”, which sounds like a box-ticking exercise, they can say “it’s great you’ve done your research – our specialist new-build broker can review what you’ve been offered to make sure if you have the best deal,” or “such a serious financial decision deserves a second opinion – our new-build specialists are happy to do that for free.”

3. Nurture relationships

We see a spike in enquiries when we’ve been out to see site sales staff, so get those feet out from under your desk and make the effort to visit your builders in person at their least busy time of the day so you have their full attention.

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4. Don’t be a nuisance

Tip numbers three and four go hand in hand. If you’re not going into their offices to add value, then don’t go, because you’re likely to be more of a hindrance than a help.

Be clear in your mind why you’re going and what you want to achieve and don’t waste people’s time. If it’s to discuss some cases, go armed with solutions rather than presenting problems.

5. Network smart, not harder

Most developers invite their sales staff from across their sites to a monthly or quarterly team meeting. Get yourself on the invite list so you can speak to an entire region of sales advisers in one go about what’s changing in the market and how it impacts them.

6. Give up the odd weekend

Show homes are busiest at the weekends, so sacrifice your Saturdays to get over to sites to support the staff. Bring the energy, bring the coffees and bring a problem-solving attitude. Don’t bring a hangover (revert to tip four).

7. Target all levels

Develop relationships with senior leaders as well as the site staff. Target regional directors and area managers, who are usually the ones monitoring and measuring results, and most have targets for how many cases are referred to their broker partners.

Find out when they’re due to visit the site and, armed with relevant information, show up ready to make your introduction.

8. Show your appreciation

Small gestures make lasting impressions, in my view. If they’ve passed you leads, don’t just email a quick ‘thanks’ – pop over with a box of chocolates. That’s the way to my heart anyway!

9. Manage your time

As you become a skilled networker, the leads will flow, which inevitably means less time for networking. Once you’ve mastered tips one and two, you can nurture these relationships with a combination of calls, emails and in-person visits. But remember, out of sight, out of mind, so don’t stay away too long.