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According to award-winning broker mentor and trainer Jason Back, this environment demands a strategic shift.
“It’s a really challenging market,” he said on the latest episode of Business Accelerator.
“I’m excited and also probably a bit nervous for the broker market because it is really complex time of the year.”
While previous years have been far more predictable, the variables of the present market are enhancing the complexity for brokers.
So, how can brokers position themselves to not just navigate this season, but truly capitalise on it? Drawing from Back’s expert insights, here are 10 hacks to fast-track broker business this spring:
1. Fast pre-approvals
Implement systems to ensure quick pre-approvals, as delays can mean missed opportunities for buyers. Leveraging tech can help make this a reality. Having document collection and submission processes down to a fine art can ensure deals are done in a timely manner.
2. Become an expert educator
In a complex market, clients are hungry for guidance. A broker’s value extends far beyond securing a loan. Step into the role of an educator, especially for first-time buyers navigating a “maze” of grants and incentives.
3. Lock in valuations early
Pre-empt potential shortfalls by ordering property valuations early, as they can take time, especially for luxury or tenanted properties.
4. Understand lender options
Know lender policies and service level agreements (SLAs) intimately to choose the right lender for speed and efficiency.
5. Build agent relationships
Position yourself as a broker who can get deals done fast to help real estate agents with their key metrics (revenue, days on market, and listings).
6. Create finance-ready checklists
Develop easy-to-use checklists for different client scenarios (e.g. first home buyers, downsizers, or SMSF) to ensure they are prepared.
7. Keep clients “auction ready”
Ensure pre-approvals don’t expire and clients understand their limits to avoid bidding over their approved amount.
8. Stay close post-approval
Maintain contact with clients after giving them pre-approval to prevent them from going elsewhere, including checking in after property viewings.
9. Spring-themed marketing and branding
Be the go-to broker for spring by updating social media content, tiles, and commentary to be niche-specific and seasonally relevant.
10. Stress-test clients
Keep clients grounded by stress-testing their finances to ensure they don’t get emotionally carried away and look at properties outside their budget.
Back commented: “You don’t have to do them all. Pick two or three. Learn, test, fail, move on, but take action. This is the difference between focusing on activities and outcomes. What’s the outcome you want this season for your business?”
In a dynamic spring market characterised by high demand and fierce competition, preparation is the broker’s greatest asset.
By adopting a strategy centred on speed, education, and deep client relationships, brokers can transcend their traditional role as simply a loan facilitator.
Those who empower their clients with knowledge, leverage their lender relationships for efficiency, and position themselves as the central, trusted adviser will not only navigate the spring selling season successfully, but will also build a foundation of client loyalty that endures long after the season ends.
