iscover 
That was the central theme of the latest episode of Business Accelerator, where Broker Daily director Alex Whitlock and broker coach Jason Back unpacked why brokers can no longer rely on rates, service claims, or transaction volume to win business.
With brokers guiding clients through some of the most important financial decisions of their lives, Back and Whitlock emphasised the role of brokers not just as service providers, but as long-term trusted advisers.
As Whitlock put it: “The beauty of broking is that the products are all the same. It’s the same lenders. It’s really about the trust.”
Back added: “We sell a homogeneous debt product. So if we don’t differentiate between the end product, then what makes us different is us.”
Together, the duo built out a practical playbook for how brokers can establish and then strengthen trust.
Clients decide before the first conversation
A key point for both Back and Whitlock was that a relationship of trust often begins before a client even walks through the door.
“Clients are not buying from you when they ring up and start working with you. They’ve already gone through a process,” Whitlock said.
“They’ve gone to websites, social media, they’ve talked to their accountant, they got referrals from family and friends. These conversations have been run and won.
“Are they going with you because of your service? Of course they’re not, because guess what, you haven’t given them any service yet.”
As a result, brokers need to be visible and credible both online and offline – through social media, websites, professional networks, and personal recommendations.
Whitlock added: “What you’re doing is you’re really building an ecosystem for your community, your clients, your referral partners, you’re not just involved in the transaction, but you’re a connector, an educator, a wealth creator. Your job is that trusted adviser.
“January is a really good time to sort of nail down a few of these things. Take five minutes, stand back, be a customer and look into your business to see what it looks like.”
Education is key
Also central to building trust is the broker’s increasing role as an educator.
Rather than positioning themselves purely as service providers, brokers who explain why decisions are made and how the lending landscape actually works help reduce anxiety and build confidence.
“People are coming to you not just to transact,” said Back.
“They’re coming to you because they’re invested in the education and content you create. They’re on a journey with you. They’re interested in your opinion and your experience.”
Whitlock added: “You have an opportunity to educate people around you, to provide value to people around you. And when you’re running a broking business, be it finance broking or mortgage broking, part of it is listening, but part of it is also talking as well.”
Have a plan B
While trust may begin with likeability and credibility, Back and Whitlock emphasised that it is communication that builds a relationship throughout the lending journey.
In an environment where delays, policy changes, and additional requirements are common, silence or vague reassurance can quickly undermine confidence.
Back said: “Brokers generally revert to, ‘Leave it with me, it’ll be fine’.
“That’s where customers get annoyed because things aren’t fine.”
Reflecting on his own experience during a self-managed super fund (SMSF) application, Whitlock said trust was maintained through clear expectation setting and the presence of a contingency plan.
“Throughout my SMSF application, or at least when we got to the pointy end, I started getting very fraught. My broker told me, ‘Don’t worry, I’ve got a plan B’. It’s not the first choice but it’s a backstop,” Whitlock said.
“In the end my lender came through, but my broker was incredible. I think having a plan B and being able to articulate that plan B, telling people it’s a complicated process but that you’ve got their back. That’s where trust is won.”
From liking to trusting
Back and Whitlock also discussed the journey clients and brokers take together, from an initial, surface-level interaction to a relationship grounded in deep trust.
Whitlock said: “Certainly in broking, nothing ever flows perfectly. But there’s a bond that takes you through that and that’s the skill set of the broker.
“These are really important things to remember, because promising great service at the front end isn’t going to win you the business. It’s about being able to connect and demonstrate. And there’s almost an inferred journey with that person.
“The vast bulk of people buy from people they like. It’s that simple.
“And through the liking come other things. Then comes a belief. And if I believe, then I start to trust.”
[Related: How can brokers get more out of record investor activity?]