Help Needed – Starting Out in the Finance Game!!

First you need to specialize – as it is hard to be everything to all customers.
Are you going to be lending to new home owners, bad debt clients, business owners, property investors or self employed people.
Once you decide you then have to target that segment.
You need to create a profile document.
This tells your prospective affiliate what lending services you are providing to any of their clients they refer to you and also your background and what lenders you are .

I would suggest contacting accountants and financial planners asking them for an appointment to discuss how you can help their business clients with finance.
If you get some of their precious time you need to have a mindset of asking them about their business and the types of clients they have. Don't be too eager to talk about your business or service unless they ask you a question about it. What you are trying to do is find a possible need in their business that you can help their clients with and vice versa you may be able to refer clients to them if they have a need for their business service.
Also you need to advertise.
How
Talk to as many friends as you can about what you are doing with your role so that when one of their friends they know needs finance they will remember what you do and refer their friend to you.

Matt

Unless the Bank are paying the cost of advertising i think you would be keeping this to a minimum otherwise you are eating into your salary.

One of the biggest issues is that you are only as good as the products your employer has to offer and then as good as your Credit Team. I know many Mobile lenders who found they could do nothing because their Credit team was taking 20 days plus to process a loan and they were almost afraid of generating new business.

I think you need to forge a relationship with a couple of industry professionals and specialise in a particular area.

Heres an idea I have used a lot in the past. As a lender for another bank I have always specialised in the investment area. Simply because the loans are better and the investors are usually a better quality of customers, more qualified to know exactly what they want.

If you approach real estate agents do it on the basis that you only want to talk to the one that is the best in the office. Do not deal with all agents in the one office, “only the best”. They are easy enough to get to as they usually have the most listings in the paper or the trophy’s on the wall to prove it. The reason I only ever deal with the best is simply because they are highly motivated and want to succeed. You have to demonstrate how you can help them succeed.. In other words you need to sell them on your “UNIQUE SELLING PROPOSITION”. Why should they deal with you over who they are dealing with now.

Sure,

The answer is simple really.
First I do NOT pay real estate agents to acquire leads from them under any circumstances.

The whole premise of my business is based on the fact that I am there to help them build their business. Its a win win situation when you put it to them like that. I will help increase their business by introducing pre-approved buyers to them. I can’t promise them a lot of buyers each month but everyone helps them as much as it helps me.

Second I would in your case offer to sit on open for inspections with him /her to help out with enquiries about finance at the open for inspection. This is usually very successful, however I don’t have time for this anymore.

Third, offering outstanding service or quick approval times is a must, but you have to be able to perform. Outline to them how fast you can get approval by comparison to a broker for example. But you have to be able to do what you say you can. I can turn a loan around in 24 hours at max for a pre approval. If you can do the same then you can explain to him that it will help him to get his commission faster.

By the way, if you do this you can ask him for a referral to a solicitor that they deal with even before you start getting leads from him /her and start warming up the solicitor to. Its all about networking. And the first and foremost thing that I have found with this type of networking is, that is easier to get in the door of a solicitors office or an accountant or a real estate office if you have a warm referral. If you ask the question of the real estate person, “So you must have some good solicitors that you deal with that you could help me recommend to my borrower’s, who could you recommend I talk to. So the real estate guy or girl says John Smith from Bowdens lawyers is excellent. You ask, do you think you could give me his details or better yet, as you have an existing relationship with him could you give him a call for me NOW (while you are in his office) and introduce me to him so I can go and see him.

When you get in front of the solicitor ask him what other real estate people he does business with and soon you have an army of contacts that will start referring business to you.

Hope this helps.