Learn the secrets many top brokers don’t want you to know on boosting brokerage income.

• February 10, 2022

• 5 min read

Every year we celebrate the industry’s elite finance brokers at the coveted industry awards. It’s an opportunity to celebrate with your peers, friends, and colleagues. For some, it’s a rare moment to let your hair down, relax and just switch off from the daily grind. The thornmoney team take great interest in the asset finance category winners.

But more than this, it’s an opportunity to hear from & learn from the industry’s top achievers. Rather than wait for the next event, we’re going to let the cat out of the bag and share with you what we’ve learnt from partnering with top brokers across Australia. Hence, you can be one of the next industry superstars. Just remember to mention thornmoney as your secret weapon!

Top 6 secrets to maximising your brokerage income from every client

1. Solidify your goals

Write them down and commit to them regularly. Set clear goals and targets which are realistic, achievable, and make you stretch! There are lots of resources available on how to set solid goals. ZERO award winners get there without setting robust goals and a solid plan.

TIP: ALL elite brokers have a coach or consultant. Do you have yours?

2. Ask more questions

Top brokers fully understand their clients’ goals and plans. They have a skill of peeling back the layers of the onion to learn the full story. In other words, you can only know their complete story, and thus provide assurance of solutions, by asking as many questions as you need to ask. Examples are clarification-based questions which clarify their answers and take the conversation one layer deeper e.g. ‘What specifically would you like to improve financially?’

A well-executed, comprehensive plan or road map produced for your client will help you to completely win their trust. Additionally, it will also clearly identify exactly how and where you can help them with their financial plans.

3. Collect more documents

Leading brokers know more about their clients. They intimately understand their asset position, know their cashflow position, and uncover any hidden assets such as unpaid invoices, equipment and of course property security. This will also make it easier to package and settle their finance quicker. Asset finance or invoice financing opportunities can win you the client off the bat. Ultimately, this will generate more business revenue.

4. Provide a full financial solution

Elite brokers excel at positioning and aligning their solutions to meet the clients’ objectives and solve their problems – they position themselves as the ultimate expert and provide multiple solutions within their plan. For instance, mortgage + commercial property refinance (lower repayment / lower rate) + vehicle and equipment finance package + cashflow facility + insurances + card facilities. Certainly, every product solves a problem and with top brokers, this occurs for between 80 – 100% of their clients.

5. Reduce your claw-backs

Maximising your income per client is helping your client the most you possibly can. Basically, it protects your income, strengthens your client relationship & positions you as the ultimate professional. It stops your clients from wanting to leave. Moreover, it also ensures you can spend quality time with each client. It’s not just about how many clients you settle – it’s about how many $$$ you keep. The thornmoney solutions do not come with any claw-backs.

6. Partnering with a leading lender like thornmoney

This will raise your professional profile as well as protect and elevate your business profitability. Our state-of-the-art technology portal is quick, easy, and pain-free. Accordingly, you will earn good income, fast, and with no clawbacks. By settling your clients first loan(s) fast, you have paved the way for a long-lasting relationship and the instant opportunity to provide all their finance needs.

we’re here to assist you!

Our BDMs are available to guide you through client scenarios and educate you on the latest cashflow solutions to meet your clients’ needs. For nearly 80 years of lending to customers and businesses, we recognise what it takes to present comprehensive business loan solutions as a broker. In addition, we also comprehend the importance as a broker to fully understand the products so you can confidently present them to your clients.

how can we help?

Thornmoney is going forward with a modern, tech-enabled business model to better serve our partners and facilitate your brokerage revenue with:

1. Flexible products asset finance and invoice finance solutions that fit your client’s demands

2. A simplified and digital process that significantly reduces application time.

3. A convenient broker portal that is designed to make your life easier. You can get a fast quote with tailored rates for assets under $150,000; be able to track applications from from proposal to settle and more.

Disclaimer: This information is for general information purposes only. Therefore, the information contained herein does not constitute financial or professional advice or a recommendation. Ultimately, it has not been prepared with reference to your financial circumstances or business and should not be relied on as such. You should seek your own independent financial, legal and taxation advice as to whether or not this information is appropriate for you.