Servicing your client
Now that the industry has matured, the need for broker businesses to add more value to their customers is required.
Customers have a journey from buying their first home to upgrading, investing and retiring. Adding value will mean you stand out from the crowd and have a far better chance of being a part of that journey.
Being a part of the journey will lead to your network expanding from the base you have now.
There are a few simple things you can do to add value to a client and ensure longevity in your relationship with them:
By supplying your customer with a valuation report on purchase and annually thereafter, it helps to provide guidance of what is a reasonable price to pay for the property.
Regular updates show the growth in the property and allows the client to understand if any opportunities can come from this, eg. savings from a lower LVR on their interest rate on the mortgage.
Annual reviews by direct calling
One in ten of these calls generally lead to new business. You will most likely save them money through a re-price or refinance, strengthening the allegiance with you and your business.
Showing them how to pay off their home faster
Showing your client the benefit of a basic budget and placing the money left over from their mortgage can save your client tens, if not, hundreds of thousands of dollars.
Purchasing a positively geared property and paying the extra money off their mortgage can super charge that process in this low interest rate environment, as well as setting them up for the future.
Property investment cash flow analysis
Make sure your clients know from a cash flow perspective what they are getting into. Most won’t and don’t understand the difference between two purchases on the monthly cash flow. By providing them with a data analysis, you are helping them model their investment portfolio for retirement and in turn building your allegiance once again with your client.
All these services have a significant benefit to your customer, generate loyalty and grow your business.