In episode 63 of the Growth Series podcast, Iain Cunningham, Corporate Account Manager at Accord, is joined by Pete Hunt, Partner at Hawke Financial Services. In this episode, they provide insight into what the future may look like from a broker’s point of view. They cover topics such as the value of advice and bringing in new talent in the face of what the future may hold.
Starting with an introduction to Pete, in which he and Iain discuss Pete’s extensive history in the mortgage industry, they then talk specifically about Hawke Financial Services and the growth it’s experienced since its inception. Demonstrating the importance of understanding the past in order to realistically look to the future, they discuss the changes that have taken place across the industry throughout Pete’s career, and more recently as an impact of Covid-19.
Iain then asks Pete to describe what he, as an owner of a mortgage brokerage, does to promote the value of advice to existing and prospective clients. Pete points to the importance of maintaining efficiency, professionalism and accuracy to ensure clients recognise their value. The pair then discuss the importance of providing regular communication without being overwhelming.
The conversation leads onto how to handle customers who may have been led to believe some misconceptions about brokers. For example, they may have been told going directly to a lender is a cheaper option. One takeaway from this is that not all prospective clients can be won over, but providing them with the facts accurately and accessibly will put you in a strong position.
Delving further into the impact of the pandemic, the conversation turns to how technology has come to the forefront over that time and the forms of technology that have become useful to brokers. Video conferencing is, of course, a big one, but Pete also looks ahead to an uplift of face-to-face meetings. Seeing the future as a hybrid of the two, he points out that some clients really need to be seen in person. They also talk about whether technology could pose any sort of threat to brokers, but ultimately the view is that embracing technology will provide new opportunities for brokers, particularly in the area of lead generation.
Pete also shares his thoughts on how he sees the industry and mortgage brokerages changing over the next 10 years. He points out that over the last 10 or 20 years efficiency has increased greatly and the trend may well continue, perhaps resulting in more frequent 24-hour mortgage offers and electronic verification across the board.
In the vein of looking ahead, the duo talk about the benefits of taking on younger recruits and helping them develop into broker roles. Not only is it good for business, but as Pete explains, it's also rewarding to watch people develop their skills and build their confidence. Hawke has provided work experience placements for school students and Pete discusses the benefits of this.
Finally, they turn their attention to the more immediate future and what there is to look forward to over the next few months.
The Growth Series is a dedicated resource that aims to help mortgage brokers grow their business using digital and communications marketing techniques. For more hints and tips on how to grow your business,you can sign up to the Growth Series for free, here.
0.56 - 33.48 discuss:
Introduction to Pete
Challenges of the mortgage industry over the last 13 years
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