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Already got a VA? Here’s how to maximise their full potential

Being a mortgage broker comes with a multitude of responsibilities, and I can only imagine the frustration you could get from chasing your businesses, helping your clients, and creating strategies all for a seamless outcome. 

On a typical day, you could be following up with a bank and wasting your precious time to get into the queue – not only you’re submitting yourself into a lot of stress, but you’re losing all the time you could get to leverage your business!

One effective solution for this is to take advantage of a Virtual Assistant’s (VA) help. But if you already have one and still find yourself wearing all the hats, ask yourself – are you making the most out of your VA? Are you truly maximising the hours you pay them?

If you think you have no work to delegate to your VA and are unsure how exactly they can help with your business, let’s take a look at the different stages of the mortgage broking process and how much time you could save up by offloading your work to them.

Lead Stage

At the lead stage, your VA can assist you by entering client details into your CRM, creating credit reports, and ensuring compliance requirements are met. Handing these tasks over to your VA will allow you to utilise your time to nurture client relationships, expand your professional network, or even indulge in some well-deserved self-care.

Time Saved: 60-90 minutes

Research Stage

This is where your VA’s expertise shines, conducting comprehensive product comparisons, analysing pricing, evaluating lenders’ policies, and providing recommendations tailored to each client’s needs. These are done best by a senior VA as it requires more analytical and critical thinking skills.

With a senior VA giving you more time, you can use this newfound freedom to stay ahead of industry trends or fine-tune your business strategies.

Time Saved: 60-90 minutes

Pre-Submission Stage

In the pre-submission stage, your VA can be your trusted ally, assisting with a multitude of tasks such as creating application checklists, organising files, and ensuring compliance requirements are met.

By offloading these responsibilities to your VA, you can save a significant chunk of time to think about how to better personalise your services, refine your marketing campaigns, or even learn new hobbies and skills!

Time Saved: 2-3 Hours

Submission Stage

The submission stage is a critical area to meet, but one where your VA’s full potential can truly shine. You can delegate tasks such as data entry on Apply Online (AOL), order valuation, income analysis, servicing calculator updates, and proactive client communication to your VA.

By doing so, you’ll save an impressive amount of time to allow you to focus on high-value activities – whether it’s about forming strategic partnerships, exploring new business opportunities, or simply enhancing your business knowledge, this massive chunk of time you’ll save will surely contribute to your overall business growth as your VA takes the stage.

Time Saved: 3-4 Hours

Post-Submission Stage

Once an application is submitted, your VA will play a crucial role in keeping your business wheels turning smoothly. They can follow up with lenders, solicitors, and other 3rd parties involved, track loan applications, address exceptions and conditions, and review mortgage documents. Take advantage of this saved time to recharge and get ready for taking on more clients.

Time Saved: 1-2 Hours

Settlement Stage

In the settlement stage, a senior VA becomes your reliable support system. They can keep clients updated on the status of their loan applications, close files in your CRM, and handle various administrative tasks depending on your client’s application type.

Time Saved: 20-30 minutes

Post-Settlement Stage

Lastly, your VA can assist with the post-settlement stage by helping with pricing reviews and reviewing mortgage variations. By entrusting these tasks to your VA, you will ensure that your clients will receive the best possible service while saving yourself time for other critical activities.

Time Saved: 20-30 minutes

Considering the time saved at each stage, you can calculate the cumulative hours you could save per week that could have a significant impact on your business. Let’s say you work with a VA for $550 a week for 10 clients and save a total of 18 hours. If your rate is $100 per hour, you could potentially save up to $1250 a week! That’s an impressive return on investment that can fuel your business growth and personal well-being.

By tapping into the full potential of your VA, you can optimise your efficiency at every stage of the mortgage broking process. With the burden of admin and time-consuming duties lifted you can focus on growing your business while achieving a work-life balance every broker has always wanted.

If you’re ready to unlock the full potential of your VA, consider partnering with Koruna Assist—an ISO-certified organisation best at providing you with skilled and highly-trained virtual assistants specific to your industry. Not only can they support you with mortgage broking but also in other areas including marketing, calendar management, and customer service.

Remember, success is not done alone. If you’re ready to have an expert helping hand to grow your business, talk to us today and let’s help achieve your full potential!

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Case Study:

Chris Brown is a Director and Senior Mortgage Broker at New Vision Financial Services. He runs a Sydney based mortgage brokerage that’s servicing clients since 2015.

Case Study:

Sam Panetta is a co-founder and the head of the lending department at Aureus Financial. His business helps clients get the funding that they need to grow their business, acquire their dream home and build wealth through property.

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