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Brokers, Here’s How to Spend 80% of Your Time Focusing on Sales

As a mortgage broker, you understand the importance of building strong client relationships and securing lucrative deals. Yet, a significant portion of your day can be consumed by administrative tasks and operational hurdles. Studies reveal that brokers can spend upwards of 60% of their time on non-sales activities, hindering their ability to focus on core revenue-generating functions.

The ideal scenario? Imagine dedicating 80% of your workday to activities that directly fuel sales success and propel your business forward. Here’s how you can achieve this coveted 80/20 split: by implementing strategic changes to streamline your operations.

Identifying Your Time-Sinks

The first step towards maximising sales focus involves pinpointing the areas that drain your valuable time and productivity. These common culprits plague many brokers:

  • Manual Data Entry and Administrative Tasks: Manually entering loan information, chasing down documentation, and managing client databases can be incredibly time-consuming and error-prone.
  • Scheduling and Client Communication Management: Juggling appointments, emails, and phone calls requires meticulous organisation and can limit your ability to engage in high-value client interactions.
  • Social Media Marketing and Content Creation: Maintaining a consistent online presence and crafting engaging content are crucial for attracting new clients, but can be a significant time investment.
  • Email Marketing and Lead Nurturing Campaigns: Developing and executing personalised email campaigns to nurture leads is essential, but requires careful planning and management.

While these tasks are necessary components of running a successful business, they shouldn’t overshadow your primary objective – selling mortgages. By implementing efficient strategies, you can reclaim these lost hours and dedicate them to activities with a direct impact on your bottom line.

Strategies for Streamlined Operations

Here’s where we explore methods to transform your workflow and free up valuable time for sales-focused activities:

  • Leveraging Technology as Your Efficiency Partner: Embrace technology designed to automate repetitive tasks. Invest in software that integrates with lenders, automatically populates loan data, and manages client information. Utilise a good Customer Relationship Management (CRM) system to centralise communication, schedule appointments, and track interactions with clients.
  • Boost Your VA’s Efficiency: To maximise your VA’s impact, invest in ongoing training and establish clear processes for delegated tasks. This ensures they can handle more complex tasks with confidence and minimise errors. Open communication and collaboration are also key, so make sure to provide feedback and encourage your VA to ask questions regularly.
  • The AI Playbook: Explore the potential of AI-powered tools to enhance marketing efforts. Platforms like ChatGPT can assist with content creation, social media management, and email marketing campaigns. This frees up your time while maintaining a consistent online presence and engaging with potential clients.

    CTA: [Get the Ultimate AI Playbook Here]

Investing in the 80/20: A Long-Term Perspective

Implementing these strategies can significantly increase the time you dedicate to sales activities (80%) for improved conversion rates, higher revenue generation, and ultimately, a thriving business. This includes:

  • Client consultations and needs analysis
  • Building rapport and trust with potential clients
  • Negotiating loan terms and interest rates
  • Presenting loan options and guiding clients through the application process
  • Following up with clients and addressing any questions or concerns
  • Networking with real estate agents and other professionals to generate leads

The remaining 20% of your time can be spent on essential non-sales tasks that require your expertise or oversight. This might include:

  • Reviewing and approving work completed by your VA (e.g., data entry, scheduling)
  • Conducting high-level strategic planning for your business
  • Interviewing and hiring new team members (if applicable)
  • Staying up-to-date on industry trends and regulations
  • Maintaining a strong online presence and brand identity (beyond day-to-day social media management)

Remember, the 80/20 principle is a journey, not a destination. It’s about continuously optimising your workflow and leveraging resources to ensure you’re spending more time where it matters most – driving sales and building a thriving business.

Want to leverage the 80/20 principle in your business? Let’s chat and see how Koruna Assist can help you achieve your sales goals.

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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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