Tuesday 29 October 2013

Agent Referral Program


Agent Referral Program


Below I have given a basic run down of how my agent referral system works, the program will only be on offer until there becomes too many agents to service. 

Loans over $300,000
Upfront commission is calculated at 30% of lenders commission after aggregator fees.  Based on average lender commissions we can use 0.1881% of the loan amount.

Based on a loan of $300,000 multiplied by 0.1881% = $564.30 commission
Trail commission is calculated at 30% of the lenders commission after aggregator fees.  Based on average lender commissions we can use 0.047% of the loan amount at the end of the month.

Based on a loan of $300,000 multiplied by 0.047% = $141/12 = $11.75.  It is calculated and paid monthly and will change as the loan balance changes for the life of the loan.

Loans between $150,000 - $299,999
These loans will be paid a referral payment between $200 - $400 depending on loan and amount.

As the referral commissions are very competitive I do require a basic commitment of at least one loan per month settled from referring partners.  This is a very achievable target and ensures that there is enough business for all parties to benefit.

If you are interested in working with Switch Now Home Loans then please call 0448 111 046 or email william@switchnowhomeloans.com.au to discuss.

Tuesday 20 August 2013

Carving a part in the investor market


Carving a part in the investor market.

A pathway to growth that many agents are now travelling on is a way to service their investor clients.  Agents are now looking for these opportunities because now more than ever there is an understanding that to perform you must branch out and be a little different than what the majority are doing.

By identifying investors and effectively servicing them there are several benefits which can be gained:

-          Building a relationship with a repeat buyer.

-          Potentially higher commissions as there are benefits for the client to invest in new property.

-          As you are assisting in the wealth building process there is the increased potential for referrals from these clients.

-          Open up the opportunity to get a foothold in the SMSF market which will continue to grow for a long time.

-          Positioning yourself differently than other agents can be a big advantage to your profile.

-          Working with other professionals to service these clients leads to referrals from business partners.

 
Many agents have tried working with this market in the past with mixed results; from the agent’s point of view they are trying to sell property and quite often this is where they lose investors.  As a general rule investors want to see the financial benefits as that represents the most value to them. 

To most investors property professionals are relatively the same in the way that all have access to good investments and no one agent has access to all the good investments.  So what is the key to accessing this lucrative market?  Give the investors what they are looking for.

The successful property professionals are teaming up with other professionals such as accountants, financial planners and mortgage brokers to educate these clients into becoming well informed investors.  By working as a team it helps to create a strong and trusted client relationship so that by the time the customer has gone through the education process there is already a high level of trust.

The financial benefits, information and education are a part of the process and the property purchase represents the execution of part of the investment plan.  This makes it easy to present good properties to the client and let them select the property they think is best.  If you have ever been to an investment property seminar than this is the process that is used. 


Will Bell is a mortgage broker that works with his network of property professionals, accountants and financial planners.  His major focus is to create life time relationships with clients by giving them access to the best information and advice. 

If you wish to discuss accessing the investor market with Will then he is contactable on 0448 111 046 or william@switchnowhomeloans.com.au