Take your pipeline management techniques to the next level by knowing what's myth and what's not.
Director of Discovery Finance Group, Joshua Vecchio has written over $250m using techniques and tips being shared on his recently launched website Top Broker.
Pipeline management is one of the most critical steps in becoming a top broker in our industry, and yet so many ask – pipelines, what are they good for? It is consistently at the forefront of many brokers minds. Effective pipeline management is a mythical beast, does it really exist? If it does, how can it be done effectively?
Here are a few myths and tips about pipeline management that may come as a surprise.
Myth – takes up too much time – Spend the first and last 20 minutes of your day getting your pipeline in order.
This perception is a reality for many out there. The idea that managing a pipeline takes up time is a fair one to say, however in my experience taking the time to manage and uphold a pipeline with quality, up-to-date information is invaluable. Not only does it reduce the chance of double handling which increases productivity, it also allows you to get up to speed with clients based on the information already held. Myth BUSTED!
Myth – details aren’t important – Details are key, use these to know your clients better than they know themselves.
As Bonnie was to Clyde, so is detail to pipeline management. Detail is king; it doesn’t get any simpler than that. No different to a farmer who sows seed in the winter with a vision to harvest the crop in spring. A broker must also gather and maintain customer information with the long term view in mind. Gathering information upfront will assist with any future interactions, giving the customer a truly exceptional experience. Myth BUSTED!
Myth – why follow up – Persistence wins the business.
The key to unlocking your success will be in a consistent follow up process. A customer needs to interact 7 times with you before trust is established. So having a consistent follow up process will not only keep you at the forefront of the customer’s mind but build that absolute trust and creditability. Myth BUSTED!
Myth – I don’t need a process – Possibly the most important of all.
Without systems you don’t have a business, and without a business you are just a one person band! Process is vital. We can draw from the successes of a sausage factory. As any great sausage factory would know, having a set process will increase productivity and output. This means there is a predictable result time and time again. Myth BUSTED!
This article originally appeared on Top Broker, a growing online space where tips and strategies are shared by Australia's top mortgage brokers.
