The aim of Awesome August Appraisals Month is to demonstrate that the most significant value a broker can provide to an office, apart from providing exceptional service to their customers, is by becoming a strong referral partner for both sales and property management appraisals.
Generating appraisals remains the key focus for all Agents and Principals. An appraisal is far more valuable to an agent than any referral fee. It is our ambition to show our agents how much more value we can add to their business.
Every appraisal logged into Connect Leads Manager and all leads sent to Wealth Market will go into the draw to have your Power Up Conference ticket reimbursed - there will be one winner in each state, so start referring today.
For some tips and scripts to help you get started, head to Springboard. Stay tuned for the Awesome August #bossbroker leaderboards starting next week!
Could you become The Adviser's next Elite Business Writer?
The Elite Business Writers survey has become the essential indicator for the broking industry’s finest, evaluating Australia’s top business writers across a range of revenue streams. This is a great opportunity for brokers settling more than $5m a month to get involved and receive some fantastic marketing benefits, including recognition of being a top 50 broker.
Find out more and enter your submission which is a simple 10 minute survey to complete before the 4th August 2017 deadline. Click here
Must read advice on how #bossbrokers grow their business
How do #bossbrokers grow their business and broaden their services? They use the Wealth team to offer additional services and a complimentary Financial Health Check. It’s something you can also offer every client. We’ve asked some of our elite #bossbrokers for their advice on useful sales pitches.
- "Make it easy and make it part of your process. For every client.”
- "I want to ensure all my clients walk away from this process in a great position ... and that's why I'm going to arrange for you to have a quick financial health check with my Wealth team."
- "It's complimentary for you. There's no obligation to buy anything or take it any further. It'll be totally up to you and we'll cover the cost of this meeting."
- "It's important and could be one of the most valuable sessions you ever have."
- "I'll get my team to give you a call and set it up for a time that works for you."
- "It's just part of my service."
Discover more in this short video and watch this space for more videos and podcasts from Wealth Market coming soon!
Improvements to the Loan Market Mobile App
We’re pleased to let you know that the bugs in the Loan Market Mobile App have recently been fixed. The new version includes fixes to the following:
- Credit Card Limit incorrectly calculated in Borrowing Power calculator
- Manual entry of the Credit Card Limit in Borrowing Power calculator
- Incorrect Stamp Duty calculation for NSW
- Salary Type did not affect the calculation in Borrowing Power calculator
New Loan Market GO marketing campaign
Loan Market Go is a simple, quality loan that comes with great service for you and your customers. We’ve designed it with your business in mind – so it’s flexible and great value.
There are new competitive variable rate offers for residential owner occupiers and investors (principal and interest lending) and a simplified rate card. Plus, there are new tools for you to use with your customers to explain and promote Loan Market Go. Visit the campaign website to find out more, click here
Over the coming weeks, we’ll be including broker stories and a customer video on redraw. So look out for our email series to get the latest content.
Minimum evidence verification steps for NCCP Act regulated finance
Following an update the following are the minimum evidence verification steps required for NCCP Act regulated finance applications:
Investment Property Purchasers Living with Parents/Relatives
Where an applicant purchasing, constructing or refinancing an investment property advises that they are living at home with parents or other relatives and paying little or no board (with a resulting positive impact on serviceability assessment), documentary evidence of their residential address i.e. confirming they live where they say they do should be requested and obtained in original form. Confirmation should be sought in the form of a signed declaration.
Additionally, please note the following best practice recommendations:
Phone Verification of Employment and Income details
Where a broker has any doubts or concerns about the integrity of any employment/income evidence provided by an applicant, or where the information contained in such evidence has questionable elements, the broker should undertake additional verification steps. This will often be best achieved by carrying out a telephone verification of the applicant's employment and income. Some broking groups adopt these checks as standard practice in all instances.
Tips for completing phone verification steps:
- Confirm the contact telephone number from the business' website or from the telephone directory;
- Call a landline number, rather than a mobile number;
- Identify yourself and state the purpose of the call;
- Confirm the name and position of the person who is providing the employment/income verification;
- Record the details of the check in writing and retain that record with the Preliminary Assessment;
- Suggested templates for recording the check and applicant consent for the check are provided.
Credit History File Check
Obtaining a loan applicant's Credit History file is an effective way to provide an additional layer of verification. This may reveal credit facilities not disclosed by the applicant, which need to be included in the credit application and serviceability assessment. Adverse credit history may have a significant impact on whether the application can be submitted and, if so, to which lender. In those instances where an applicant advises that they have had adverse entries on their Credit History File, make sure you obtain the file prior to submission.
A new way to talk to your customers about rates
In addition to the existing rates flyer on Print UI which advertises a single preselected popular loan product, we can now also provide this as an email template available on Campaign Breeze. Two separate templates have been implemented - one advertising a variable rate and the other advertising a fixed rate.
These flyers are checked for currency and relevance on a monthly basis, so don’t forget to check you're sending out the latest version. The month and year the template was last updated can be found in the template name.
To use this new email template, simply create a new campaign in your Campaign Breeze account and select the template you wish to use, fixed rate or variable rate. If at anytime you don't see the templates there, be sure to check back a few days later as we may need to take them down while they get updated.
Check out Campaign Breeze click here
New training material now available on Springboard
Log into Springboard today to find the new training materials including video workshops and podcasts that are now available. Find the quick links below to what’s new.
NEW Sales and Business resources
- Business Planning: Are you locked and loaded for FY 17/18 (Video Workshop) click here
- Compliance: Living Expenses (Podcast) click here
- Leads, Leads and More Leads... (Video Workshop) click here
- Part 2: Top broker goals for the 17/18 financial year (Podcast) click here
NEW Marketing resources
- Websites: Getting set up! (Video Workshop) click here
- Facebook: The Basics (Video Workshop) click here
- Review You: Never before has this been so important! (Video Workshop) click here
NEW Updates from Sam White
- Sam White interviews Steve Kane, GM NAB (Podcast) click here
Congratulations to those who have reached a personal milestone and official recognition status. See below the list of the Chairman’s Club, Platinum Elite, Elite and Emerging Elite for the financial year 2017.