Mortgage Broker Acceleration

Many cash flow-poor brokers make the mistake of buying leads as a last resort. Since they often lack effective processes to convert those leads, they fail to make a return on their investment. Remember that at the end of the day, there’s no point in paying for leads you can’t convert. But this doesn’t mean that brokers should never pay for leads. So, there’s really no one-size-fits-all approach he...

You don’t create a content ecosystem for your mortgage broking business by just sending out emails and posting on social media. A content ecosystem is more like an elaborate spiderweb. It’s highly strategized, with multiple anchor points and subpoints. And everything is interconnected to serve a core purpose – catching prey. This means your content ecosystem is designed to attract and convert clie...

How much should a mortgage broking business owner pay their staff? And how much should brokers pay themselves? Unfortunately, many brokers turn to generic answers (usually a pay range) when faced with these questions. But these generic numbers don’t take a business’s specific context into account. In this episode of Mortgage Broker Acceleration, James Veigli and Ash Playsted discuss the answers to...

Are you familiar with the Theory of Constraints? This management framework posits that there is always one weak point in any system or machine. And until that specific constraint is fixed, that system cannot achieve significant progress. In this episode of Mortgage Broker Acceleration, James Veigli and Ash Playsted apply this theory to mortgage brokers. Tune in to learn how to find the point of co...

The mortgage broking industry has gone through a few phases. There was phase 1.0 during the pre-internet era, then phase 2.0 after it. The industry only entered into phase 3.0 in the past 1-2 years. And brokers who aren’t aware of what’s to come are at risk of being outcompeted. In this episode of Mortgage Broker Acceleration, James Veigli and Ash Playsted unpack the implications of phase 3.0. The...

Brokers always have deals to seal, money to make, and deadlines to meet. Under that avalanche of work, stress, and pressure, it’s very easy to lose track of their ‘why’. And when brokers lose track of their inner motivation, it’s very easy for the overwhelm to overwhelm. In this episode of Mortgage Broker Acceleration, James Veigli and Ash Playsted discuss why the broker’s ‘why’ is so important. T...

As the year draws to an end, many brokers think of their plans and ambitions for 2022. This is the time for making lists and new year’s resolutions. However, many brokers unfortunately set goals that are too narrowly defined by numerical targets. For example, hitting a specific income bracket or signing a specific number of loans. In episode 63 of Mortgage Broker Acceleration, James Veigli and Ash...

Goal-setting is an important aspect of every business. Unfortunately, many brokers often set goals in a thoughtless and careless manner. This leads them to eventually abandon them (as with many New Year’s Resolutions). Or they stubbornly insist on sticking to an old goal long after it becomes counterproductive. In this episode of Mortgage Broker Acceleration, James Veigli and Ash Playsted talk abo...

What business lessons can brokers learn from Santa Claus? Most kids are taught to believe that Santa rewards ‘niceness’, not naughtiness. Likewise, many brokers believe that they will be rewarded for being ‘good’. If they have good intentions and a good work ethic, their business will succeed, right? In this episode of Mortgage Broker Acceleration, James Veigli and Ash Playsted explain why this mi...

Brokers today have a plethora of tech solutions that promise to enhance efficiency and profitability. In many cases, it makes total sense to reap the time savings they provide. However, many brokers indiscriminately jump on tech solutions to solve their immediate problems. In episode 60 of Mortgage Broker Acceleration, James Veigli and Ash Playsted discuss the ideal approach to technology. They ex...

Many brokers don’t have a clear sense of where their business is – or where it’s going. It’s almost as if they’re walking around with a blindfold on. That’s why it’s so easy for them to step into the metaphorical quicksand of this industry. Their mortgage business starts to slowly sink... And by the time they realise it, it’s often too late. In episode 59 of Mortgage Broker Acceleration, James Vei...

Everyone knows that technology is essential to a successful 21st century mortgage broking business. But there is always a danger of going overboard with high tech solutions. If you’re not clear about what your mortgage broking business really needs, you’ll end up with Frankenstein’s monster of expensive tech solutions you hardly use. In this episode of Mortgage Broker Acceleration, James Veigli an...

Many brokers dream of having a successful mortgage broking business that doesn’t require much of their time. However, most still struggle to enjoy the lifestyle and freedom they want. How do you grow a successful mortgage broking business that doesn’t require you to be so deeply involved in it? In this episode of Mortgage Broker Acceleration, James Veigli and Ash Playsted explain how you can achie...

Getting referrals is the lifeblood of a good mortgage business. Whether you are a brand new or experienced broker, you’ll encounter many opportunities to connect with potential partners. But how can you make the most out of each of them? In this episode of Mortgage Broker Acceleration, James Veigli and Ash Playsted explain why brokers should actively and deliberately seek out referral opportunitie...

What do you make of brokers who are life partners and business partners? It’s actually quite common for a broker’s partner to become more and more involved in the business over time. It's the reason why there are many life-and-business-partner teams out there. Naturally, there are many pros and cons to this common arrangement. In this episode of Mortgage Broker Acceleration, James Veigli and...

When you think of working with accountants, do you think of running in the other direction? It is true that you need a different mindset when working with accountants. However, they can be a reliable source of regular referrals – IF you have the right mindset and strategy. In episode 54 of Mortgage Broker Acceleration James Veigli and Ash Playsted help brokers put themselves in an accountant’s sho...

Do you know what happens when brokers get too busy? Many of them will simply throw more staff at the problem. They might hire extra loan writers or more admin staff, for example, to try to keep up with their mortgage business. In this episode of Mortgage Broker Acceleration, James Veigli and Ash Playsted explain why this is a completely wrong approach. They use Cory, a broker who successfully scal...

Often, brokers put a lot of effort into being friendly and likeable. And while likability is important, many brokers actually make the mistake of trying to be too nice. Some customers might respond positively to this, but it ultimately doesn’t help their mortgage business as a whole. In this episode of Mortgage Broker Acceleration, James Veigli and Ash Playsted address misguided ideas about nicene...

Many experienced and hardworking brokers out there will get stuck at one point or another. Yes, they’re constantly busy and preoccupied with their business, but they just can’t take things to the next level. They often experiment with various “solutions”, but these ultimately don’t produce the desired effect. This episode of Mortgage Broker Acceleration focuses on what seasoned brokers need to do...

"It can’t be that simple, right?" This mentality is possibly the biggest obstacle that most brokers face. After all, they often believe that they need a complex formula to make their mortgage business more successful. So, they try to implement random strategies and advice, only to overcomplicate things. However, the truth is that there is no secret to business success. Most brokers alrea...

Many brokers feel trapped inside their business. This might be because they can’t afford to take time away from work. And even when they do go on holiday, their work follows them through their phone or laptop. Or, it could be because they don’t enjoy all the aspects of running their business. In this episode of Mortgage Broker Acceleration, James Veigli and Ash Playsted discuss how brokers can esc...

The more successful you are, the more stress you will encounter. And your ability to manage the higher stress levels will make or break you as a broker. Unfortunately, many high-flying brokers get crushed by the weight of their hard-earned success. In this episode of Mortgage Broker Acceleration, James Veigli and Ash Playsted detail the mindset shift you need to manage the stress of success. They...

Many people think that success as a broker depends on technical know-how. While technical capability is certainly important, it’s your mindset that’s most crucial. Your ability to align your goals and actions with your true nature as a person accounts for 80% of your success. As such, this episode of Mortgage Broker Acceleration takes on a more introspective and philosophical track. James Veigli p...

It’s intuitive to think of a weakness as a liability. A tennis player with a weak backhand, for example, would naturally worry that his opponent will exploit his weakness. He must play to his strengths and work on his weak points. Otherwise, he will be wiped off the court. Many brokers carry over a similar mindset to business, which unfortunately puts them into an entrepreneurial trap. In this epi...

"To grow your business, what is it that you need the most?" When asked this question, most brokers would say "Well, I need more business. I need more leads." This does make sense since more leads generally mean more customers and more loans. The catch is that most brokers are already too busy. So, their biggest problem is their inability to handle more leads, not the lack of le...