Going Commercial with Special Guest; Stuart Donaldson Accendo Financial
Designed for Brokers, made by Brokers.
June 29th, 2022
This podcast is our chance to give back to the mortgage broking industry and talk about real issues that are affecting most brokers and loan writers right now. Learning, Validation and Respect = the very foundations of all relationships.
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WE DISCUSS IN THIS EPISODE:
Today we’re talking about “Going Commercial” and diversification with equipment finance, asset finance and commercial lending and what will that mean for you with Stuart Donaldson from Accendo Financial. Here are the top take-away tips:
- Commercial is a different beast!
- Firstly you need that commitment that you want to diversify, then find ways through workflow, automations and other things to find capacity in your week. Then once you have capacity, you can start to diversify.
- It is a commitment and brokers are so busy, and you might think “I want to do it, but not now”. I would ask them; “If not now, then when?”
- You need a plan. Understand what are you strengths and weaknesses, what are your capabilities, what is the plan or who are the people to help you make this happen.
- Commercial lending does come with its own skills, knowledge and accreditation. How can someone get to the next stage to be a commercial writer?
- “Going Commercial” doesn’t happen overnight. Attend the PD days, get specific training about commercial lending and cashflow and pulling it all together and join a mentoring program.
- Do you find that most people going through the training business owners or brokers? It’s more the mortgage brokers themselves. We deal separately with business owners.
- Building a client base for commercial is different than residential. So the first few months of the training we do, some of the topics we walk through; “How do I create awareness, how do i build relationships, how do i build a database, how do i present on social media…” which is all about building trust and awareness with your client base.
- If you lack experience, but not desire you can definitely get experience with SME. Pick a partner who is able to work with you and educate you as you go.
Top Three Tips To Attract more SME and Commercial Clients:
- Pull the trigger: Do something about it.
- Be prepared to have a plan: Do your research and know where you will get your skills to achieve it.
- Explore your database: Understand your database, who is in the list, what is the potential there.
And – get a mentor.
Stuart says: “Accendo runs a small group, intensive mentorship and can help with gaining accreditation for commercial lending. It is definitely a partnership more than a coaching relationship. We also have an alumni program with the Accendo group of experts”
See here for more details: accendofin.com.au
If you would like a copy of the presentation slides Stuart mentions in the episode, please email Ruan: ruan@successandbroker.com.au
Key Quotes
“What is the difference between a broker doing both residential and commercial and a broker to specialise in one or the other?” – Marissa
“What are the implications of NOT diversifying?” – Stuart
“If I was to start slicing and dicing my time, would that hold me back, would it become my achilles heel?” – Ruan
THANK YOU TO OUR PRESENTERS: RUAN BURGER AND MARISSA SCHULZE
