Show Notes
I’m starting a new series called What’s Your Move?I’ll take real situations from coaching calls, remove the personal details, and give you a chance to decide what you would do before I share my take. In this first episode, a broker is feeling burnt out and thinking about pivoting into a completely different niche. The interesting part is that his funnel is already working. He can spend about $1,100 to generate roughly $5,800 in revenue. The problem is that too many files are falling apart between application and close.So the question is simple: do you scrap the model and start over, or fix the part that is broken?In This Episode, I Cover:
The Setup - A broker doing about 60 files a year is frustrated with his current model and thinking about making a major pivot. The Numbers Behind the Funnel - Why the economics of the business suggested there was still something worth protecting. Where the Deals Were Falling Apart - The leads and applications were there, but the process was breaking down before funding. The Client Concierge Idea - Why I suggested putting the right person in charge of the relationship from application through close. When to Pivot and When to Fix - Why I would not walk away from a working acquisition channel until I had tried to solve the real bottleneck.
Do not throw away a working business model just because one part of the process is broken. Find the bottleneck, fix it, and then see if the machine can scale.—We’re bringing BrokerTalks back to Vancouver, Toronto, and Calgary this October.Toronto - Oct 14Calgary - Oct 16Vancouver - Oct 20If you want to learn from brokers who are actually doing the work, check out https://brokertalks.com/.ILMB PROMOUse code ‘SCOTT’ for $50 OFF—Follow me on Instagram: www.instagram.com/scottpeckford/I Love Mortgage Brokering: www.ilovemortgagebrokering.comFind out more about BRX Mortgage: www.whybrx.com Subscribe to my email list, Peckford's PlaybookJoin the Mortgage Mindset DailyGamify your prospecting with the 10@10 AppI Love Mortgage Brokering is in partnership with Ownwell.To see how top brokers are keeping clients engaged and generating leads from their database, visit ownwell.ca/scott.
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