In this episode of the LVR Podcast, hosts Ruan Burger and Marissa Schulze, along with guest Trent Carter from Provident Lending Business Solutions, delve into the pathways for mortgage brokers to integrate commercial lending into their businesses.
They address common barriers such as time management and knowledge gaps, and explore strategies for success in commercial lending. The conversation provides valuable insights on maximising opportunities within your existing client base, the importance of education and mentorship, and the potential revenue benefits of diversified brokerage services.
Key points from the episode include:
- Overcoming fear and hesitation related to time and knowledge in commercial lending
- Importance of time management and delegation to explore commercial opportunities
- Shift from product-focused to client-focused brokerage to unlock potential in the self-employed sector
- Commercial lending's significant impact on brokerage revenue
- Education and mentorship as keys to confidence and success in commercial lending
- Non-traditional referral sources can be crucial for business expansion
- Technology's influence on the brokerage industry and the increasing importance of complex lending solutions
Key quotes from the episode include:
"It's around getting that confidence around you don't need to know everything, and to get comfortable asking the right questions." - Trent
"To anyone saying they don't know where to start when it comes to commercial lending, if this is truly a lane that they want to open in their business, you guys have gone and built the highway so to speak." - Ruan
"There's more options and opportunities for clients out there with technology, we as brokers need to get a lot better at handling the more complex stuff because that is the stuff that is going to be harder for technology to fill the gap." - Marissa
"I actually think that if you do get educated in that commercial lending space, it actually makes you a better resi broker too." - Trent
"With human interaction, it's just such a good opportunity for us to not just strengthen our proposition to market and to our clients, but also protect our clients' wellbeing through our engagement." - Ruan
"We hope this inspires our listeners to create some time in their busy schedules to invest in their education and upskilling into that commercial space, because there is a huge opportunity." - Marissa
Thank You To Our Hosts: Ruan Burger and Marissa Schulze
More From Marissa and her company, Rise High Financial Solutions:
More From Ruan and his company, Success and Broker:
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