Mortgage brokers and mortgage business owners in Australia and New Zealand.
If you are looking to grow your numbers and build a highly profitable, consistent, streamlined business that delivers world-class services to your clients... that runs with or without you... you are in the right place.
Hitting $100M a year in deals is a big goal, but according to the MPA Top 100 list in 2018, only 24 brokers in Australia wrote over $100M last year. What about the other 16,000+ brokers out there?
I have worked with brokers since 2008, and I’ve been a mortgage broker. Our lead advisor, Ash Playsted, has 20+ years mortgage industry experience. We have worked with hundreds of brokers and trained thousands - from growing solo-operators through to veterans with billion-dollar loan books.
Using all our years and experience, we have identified seven common trends. These are the key reasons why 99.9% of mortgage brokers never break $100M a year.
1) No system for attracting business.
Most brokers are at the mercy of repeat business, word-of-mouth and referrals... which they cannot control the flow of. To break $100M, you must be in full control of your lead quality and quantity. You need a system that consistently bring in leads on demand.
2) Inefficient sales and loan process.
Most brokers take too long to see a client, do research, present options, sign them up and manage the loan to settlement. Too many brokers spend hours driving to see clients who don’t qualify, countless hours researching dead deals, and days pushing deals to settlement. Getting to $100M is impossible if you, or your team, waste time.
3) Wrong business model.
Most brokers either don’t have a set business model, or they have copied others, which is a bad idea. It’s like trying to solve a puzzle without having the final picture to guide you. You must have the right model for you, your skills and your goals.
4) Failure to get help.
Most brokers quickly become capped and bogged down “IN” the business, and it’s a vicious cycle. They fail to get help, and they fail to get the right advice. You cannot build a sustainable $100M business alone.
5) Being a perfectionist or control-freak.
Many brokers just can’t let go. They feel like “only they can do the work”. They build their business to rely 100% on them. They have to see, feel and touch everything and it has to be done their way. This results in massive stress and a business that is severely limited, and will never hit $100M.
6) Shiny Object Syndrome.
Many brokers get distracted by new ideas, new strategies, new technology... looking for a magic bullet. Getting to $100M does not require all the latest-and-greatest... you just need the right strategies, at the right time, in the right order, for you.
7) They don’t want to.
Some mortgage brokers are happy to treat this like a side-gig and just do a few deals here and there. They don’t want to do $100M - and that’s ok.
Whether your goal is to write $50M, $100M or $200M+ a year; build a big business or keep it simple; work hard or create a lifestyle business. One thing is crystal clear: you need to do something different. Because what got you to this point, may not get you to the next. To finally make the jump, it’s time for a better plan, more effective strategies and the right support to make it happen.
To your success!
Founder and 10X Advisor
Helping brokers grow, since 2008.
P.S. Here are a few places to help get you started:
Mortgage brokers are all different.
Everyone has a unique style, personality, skills and experience. Our stories are all different and we all have different goals and dreams. But there are six common themes in mortgage businesses we see every single day.
How many of these sound like you?
1) You ARE your business.
If you step away, it stops or breaks. Being 100% reliant on you, you feel stressed, trapped and on-edge. When you take a holiday... it’s not a real holiday because you take your phone, laptop and a few files with you... and are still on call. You’re doing ok, maybe quite well financially... but you’ve never found a way to scale the business without working harder.
2) Business is up and down.
You have lean months with barely a loan to settle, the next month you write $5M, then only $1M the next month. Like a Yo-Yo. You have good clients and a few referral partners, but your lead flow and referrals are inconsistent. You’ve never found a way to turn that up-and-down trickle into a consistent flow (or even flood!) of new business.
3) You’ve tried everything.
You’ve tried networking. You’ve tried building a website or marketing funnel. You’ve tried drumming up referral partners. You’ve tried outsourcing. You’ve tried using technology. You’ve tried social media. IT DIDN’T WORK. Not because those strategies don’t work, but you are missing the 1, 2 or 3 critical pieces of the puzzle that no-one has told you about.
4) You’re sick of coasting along.
You know it’s time to really step-up and make a big go of things. Ramp things up. Build a real asset for your future. But you need a clear plan to follow, and someone in your corner pushing you along... otherwise you will coast forever and never realise your potential.
5) You have ZERO time.
You’re running around chasing deals, referral partners, clients, managing the team, going networking, business admin... the list is endless. Sure you’re writing ok numbers, maybe $2-4M a month... and you do want to double or triple those volumes... but wonder how it’s possible to do any more when you already have NO time.
6) You are ambitious and want more.
You want to be the best and have YOUR name on the top of that list. You want to build a serious mortgage business and you want to do it in record time. You know there are things you don’t know, strategies that can accelerate your results, a smarter way... and you will use every edge available to your advantage.
If any of that sounds like you... here’s the good news.
You are not alone. In fact 99% of mortgage brokers are in the same boat. But you have a choice. You can either stay there with them... and have the same-old conversations at PD days or industry events... or you can break free of all this starting now.
Together we can help you create a prosperous, exciting mortgage business you love, that gives you financial certainty, helps you make a serious impact... and allows you to enjoy absolute freedom.
Achieving next level results in your mortgage business does not always mean adding a bunch of extra things you need to do. More often than not, it’s about doing less.
Working smarter, not harder.
Thinking simple, not complex.
Having coached and worked with mortgage brokers for over a decade, we know without a doubt there are 3 fundamental keys you need for fast and sustainable growth.
1) You need a smarter plan.
Traditional business plans might seem like a good idea, but most are completely inactionable and therefore useless. They take days, weeks or even months to prepare... but rarely get used or followed.
Whether you currently have some kind of business plan in place, or nothing at all, it’s time for a smarter one! Here’s what a smarter plan looks like.
A smarter plan.
When you have a smarter plan in place, the complex becomes simple. Huge goals become achievable. You don’t have to think, you just do.
2) You need actionable tools.
A smarter plan is the first step, but it’s not enough for fast and sustainable growth. Because as you know, a plan alone results in a lot of unknowns. How exactly do you do this? How exactly do you do that?
You need a set of actionable tools you can follow, that bypass the trial-and-error normally associated with implementing a new plan.
First, a word of warning. If you are hoping to find a complete set of copy-paste templates for every area of your business, that can be instantly inserted, used and working perfectly, you’ll be disappointed. Please stop looking for the silver bullet short-cut. Here’s why.
The problem with most copy-paste templates is that they are designed to fit only one specific business. They are either developed with mass-appeal in mind, or they are just one example. These templates might not work with your model, your flow, your systems, your core message, or way of doing things. They can actually create more work or confusion.
The real power in actionable tools is not direct copy-paste, but in the ability for you to quickly create, adapt or customise them to 100% suit your business.
What do we mean by “actionable tools”? These can include anything from training videos, to execution plans, frameworks that fast-track creation, customisable scripts and messaging, flow diagrams and more.
The key is to get industry-specific actionable tools that directly assist in implementing your smarter plan.
3) You need serious momentum.
So you’ve got a smarter plan and actionable tools at the ready. Now for the 3rd piece of the puzzle, and the one most brokers don’t have. It’s also the most important.
It’s human nature to have great ideas, great ambition, a great plan... but take little or no action. Start something but don’t finish it. As business owners, we are the boss, nobody is telling us what to do and when to do it. This is both the best and worst thing about being in business!
You need to start, build and sustain serious momentum if you want to break free of your current level of success and jump up a level or two.
What do we mean by “momentum”? I’m talking about a shift in your mindset; setting goals, actions and being held accountable; celebrating wins and progress; and being in a community of ambitious peers to fire you up.
So now you know the 3 keys you need in place to create fast and sustainable growth (in both your numbers and lifestyle). A smarter plan, actionable tools and serious momentum. This framework for success is the most powerful we’ve seen and tested over and over again with mortgage brokers around the world.
With this in mind, we created THE10XBROKER Mastermind. If you’re ambitious and ready to grow, the next section will outline exactly how we deliver and get results with our members.
Let’s start with what this is NOT.
10X is NOT a program to help you qualify as a mortgage broker; it won’t help you compare, put loan applications together or process loans - there is no “how to be a mortgage broker” training here.
You will already be a qualified and confident mortgage broker, writing deals and making money. We can help you ATTRACT, CONNECT, SCALE and GROW your business.
THE10XBROKER is designed for one purpose.
To take mortgage professionals above $100M in deals each year, helping them scale to the next level and build a true business that runs with or without them.
We’ve developed a unique and proven model that helps you get results - where we work closely together to implement our strategies in your mortgage business. These are the exact strategies responsible for adding well over $1 Billion to brokers books around the world.
Here’s how we do that.
1) You get a smarter plan: 10X Game Plan.
First you need a strategic and actionable Game Plan. This is absolutely crucial. Most brokers are running around like headless chickens not knowing where to put their time and energy.
The first thing that’s going to happen as a 10X Member is you’ll have a private, one-on-one
Game Plan session with our 10X Advisor, Ash Playsted - who has written thousands of loans, hired dozens of brokers, setup large partnerships and built and exited multiple mortgage businesses over the past 20+ years.
Getting the advice of someone who has already walked the path and achieved what you want is key. Being advised what to do and what not to do will bypass trial-and-error, avoid mistakes, and fast-track your progress and results.
During your Game Plan session, Ash will do a deep dive into your business. You’ll get crystal clear about your 12-month vision, then reverse engineer and optimise your business to help you win faster. You’ll review and tweak your 10X Formula and 10X Model... and come away with clarity and certainty about the steps to take and the key metrics we’ll track to hit your goals.
This is NOT a cookie-cutter process. All of our Game Plan’s are fully custom, created live and dynamically with you via private online meeting.
2) You get industry-specific actionable tools: 10X Resources.
Once you have your custom 10X Game Plan, it’s time to take action and implement, step-by-step.
Forget working it out by trial-and-error, as a 10X Member you’ll have full online access to the 10X Vault - the biggest and best resource of mortgage-industry specific tools, templates, frameworks, scripts, interviews, strategies, tactics, videos and more.
Designed and curated specifically to help you implement your Game Plan faster and more effectively.
Inside the 10X Vault.
Staying one step ahead.
The 10X Advisor team are constantly seeking out the latest best-practice from around the world in terms of attracting more business, connecting and selling more effectively, driving a great team and building a highly-profitable and sustainable business.
They invest heavily in learning, traveling and networking with the best experts in all these fields... and then customise, simplify and transfer these into strategies you can implement.
Every month the 10X Advisors release a new Masterclass, Implementation Tool or Swipe & Deploy... so you never have to worry about “missing out” on the latest cutting-edge tactics from inside and outside the industry.
This means the 10X Vault library of specific actionable content is expanding every month, bringing you proven strategies and best-practice, to always keep you one step ahead of the competition.
Important note on content.
There’s no need to get overwhelmed by the volume of content and strategies we have available inside the 10X Vault. You do NOT need to implement all of it. Far from it.
You only need to review and implement specific parts one at a time, as they relate to your custom Game Plan and the advice you receive.
That’s why we don’t just give you access to the 10X Vault, rather through our 10X Support we point you to the exact sections to help you implement at every step.
3) We help you create serious momentum: 10X Support.
As a 10X Member, we don’t just give you a plan and tools and wish you all the best. Set-and-forget doesn’t work. We know, without a doubt, you’ll need continued help, advice and support along the way.
The key to getting results and wins is being held accountable and to a higher standard. That’s why in 10X you have a support team on your side, where we continue to work closely with you to build momentum through our unique “Advisor-Coach-Community” structure.
As a 10X Member, you’ll be supported on three key levels:
10X Strategy Advisors.
Your 10X Strategy Advisors are accessible and available to help make sure you’re always clear and confident and moving forward. They will critique your work, rip it apart, and put it back together again, so it performs better than it would on your own.
Available every single week for you to ask questions and get strategic guidance on anything you need. Run as a group online webinar, on the same day and time every week, so you’re never more than 7-days from getting the high-level advice you need. Plus, if you need extra support, private 20-minute strategy sessions are available too.
10X Momentum Coach.
Your 10X Momentum Coach is dedicated to working with you one-on-one every single month. These sessions will help you overcome challenges, maximise opportunities, track your key numbers - the 10X Dials, create simple action plans, direct you to specific resources, build momentum, hold you accountable and get things done. Your coach is also there for extra support and guidance as needed.
10X Member Community.
We will connect you with your new 10X team, our online community of ambitious, high-performance mortgage professionals from around the world, who discuss, help and support each other to achieve bigger and better things.
Available online 24/7, the 10X Member Community will pull you up, motivate you, challenge you and support you through thick and thin. You will make connections, new friends and have access to a like-minded network you can call on at any time. The 10X Strategy Advisors and 10X Momentum Coaches are also active in this online community.
With this level of support behind you, you have no place to go but up. In 10X we have a commitment to you that: “We will not let you off. Because if we let you off, we let you down.”
So as a 10X Member you’ve got a clear Game Plan, actionable Resources and strong Support to ensure you hit your goals. But there’s one more thing you get, and our members rave about them.
4) You get to learn and mix with the best: 10X Mastermind Events.
10X Members also get access to our 2-day live 10X Mastermind Events: held three times each year and included for you and a business partner or key team member.
These are NOT like your industry body or aggregator events and you want to do whatever it takes to be there. Members love and rave about our live events. In fact most Members attend our events over their aggregator conferences.
When we get together we dive deep on specific strategies giving you new tools; invite amazing special guests and top-performing brokers; spend time laser-focused working on your business; run mastermind sessions to eliminate challenges and maximise opportunities; allow plenty of time to meet and chat with other members; share meals and drinks together to celebrate success; and a lot more.
These are a great opportunity to get away and spend dedicated time working on your business. Time to mingle and mix with the 10X Advisors, Coaches and Members. A massive dose of focus and motivation for the next few months.
The 10X Mastermind is open to mortgage professionals in Australia and New Zealand BY APPLICATION ONLY.
To see if you qualify for 10X, complete our short questionnaire and book a 10-minute chat with our head 10X Growth Coach.
Be fast to ACT. Be fast to ASK. Be fast to 10X.
Owned and operated by Broker Profits Vault (est. 2008), helping mortgage businesses grow easier and faster, through industry-leading advice, resources and support.
We are proud members of both the MFAA and FBAA.
For all enquiries please go to 10X Contact.
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