In 2004 the business was called Richmond House Mortgages & Loans and was a typical small broker providing mortgages and insurance to local clients via word of mouth marketing. By early 2008, the company had grown to sell as many as 225 mortgages per month under a new name, The Mortgage Broker Limited.
Fast Growth Business
When starting his intense weekly business coaching programme, the first step for Managing Director Darren Pescod was to put in place a vision for the long term of the business – to write £1 Billion of mortgage business, to offer the best customer service and to become a major player in the UK mortgage world.
This vision laid down the tracks for rapid growth, where sales leapt from an average of 30 mortgages per month to a peak of 225 per month before the credit crunch hit.
Thanks to the effectiveness of their Internet marketing work, sales leads came very easily and as the team grew, sales management came into focus.
The Right People on the Bus
Here are some of the strategies that led to The Mortgage Broker Ltd dominating the awards and performance table of their mortgage network (most brokers belong to umbrella organisations that look after relationships with lenders and manage compliance with FSA requirements)…
- Published individual sales targets with minimum performance levels
- Sales training to drive solution selling, rather than product pushing
- Psychometric profiling to recruit only high performers to the sales team
- Scripted sales process, including emails and phone calls
- Relentless and thorough follow-up process for all sales leads
- Multiple award winning customer service processes
- Sales coaching to improve individual performances
In Darren’s Own Words…
“When I first met Lee we were writing 30 mortgages a month, including my own sales. With his help and guidance we are now writing in excess of 150 mortgages per month even in this so called ‘credit crunch’. I am also now free to focus on our growth and management, as the structure of the business has been shaped so that I am no longer advising.”
Disclaimer and Contact Information
Not all businesses will achieve results of this nature or with this speed. These results are not typical for every client; the directors worked extraordinarily hard to implement the advice, strategies and actions from the coaching programme. Your results may vary depending upon your industry, your specific situation and the effort you put into your business.
Darren Pescod will be happy to confirm these results and can be contacted via his company website The Mortgage Broker Ltd.