Prospecting and selling

by AB13 Jan 2016
Where to Start?
Most brokers will have a number of self-employed and small to medium enterprise (SME) clients in their database. Whether or not you have current, or arranged recent loans for these clients, the majority of them will have a need for finance in one form or another at some point in the future and so it is all about getting to know them and working to understand their needs.

This can be a much more effective path than turning to third party professionals you may have been introduced to such as accountants, financial planners or real estate agents where it is mostly a case of asking for, or waiting on, referrals. As you already have a rapport with your own client base, we can show you just how easy it is to generate more business just by becoming a little more involved in their life and world.
So, just how do you go about prospecting?
Approach this process with a long term view and don’t be put off if it doesn’t yield immediate results. What you are seeking is to be your client’s first preference when they do need something in the future.

Here are the “how to” steps to get underway:

1.    Short list 5-10 self-employed clients you know well who ideally have a positive approach to keeping on top of their finances and wealth management planning. Start with one or two you are comfortable with and vice-versa.
2.    Review your past dealings to get on top of their previous finance requirements and refresh your knowledge about them, their business and their plans.
3.    Have a reason to catch up with them. Everyone is busy so offer something of value by sharing some knowledge you know they will be interested in or leave something that will remind them of you.
4.    Arrange to go and see them at their place of business. This is important as it can be a great prompt when you look around and see what their needs might include. Bigger premises, replacement equipment, more trucks, forklifts, IT equipment, a refurbishment?
5.    Offer to take a look at how you can help them or add value by reviewing their financial position and, if possible, obtain their most recent financial statements.

What you are now looking for.
Once you have put yourself in a position to have a financial discussion with your client, these are the things you are on the lookout for:

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Thinktank Property Finance is Australia’s leading specialist commercial lender. Established ten years ago, Thinktank has lent approaching $750m for the purchase, equity release and refinance of commercial properties around the country.
With an emphasis on set and forget loan structures with up front interest only periods but without ongoing fees, annual reviews or regular re-valuations, Thinktank offers Full, Mid and Quick Doc options on typical retail, office and industrial properties located in cities and regions with populations greater than 20,000. We can also provide finance for residential, mixed use and a variety of specialised properties including child care, hostels, reception centres and hotels.
Lending up to $3m per property and 75% LVR for Full Doc and SMSF loans, Thinktank will also lend up to $2m and 70% LVR under alternate verification and to 65% LVR on self-certified income. Whether owner-occupied or for investment purposes, we have a range of options to suit all situations. Up front commissions of up to 1.0% and trail of 0.50% can be selected on all loans.
With practically 100% of our loans introduced via the broker channel, we pride ourselves on giving back to the industry as best we can through ongoing delivery of deal workshopping, training and mentoring while also offering CPD points at accredited educational seminars. We are also now running “How to Prospect Effectively” sessions on a regular basis and for more information on when these are on in your area, please contact Peter Vala, Head of Sales and Distribution on 0468 989 555 or