Prospecting and selling

by AB13 Jan 2016

Tip No. 6: Is your client aware of how much extra they can borrow if they want, or need to?

View business finances and personal finances side by side.
Be sure to get an up to date understanding of your clients combined financial position between their business, as shown in the financial statements, and their personal asset and liability statement. This is necessary so you can see what range of options are available to positively structure their financial situation.
Tip No. 7: Get a full financial picture by also obtaining an up to date personal statement of assets and liabilities.

How to sell.
Having developed an understanding of the wider financial position, the next step is to get a good feel for their key financial objectives (eg. improve cash flow), desires (buy their own commercial property), worries (loss of income through ill health) and concerns (maybe a downturn in business conditions). The answers to these questions can introduce other considerations such as life insurance or income protection policies, looking into a debtor finance facility, or talking to an accountant or financial planner about an SMSF.
Tip No. 8: Think broadly. What will help improve your client’s situation, give peace of mind or create wealth?

Ask open ended questions to extract this information and to guide the conversation like a residential loan Fact Find:
“If interest rates were to rise how would you manage the impact on your cash flow?”
“What would you do in the event of serious ill health affecting you or your business partner?”

This is not supposed to be a hard conversation though, the intention is to raise your client’s awareness around possible solutions to issues they’ve identified while also prompting thoughts on other things they may not have known about or considered until now.

Questions you might also think of putting to your client could include:

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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