How can mortgage brokers generate more revenue?

Mortgage brokers typically have limited options to increase the revenue they generate from each transaction. In this article, one of four focused on overcoming the top four challenges faced by mortgage brokers, we will discuss how mortgage brokers can be equipped with the ability to generate more revenue while saving their clients time and money.   

Why is revenue generation a challenge for mortgage brokers?  

Generating sustainable and consistent revenue is a key priority for mortgage brokers. There are, however, two main barriers preventing brokers from maximising their revenue potential, however:  

  1. The revenue-generating opportunities for mortgage brokers recommending a conveyancer are limited, typically to a single fixed fee, and  
  1. Mortgage brokers lose many hours of working time each week chasing matters and following up on transactions when they could be arranging new mortgages for clients.   

So what’s the solution?  

There could be many ways to look at combatting this problem. But one way would be ensuring that the suppliers that you partner with are as invested in your success as you are.   

By partnering with a provider that offer additional services to conveyancing, brokers can future-proof their income even further. In addition to conveyancing services, mortgage brokers can generate regular additional income by offering surveys, home insurance and wills.   

The daily reality for mortgage brokers is that too much time is spent dealing with other matters that could be used to generate revenue, and when recommending conveyancers, the revenue potential is often limited. Optimus overcomes both by providing a) a customer service team that understands the needs and language of mortgage brokers and b) a range of additional services, and hence the opportunity to make additional revenue. When it comes to revenue generation, joining Optimus is truly a win-win opportunity. More money and happier clients.  

To find out further insights and recommendations on how to overcome challenges and get paid quicker, download our guide.  

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