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Richard Angliss. Home Buyer Systems The ‘Next Generation’ Sourcing System. HBS Sales Training. Objectives. How To: Build a Genuine WoM business Attract new business and Lead Generation To successfully charge fees Provide an Admin service

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richard angliss
Richard Angliss

Home Buyer Systems

The ‘Next Generation’

Sourcing System

slide2

HBS Sales Training

Objectives

How To:

  • Build a Genuine WoM business
  • Attract new business and Lead Generation
  • To successfully charge fees
  • Provide an Admin service
  • Retain customers and get Insurance business
slide3

HBS

Post Credit Crunch Problems

  • Direct Products more competitively priced
  • Potential customers using Comparison sites
  • 12% Products are Intermediary over 75% LTV
  • Lenders not supporting Intermediary distribution
  • Finding cannot place 70 – 80% of new enquiries
  • If cannot place mortgage don’t get insurance
  • Can they still meet FSA “Independent” criteria?
slide4

HBS

Evidence of Problems

Home Buyer Sourcing Index (HBSI)

Second Time Buyer - Intermediary Products Available by LTV

slide5

HBS

Evidence of Problems

Home Buyer Sourcing Index (HBSI)

Second Time Buyer - Price Difference by LTV

slide6

HBS

Post Credit Crunch Solutions

  • Pre Credit Crunch Proc Fees meant did not have to “sell” mortgage advice
  • Post Credit crunch Proc Fees largely gone or reduced – Possibility RDR remove altogether
  • Mortgage sourcing has to become a “mortgage sales process”
  • A process that allows you to earn at least as much per case as you did Pre Credit Crunch
  • More emphasis on Insurance sale – like in 80’s
slide7

HBS

Features of Post Credit Crunch Process

  • Reinvent total approach to customers
  • Sourcing from WoM
  • Use Intermediary v Direct Comparison to ensure income – Customer or Procuration Fee
  • Devise strategy for earning income from aiding with application
slide8

HBS

The Story 12 Months On

  • In Last 12 Months Built sales Process which Includes:
  • A unique Fee Justification tool
  • Online Factfind Invite
  • Marketing tool
  • Facility to take fees by Credit or Debit Card
  • Admin system (MI Zone)
slide9

HBS

How is HBS Being Used

  • Checking Direct Deals before recommending Intermediary product
  • Fee based Research Service (£99 to £250)
  • Research and Recommendation/Application – if product Direct charging fee (0.25% to 1%)
slide10

HBS

What Challenges Does This Present?

  • Charging Fees
  • Lenders will not deal with you on Direct Products (starting to see a softening on this)
  • How do you stop customers getting your advice for free and then going direct?
  • How do you demonstrate you can help with the application
slide11

HBS Sales Process

Approach

  • All sales depend on “Approach” – how you set it up with customer
  • Need to be well rehearsed – need to practice the “Approach”
  • Need to identify the different possible outcomes and have answers
  • People buy people so need to be confident – a confident attitude wins customers
  • Hard work on Approach now is an investment in the future of your business – so practice will pay
slide12

HBS Sales Process

Approach (cont)

  • Suggested approach:
  • Lenders have 2 channels for selling their products. Directly (i.e Branches, Telephone, Internet) or via Intermediaries
  • Most Mortgage Brokers only offer Intermediary products I source both
  • Lenders that have Intermediary products pay a fee to Brokers to subsidise the cost of people getting advice from them (aka a Proc Fees)
slide13

HBS Sales Process

Approach (cont)

  • Suggested approach:
  • I will take your details and ask you some questions to enable me to find the most appropriate products for you
  • Then I will produce an analysis that will allow you to decide what is most attractive to you
  • Once you have decided which product you would like to apply for I can support you through the application process
slide14

HBS Sales Process

Approach (cont)

  • Suggested approach:
  • 4 Submission routes to lender
    • Branch
    • Telephone
    • Internet
    • Intermediary
  • Branch – Coach, prepare, refuse Insurance
  • Tel – Same as Branch but you can be present
  • Internet – You can do this from factfind
slide15

Mortgage Sales Process

Source Without Lenders Named

slide16

Mortgage Sales Process

Source Without Lenders Named

slide18

Mortgage Sales Process

Get Customer To Decide On Fee

slide19

HBS

Get Customer To Decide On Fee

  • The Analysis shows which option is cheapest
  • At lower LTV’s and larger loans Intermediary products can be cheapest
  • Mainly it is Direct products though
  • Give customer choice – pay fee and make saving or don’t pay fee (or lower fee) and have Intermediary product
  • Or base fee on percentage of saving (say 25%)
slide20

Mortgage Sales Process

Get Customer to Agree To Admin Service

slide21

Mortgage Sales Process

Get Customer to Agree To Admin Service

slide22

Mortgage Sales Process

Use Conveyancing To Enhance Fees

slide23

Mortgage Sales Process

Credit/Debit Card Taking Facility

slide24

Mortgage Sales Process

Credit/Debit Card Taking Facility

slide25

Mortgage Sales Process

Credit/Debit Card Taking Facility

slide26

Mortgage Sales Process

mi-Zone Admin Service

slide27

HBS

mi-Zone Admin Service

  • Provides an online collaboration service with customer
  • Creates an e-mail address that the system uses and is given to lenders on Application
  • This means all correspondence can be seen here by both Advisor and customer
  • Advisor responds to correspondence customer can check this and progress by logging in
  • Other documents can be attached
slide30

Mortgage Sales Process

Marketing Tool – Which? Report

slide31

HBS

Lead Generation

  • Finding many Estate Agents have lost Mortgage Advisors – open to talk especially to someone who can prove can place more business
  • Even for Estate Agents with a Mortgage Advisor our customers are asking for what they can’t place
  • Same as for Estate Agents but New Builds
  • Some of our customers posting an analysis through doors of houses for sale
slide32

Mortgage Sales Process

Factfind and Research

slide33

Mortgage Sales Process

Factfind and Research

slide34

Mortgage Sales Process

Factfind and Research

slide35

Mortgage Sales Process

Screen to Screen Selling

slide36

HBS Lite

In Summary

  • Post Credit Crunch Sales Process
  • WoM sales strategy required
  • Reinvention of whole approach
  • Remuneration model to be more fee based
  • Sale of insurances key to success – like 80’s
  • Allows you to promote yourself as “Independent”
slide37

HBS Lite

What’s In It For You?

  • People need Advisors as much as they ever have - finding right approach will bring rewards
  • Competition dwindling as old approach does not work anymore – AMI expect Advisor numbers to fall to 12,000 from high of around 40,000
  • This approach will never leave you at the mercy of the lenders ever again
  • Potential to find new introductory sources, Estate Agents, IFA’s that don’t do mortgages, Builders
slide38

HBS Lite

What Do Fellow Professionals Say?

“The mortgage market has changed, probably for ever, and it is no use using tools developed for yesterday\'s market to survive and prosper today.

HBS is a system designed to help the adviser prosper in today\'s climate.

We want to provide our advisers with a tool which will put them in a strong position with clients regardless of any future changes in distribution which may occur and I believe HBS does just that.”

Mark Banfield (MD) – AFP Mortgage and Protection

slide39

HBS Lite

Case Study – Customer Details

  • Advisor: Neil Soundy
  • Company: Neil Soundy FS
  • Customer: First Time Buyer
  • Loan Required: £132,000
  • LTV: 90%
  • Property Value: £146,667
  • Recommended by previous Advisor - 5yr 7.25% Fixed with RBS
slide40

HBS Lite

Case Study – Sourcing

slide41

HBS Lite

Case Study – Sourcing

slide42

HBS Lite

Case Study – Comparison

slide43

HBS Lite

Case Study – Results

  • Recommendation: RBS 5.99% 5yr Fixed
  • Advisor Fee: 0.3% (£396)
  • Saving on Set up: £999 (no Arrangement Fee)
  • Monthly Saving: £144.81
  • Total Saving (5yrs): £8688.38
  • Plus Life and B&C commission - £1600
  • Total Earnings: £1996
home buyer system
Home Buyer System

A TOTAL SOLUTION

FOR THE REGULATED

GI & MORTGAGE MARKET

The Next Generation

Sourcing System

home buyer system1
Home Buyer System

Pricing For New Services

  • Sales and Marketing Process £5
  • mi-Zone  £10
  • mi-Zone Introducer £10
  • mi-Zone Introducer Unlimited £30
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