Converting AIPs to Apps – Are Your Cases Progressing?

Top Advisor Levels: 90%+
Minimum Expected Levels: 80%+

Some brokers are great at signing customers up to AIP stage, and fall over when progressing things forward to full application.

 

  • Are your stats up to date?
    For some this is merely an issue in updating system info accurately, simple one to fix – get them updated as soon as you submit the case!!!
  • Are you getting customer buy-in?
    It may be that they are proceeding with someone else. Have they got another broker or gone direct? This depends a bit on your sales process. If you do a lot of work upfront and give them the lender name, it’s more likely. Equally if you AIP before taking a fee, savvy customers may check their credit file for the lender.A solution is to try charging upfront, even if a just small amount of your overall fee. This way the customers you progress have bought in enough to give you some cash, and are likely to only be using you.
  • Have you told them not to speak to the Estate agent broker?
    Illegal, but a lot of agents force buyers to see their advisor. Let your customers know this is not a requirement, and to tell the agent they already have their mortgage approved – and if they have any questions about this give them your contact details!
  • Are you managing expectations?
    For others, this may be down to how the sales process was positioned on the initial call. Does the client know they have an AIP? Do they know what to do next? See time bridges…

The Time bridge

This is the philosophy of never leaving a customer without an agreed time to speak again. Once you have spoken to them for the first time, set up the day and time of the next call before you put the phone down; When you have given them figures and they want to talk about it before proceeding, set the exact time you’ll call them back… even when the mortgage has completed, they should have a time bridge agreed and arranged for 18 months when it’s time to re-write.

 

 

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