Top Advisor Levels: 30+ per month
Minimum Expected Levels: 10 per month
If you don’t shoot you don’t score! Advisors at the top of the tables handle regular flows of the same types of enquiry, and say this is key to their success.
- Handle a decent volume of enquiries
Those who take on regular volumes are the ones who write regular business. Some advisors get caught up in the paperwork and admin of processing applications and neglect to keep an eye on the incoming flow of new business. Then, when they realise all their cases are up to date find that they’re suddenly quiet, and jump back into taking loads more enquiries at once. This creates a cycle of focusing on new business or focusing on admin. This Ebb and flow can impact your month to month pipeline as well as your ability to handle all your new customers at the same time, and can have adverse effects on customer service. Avoid, as best you can, getting bogged down with admin to the forfeit of new business, and take on a more regular volume of new business.
- Stick to your niche
If you know your customer niche inside out, you can establish eligibility and lender options on the initial call, without the need for loads of research – This should really be the goal for any advisor. Managing your time in this way means you can handle more enquiries, and waste less time on those you’d never be able to help (of course still putting these into the FCR!).
- Work backwards from banking figures
What do you want to earn this month and this year? Some will have more ambitious goals than others, but with the opportunity available in the current market, and an AMAZING supply of quality enquiries from OMA, you can write your own cheques.If this figure is, say, £100k, then establish your average case size and conversion rates. If you earn say 30% of gross commission, then to bank £100k this year you need to write £333k. So, if you’re writing £3k cases and convert @ 15%, you need to complete on 111 mortgages in the year, and handle 740 enquiries. This means 61 enquiries per month, which is an average of 2 enquiries per day.
To do this on fewer enquiries, you need to convert more, or have a higher case size.
Increasing case size to match some of the top advisors @ £3,500 @ 15% conversion is 95 mortgages a year, which is 630 enquiries, 52 a month, 1.7 a day.
Increasing conversion to match some of the top advisors @ 25% and an average case size of £3,500 is 95 mortgages a year, from 380 enquiries, 31 per month, 1 per day.