ISSUE 12 September 2012 T: 1300 656 922 ABN 66 138 789 161 In this edition • Welcome • Vow National Conference 2012 • Vow Commercial • Vow Legal • Industry Focus (Scott Erickson Adelaide Bank) • Investing in New Staff Members • Up close (Lawrence Toledo – JL Finance & Green Funding) • Quick News Upcoming Events Product Training Days September 20 – Brisbane September 25 – Sydney October 2 – Melbourne Vow Academy Webinars September 13 – Getting More Repeats and Referrals Business National Conference October 24-26 – Phuket, Thailand Ponder this... “Your most unhappy customers are your greatest source of learning.” – Bill Gates. It’s been another challenging year to say the least. We started the new calendar year with such optimism, especially after such a strong finish to 2011. How quickly this changed within the first few months of 2012. Most of the negative news continues to come out of Europe and this has continued for most of 2012 and I see no magic solution for the financial woes of the Mediterranean countries, which includes Greece, Italy, Spain and Portugal. The austerity measures the rest of Europe are trying to enforce are not unreasonable, as all they are asking is for those countries that are in trouble to live within their means. But you can imagine if successive governments had not done this for the last 40 years it will take time to change. In Australia we are going through similar changes, especially around credit. It became so available and easy to get we forgot what it used to be like in the 70 s before deregulation of the Banking market when genuine savings was a 20% deposit to buy a home and not the 5% most banks seem to be happy with today. While we are not rationing credit the ease of obtaining funds has certainly reduced since 2008. It never ceases to amaze me that in difficult economic environments how many good brokers are able to go against the trend and outperform the market. Vow seems to be blessed with many of these brokers as Vow continues to grow market share. We have a number of exciting initiatives happening over the coming months which I will share with those in more detail at our Product Days. - Launch of Vow Commercial - New Pooled Professional Indemnity Insurance - Adverse Credit referral opportunity - Lead Generation - Brand Creation - Ongoing expansion of all our other Vow Product offerings This will continue to help brokers expand their revenue lines while improving their customer retention. And let’s not forget the value this will add to your overall business. The conference is not far away and for those who have not booked there are still some fabulous flight and accommodation deals to Phuket. The ability to get away and spend time on your business is crucial for any broker who wants to take their business to the next level. The opportunity to listen to speakers who have built successful businesses and network with your peers in a relaxed environment is rare and should not be missed. For those that are keen should talk to your BDM who will help you get registered. Welcome to the 12th issue of the Voice… WELCOME Tim Brown CEO - Vow Financial A regular publication from Vow THE VOICE
7
Embed
THE VOICE - Vow Financialyour deal! Purchase Sale. Queensland $ 800.00 $ 600.00 New South Wales/ACT $1,200.00 $ 800.00 Victoria $ 800.00 $ 600.00 Western Australia $ 1,200.00 $ 800.00
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
Transcript
ISSUE 12 September 2012 T: 1300 656 922 ABN 66 138 789 161
In this edition•Welcome
•VowNationalConference2012
•VowCommercial
•VowLegal
•IndustryFocus(ScottErickson
AdelaideBank)
•InvestinginNewStaff
Members
•Upclose(LawrenceToledo–
JLFinance&GreenFunding)
•QuickNews
Upcoming EventsProduct Training Days
September20–Brisbane
September25–Sydney
October2–Melbourne
Vow Academy Webinars
September13–GettingMore
RepeatsandReferralsBusiness
National Conference
October24-26–Phuket,
Thailand
Ponder this...“Yourmostunhappycustomers
areyourgreatestsourceof
learning.”
–BillGates.
It’sbeenanotherchallenging
yeartosaytheleast.We
startedthenewcalendar
yearwithsuchoptimism,
especiallyaftersuchastrong
finishto2011.Howquickly
thischangedwithinthefirst
fewmonthsof2012.Mostof
thenegativenewscontinues
tocomeoutofEuropeand
thishascontinuedformost
of2012andIseenomagic
solutionforthefinancial
woesoftheMediterranean
countries,whichincludes
Greece,Italy,Spainand
Portugal.Theausterity
measurestherestofEurope
aretryingtoenforcearenot
unreasonable,asalltheyare
askingisforthosecountries
thatareintroubletolive
withintheirmeans.Butyou
canimagineifsuccessive
governmentshadnotdone
thisforthelast40yearsitwill
taketimetochange.
InAustraliawearegoing
throughsimilarchanges,
especiallyaroundcredit.It
becamesoavailableandeasy
togetweforgotwhatitused
tobelikeinthe70
sbeforederegulationofthe
Bankingmarketwhengenuine
savingswasa20%depositto
buyahomeandnotthe5%
mostbanksseemtobehappy
withtoday.Whilewearenot
rationingcredittheeaseof
obtainingfundshascertainly
reducedsince2008.
Itneverceasestoamaze
methatindifficulteconomic
environmentshowmanygood
brokersareabletogoagainst
thetrendandoutperformthe
market.Vowseemstobe
blessedwithmanyofthese
brokersasVowcontinuesto
growmarketshare.
Wehaveanumberofexciting
initiativeshappeningoverthe
comingmonthswhichIwill
sharewiththoseinmoredetail
atourProductDays.
- Launch of Vow Commercial
- New Pooled Professional Indemnity Insurance
- Adverse Credit referral opportunity
- Lead Generation
- Brand Creation
- Ongoing expansion of all our other Vow Product offerings
Thiswillcontinuetohelp
brokersexpandtheirrevenue
lineswhileimprovingtheir
customerretention.Andlet’s
notforgetthevaluethiswill
addtoyouroverallbusiness.
Theconferenceisnotfar
awayandforthosewho
havenotbookedthereare
stillsomefabulousflight
andaccommodationdeals
toPhuket.Theabilitytoget
awayandspendtimeon
yourbusinessiscrucialfor
anybrokerwhowantstotake
theirbusinesstothenext
level.Theopportunitytolisten
tospeakerswhohavebuilt
successfulbusinessesand
networkwithyourpeersina
relaxedenvironmentisrare
andshouldnotbemissed.For
thosethatarekeenshould
talktoyourBDMwhowillhelp
yougetregistered.
Welcometothe12thissueof
theVoice…
WELCOME
Tim BrownCEO - Vow Financial
A regular publication from VowTHE VOICE
VOW NATIONAL CONFERENCE 2012- 7 Weeks To Go!
OurNationalConferenceisbeingheldon24-26Octoberattheaward-winningfivestarJWMarriottResortandSpa.Thehotelissituatedon11hectaresoflushtropicalgardenswithswimmingpools,freshwaterpondsandnaturalpreservedcoastalwetlandsoverlookingthebeautifulMaiKhaoBeach.There are already 130 delegates confirmed and a great line up of speakers, events and networking opportunities.
Registrations will be closing soon,tobookyourticketpleasegotowww.VowConference.com.au.FormoreinformationabouttheconferencepleasecontacteitheryourVowBDMorTaraDavorenon0282984888.
A regular publication from VowTHE VOICE
T: 1300 656 922 ABN 66 138 789 161ISSUE 12 September 2012
We look forward to seeing you in this tropical paradise!
www.vow.com.au
What are the prices for Vow Legal?
# Please note that prices do not include GST, search fees and outlays. They are based upon a standard residential contract with a contract price of $1.5 million or less.
Get referring! Go to www.VowLegal.com.au
THE VOICEA regular publication from Vow
VOW LEGAL
VOW COMMERCIAL
“Our Vision is founded on the original reasons why Vow was established. To be different, to help brokers achieve their goals, and to make them successful financially. If we have achieved that then the financial success of the company will be assured.”
How Does Vow Legal Work?Overthepastdecadetherehasbeenanincreaseinthelevelofcomplexityandskillrequiredtocompleteapropertytransaction.VowLegalensuresthatwhenyouarebuyingorsellingahouse,unitorland,yourrightswillbeprotectedandwemakesurethateverystepofthetransactioniscompliedwithaccordingly.Althoughnotforallclients,VowLegalworkswellwithyoursavvyinvestorwhodoesn’tneedtomeetfacetofacewiththeconveyancer.
VowLegalhasreceivedhundredsofconveyancingandotherlegalservicesfromtheVowFinancialnetworksincelaunchlatein2011.Vow Legal pay 22% commission to a referring broker within the Vow network. All of the referral is done online – just go to www.VowLegal.com.au or call 1300 781 215.
Go to: www.VowCommercial.com.au to find out more information on how it works and to lodge your deal!
Purchase Sale
Queensland $800.00 $600.00
NewSouthWales /ACT $1,200.00 $800.00
Victoria $800.00 $600.00
WesternAustralia $1,200.00 $800.00
Tasmania $900.00 $600.00
NorthernTerritory $1,200.00 $900.00
T: 1300 656 922 ABN 66 138 789 161ISSUE 12 September 2012
What was your New Year resolution? Thesameoneit’sbeenforacoupleofyearsbutneverthelessIachievedthemilestoneofhavingmylastcigaretteonFeb28that1.29pm.JustasIwaswalkinginthedoorofthehypnotist!AndnoIdon’tbarklikeadogwhensomeonesaysthemagicword!
What was the last book you read? DigitalFortressbyDanBrown.
What CD is currently in your car stereo? Train,SavemeSanFrancisco.
If you weren’t working in the mortgage and finance industry what would you like to be doing? I’dmowlawns.Wouldlovetohaveajobthatisinfluencedbytheweather.Rolloverinthemorning...lookoutthewindow…rollbackoverforanotherfewhours!
What are the big issues facing the mortgage broking industry in the next two years? Complianceandworkingtowardsbeingrecognisedasaprofessional.
What was the first job you ever had? ItwasalongtimeagobutIdoremembermyfirstshiftatMcDonalds.Ihadtocleangherkinsoffthewindowthatmybrother’smateshadflung!
What is your favourite movie?LoveShawshankRedemptionandtheGodfather.ButalltimefavouriteisSilenceoftheLambs.
What drives you? Thewifedriveshomealways.It’sonlyfaircauseIdrivethere!
What do you drive? Myfamilymad…andthenIgetintomyMazdaCX7!
How do you unwind? Iusedtobeundertheillusionthatgolfwasagreatwaytorelax.ButthenIworkedouttheolderyougettheclosertheballistoyou.CookingandaredwinehavetakenovernowandIhavethebellytoproveit!
Where is your next holiday destination? HeadingofftoHamiltonIslandsoonforourfriend’swedding.Itwillbenicetobethereforaweekwithoutitbeingforaconference.
Industry OutlookAsclichédasitmightsound,changecontinuestobetheonlyconstantinthebrokerindustry.Adecadeofmassivecreditexpansionfollowedbyarunintheoppositedirection,commissionsincreasinglikeclockworkandthen-oneday-30%offthetop,morefundersthanonecanpokeastickatoneminute,fourflavours
INVESTING IN NEW STAFF MEMBERS – Some Tips & Tricks
Here are some of the many techniques for hiring great staff:
One hour of good recruiting is worth hundreds of hours of trouble later-Sospendyourtime,checkreferencesandhirewisely-“Hireinhasterepentatleisure”.Avoiddesperationhiring.
1
Avoid selling them the job – Instead paint it black!-Tellyourcandidateshowyourunadisciplinedworkplace,beupfrontaboutyourhouserulesandclearonyourexpectations.Goodleadersuse‘toughlove’–asteelfistinavelvetgloveapproachanditworks!
The team is a reflection of the mindset of the boss-PoorLeadershipbehaviourlosesgoodstaffandanegativeattituderepelsgoodapplicants.Don’tpickapplicantsyoureallydislike.“Yougetthestaffyoudeserveandyougetwhatyouputupwith.”
2
If you can’t attract decent applicants, rewrite your ad, advertise more widely or overhaul your workplace culture.Remember,“Achoiceofoneisnochoice–don’thirethebestofabadbunch”
34
5
6
7
8
Pick the best applicant for the role–IfyouwantHighperformersandleadersthenyoumaywanttochooseaPhD–thePoor,hungryandDriven–manycomingfromoffshoreatthemoment–however,somehighperformersareunstableandonlylastashorttime.
Hire for work ethic-OnelargebankIknowprefersleadersthatarefirstbornchildrenofimmigrantfamilies.Sometimesa“solidfollower”ismorestableinthelongrunthanaprimadonna.Learnaboutbehaviouralprofiling(DISCanalysis)byaskingMattMitcheneratVow.
Most people make promises, tell lies and embellish the truth in job interviews-Thebestindicatorofagoodemployeeistheirperformanceinthefirst90days.Thisisthebestbehaviouryouarelikelytosee.Iftheyaren’tright,admitdefeatandterminateinsidetheprobationperiod.“IfinDoubt–Chuckemout”andalwaysdoreferencechecking.
Provide a great induction and training-Youarepayingtotrainyourstaffonthejobanditcostsyouthetimeofthenewone,theirstaffbuddyandtheimpactofmistakesonyourclients.Getyouacttogether,createatrainingprocessandrunaninductioncourselike“90daystogreatness”.
For more ideas and advice on building your team email [email protected]
How did you get into mortgage broking? Igotintobrokeringthroughafriendofmine.Wegraduatedfromhighschoolin1999andIwentontostartadualbusinessmanagement/commercedegreeatUQ.Hegotintorealestateandayearlaterwecaughtupagain.Duringthecatchuphesaidtogetintofinance.Iaskedwhyandheshowedmehistaxreturnforthepreviousyearwherehemade$177,000inrealestate.IdecidedthenthatIshouldmakeacareershiftandgotintofinancesixmonthslater.
What’s the key to success in the broking industry? Ithinkthekeystosuccessinthebrokeringindustrywillbethefollowing:abilitytobuildrapportandrelationshipswithcustomersandreferrersandlenders,industryknowledge,workingharderandsmarter,proficiencywithloanprocessing,goalsettingandbackingyourselfthatyoucanmakeitwork.
Describe your approach to business in five words. Liquidity,profitability,growth,relationshipsandsystems.
What changes have you seen in the industry since you became a broker?Legislationhasbeenabigpartofthechangesintheindustrysince2001,whenIstarted,butalsothereductionincommissions,andtherequirementforbrokersto
What’s great about working with Vow Financial? Theyareadynamiccompanythatworkwithyouandarelikemindedpeople.Theycareaboutthechangesinourindustryandwhatwillmakeabrokernotonlysurvive,butthriveinthecurrentenvironment.Thisisevidentwiththeotherproductsthatwecannowcrosssellsuchaslegal,equipmentloans,financialplanningetc.
How do you unwind? Iliketoreadcarmagazines,watchamovieorreadabook.
What are you watching? TheOlympics.AmwaitingforthethirdseasonofGameofThrones.
What are you listening to? IlistentotheradiowhenIhavetime,thoughIspendthemajorityofmytimeinthecarmakingphonecallsandbeingproductive.
What annoys you?Peoplewhodriveunderthespeedlimitontheroads–theyarealreadyslowenoughasitis!
What makes you happy?Spendingqualitytimewithmyfamilyandfriendsandsleepingin.
What’s your ultimate goal?Tolivealifethatwasfulfillingandadventurous.ToexperienceallIcaninlifeandlivewithnoregrets.Ibelievelifeisajourneynotadestination,sothebestthingyoucandoistomakethejourneyasbestandasall-encompassingaspossible.
If you could have any two people in the world to dinner, who would they be? MichaelJordanandKobeBryant.
Have you had a life changing moment? YesIhavehadafew.
Finish this sentence. ‘Success is findingthefuninasmanythingseveryday.
Where is your next holiday destination? USAtowatchtheNBA.
How did you earn your first dollar? IworkedatthePizzaHutCallcentretakingphonepizzaorders.
THE VOICEA regular publication from VowTHE VOICEA regular publication from Vow
UP CLOSE Lawrence ToledoJL Fincancial Services and Green Funding
Lawrence ToledoFinance ConsultantJ L Financial Services & Green Funding(QLD)