Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.
Nine Networking Tips for Brokers to Stay Front of Mind with New-Build Developers
Helen Pierson, director of MAB New Homes, has set out nine networking tips for brokers in a guest article for Mortgage Solutions. Her argument: brokers need a deliberate networking strategy, particularly in a quieter market, when site sales teams might hesitate to refer new-build buyers to their broker partners for fear of putting them off.
While the advice is aimed at mortgage brokers, the principles will be familiar territory for UK letting agents and inventory clerks whose work depends on strong, ongoing relationships with landlords, developers and site staff.
Keep Close to Your Builders
Pierson advises regular conversations with builders to keep them updated on developments in the mortgage market, but not simply firing off a list of changes. Brokers should explain what those changes mean for the builder's business. Even where a product doesn't apply to new build, she notes, it can still create a chain, so there may still be a benefit to flag.
Help Sales Advisers Sell You
Site sales teams should be equipped with phrases that sell the value of the broker's services. Rather than a box-ticking line such as "you must speak to our mortgage broker", Pierson suggests wording like "our specialist new-build broker can review what you've been offered to make sure you have the best deal", or offering a free second opinion on such a serious financial decision.
Visit in Person — and Don't Be a Nuisance
Pierson reports a spike in enquiries after visiting site sales staff in person, and recommends visiting at the builder's least busy time of day to secure their full attention. But visits must add value: if you're not bringing something useful, don't go. Be clear on your purpose, and if discussing cases, arrive armed with solutions rather than problems.
Network Smart, Not Harder
Many developers invite sales staff from across their sites to monthly or quarterly team meetings. Getting on the invite list allows a broker to brief an entire region of sales advisers in one go. Show homes are busiest at weekends, so Pierson also recommends sacrificing the odd Saturday to support site staff, bringing energy, coffees and a problem-solving attitude.
Target All Levels and Show Appreciation
Relationships shouldn't stop at site staff. Regional directors and area managers typically monitor results and often have targets for how many cases are referred to broker partners, so find out when they're due on site and be ready with relevant information. Small gestures also matter: if a lead has been passed over, Pierson suggests a personal thank-you, such as dropping by with a box of chocolates, rather than a quick email.
Manage Your Time
As networking pays off and leads flow, time for networking inevitably shrinks. Pierson recommends nurturing relationships through a mix of calls, emails and in-person visits, warning that out of sight means out of mind, so don't stay away too long.
Source: Mortgage Solutions