YCM has been working with many new entrants to the industry over the last 2-3 years. Those we meet aren’t necessarily ‘young’ but they are ‘young’ in the world of finance. What we LOVE is that they are full of optimism, enthusiasm and open to ideas. AND they work hard. What can we ‘veterans’ of the industry learn from our new colleagues?
I’d like to introduce to you Carl Violeta from Violeta Finance.
I met Carl last month at an AlphaBroker Mentoring (mentee) PD day. Carl was recognised as the top achiever for the year so I was interested to find out what made him tick. What does he do that is different to other new entrants (AND existing brokers)? How can we all learn from this motivated and energetic young man?
Carl has been a broker for under 2 years and is nearing completion of his mentoring. He worked full time running a sales agency in the rag trade during his first 12 months – he spent that year learning about the finance business and what he needed to do to become a GREAT broker. In the second 12 months he developed his ‘sales system’ and is now enjoying the lucrative and personal benefits of being a broker.
“My career change was triggered by events in my previous business in 2013. My clients were closing their premises. It was becoming harder to service clients. I could see the business was not sustainable long term so I started looking for other business opportunities and came across mortgage broking.”
Your biggest challenge entering the finance industry?
It was really hard running another business while trying to learn and build a mortgage broking business. There was a lot of after hours’ activity and weekend commitments in my first year just to keep up.
If you had your time again, what would you do differently?
Bite the bullet and jump right into it full time. I did this in February 2015 and I wish I had done it earlier. With 100% focus on your broking business you build momentum a lot quicker and see results sooner. When you commit to full time, you can build the relationships you need to gain referrals and respond to emails and calls in a timely manner. Overall you present better as a broker and that’s important.
What stopped you from doing this sooner?
Cash flow. I had to make sacrifices when I decided to go full time. I didn’t have an established pipeline or any referral partners and I really didn’t know the finance industry that well so I was very apprehensive. When I decided to just do it, from then it was full steam ahead.
So what did you do differently?
February was good timing for me – it all fell into place. I joined a 28 day challenge with my mentee group to meet one new person every day. It was really hard but through that challenge I met an accountant with a shop front. She asked me to move in to her office so I left my home office and did so. I did lots of networking and met many people including real estate agents (now some of my biggest referrers), solicitors and conveyancers. I worked hard, got my name out there and went to many open houses on weekends. I usually get 1-2 good leads on a Saturday.
Carl, most brokers tell me you can’t work with real estate agents. What would you like to say to them?
For me, success came from targeting smaller boutique agents. They were similar in age and attitude to me in regards to customer service and helping people. Other agents just selling product would end up stuffing me around and wanting me to work onsite and get leads FOR THEM. I’m into adding value to the client – not just selling them something.
Having a record month in November, what was the real key to your success last year?
It was 2 main things really:
- Just getting out and meeting people. Get out of the office was my mantra. You don’t meet people sitting at your desk waiting for the phone to ring. I’ve participated in a few community events, sponsored a local dance school open day and handed out lots of balloons (with my business name on it) to many kids. I’m a big fan of charity.
- Consistency and discipline. I consistently attended open homes, meeting 50-100 people every Saturday. These people were all future prospects for home loans. Some already had pre-approvals or were using other brokers but many still didn’t know how much they could borrow or even the process of borrowing money.
The Melbourne market kicked into gear after winter with more buyers in the market. I also attended auctions and was disciplined in my commitment to meet new people every day – I consistently meet at least 300 new people per month. I’m not only getting leads for now but also for the future. There are many facets to being a broker but you can’t write business without meeting new people. I love talking to and helping people. If you can do that, the sales will automatically follow.
Any final tips for our readers?
Outsource what you’re not good at.
(YCM likes that one!)
Get some affiliate partners to help you with referrals.
Focus! Get out of the office.
What an outstanding example of what it takes to succeed as a broker. I think there is a lot for ALL of us to learn from your story. Thank you for sharing Carl. Congratulations! We look forward to seeing your name up there in the industry awards.