Just wanted a bit of feedback from brokers.
What is most important? eg: service, contactability etc
Do you like a BDM to be hands on and know all about the deals you’ve submitted.
Any other suggestions/feedback will be much appreciated.
Kerri
State Manager
0425 358 293Wholesale Mortgage Lender that deals only with brokers.
20 years in Finance Industry
I don’t expect them to know about all the deals submitted as they deal with a lot of other brokers.
I expect them to be:
– contactable when needed and initiate contact on a regular basis
– knowledgeable regarding processes and products
– good teachers
– prompt to act when problems arise
– providers of tools, regular product updates and industry updates
– representative of broker concerns to the lender
– confident
– realistic
– positive
– business minded
– understanding of broker concernsThat is about all I can think of right now.
Robert Bou-Hamdan
Mortgage AdviserThe main thing is someone who responds -whether to emails or returns calls. When they don’t we tend to go elsewhere.
It is also good when they can drop around and see brokers every few months.
Terryw
Discover Home Loans
Mortgage Broker
North Sydney
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
I remember dealing with a Commercial BDM and ended up not using him because you could never get him on the phone and if you left a message, if he did actually return the call, it would be a bout a week later. So guess who didn’t use the BDM after putting up with that a couple of times.
I have a fortnightly calling program and sometimes if I’m near their office, I will just pop into say hello. The brokers that I look after who are interstate, get a call from me at least once a fortnight. If there are any product changes/updates, I email my brokers straight away to let them know.
State Manager
0425 358 293Wholesale Mortgage Lender that deals only with brokers.
20 years in Finance Industry
Big Dirty Mother
BonDage Master
BDM HMMM…?
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorBDM = BUSINESS DEVELOPMENT MANAGER (aka Relationship Manager (RM))
Robert Bou-Hamdan
Mortgage AdviserBDM aka Brochure Delivery Man
but more seriously, a bdm has to be able to make a difference – promising the world and delivering an atlas really doesn’t cut it.
i really find it necessary to have confidence in the lender behind the bdm – if my clients get substandard service post settlement it will reflect on me – not interested in this sort of outcome.
and when running a scenario – saying NO is a good thing, just do it quickly so i can move on and place the loan somewhere else.
returning calls, emails, contactability etc is simply ‘business practice’ – if its not appropriate than i can only reiterate Terry’s words.
and importantly, bdm’s need a very good expense account or at least a corporate box at the ‘gabba – he he, just kidding…
cheers
brahms
Purveyor of Fine Finances
aka Mortgage Broker Brisbaneyou never returned my email rob.
thought that would be in your job description.
“financial freedom is freedom”-“my freedom is freedom to do what my heart desires when it desires”
If any of you brokers needs a fantastic contact at nab, let me know. She’s based on the Gold Coast, but will deal with brokers all over australia.
State Manager
0425 358 293Wholesale Mortgage Lender that deals only with brokers.
20 years in Finance Industry
Originally posted by Rodsway:you never returned my email rob.
thought that would be in your job description.
What email would that be Rod and when was it sent? Are you certain I didn’t respond and you just never received it? I hear a lot of people have problems with junk email filters. I always answer my emails as many here can verify regardless of the contents.
By the way, I am not a BDM (YET!!!)
Robert Bou-Hamdan
Mortgage AdviserYes, ability to contact & return calls. Plus a real desire to sort out issues/problems/mistakes when they arise. Only 2 things that have to be good at.
Cheers
Stu
Originally posted by redwing:BonDage Master
The middle letter would be for “Discipline”
Terryw
Discover Home Loans
Mortgage Broker
North Sydney
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
An interesting article appeared in Australian Broker which I received today. It is about BDM’s or RM’s and what they dislike about brokers. It comments about:
– Repetitive or stupid questions
– Incomplete enquiry forms
– Not being contactable
– Requests for marketing support
– Mass e-mailing, then going with the competitor
– Providing insufficient informationI found the article rather amusing especially the not being contactable problem.
Anyway, it is good to get both sides of the story.
Robert Bou-Hamdan
Mortgage AdviserOriginally posted by Rodsway:you never returned my email rob.
Just to address this again…
I received an email from you on Saturday 30/04/2005 at 1:14 am. I responded on Saturday 30/04/2004 at 1:54 am according to my records. Would you like proof? Did you not get my reply?
Considering the day (night) and promptness of my response, I think I did pretty well. I did a search and have received no further correspondence from you.
Robert Bou-Hamdan
Mortgage Adviserthats really weird because i sent it, maybe it didnt go through or something, ill see if its in my sent folder and send it again.
Thank you“financial freedom is freedom”-“my freedom is freedom to do what my heart desires when it desires”
I think it may be an email problem at my end. I have been doing a load of work on a new website and my old website over the last few weeks. My email addresses are all redirections from a hosting company. I have had to change these a few times in the last few weeks and probably lost some emails (not sure). A good way to know if someone receives your email is to send a ‘read request’ with each email. Another way is to ask them (privately).
Robert Bou-Hamdan
Mortgage AdviserI apologise for this Rob. I should have tried to contact you another way before assuming you were ignoring me or something.
Sorry again
Rod
“financial freedom is freedom”-“my freedom is freedom to do what my heart desires when it desires”
No problem. I will try to respond to your latest email tomorrow.
Robert Bou-Hamdan
Mortgage Adviser
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