In addition to being a mortgage solutions expert, starting your own mortgage broking business involves focusing on your establishment’s administrative and branding aspects. You’ll have to don multiple hats of salesperson, IT professional, office manager and marketing specialist. The good news, though, is that you don’t have to do all this alone. By aligning yourself with a reputed mortgage firm, you’ll receive the proper support in terms of IT, office, and marketing infrastructure so that you can focus on delivering quality mortgage guidance to your clients. Here’s a look at some standard business models you can consider.

Franchise Model

In this model, you’ll get access to several benefits that can help you get your business up and running quickly in a hassle-free manner.

  • Lending panel: Instead of fulfilling the stringent requirements of different lenders multiple times, you automatically gain access to the mortgage offerings of lenders on the organisation’s panel by choosing to be a part of a franchise model.
  • Compliance support: The home loans industry is one of the most regulated industries in the country. With a good franchise model, you’ll have access to compliance experts.
  • Business planning guidance: If you are clueless about building a business plan and monitoring your progress, you’ll receive ample support and guidance from your franchise provider. In addition to customisable templates, they also offer opportunities to receive mentoring from a seasoned mortgage professional.
  • CRM: Customer Relationship Management System (CRM) is a digital and systematic approach to managing application documentation and communicating with clients.
  • Upskilling: Most franchises offer multi-format training avenues that keep you abreast of the latest industry best practices and developments.
  • Networking opportunities: Franchises organise regular events, and get-togethers offer ample opportunity for networking, peer learning and a fresh perspective on running your business.
  • Branding: You can run your business under the Franchise brand name.
  • Marketing Support: The most common form of support you’ll receive is customer leads. Good marketing support also involves laser-focused digital and local area marketing campaigns.

For a complete guide on the Franchise, model click Here.

A franchise model is an excellent option for someone looking to focus only on their core capability of offering reliable mortgage guidance and solutions.

Aggregator Model

In the aggregator model, you’ll receive all the support you get with a franchise model, except for Marketing, Branding, Business Planning and Upskilling. Therefore, the Aggregator model is a great choice for someone with an established presence that is only looking for access to a robust lending panel, a good CRM, and some rudimentary administrative support.

Mobile Franchise

This model offers all benefits of a franchise without the benefits of a physical branch. The marketing support may also require some form of payment. Since the mobile franchise model does not require a physical branch, it allows mortgage professionals to test the waters with a lower level of financial commitment.

Not sure which model is the right one for your entrepreneurial journey? Reach us for a free consultation HERE.