Simply mentoring has two parts to its business model - Both revolve around assisting mortgage brokers;
We offer a two year mentoring service to new mortgage brokers entering the industry and Email Broker Assist for existing brokers who need a guide from the side.
It is a Simple Concept – Simply Mentoring Broker Assist
Two year mentoring- All new entrants are required to have an industry experienced mentor for the first two years in the business.
Approved by the MFAA and required by ASIC; this is an intensive service and not everyone qualifies to be a part of the programme. It is about your ‘attitude’ to success. We only engage with brokers that are serious about effective mentoring, tuition and support to get their business up and running successfully.
The two year mentoring programme was born not only as a licensing requirement; it emerged from the requests from head groups and mortgage brokers when they would chat about how their business was going at various lender functions. The new broker would always say that they had shared their commission with the head group but had very little training or could not access their mentor easily. The head groups would say they had taken on new people given them support and yet they were not performing.
Clearly the picture did not match. It was apparent that though companies who took on new brokers had all the right intentions, that they were not qualified trainers and not structured to train as it needed to be. It was also apparent that the new people to the industry require continuous training and contact to keep on track and a mentor whose business is dedicated to mentoring and training and helping them get up and running correctly and effectively.
Our two year mentoring service matches this not only this need but also the membership requirements of the MFAA and the licensing requirements of ASIC for new entrants to the industry. How perfect is that?
What do we offer you?
We give you structure, support and scenario assist
We begin with helping you structure your business development plan to suit your business model and value proposition. This gives you the structure to keep you on track. From this point we have weekly contact with you to ensure that the track hasn’t moved and you are moving along it at the right pace.
We give you templates to make it easy to write your loan submissions and handouts that you can give to your customers so that you look like a seasoned professional from day one.
We give you mock scenarios to get you thinking about various situations that could come up so that you are always learning new skills not just researching loan scenarios as they come across your desk.
You will need to talk to someone all the time about loan scenarios. We are there to help you all the way with every loan that you write so that at the end of your mentoring experience you have all the tools to run an effective mortgage business.
Your first few loans are all vetted by us first to ensure that you are constructing them correctly and then we slowly release you to run solo. You only go solo when we are both confident to do so.
We are there to support you so that when you have a question about anything to do with mortgage broking; we will answer it or if it’s a tough one, we will find the answer for you.We are there by your side for two years and you can ask as many questions as many times you like – even the same question again and again if you need. That is what we are set up to do.
The important part of having an external mentor is that you choose your aggregator and you have your own business entity so that you maintain control of your business and your brand. You are not locked in to someone else’s business plan or name because you feel obligated to them.
Two years is a long time if you don’t choose the right mentor.
As an added bonus; to keep you fully supported at the end of your two year mentoring we give you one year’s subscription to email broker assist.
Email Assist
Email assist is a fantastic service designed to be a guide from the side for a working broking who doesn’t need a PA but needs an extra hand.
The more we get asked; the more we realised that brokers need more help than is currently out there.
This service fills the gap between lender training and aggregator software. You can contextualise your question to suit that individual scenario. You can ask any question and we will find the answer for you. For example; if you had a question that was specific to a postcode or a shire would your software have the answer for you? Can you ask your software a very specific question? Even the software companies agree that Simply Mentoring Email Assist is a great idea because they know that they can’t answer everything with their software.
The software that you have will always give you good start but you can’t contextualise the question; so you have a choice- call the aggregator BDM or the lender BDM.
The feedback that we keep receiving is that the lenders help lines are all stretched to capacity and the wait times can be very lengthy.
We all have different working hours in this business and sometimes when you are busy you can’t get to call a lender helpline then by the time you manage to, they may already they have left for the day. So you make a note to call them and the circle goes on until you reach frustration point.
So that is why an email assist works for busy mortgage brokers.
Email works; the request can come in anytime it suits you and then the answer can be delivered back when the answer is found. Sometimes it is a quick response and sometimes it takes a little longer because research needs to be done. Either way you are back selling loans and working ON your business and we are working IN your business. We work normal business hours but our business is finding the answers to your questions.
This is an annual subscription and you can email as often as you like. Just pay us once and we are there on email to find the answer. You can ask as many questions as you like; so long as they are on email.
