Several industry players discuss changes to their businesses and if they will stay
This Mortgage Choice broker recently fought to refinance his client and keep her in her home
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Don’t be afraid to ask your BDMs questions, says Denya Dean.
The business development manager for Bluestone believes listening is one of the most important attributes a BDM can have – something she is committed to when it comes to communicating with brokers.
MPA spoke with the winner of Best Non-bank BDM at last year’s AMAs about the challenge of COVID-19 and the reason brokers shouldn’t stay silent throughout this turbulent time.
Challenging times in lockdown
As a self-confessed “social butterfly,” that thrives on personal engagement and face-to-face interactions, the COVID-19 lockdown has proved a challenge for Dean.
“The recent lockdown period has been tough,” she says.
“I’m not sure about everyone else, however, I am definitely over the Zoom chats already!”
She says she is looking forward to getting out on the road again and picking up pace during her work day.
The importance of connecting
With brokers also facing their fair share of challenges during the pandemic, Dean says it is important to stay in contact with others in the industry.
“Some of us will need some time to adjust to the new market – so don’t be shy when it comes to reaching out with questions, scenarios or to just have a yarn,” she says.
“The worst thing we can do right now is go quiet – which is very easy to do in such an autonomous role.”
This is particularly important when it comes to ensuring a loan application’s best chance at approval.
Dean says brokers shouldn’t hesitate to reach out with any questions regarding lender policy or client scenarios, adding that the worst thing a broker can do is make assumptions.
“Lean on your BDMs!! We are here to help and make sure that our product, policy and market knowledge are as up to date as possible.”
“Things are changing quickly and often, and the call to your BDM is the most important step towards a 100% strike rate.”
She adds that effective communication will be particularly important moving into the new era of Best Interest Duty.
“The most important role as a lender BDM is to keep brokers abreast of changes to processes and policies and to provide ongoing broker training in light of BID.”
Tips for keeping up momentum
When it comes to working in a demanding role, Dean says it helps to remember that energy is contagious.
“In sales it is easy to feel like you can be in a pressure cooker,” she says.
“I believe in order to give the best possible service you need to have a consistent rhythm to ensure your batteries don't run low.”
While she looks forward to getting back to the office and doing face-to-face meetings again, there is one thing about the pandemic she hopes will stay the same.
“I hope smart casual will be socially acceptable post-COVID,” she jokes.
“I'm getting used to not wearing corporate attire every day!”
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