Mortgage advice is no longer transactional, says broker

by Ksenia Stepanova10 Jul 2018

NZ Adviser talks to Whakatane-based mortgage adviser Trish Marsden from O’Hagan Home Loans & Insurances about how to be a successful adviser, the challenges and rewards of the job and her most memorable client experiences.

Marsden was named a Top Adviser in our second annual Top Advisers Rankings 2018.

How do you think the mortgage broking industry has changed over the last two years?
Mortgage broking is no longer transactional in nature.  It is definitely more relationship based meaning that the Adviser has a duty of care to ensure any recommendations have the maximum long term benefit for the client. 

What do you enjoy the most about your job?
Helping people achieve their financial goals.  Showing them they have more options than they thought not only in what they can do but in how they can do it.

What has been the secret to your professional success? 
Doing the absolute best that you can do for the client. 

What is the key to overcoming the challenges you face as a mortgage broker? 
To be resilient and act as an Advocate for the client ensuring they get the best result, but also not to take on other people’s problems and issues as your own. 

What is your best strategy for generating leads? 
Treating all clients with respect.  80% of our leads come from Word of Mouth.  If you do right by all your clients then the feedback and interest will generate itself.

What was your most memorable client experience this past year? 
When we got a loan approved for a client and they sent us photos along with the story that they did not tell the kids that the house they were going to would be their new home.  Photos of tears and hugs all round.  And the story they sent us describing it all was magic!

What do you think of the impending changes in the regulatory landscape? How will this shape the future of the industry? 
Brokers that aim for a high quality in the delivery of service I don’t think will be overly affected.  It’s the Cowboys that will find it harder to survive and good riddance.  The worst thing about regulation though is the compliance paperwork for the clients and clients hate paperwork!

Outside of being a broker, what are your favourite hobbies? 
Musical theatre.  I love to sing and act and help tutor musical theatre classes for an school programme. 

If you were the Prime Minister for a day, what would you do? 
Go on maternity leave.

If you could offer one piece of advice to someone starting a career as a mortgage broker, what would that be? 
Always have the best interests of the clients at heart and that will totally guide how you operate and put you in good stead.  And develop a thick skin as some of the lenders can be pretty butal!

 

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