When it comes to building your own brokerage, there’s one crucial but often overlooked factor which can be instrumental in how you present your business – and that’s your own personal assessment of the value you bring, and the amount of confidence you have in your own proposition.
Psychology and mindset is a key component of former broker James Veigli’s 10X Broker Plan, and is composed of three key ideas: your level of self-belief, whether or not you have a ‘business mindset,’ and how well you understand client psychology. Veigli says getting to grips with all three is crucial if you want clients to respond to your offering, and if you want to create an efficient, long-term business.
“One of the biggest issues for many brokers is that they don’t truly realise how much value they bring to the marketplace,” Veigli explained.
“This leads to a lack of confidence, and that’s reflected in how they’re perceived by their customers. It’s like a chicken-or-egg situation – do you first need to gather that confidence, or does the customer first have to recognise your worth? But the issue is that if you’re not valuing yourself first, people will smell that a mile away.
“But if you can follow a framework that allows you to back yourself from day one, then your customers will also back you.”
The 10X Broker Plan comes with a set of frameworks that brokers can use to give themselves a confidence boost, and these consist of nine different components with self-improvement exercises which help build internal momentum.
They also teach brokers to focus on understanding their client on a much deeper level, and on seeing their career as a business rather than a job.
“The main difference here is that if you treat your career like a business, it becomes about doing something beyond yourself – something that can make you money without you having to handle every part of it,” Veigli explained.
“And when it comes to clients, if you don’t understand what makes them tick on a deeper level than simply ‘they want to save money’ or ‘they want to buy a home,’ then how do you expect to market to them effectively? You need to understand what makes them say yes or no, what their thoughts and needs are, what drives them, and why. This is vial if you’re going to lead and influence them for the better.”
“You need to work on yourself in order to grow, because you can’t outperform your own mindset,” Veigli concluded.
“If that mindset is limited in some way and you treat what you do as just a job, then that’s going to hold you back.”
James Veigli has been a mortgage industry coach and founder of Broker Profits Vault since 2008. If you are looking to grow and want leading strategies to accelerate, fill in the quick survey and book a 10-minute chat to see if we can help you too. Click here to start.