"These contacts have been able to witness the broker complete a successful transaction and therefore will be more open to business development discussions."
Post completion, brokers are provided with a referral sheet for business development ideas across all the touch points within that deal.
This not only includes mortgage renewal dates but also lists all the different parties who have been involved in the transaction. There may be an opportunity for the broker to discuss business ideas with professionals and contacts such as accountants, solicitors, estate agencies, professional advisers and trustees.
Buy-to-let portfolio landlords will have other properties in the background so this could open up discussion opportunities for the broker around refinancing when mortgages are due for renewal.
Miranda Khadr, CEO and founder of Pitch 4 Finance, said: “With the best and most productive brokerages we see that more effective results come from a concerted review of potential referral sources from contacts that have been part of previous transactions.
“These contacts have been able to witness the broker complete a successful transaction and therefore will be more open to business development discussions. They are far easier to engage with than colder prospecting and costs the broker nothing at all.”
