Success in Broking: Growth Strategies & When to Start Succession Planning

In the ever-evolving world of mortgage broking, understanding growth strategies and knowing when to think about succession planning are essential for brokers who want to build and sustain successful businesses. Recently, Sam Boer, Business Development Director at Empower Wealth, joined Jason Back from Broker Essentials in a webinar to share his insights on these very topics. With over 35 years of experience in the industry, Sam provided a wealth of knowledge that brokers at all stages of their careers can benefit from.

If you missed the live session, don’t worry! Here’s a quick summary of the key takeaways from this insightful conversation.

1. The Path to Success: Know Your Strengths and Build Around Them

One of the critical points Sam highlighted was the importance of understanding your strengths and building a team that complements your weaknesses. Successful brokers know what they enjoy and what they excel at — whether it’s client communication, marketing, or managing administrative tasks — and they surround themselves with talent that fills the gaps. This allows them to focus on high-impact activities and drive growth more effectively.

“To grow effectively, you need to focus on what energises you and delegate what doesn’t.” – Sam Boer

2. Bigger Isn’t Always Better

There’s a common misconception that growing a business to a larger size always leads to more success. In many cases, leaner operations with a focused strategy can be more profitable and less stressful. As businesses grow, so do the complexities and overheads. Some brokers find greater financial and personal satisfaction in smaller, well-managed operations than in larger, more cumbersome ones.

3. Succession Planning: When to Start and What to Consider

One of the core themes of the webinar was succession planning — a topic that many brokers tend to overlook until it’s too late. Sam stressed that succession planning should be part of every broker’s long-term strategy, no matter their current size or stage of business. He discussed the pitfalls of not planning early enough, such as having a business that is too dependent on the founder or lacking a clear pathway for transition.

Sam also highlighted the key elements that buyers look for in a business, such as stable client relationships, good data management, and well-maintained financials. For brokers considering succession, he recommended assessing their own books critically — would you buy your business in its current state?

If you’re considering this, check out this blog post: Selling Your Mortgage Broking Business? Follow These 7 Steps

4. The Role of Technology in Broking

Technology is transforming the mortgage broking landscape, but it should enhance rather than replace the broker-client relationship. Clients value trust and human connection, particularly when making significant financial decisions. Digital tools should be leveraged to improve efficiency, marketing, and communication while maintaining the broker’s role as a trusted advisor.

“Technology is a tool, not a replacement for trust. Use it to enhance your service, not overshadow it.” – Sam Boer

5. Digital Ecosystems: The Next Frontier

The future of broking may lie in creating integrated digital environments that solve specific consumer problems, such as home buying or investment planning. Digital ecosystems can offer brokers new tools and opportunities to engage clients more deeply and provide value beyond traditional broking services.

6. The Vital Role of Aggregators in Succession Planning

Another crucial topic was the role of aggregators in succession planning. Sam emphasized that brokers should work closely with their aggregators from the beginning of their succession planning process. Aggregators often have valuable insights into potential buyers and can provide support in structuring a deal that works for everyone involved. Don’t leave them out of the loop — they can be a strategic ally in your transition.

Watch the Webinar Replay

If you want to dive deeper into these topics and hear directly from Sam Boer, check out the full webinar replay above. Learn about the nuances of growth strategies, the right time to consider succession planning, and how to position your business for maximum value.

Whether you are an experienced broker looking to exit the industry or a newcomer aiming to scale your business, there’s a wealth of knowledge in this webinar to help guide your next steps. Remember, success in broking isn’t just about size; it’s about strategy, planning, and positioning yourself for the future.

If you’re looking to discuss more about this topic on succession planning with Sam, reach out to us at [email protected].

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