Adding Value with Peter Savage
Sam Panetta and Peter Savage of Savage Money on why the strategy may be the same, but the value you add is what sets you apart.
Put the same client in front of most capable brokers and they’ll get the same outcome. The value you add, and whether people know you exist, is what sets you apart.
1) Two moving parts
Peter keeps the mortgage model simple: get leads in and get deals done.
- Leads in.
- Deals done.
2) Lead flow is the limit
Most brokers struggle to generate leads, and that’s the problem. You’re limited by the amount of lead flow you can produce.
- Lead flow caps your growth.
3) Selling on rate won’t last
If you’re not adding value and have to sell on rate, Peter reckons you’ll probably be squeezed out of the industry within the next five years.
- Rate isn’t a long-term edge.
- Add value or get squeezed out.
4) The strategy is the strategy
Once a client sits down, the strategy is the strategy: which bank, refinance here, cash out there. Most brokers familiar with that type of lending would reach the same outcome.
- Good brokers reach similar outcomes.
- Strategy alone won’t differentiate you.
5) Be the broker people know
There are a lot of great brokers out there that no one knows about. Peter loves seeing more brokers making content, because it adds value. Without visibility you rely on referrals and a slow-burn business.
- Create content that adds value.
- Visibility speeds up growth.
The biggest lesson from Peter Savage
The strategy is often the same between good brokers. What sets you apart is the value you add and making sure the right people know you exist.
