Stevens says despite the perception that first-time-buyer leads are “too far away from convertible business”, advisers are cleaning up on the cheap then sitting on them because no one else wants them.
Stevens says: “The reason is because they are prepared to play a long game and work with and keep in touch with the new buyer for as long as it takes. With that level of service the clients are often so grateful they have the potential to be a client for life and will turn to their adviser for far more than just that initial mortgage.”
Though not all opportunities will convert into business straight away, any dud lead should be banked for future business rather than discarded, says Stevens.
He says: “For those advisers that work this way, they are writing easy business today based on their efforts of several months, if not over a year ago. This can be frustrating for some advisers who want to place business now but those advisers who are equipped to keep in touch with all prospective clients and work with them are the ones who are succeeding in the current market.”