the voice - vow financialyour deal! purchase sale. queensland $ 800.00 $ 600.00 new south wales/act...

ISSUE 12 September 2012 T: 1300 656 922 ABN 66 138 789 161

In this edition•Welcome

•VowNationalConference2012

•VowCommercial

•VowLegal

•IndustryFocus(ScottErickson

AdelaideBank)

•InvestinginNewStaff

Members

•Upclose(LawrenceToledo–

JLFinance&GreenFunding)

•QuickNews

Upcoming EventsProduct Training Days

September20–Brisbane

September25–Sydney

October2–Melbourne

Vow Academy Webinars

September13–GettingMore

RepeatsandReferralsBusiness

National Conference

October24-26–Phuket,

Thailand

Ponder this...“Yourmostunhappycustomers

areyourgreatestsourceof

learning.”

–BillGates.

It’sbeenanotherchallenging

yeartosaytheleast.We

startedthenewcalendar

yearwithsuchoptimism,

especiallyaftersuchastrong

finishto2011.Howquickly

thischangedwithinthefirst

fewmonthsof2012.Mostof

thenegativenewscontinues

tocomeoutofEuropeand

thishascontinuedformost

of2012andIseenomagic

solutionforthefinancial

woesoftheMediterranean

countries,whichincludes

Greece,Italy,Spainand

Portugal.Theausterity

measurestherestofEurope

aretryingtoenforcearenot

unreasonable,asalltheyare

askingisforthosecountries

thatareintroubletolive

withintheirmeans.Butyou

canimagineifsuccessive

governmentshadnotdone

thisforthelast40yearsitwill

taketimetochange.

InAustraliawearegoing

throughsimilarchanges,

especiallyaroundcredit.It

becamesoavailableandeasy

togetweforgotwhatitused

tobelikeinthe70

sbeforederegulationofthe

Bankingmarketwhengenuine

savingswasa20%depositto

buyahomeandnotthe5%

mostbanksseemtobehappy

withtoday.Whilewearenot

rationingcredittheeaseof

obtainingfundshascertainly

reducedsince2008.

Itneverceasestoamaze

methatindifficulteconomic

environmentshowmanygood

brokersareabletogoagainst

thetrendandoutperformthe

market.Vowseemstobe

blessedwithmanyofthese

brokersasVowcontinuesto

growmarketshare.

Wehaveanumberofexciting

initiativeshappeningoverthe

comingmonthswhichIwill

sharewiththoseinmoredetail

atourProductDays.

- Launch of Vow Commercial

- New Pooled Professional Indemnity Insurance

- Adverse Credit referral opportunity

- Lead Generation

- Brand Creation

- Ongoing expansion of all our other Vow Product offerings

Thiswillcontinuetohelp

brokersexpandtheirrevenue

lineswhileimprovingtheir

customerretention.Andlet’s

notforgetthevaluethiswill

addtoyouroverallbusiness.

Theconferenceisnotfar

awayandforthosewho

havenotbookedthereare

stillsomefabulousflight

andaccommodationdeals

toPhuket.Theabilitytoget

awayandspendtimeon

yourbusinessiscrucialfor

anybrokerwhowantstotake

theirbusinesstothenext

level.Theopportunitytolisten

tospeakerswhohavebuilt

successfulbusinessesand

networkwithyourpeersina

relaxedenvironmentisrare

andshouldnotbemissed.For

thosethatarekeenshould

talktoyourBDMwhowillhelp

yougetregistered.

Welcometothe12thissueof

theVoice…

WELCOME

Tim BrownCEO - Vow Financial

A regular publication from VowTHE VOICE

VOW NATIONAL CONFERENCE 2012- 7 Weeks To Go!

OurNationalConferenceisbeingheldon24-26Octoberattheaward-winningfivestarJWMarriottResortandSpa.Thehotelissituatedon11hectaresoflushtropicalgardenswithswimmingpools,freshwaterpondsandnaturalpreservedcoastalwetlandsoverlookingthebeautifulMaiKhaoBeach.There are already 130 delegates confirmed and a great line up of speakers, events and networking opportunities.

Registrations will be closing soon,tobookyourticketpleasegotowww.VowConference.com.au.FormoreinformationabouttheconferencepleasecontacteitheryourVowBDMorTaraDavorenon0282984888.

A regular publication from VowTHE VOICE

T: 1300 656 922 ABN 66 138 789 161ISSUE 12 September 2012

We look forward to seeing you in this tropical paradise!

www.vow.com.au

What are the prices for Vow Legal?

# Please note that prices do not include GST, search fees and outlays. They are based upon a standard residential contract with a contract price of $1.5 million or less.

Get referring! Go to www.VowLegal.com.au

THE VOICEA regular publication from Vow

VOW LEGAL

VOW COMMERCIAL

“Our Vision is founded on the original reasons why Vow was established. To be different, to help brokers achieve their goals, and to make them successful financially. If we have achieved that then the financial success of the company will be assured.”

- Tim Brown, CEO Vow Financial

InlinewiththatVision,Vowhasdevelopedaseriesofinitiativesforusebyourbrokerclients.Accordingly,wewouldliketoannouncethelaunchofVowCommercial.Vowhasdevelopedapanelofexpertsinthefieldofcommerciallendingtoassistintheassessmentandsuccessful

applicationforcommercialfunding.Thepanelwillmakeaninitialassessmentandprovideadviceonhowbesttoproceedonyourbehalf.Theapplicationwillbedevelopedbyamemberoftheexpertcommercialbrokingpaneltomaximisethelikelihoodofsuccess.

www.vow.com.au

How Does Vow Legal Work?Overthepastdecadetherehasbeenanincreaseinthelevelofcomplexityandskillrequiredtocompleteapropertytransaction.VowLegalensuresthatwhenyouarebuyingorsellingahouse,unitorland,yourrightswillbeprotectedandwemakesurethateverystepofthetransactioniscompliedwithaccordingly.Althoughnotforallclients,VowLegalworkswellwithyoursavvyinvestorwhodoesn’tneedtomeetfacetofacewiththeconveyancer.

VowLegalhasreceivedhundredsofconveyancingandotherlegalservicesfromtheVowFinancialnetworksincelaunchlatein2011.Vow Legal pay 22% commission to a referring broker within the Vow network. All of the referral is done online – just go to www.VowLegal.com.au or call 1300 781 215.

Go to: www.VowCommercial.com.au to find out more information on how it works and to lodge your deal!

Purchase Sale

Queensland $800.00 $600.00

NewSouthWales /ACT $1,200.00 $800.00

Victoria $800.00 $600.00

WesternAustralia $1,200.00 $800.00

Tasmania $900.00 $600.00

NorthernTerritory $1,200.00 $900.00

T: 1300 656 922 ABN 66 138 789 161ISSUE 12 September 2012

What was your New Year resolution? Thesameoneit’sbeenforacoupleofyearsbutneverthelessIachievedthemilestoneofhavingmylastcigaretteonFeb28that1.29pm.JustasIwaswalkinginthedoorofthehypnotist!AndnoIdon’tbarklikeadogwhensomeonesaysthemagicword!

What was the last book you read? DigitalFortressbyDanBrown.

What CD is currently in your car stereo? Train,SavemeSanFrancisco.

If you weren’t working in the mortgage and finance industry what would you like to be doing? I’dmowlawns.Wouldlovetohaveajobthatisinfluencedbytheweather.Rolloverinthemorning...lookoutthewindow…rollbackoverforanotherfewhours!

What are the big issues facing the mortgage broking industry in the next two years? Complianceandworkingtowardsbeingrecognisedasaprofessional.

What was the first job you ever had? ItwasalongtimeagobutIdoremembermyfirstshiftatMcDonalds.Ihadtocleangherkinsoffthewindowthatmybrother’smateshadflung!

What is your favourite movie?LoveShawshankRedemptionandtheGodfather.ButalltimefavouriteisSilenceoftheLambs.

What drives you? Thewifedriveshomealways.It’sonlyfaircauseIdrivethere!

What do you drive? Myfamilymad…andthenIgetintomyMazdaCX7!

How do you unwind? Iusedtobeundertheillusionthatgolfwasagreatwaytorelax.ButthenIworkedouttheolderyougettheclosertheballistoyou.CookingandaredwinehavetakenovernowandIhavethebellytoproveit!

Where is your next holiday destination? HeadingofftoHamiltonIslandsoonforourfriend’swedding.Itwillbenicetobethereforaweekwithoutitbeingforaconference.

Industry OutlookAsclichédasitmightsound,changecontinuestobetheonlyconstantinthebrokerindustry.Adecadeofmassivecreditexpansionfollowedbyarunintheoppositedirection,commissionsincreasinglikeclockworkandthen-oneday-30%offthetop,morefundersthanonecanpokeastickatoneminute,fourflavours

ofvanillathenext;limitedregulationexchangedforsensethatayou’rewadingthroughlegislativemolassesuptoyourknees.

AsthelateMrLennononceobserved,strangedaysindeed.

This“newnormal”has–andwillcontinuetodrive–ashakeoutofthesector.Themovetowardsgreaterlevelsofprofessionalism,moreadviceandlessproductpushingiswellintrain,butthereislittledoubtthatsome,ifnotmany,willnotmakethetransition.Inaworldofsubduedcreditgrowth,thosebrokerswithgenuineconnectionstotheirclientbaseandthesupportrequiredtomakeithappenwillprosper,largelyattheexpenseofthosethatdon’t.

Fromafunder’sperspective,today’senvironmenthasacoupleofimplications.Firstofall,youneedtohaveyourfundingingoodshapeand,withthelowestlevelofdependencyontheglobalmarketsofjustaboutanybankinAustralia,we’rereasonablycomfortablewithwherewesit.Secondly,maintaininghighlevelsofefficiencyforyourownbusinessandyourpartnersisparamount.Wecollectivelyneedtomakeeverypostawinner.That’s

whyAdelaideBankchoosestofocusonthesimplicity,affordabilityandreliabilityofouroffering.Wakingupeverydayconsideringwhatneedstobedonetogetthenextbunchofapprovalsoutontimeislessglamorousthanmanyotherthingswecouldspendourtimeon,butwesuspectthatattheendoftheday,it’swhatmatters.

Wealsothinkchoosingyourpartnerstakesonmoreimportance.Aggregatorsthatfailtomaketheshiftfromsimplecommissioncollectorsandsoftwareproviderstogenuineenablersofbusinessandprocesswillceasetoaddvaluetoanyone.OrganisationslikeVowhaveclearlychosenthelatterpath.Wethinkthatisgoodforitsmembers,forAdelaideBankandtheotherfundersandgoodfortheindustry.

THE VOICEA regular publication from VowTHE VOICEA regular publication from Vow

INDUSTRY FOCUS

Scott EricksonHead of Mortgage BrokingAdelaide Bank

This issue we asked Scott Erickson a few personal questions and to give Vow his thoughts on the industry and partnering with Vow.

THE VOICEA regular publication from Vow

by Dave Staughton

www.bigdave.com.au

Intheearly1980’smydadranatearoomsintheDandenongRanges.Hetaughtmehisspecialtechniqueforhiringstaffcalledthe“warmbodyrecruitmentstrategy”–Ifyouhadapulseyouwerein.Anyonecouldturnupatthefrontdoorofthebusinessaskingforajobandhewouldhirethem.Withnointerview,noinductionandnotrainingtheywereunleashedontheunsuspectingcustomers.Generallyspeaking,thiswasadisaster-mostpeoplelastedafewhours,afewdaysorafewweeks.Meanwhile,thecustomershadthe“FawltyTowers”Experienceinreallifeandthebusinessstruggled.

Staffcanbethebestinvestmentyouevermakeoryourbiggestnightmare.Giventhehighcostofhiring,trainingandtheimpactonteamwork&clientrelationshipssomeHRpeoplehaveestimatedthecostofhiringandlosingastaffmemberatmorethan$50,000.AtfirstIdidn’tbelievethisuntilIstartedconsultingandfoundittobetrue!

LastnightIwaswatchinganepisodeofaTVShowcalled“World’sstrictestparents”aboutacoupleofAustraliankidswhoweretotallyoutofcontrol.TheyweresenttoFloridatospendaweekwithtotallydifferentparents.Theimpactoftheshiftingtoadisciplined

environmentwasdramatic.Infactitwasunbelievable!Thebehaviouralchangefromangry,unruly,unproductiveteenagertomature,caringandperformingindividualwasastonishing.

Andclearlydemonstratedthevalueofhavinganenvironmentwithdiscipline,rules,consequences,expectationsandlove.

THE VOICEA regular publication from Vow

INVESTING IN NEW STAFF MEMBERS – Some Tips & Tricks

Here are some of the many techniques for hiring great staff:

One hour of good recruiting is worth hundreds of hours of trouble later-Sospendyourtime,checkreferencesandhirewisely-“Hireinhasterepentatleisure”.Avoiddesperationhiring.

1

Avoid selling them the job – Instead paint it black!-Tellyourcandidateshowyourunadisciplinedworkplace,beupfrontaboutyourhouserulesandclearonyourexpectations.Goodleadersuse‘toughlove’–asteelfistinavelvetgloveapproachanditworks!

The team is a reflection of the mindset of the boss-PoorLeadershipbehaviourlosesgoodstaffandanegativeattituderepelsgoodapplicants.Don’tpickapplicantsyoureallydislike.“Yougetthestaffyoudeserveandyougetwhatyouputupwith.”

2

If you can’t attract decent applicants, rewrite your ad, advertise more widely or overhaul your workplace culture.Remember,“Achoiceofoneisnochoice–don’thirethebestofabadbunch”

34

5

6

7

8

Pick the best applicant for the role–IfyouwantHighperformersandleadersthenyoumaywanttochooseaPhD–thePoor,hungryandDriven–manycomingfromoffshoreatthemoment–however,somehighperformersareunstableandonlylastashorttime.

Hire for work ethic-OnelargebankIknowprefersleadersthatarefirstbornchildrenofimmigrantfamilies.Sometimesa“solidfollower”ismorestableinthelongrunthanaprimadonna.Learnaboutbehaviouralprofiling(DISCanalysis)byaskingMattMitcheneratVow.

Most people make promises, tell lies and embellish the truth in job interviews-Thebestindicatorofagoodemployeeistheirperformanceinthefirst90days.Thisisthebestbehaviouryouarelikelytosee.Iftheyaren’tright,admitdefeatandterminateinsidetheprobationperiod.“IfinDoubt–Chuckemout”andalwaysdoreferencechecking.

Provide a great induction and training-Youarepayingtotrainyourstaffonthejobanditcostsyouthetimeofthenewone,theirstaffbuddyandtheimpactofmistakesonyourclients.Getyouacttogether,createatrainingprocessandrunaninductioncourselike“90daystogreatness”.

For more ideas and advice on building your team email bigdave@bigpond.net.au

How did you get into mortgage broking? Igotintobrokeringthroughafriendofmine.Wegraduatedfromhighschoolin1999andIwentontostartadualbusinessmanagement/commercedegreeatUQ.Hegotintorealestateandayearlaterwecaughtupagain.Duringthecatchuphesaidtogetintofinance.Iaskedwhyandheshowedmehistaxreturnforthepreviousyearwherehemade$177,000inrealestate.IdecidedthenthatIshouldmakeacareershiftandgotintofinancesixmonthslater.

What’s the key to success in the broking industry? Ithinkthekeystosuccessinthebrokeringindustrywillbethefollowing:abilitytobuildrapportandrelationshipswithcustomersandreferrersandlenders,industryknowledge,workingharderandsmarter,proficiencywithloanprocessing,goalsettingandbackingyourselfthatyoucanmakeitwork.

Describe your approach to business in five words. Liquidity,profitability,growth,relationshipsandsystems.

What changes have you seen in the industry since you became a broker?Legislationhasbeenabigpartofthechangesintheindustrysince2001,whenIstarted,butalsothereductionincommissions,andtherequirementforbrokersto

bemoreproficientwithloansandsubmissionswithlendersbecomingmoredifficultwithlendingpolicy,andtherequirementofbrokerstobeabletocrosssellotherproductsandservicestogeneratelargerrevenueandprofitability.

What’s great about working with Vow Financial? Theyareadynamiccompanythatworkwithyouandarelikemindedpeople.Theycareaboutthechangesinourindustryandwhatwillmakeabrokernotonlysurvive,butthriveinthecurrentenvironment.Thisisevidentwiththeotherproductsthatwecannowcrosssellsuchaslegal,equipmentloans,financialplanningetc.

How do you unwind? Iliketoreadcarmagazines,watchamovieorreadabook.

What are you watching? TheOlympics.AmwaitingforthethirdseasonofGameofThrones.

What are you listening to? IlistentotheradiowhenIhavetime,thoughIspendthemajorityofmytimeinthecarmakingphonecallsandbeingproductive.

What annoys you?Peoplewhodriveunderthespeedlimitontheroads–theyarealreadyslowenoughasitis!

What makes you happy?Spendingqualitytimewithmyfamilyandfriendsandsleepingin.

What’s your ultimate goal?Tolivealifethatwasfulfillingandadventurous.ToexperienceallIcaninlifeandlivewithnoregrets.Ibelievelifeisajourneynotadestination,sothebestthingyoucandoistomakethejourneyasbestandasall-encompassingaspossible.

If you could have any two people in the world to dinner, who would they be? MichaelJordanandKobeBryant.

Have you had a life changing moment? YesIhavehadafew.

Finish this sentence. ‘Success is findingthefuninasmanythingseveryday.

Where is your next holiday destination? USAtowatchtheNBA.

How did you earn your first dollar? IworkedatthePizzaHutCallcentretakingphonepizzaorders.

THE VOICEA regular publication from VowTHE VOICEA regular publication from Vow

UP CLOSE Lawrence ToledoJL Fincancial Services and Green Funding

Lawrence ToledoFinance ConsultantJ L Financial Services & Green Funding(QLD)

LAWRENCE’S STORY…LawrenceToledoisafinancialservicesconsultantwhoholdsafinancialserviceslicenceandabrokeringlicence.Hehasbeenworkinginthefinanceindustrysince2001.HerunsGreenFundingandJLFinancialServiceswithhisbusinesspartnerandfriend,JoanneJacksonsince2007.

JLFinancialServicesfocusisassistingourcustomersandreferralpartnerstofacilitatetransactionsthatrequirefinance.In2012,GreenFundingwasestablishedtopartnerwithGreenInitiatives,acompanyprovideenvironmentallyfriendlyproductsandservicesandprovidefinancingoptionsfortheircustomers.Thebusinessgeneratesit’scustomersthroughwordofmouthreferralsfromexistingcustomersandreferralpartners.

THE VOICEA regular publication from VowTHE VOICEA regular publication from Vow

TEAM VOWW: vow.com.au

BecomeafanonFacebookwww.facebook.com/VowFinancial

FollowusonTwitterwww.twitter.com/VowFinancial

Sydney Office T: 1300 656 922POBoxH265,AustraliaSquareNSW1215

Newcastle Office T: 1300 730 050POBox575,HamiltonNSW2303

QUICK NEWS

- CongratulationstoallthosewhoreceivedawardsandrecognitionatTonyNewcombe’sMid-yearterritorysalesawardsafternoon.

(L-RL-RTonyNewcombe,ThierryLui,

AnushaHaranAFM,ChristineShenCitibankandFarhadDalvand)

- WelldonetotheVowStaffwhocompletedtheCitytoSurfraceonSunday12thAugust.

(L-R,JustinDale,TaraDavoren, JackCzechowski,MattMitchenerandSarah

Purdy)

- VowIncentiveProgram–over1.7millionpointshavebeengivenawayalreadythisyeartogetyoutotheVowConferenceinPhuket.LogintoyourVowaccounttosee!

SERVICE GUARANTEE FOR OUR BROKER PARTNERSIfitevertakesusmorethan4businesshourstoreturnyourcall,wewillpayyou$100-noquestionsasked.

www.vow.com.auT: 1300 656 922 ABN 66 138 789 161ISSUE 12 September 2012