IT investment can be cash well spent

18 January 2010

The need for mortgage professionals to diversify to survive and maintain an acceptable level of income has been well documented in recent years.

Many have had to make difficult decisions since the market took a tumble, and some have had to lay off staff to survive.

But it is equally important to ensure remaining staff operate in a structure that affords them the maximum amount of selling time and involves the least possible time spent performing administrative duties.

Of course, administration can cover a multitude of tasks from keying data into multiple application forms to marketing, contacting clients, chasing commission and paying wages. These sorts of roles can and often do take us away from our core business.

So it’s clear that a process or system that cuts the time spent on administrative burdens, enables enhanced client management and affords marketing opportunities to boot should be in all mortgage professionals’ armoury.

Not convinced? Well, how long do you spend completing the above tasks in a typical month and how much would you charge for the time you spend on them?

It’s worth taking some time doing this calculation. Once you have established the number of hours you spend on these tasks and multiplied that by your cost per hour the result may be surprising.

That is the price for acquiring a system that can radically improve your systems and processes and make you more profitable.