The Consultative Broker™ Briefing
Volume V, Number 11
A Free Publication of C.R. Ekern & Company
888.670.1177
www.crekern.com
Copyright, C. R. Ekern & Company, 2007

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Communication is the Key

I was speaking recently with a very successful broker here in the Southwest.  Our conversation drifted to the subject of controlling the end result of the deal.  “I get really frustrated sometimes,” she explained, “especially when I do the right things and the people around me let me down.  How do other successful brokers deal with this?”

Every deal has three sides and three different points of pressure.  Of course we know about the first two; your carriers/markets and your clients.  But, what about that third important pressure point?  This is the one that can make or break you before you even get out of the box  - your internal support staff.

As a Consultative Broker you know the importance of being perceived as a gatekeeper of resource capabilities, services and value.  The internal coordination of these client services is critical to success.  Here are some thoughts about how successful brokers interact with their staff:

1. They clearly outline their expectations.  On each account they have developed a strategy for moving the client through the pipeline.   These expectations are discussed and thoroughly communicated on each account.

2. They monitor the status of each account.  A successful broker understands that the ultimate responsibility of success (and income) rests with them.  In order to maintain accountability, they have a systematic methodology for tracking the progress of the deal.

3. They understand the importance of mentoring.  Sometimes a broker needs to take the position of a teacher.  The effort invested in this will be returned many times over.  After all, an effectively trained support staff allows them to more effectively duplicate their efforts.

4. They place the client first.  Their ultimate goal is to exceed client expectations.  They understand that a client judges them and their organization based upon responsiveness.  To that end, they expect excellence from themselves and others in the organization.  Sometimes changes need to be made in order to expedite the “client first” mentality within the organization.

5. They immediately address problems.  A successful broker knows that clients can be won or lost based upon the initial reaction to problems.  Anyone can deliver the good news; it's how we deliver the bad news that ultimately determines our success.

6. They understand the intangibles.  As in any business transaction, there are always unforeseen obstacles.  The file that got lost, the person out sick, the resignation, etc.  Consultative Brokers understand that this is part of the normal business process and plan for contingencies.

Communication is the key to being a successful Consultative Broker.  At the end of the day, this is still a business that revolves around people and effective motivation.  Your ability to communicate and lead a staff is vital in the Consultative Brokerage process.

Best regards to all Consultative Brokers,

Rob Ekern
President
C.R. Ekern & Company

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Consultative Brokerage® Techniques are utilized by agents and brokers across North America in the development and retention of upper middle market revenues.  The Consultative Broker Briefing is delivered electronically free of charge to selected agents, brokers, and other insurance professionals across North America.  To subscribe to The Consultative Broker Briefing, please click here.

Copyright 2007 C.R. Ekern & Company