As the mortgage industry continues to evolve and address new challenges at the end of 2023, brokerages may be facing difficult decisions and painful changes. It’s important for mortgages broking firms to have a plan of action for managing change while minimising negative spillover effects.

Firstly, it’s essential to make sure the messaging surrounding changes is consistent and clear. This helps to minimise confusion and uncertainty, and create a sense of direction. Secondly, assembling a team of internally and externally trained professionals can help to successfully implement a plan while ensuring any changes are skilfully coordinated.

Brokers should also keep an eye out for how changes might be perceived by their customers. Taking a customer-centric approach can not only help to assess the impact a change might have on a customer’s business but also create opportunities to strengthen customer relationships and loyalty.

Key Points:
• Consistent and clear messaging about changes: Addresses confusion and uncertainty and promotes direction
• Assemble team of professionals: Successfully implements plan while ensuring changes are coordinated
• Customer-centric approach: Assesses impact of change on customer’s business and strengthens customer relationships and loyalty

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