How doing it differently can make your turnover go boom
- Credit: Yellow Bricks Mortgages
A team doing things differently is reaping the rewards of operating as a group in a high-pressure industry.
Yellow Bricks Mortgage has grown from a team of two to 19, in just over a year.
The company operates as a number of brokers under the same banner - with no hierarchy and no fees paid to the company itself.
Managing director Greg Marcham explained: "I used to work for a big company and had to pay a 20% commission fee into the company. We do things differently here - I'm a broker the same as anyone else, and although we all have to pay 20% to our registered body we can keep the rest of the commission for ourselves."
As a result, all of the turnover generated by the business is handed back to the brokers themselves.
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"We operate our offices because each consultant pays a fee, about £200 a head. For that they obviously get the office but also access to the agents we're aligned with," Mr Marcham said.
The company now has two offices, its first in Wymondham and the second in Thorpe.
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"Our turnover is about £750,000," Mr Marcham said. "That is to say, that's how much the company has generated in mortgage writing before it's handed back out to the brokers."
The company is also operating with a more community-conscious mentality.
"When I worked at big companies I felt like we weren't really engaging with communities," Mr Marcham said.
As a result, the company has made a pledge to three Norfolk charities that they will donate £5 to one of them every time a mortgage deal is signed.
The three charities are Pact, Big C and Nelson's Journey.
"When we come to the end of a contract we ask the customer which of the three charities they would like £5 to be donated to," Mr Marcham said.
"I think it reflects what we're all about. We're not about numbers and making money. When we have people come on the team we tell them: it doesn't matter how many deals you sign, we just care that you give people the best customer service you can."