The overlooked conversation mortgage brokers should be having with clients

You've done it. After weeks of chasing paperwork and wrangling with lenders, you've landed the best possible rate for your client. The deal is done, they're happy, and you're ready to move on to the next one. But what if a valuable part of your job happens after the loan application is signed?

The mortgage world is more competitive than ever. The brokers who are really succeeding aren't just processing loans; they're becoming genuine advisors who build deep, lasting relationships. They get that a mortgage is just one piece of a much larger financial picture.

This post is about one of the most powerful, yet frequently missed, conversations with clients. It’s about estate planning. And it’s a way to build client loyalty, generate referrals, and provide comprehensive support to your clients.

It might sound a bit heavy, but the need is definitely there. Only 42 per cent of Aussies have a current Will, meaning many of your clients may be unprepared for the unexpected. You are in a position to help them address this.

From mortgage approval to asset protection: Starting the estate planning conversation

So, what is this conversation really about? It’s about shifting from discussing how to buy a home to what happens after they have the keys, specifically how they can protect their new asset. It’s a gentle pivot from rates and repayments to asset protection and legacy. When you do this, you transition from a loan facilitator to a trusted advisor in their financial life.

Buying a property is one of those major life events that should automatically make someone think about writing or updating their Will, yet it almost never comes up during the mortgage process. This is an opportunity to provide significant value.

You can add another layer of expertise by bringing up non-estate assets. A lot of people think their Will covers everything, but that's not always true. For instance, the home your clients just bought? If they're a couple, they probably own it as "Joint Tenants." This is a small detail you can point out.

You can explain that this type of ownership includes the "right of survivorship." This means if one partner passes away, the property automatically goes to the surviving owner, completely bypassing whatever their Will says. Mentioning something like this shows you’re thinking about their long-term security. It proves you’re not just there to get the deal done; you’re there to look out for them.

This isn't about you giving legal advice. You're not a lawyer, and you shouldn't act like one. It’s about being a responsible guide who points out potential issues and encourages clients to take the next step to protect their family and their new home.

Why this conversation often gets missed

If this is such a big deal, why aren't more brokers doing it? Brokers are busy. You juggle tight deadlines, paperwork, and the pressure to close deals. It’s easy to see how anything outside the immediate loan application gets pushed aside.

Here are a few common reasons this chat gets skipped:

1. Fear of rocking the boat: You might worry that bringing up a serious topic like Wills could complicate things or create friction when you’re trying to get a deal finalised. The truth is, your clients may have already been postponing it. Research shows that 48% of people delay writing a Will because they think it’s too expensive, and another 44% avoid it because they assume it will be too difficult. By raising it, you are helping them address an important task.

2. It feels like it's not your job: Many brokers see their role as strictly financing. However, the industry is evolving. While securing a loan is your main function, offering guidance on related financial matters is what elevates your service. This shift toward a more holistic advisory role can distinguish a broker's service.

3. Focus on the deal, not the relationship: The immediate goal is always getting the loan funded. It’s a short-term mindset. But this focus can mean missing long-term opportunities for repeat business and referrals that come from building deeper relationships.

4. Not having a simple solution to offer: In the past, what could you do? The only option was to tell clients, "You should probably see a lawyer." That can feel like assigning a complicated and expensive task. It’s an easy step for both of you to skip. Luckily, that’s not the only option anymore.

The long-term benefits of this conversation

Sure, having this conversation takes a little more time. But the return on this small time investment can be significant. This can help build a more sustainable business.

When a client feels like you genuinely care about their family's future, not just their loan application, they become a client for life. They may be less likely to be tempted by other brokers offering a slightly lower rate because their relationship with you is built on trust, not just numbers.

People talk. A client who has had a positive, holistic experience is going to tell their friends and family about the broker who didn't just get them a great deal but also looked out for their family's future. This turns one transaction into a steady pipeline of new business.

You become the go-to expert for more than just mortgages. When they have other financial questions, you’ll be their first call. This elevates your professional reputation and makes you an authority, not just another broker. By guiding clients toward services like estate planning, you can also build reciprocal relationships with other professionals, a common growth strategy for many in the financial world who create partner programs with attorneys and other experts.

The difference is clear. A transactional approach requires constantly chasing the next deal. A trusted advisor approach builds a sustainable business that grows on its own.

A practical guide to having the conversation

Okay, theory is one thing, but how can you approach this conversation naturally? The key is to integrate it into your existing process. Here’s a simple guide.

Lay the groundwork with the F.O.R.D. method

From your very first meeting, use the F.O.R.D. Method (Family, Occupation, Recreation, Dreams) as a simple way to build rapport. This isn't about being nosy; it's about understanding your client's life.

When you ask about their family, job, hobbies, and future dreams, you're gathering context that makes the estate planning conversation feel completely natural later on. It connects their property purchase to their long-term life goals and shows you're invested in them as people.

Use key moments as triggers

You don’t need a separate, formal meeting for this. Just use moments that already exist in your workflow to plant the seed. Here are a few perfect times:

• When discussing dependents: As you're confirming their family details, it's a natural segue. You could say something like, "Now that you're securing the family home, have you thought about how you'd protect it for the kids if something unexpected happened? It's just one of those things worth considering."
• When confirming the property title: This is a good opportunity. When you explain they'll be "Joint Tenants," you can add, "It's worth knowing that this has specific inheritance rules that work outside of a Will. It's a great time to make sure your overall estate plan matches how you own the property."
• At loan approval: This is a moment of celebration and the perfect time for a gentle suggestion. You could say, "This is fantastic news! The house is sorted. A simple next step a lot of my clients take is making sure this huge asset is protected with an up-to-date Will. It can provide significant peace of mind."

Provide a simple, lawyer-reviewed solution

This is the most important part. The reason this conversation often goes nowhere is because there’s no easy next step. But that’s changed.

You can address their concerns directly. Most people think creating a Will is going to be expensive, time-consuming, and complicated. And for a long time, they were right. But you can reassure them that it doesn't have to be that way.

This is where you can introduce a modern, simple option. You could say something like:

"For most people with straightforward situations, you don't need to spend thousands at a lawyer's office anymore. Online platforms now make it simple and affordable. For instance, online platforms like Willfully are designed to solve these common worries. The whole thing takes about 20 minutes online, and every Will is checked by a qualified Australian lawyer, which ensures it is legally sound. It offers a straightforward way to complete this important task. It even comes with 12 months of free updates, which is perfect for new homeowners."

By framing it this way, you are performing a duty of care. You're identifying a risk and pointing them toward a credible, easy solution. This reinforces your role as an advisor who is looking out for their best interests.

Building lasting client relationships

The mortgage industry will only get more crowded. Brokers who thrive often move beyond being transaction facilitators and start building deep, advisory-based relationships.

This conversation is key to unlocking another level of service. It can transform your role from a one-time provider into an essential partner in your clients' biggest life moments.

In the end, it’s about securing more than just a property for your clients. It’s about helping them secure their family's future.

By guiding your clients toward simple and secure estate planning options, you solidify your value in a way a competitive interest rate alone cannot, helping to build a sustainable business.