Agent-broker partnership drives business outcomes
Referrals sent between Ray White and Loan Market are far more likely to turn into business according to 2016 Principal of the Year, Alistair Macmillan.
The Ray White Wilston principal has teamed up with Loan Market broker and 20-year finance veteran Matthew Dique to enhance each other’s service offering and empower clients.
So why does their partnership work so well?
“The emphasis is not on the referral. It’s on the customer service,” he says.
“Matt is able to provide clients with the confidence to bid. He holds their hand throughout the sales process and some buyers even request that he attends the auction.”
And confident buyers equals confident sales agents, who engage Matt or one of his team to contact every prospect they deal with.
“We’re an auction-based business so we see it as risk management. We have a duty of care to keep buyers informed about the rules of bidding at auction and to ensure they are finance ready,” Alistair says.
Trust is essential
For the system to work, agents must trust the broker, which takes time, according to Alistair
“Matt’s very good at his job but there’s still a transition period as agents gain confidence.”
That confidence has been built despite Matt and his team working in separate offices, 7km away in Chermside.
However, Matt works hard to meet every agent in the Wilston team two or three times each week.
“I attend weekly sales meetings, end-of-month office meetings, fortnightly in-room auctions and open homes on Saturdays,” he says.
“Geography is not an issue.”
Matt also collaborates with the Wilston property management team and cites a recent referral from them who he saved $8,500 per year.
“We saved him close to $5k on his investment debt and $3.5k on his home loan. He was ecstatic and so was the referring agent,” Matt says.
“If I can help someone build their business, then they will want to help me build mine,” Matt says.
“The guys don’t value commissions, they value knowing they have a broker working with their buyers to achieve the same objective - getting them to an auction and placing bids.”
“And clients see it as a good offering, knowing that we have the right hand talking to the left.”
However, Matt stresses the importance of setting rules for the partnership, particularly around the client’s privacy.
“Trust is everything. Alistair and his team know that anything I am told in confidence - by them or by customers - stays in confidence. Clients know that too.”
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