Brokers “need more support” says Loan Market director

Loan Market Victoria state director, Andrea McNaughton, said that mortgage brokers are increasingly chasing high value models as competition increases in the industry.

“Since March, we’ve seen more than 30 brokers join Loan Market in Victoria and the majority of them are established brokers coming across from cheaper models in search of more value and more qualified leads.

“As we move into a harder operating market, brokers are recognising that they need more support. And to get that higher level of support they’re prepared to move away from the cheap options,” Andrea said.

The Loan Market Victoria team have developed a model for its franchisees that is centred around generating qualified leads.

“We’re a relatively new team and we came together this year with a goal in mind: to provide a platform for our brokers built on leads. We know that as the market becomes more competitive, leads will become more valuable to a broker’s business.

“In six months, we’ve tripled the leads coming out of Ray White and that number will continue to increase,” Andrea said.

Explaining that brokers aren’t restricted to Ray White leads, Andrea said the Victorian team are preparing to launch ‘real estate ready’ courses for brokers to learn the art to agent referral relationships.

“Although our partnership with Ray White is a huge opportunity for our brokers, we want them to know that relationships with agents from other real estate businesses are possible. And we know that the more relationships a broker builds, the more successful their business will be.

“That’s why we’re creating platforms and tools like eBroker to help enable our brokers to broaden their network of real estate referrers and work more closely with skilled property managers and sales assistants.”