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Brokers' likeliness to leave aggregators revealed

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Australian Broker | 17 Jun 2013, 08:00 AM Agree 0
Do you plan to switch aggregators in the next 12 months? Find out how you compare to other brokers - the results may surprise you
  • mr 8 percent | 17 Jun 2013, 10:18 AM Agree 0
    Ask the same question if the broker can take their loan book with them
  • Rastafarian | 17 Jun 2013, 12:15 PM Agree 0
    I agree, with Mr 8%,. . I do not even own my loan book if I go, but the pass through is so pathetic I'm really not leaving that much if I do. If our loan books go with us I'd definitely be gone already.
  • SteveL | 18 Jun 2013, 09:47 AM Agree 0
    Looks like mr 8% and rasta forgot to do their Homework. Really though, too many brokers blame their aggregator for their underperformance...rather than themselves.
  • SIDBROKER | 18 Jun 2013, 09:59 AM Agree 0
    ASIC Needs to regulate aggregators. I was was ripped of by one of the big ones (Vic based)now owned by a major bank. Better still banks should get of their lazy butts and pay the brokers direct. Brokers supply the business to banks and yet the banks are simply to lazy to do the right thing and pay direct. We don`t need or want the middleman which are the "alligators".
  • Mr 8 Percent | 18 Jun 2013, 10:45 AM Agree 0
    SydBroker has the right idea but unfortunatly that the way it used to be about 15 years ago we used to package the loan take it to the lending manager of what ever branch we liked on the day and they would pay us a percentage of the loan amount that the manager received. the problem was to many Brokers popped up and to many cheques where being paid out, and yes Banks got lazy and some smart person introduced the idea of you pay me once a month and i will pay everyone else after my small cut. Guess what happened. Thats how long i have been around.
  • NP | 18 Jun 2013, 10:57 AM Agree 0
    Trail portability is the real issue. The fact that aggregators use handcuff clauses to force brokers to remain is shameful and unethical. Aggregators love it and Banks couldn't care less. Major issue for the Broker community.
  • SIDBROKER | 18 Jun 2013, 11:07 AM Agree 0
    To Mr. 8%. There are not near as many brokers around now and our numbers are falling. Banks need to acredite and identify who is good and who is not. Our amazing industry bodies could earn their keep and hold the acreditations and forward to lenders on request. We already have to many hangers on in our industry with their greedy hands out and that offer little or nothing in return!!
  • John | 18 Jun 2013, 12:17 PM Agree 0
    why not just bite the bullet and move to one that allows you to transfer your trail? I did a couple of years ago and much better off since money and service wise.
  • mac | 18 Jun 2013, 12:44 PM Agree 0
    Trail handcuffs is the deal you make when you sign up. Eyes wide open. There are alternatives now. With some of the pass through rates on offer with the big franchises you would be better to get out asap if you can supply your own leads.
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