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Brokers searching for more support, says franchise

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Julia Corderoy | 04 Nov 2015, 07:31 AM Agree 0
Mortgage brokers are increasingly switching to higher support aggregation or franchise models as competition heats up in the industry, a leading franchise has claimed
  • Dave Robinson | 04 Nov 2015, 04:11 PM Agree 0
    Hi Andrea, a little perplexed here. It would appear that you are advocating that it is up to the broker to do all the heavy lifting. LM is part of Ray White yet you only generate 20% of the leads from them. The 80/20 rule seems to be the wrong way round especially if the broker is doing all the work. Good luck.
  • Papery | 05 Nov 2015, 11:22 AM Agree 0
    Agree with Dave... The broker gets to work really hard for everyone else.

    Real Estate Agents are not loyal... Not even to themselves... Agents frequently chop & change; no sooner do you build up a relationship then off they go to another agency.

    The leads received are usually poor quality applicants who may have already been declined elsewhere.

    The article fails to speak of the heavy comm split.

    Why would an experienced broker go switching to an aggregator that supplies leads? If you are experienced & established, you should have a solid referral base. Smells like spin to me.
  • Josh Bartlett | 11 Nov 2015, 09:42 PM Agree 0
    I am a broker at Loan Market. I have built a very strong sustainable business through the agent referral network.

    Last month I received 178 qualified leads lodged over 20 million and settled over 17 million.

    Yes it's hard work, but the harder you work the luckier you get. Last year I settled 116 million.
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