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Comparison site crackdown: No substitute for brokers

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Australian Broker | 17 Mar 2014, 08:38 AM Agree 0
The MFAA has praised a proposed ACCC crackdown on comparison sites
  • oldBroker | 17 Mar 2014, 02:32 PM Agree 0
    To dismiss these sites so easily is dangerous, Mr Naylor. We need to monitor their progress because they could be a disruptive influence on brokering. Technology, in all forms, is becoming more powerful and usable, and these sites are no different. Sites like realestate.com.au have changed the way that consumers source properties and there is every reason to believe that consumer loan sourcing can go the same way.
    The scary thing is that the lenders could dramatically change the consumer/broker landscape by adding intelligence into their consumer-facing platforms. Our present system remains viable for brokers only because they are battleships that cannot turn on a dime. The middleman is always usurped by technology.
  • oldBroker | 17 Mar 2014, 02:53 PM Agree 0
    To dismiss these sites so easily is dangerous, Mr Naylor. We need to monitor their progress because they could be a disruptive influence on brokering. Technology, in all forms, is becoming more powerful and usable, and these sites are no different. Sites like realestate.com.au have changed the way that consumers source properties and there is every reason to believe that consumer loan sourcing can go the same way.
    The scary thing is that the lenders could dramatically change the consumer/broker landscape by adding intelligence into their consumer-facing platforms. Our present system remains viable for brokers only because they are battleships that cannot turn on a dime. The middleman is always usurped by technology.
  • new school broker | 20 Mar 2014, 10:25 AM Agree 0
    like it or not technology cannot make up for experience or an understanding of the providers.
    Some providers may have great products on paper, but there is a lot more behind the paper that will affect the consumer - that is where the broker can add real value, often at no additional cost to the client.
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