Baby broker boom: Lenders looking to new generation

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Lenders are starting to focus on the long-term performance potential of newbie brokers.

In their quest for volumes, lenders are increasingly engaging with brokers new to the home finance industry, according to Loan Market’s Queensland state manager Andrew White.

White says the brokerage has seen an increase in lenders engaging with recruits coming through its Queensland Broker Academy.

"We have noticed some lender business development managers are bending over backwards to train and coach our academy cadets," White said.

"With most lender BDMs targeting those that are already stars, some lenders are starting to realise that the stars of tomorrow are worth the investment today.”

White says it’s encouraging to see some lenders looking to the future, and that it’s a boost to the cadets’ confidence.

“Cadets have been grateful for the support of BDMs during training and they have also helped them in putting together their deals.”

 

  • James Adams on 26/11/2012 3:02:01 PM

    Whats the issue Peter t. Its great that the lender values your young blokes business and is offering encouragement. Obviously you are jealous.

  • PeterT on 23/11/2012 10:56:00 AM

    That would explain why one of my younger staff has been offered a habour cruise for putting 3 loans with a certain lender in the last 12 months.

  • Ted on 23/11/2012 9:25:20 AM

    Ozboy, you're one pessimistic guy. This is undoubtedly a positive for these brokers and our industry. Perhaps these brokers have been trained how to properly work with lender BDM's, instead of against them?

  • ozboy on 23/11/2012 9:02:32 AM

    I would suggest that some, especially the one's who have been around a little while, have burnt their bridges with the established brokers and as there are minimal new entrants all are going for the fresh meat...well until they burn them!!

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