A young broker has harnessed the power of social media to provide multi-million dollar loans, saying he is now generating 50% of loans through his social media accounts.
Glynn Bruce of Chifley Securities has said he has embraced social media as his preferred marketing and delivery method, with his LinkedIn page now featuring 2,500 followers and a database of 5,500 people.
Bruce said he has written $11.2 million worth of loans through LinkedIn since Chifley Securities’ launch late last year, and claimed this an indication of the future of broking in Australia.
“These days, most people, especially younger ones, are comfortable with social media as a method of securing finance and we are leading the broking community in embracing this technology,” Bruce said.
“It is really quite simple to operate once you get comfortable with social media, which allows us to have constant contact with potential borrowers and lenders, providing tips and examples of how people can improve their financial position.”
Bruce recently secured a $6.7 million refinancing within nine days at the rate of 11% through the use of the technology.
“With interest rates from 9% year, I have the capacity to service loans of up to $30 million for commercial purchases, commercial refinancing, cash out and general business cash flow,” he said.
Chifley Securities is a new non-bank lender, launched in November 2014, which provides loans in the commercial property market ranging from $2 million to $30 million.