A leading mortgage broker has claimed those brokers who do not capitalise on their core service proposition of stellar customer service are likely to get "trampled" by bigger players.
Ian Jordan of The Selector Group told Australian Broker Online brokers need to ensure they go beyond technical ability such as structuring a deal and focus more on their customer service process.
"I think that is where brokers might be missing a little bit, and this is their competitive advantage against the really big boys in town, their one-on-one ability to provide phenomenal service.
"That is really their unique proposition and if they are not doing that they really are competing with the big boys and I think they are going to get trampled," Jordan said.
He said this goes beyond service such as asking a client 'How are you feeling, and what are we going to do that is specifically different for you?', towards making sure the customer has a great experience all the way through.
Jordan added that this includes post-settlement service, not only during the loan application and approval process.
Commenting on the current market, Jordan said despite improved sentiment figures he "didn't realise the GFC was over".
"Everyone keeps talking about the post-GFC, but I haven't seen a market change from those times," he said.
"I think what we are seeing is that lower interest rates and prices remaining very very stable is encouraging people to look closer at the market and people are certainly seeing that, but we are not seeing a massive translation into action at the moment," he said.
See the full interview on Australian Broker TV