Loan Market has claimed rapid growth in its construction division, with plans to branch out into South Australia and Queensland.
The broker’s national director of sales, Mark De Martino, said construction team leader Steve Matsoukas would lead the drive into SA and Queensland following “remarkable growth” in the division.
“Loan Market Construction currently comprises 26 brokers in Victoria but they are running at 110% capacity with all hands on deck. They are doubling their business size every six months. The team attributes its strong success to both its strong referral source partners and its highly effective broker team,” De Martino said.
De Martino claimed the division was receiving just under 1,500 leads per month over the past year, and said it had received more than 500 leads in a single weekend.
“This type of lead generation is unheard of for a team of this size,” he said.
De Martino said Loan Market Construction, which deals primarily in financing land and construction deals but has the capacity to broker residential deals as well, will begin a “major recruitment campaign” in the states.
“We are targeting South Australia and Queensland as we see opportunities to grow the business in those states,” De Martino said.
Matsoukas trumpeted the division’s lead generation capabilities. While brokers on the popular Australian BrokerNews forums recently called into question the worth of franchise-sourced lead generation, Matsoukas claimed it was key to the division’s success.
“All of our brokers attribute their success to the lead generation achieved. Having access to such a strong lead referral source has certainly made all the difference,” Matsoukas said.
Matsoukas claimed the division had attracted some of the company’s top performers, and had seen brokers produce high volumes in a short amount of time.
“Five of our brokers achieved CBA Diamond Status last year. One of our team members, Bravesh Shah, was also the Loan Market Rookie of the Year last year and settled over $36m in just his second full year in the mortgage industry,” he said.