Major mortgage franchise, Loan Market Victoria has launched an ‘emerging elite’ retreat to assist promising brokers to develop into the group’s highest performers.
The inaugural invitation-only retreat was a two day conference held in Lorne over 18-19 November. The event was hosted by Loan Market chairman, Sam White and Victorian state director, Andrea McNaughton and saw 13 emerging elite brokers attend.
Speaking to Australian Broker
, McNaughton said it is important to identify who your top performing brokers are and be proactive about developing and supporting their careers.
“Our emerging elite brokers are those brokers who have demonstrated so far this year that they have the potential and momentum to settle in excess of $50 million next year.
“Often when a broker is growing their business at a significant rate they are faced with new challenges they did not expect and are unfamiliar with how to deal with – usually these relate to how best to increase their capacity and unlock their thinking around how to harness their growth opportunities.
“For us, we are serious about making our brokers more productive and more efficient – to have such an exciting emerging group of young talent within Loan Market we wanted to be proactive about developing their capabilities and introducing systems and structure that deliver more capacity into their businesses.”
McNaughton said training session focussed mainly on capacity and recruitment, including how to make use of Loan Market’s broker support team based in Manilla, marketing fundamentals and how to choose the right team structure for your business and help them be more productive.
The retreat also encouraged the group to share their own experiences with one another and discuss the challenges and opportunities from within the industry. According to McNaughton, the biggest challenge for up-and-coming brokers is developing deeper referral relationships.
“Getting more traction with referrers for more leads, particularly real estate agents, was the biggest challenge identified,” she told Australian Broker
“The retreat was unique in that we also head it in conjunction with Ray White's Emerging Elite Agents who joined us for a networking dinner in the evening. Feedback was fantastic from both groups, i.e. the unrealised value that still exists between a deeper relationship between agents and brokers working together.”