MPA: What does it take to succeed as an independent brokerage?
Moshe Moses: I think basically you need to have a good service delivery platform that goes past just doing a deal or a single transaction for the client. It has to be one where you look at all different aspects of the client’s needs, not just the loan transaction.
MPA: How has business been over the past year?
MM: We’re just as busy as ever. Everyone has the presumption that the market is down and that property isn’t moving, but that tends to bring out another type of client that suits our current proposition. So we are doing a lot of property, but we’re doing a lot of commercial business as well.
MPA: How have you marketed your business to new clients?
MM: Our marketing is purely based on referrals or repeat business. At present, we don’t do any advertising. We have developed our website for introductions of the business to customers who have not yet been introduced, but for the last 10 years we have predominantly grown on repeat business and a referral basis.
MPA: Have you diversified outside of residential mortgages?
MM: Yes. I think we are nearly there in terms of having a full financial services offering. We just have one little piece of the puzzle left, which is conveyancing. [Diversifying] actually entrenches the client as long as you’re competitive and offer the right level of services. It gives the client security to know they can come to one place and have access to or be provided with the prospective products or services they require.