Loan Market is urging all brokers to embrace independent consumer review sites, claiming they're "word of mouth on steroids" and can generate huge digital leads.
Executive chairman Sam White made the assertions at its broker conference in Melbourne yesterday.
He claimed Australia should look to the US, where review sites such as yelp.com generated more leads for brokers than any other means.
"The reality is, for a good business, this is a huge lead generator. Take the already good experiences that you're giving your clients and start to promote them more aggressively," he said.
"People go on these sites and rank their experience. You have no control over what your clients say...it's happening whether we like it or not," he said.
White claimed Loan Market brokers had rated highly on independent satisfaction reports.
"Looking at [these results] this is a weapon we should be using."
He revealed the brokerage would focus on "embracing" these sites over the next three to five years.