Poll: Did you buck the trend in 2011?

by 29 Nov 2011

The past year has been touted as a tough one for brokers, with credit demand low and the housing market showing signs of weakness. Did your business buck the trend? By the end of the year, will you have written more business in 2011 than you did in 2010? Have your say here!


  • by Broker 7/11/2011 1:08:17 PM

    Well, this is the banks utopia broker business model isn't it, how they expect us to refer business to them for zero return is anybodies guess. This would just kill off the broker industry and that’s exactly what the majors want. The most disappointing part is that other lenders that rely on brokers such as ING, AMP etc and the non banks would probably just price fix their commissions just as the did back in July 2008, citing all the usual clichés that we have become accustomed to.

    After a successful 10 years in this industry, it’s very hard to imagine I will be in this industry in 10 years time, or even 5 years time.

    As someone stated last week, it’s all just smoke and mirrors.

  • by JB 7/11/2011 1:43:32 PM

    Totaly agree some lender are looking for an excuse. just remenber the banks would be getting broker services for free as we move more and more to electronic lodgment, our time our overheads are saving the lender money and costing the broker more as they ditch the staff they needed to load paper applications, perhaps we should charge the banks a fee for the extra work we have to do.

  • by derekmiles 8/11/2011 12:17:06 PM

    Now here is a novel way of doing business. Should commissions be under threat, why don't we set up a system of auctioning loans to lenders. So we take an application from a client (satisfying NCCP fully) and then we auction this application to the lenders. So they have to pay us a fee to take the deal. So the better the deal and the better the presentation the better the auction fee we could receive. This gets around the blame game of lenders saying we put up rubbish and get paid too much. It cleans up the industry - we have to put more work into maximising the quality of the deal.