In the current economic climate, many brokerages have been faced with the challenge of how to substantially grow their business. Stephen Moore of Choice Aggregation tells Broker TV it’s a key issue facing the industry.
“I think the main challenge for brokers, in the current environment, is ‘how do I successfully grow my business when the market’s tracking at 5%, not 15% like it was a number of years ago?’ For me, the challenge for brokers is to grow their business as a business and for me there hasn’t been the level of focus, for some brokers, on business efficiency and effectiveness,” says Moore.
Westpac’s Tony MacRae says that in order to transition into a business growth environment, brokers need to ensure that all opportunities are maximised.
“In a low-growth environment, really nailing the delivery of turn-around, of service, getting it right the first time for customers - for brokers and the lender - is absolutely critical,” says MacRae. “So at Westpac, we’ve called this out as one of our four key strategic themes for the second half, focusing on service quality. We’ve got a program running that we term ‘First to Write’, which is all about ‘how do we get an answer to the customer far quicker, with less conditions, less complications?’”
To view the full interview with Stephen Moore and Tony MacRae, CLICK HERE