Weekend wrap: Brokerage infiltrates real estate market

by AB21 May 2016
Making news this week, a brokerage became a one-stop-shop with the launch of a new real estate arm; broker market share of new home lending hit a record high; and an online directory and review site was launched by a tech-savvy broker.

N1 Loans is soon to be a one-stop-housing-shop with plans to officially launch a real estate arm in July, announced this week.  

Ren Wong, N1 Loans CEO said the expansion of the business has grown out of client demand.

“We have over 2,000 clients in our Salesforce CRM, and given our strong pre-approvals pipeline, it's time for us to diversify,” he told Australian Broker

“It's exciting times for us as it’s a new venture for us, but we see huge opportunities to complement the N1 loans business.”

Mortgage broker market share of new home lending hit an all-time high, according to research released by the MFAA.

Brokers originated $43.3bn worth of new home loans last quarter, up 7% from the same quarter the previous year.

“This broker market share record represents a milestone achievement that our members have worked hard for,” MFAA CEO Siobhan Hayden said.

“This growth is especially significant given that this research was conducted during a traditionally quieter period of the year.

The founder of Seniors First mortgage and online marketing agency WebBuzz has launched an online directory and review site for financial services providers.

Darren Moffatt said his new site, Wealthify.com.au, allows brokers to build up their profile online.

“The listings on the site are indexed by Google and because we use our digital marketing expertise to promote the site, it is becoming highly visible on the search engine. For example, if a consumer searches for a mortgage broker in the Blue Mountains they will find one of our listings,” Moffatt told Australian Broker.

“In addition to that, consumers can use the site to leave reviews – and reviews are really, really powerful in the online space. If a broker creates their own listing and sends an email out to their clients to leave a review on the site, what they will find is that the listings that have reviews will appear much higher in the Google results.”