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Broker market share likely to grow, survey suggests

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Australian Broker | 29 Apr 2015, 08:00 AM Agree 0
A new survey suggests that as the number of younger people entering the property market continues to grow, so too will the market share of mortgage brokers
  • MCC | 29 Apr 2015, 10:28 AM Agree 0
    An interesting add on to this article is something that resonated with me in respect to younger generations, ''Y'' & beyond, after listening to past presentations on selling to different generations. They come from more dislocated families where trust has been lacking due to increased incidents of parent separation. If you can establish a strong trusting relationship with them it will carry the test of time. That's speaking from a 'baby boomers' perspective. Brokers / Credit Advisers have a strong value proposition to take advantage of that, which also often involves an old style formal interview. The general public have now also become better educated in understanding that ''banks'' are just selling products & of course THEIR products, the selling of which is negatively impacted by target based incentive schemes! (parting shot)
  • Stephen Hale - MFAA | 29 Apr 2015, 12:03 PM Agree 0
    Heads up. 2014 results show that brokers wrote slightly under 51% of the total market last year and make up over 60% of the growth rate in the industry. The MFAA are soon to publish the first quarter results for 2015. Based on these figures the broker conversion rate must very high. Thanks QBE for a great report.
  • Geoff Mannix | 30 Apr 2015, 02:47 PM Agree 0
    Interesting that it is the younger people who are more likely to use a Broker than the older respondents. I suspect that in some cases this may have to do about some misguided loyalty to a particular Bank.
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