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Broker productivity cause for concern

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Australian Broker | 03 Nov 2011, 05:00 AM Agree 0
The mortgage broking industry must become more productive if brokers are to see sustainable returns, Aussie chief financial officer John McDonald has claimed
  • SteveMc | 03 Nov 2011, 10:54 AM Agree 0
    I agree wholeheartedly that productivity is an issue - but this is an issue that can't be improved unless lenders start focussing on the crucial issue of delivery. Their processes are so constrictive that we and they have to step back and ask why have turnaround times not improved for 20 years? Brokers are submitting online, we are meeting standards to achieve benchmarks, we are better qualified, more resourced, more compliant and more responsible than ever. We too need to embrace better methods. The market is down and the lenders are crying out for business - yet, it still takes far too long for an unconditional approval. We have to examine this together, and drop the excuses from both sides to get it right.

    Now that funding is sorting itself out, delivery is the key factor, because accurate, fast delivery is the best way to tell your client that you want and appreciate their business.
    0.1% here and there, a birthday card and (empty)promises of exceptional service on their own just don't cut it any more.
  • Greg Cook | 03 Nov 2011, 10:55 AM Agree 0
    When there is so much to talk about thta can help Brokers all I hear these days is Broker bagging out, I am tired of reading such articles
  • Ozboy | 03 Nov 2011, 11:27 AM Agree 0
    Agree, especially if you have to split your income with someone else, we have recently seen what happens when you split your income with your client (Refund) and I am sure every franchisee in the Mortgage Broking space is looking hard at what their franchisor provides them for their cut. Just more leads isn't going to cut it when some will fall over because of things outside of your control. I think the idea that lenders and brokers (as a whole) will get together and tackle this problem is flawed, lenders are all ready showing they only want to support some brokers (segmentation) and the rest they don't care about, you can deal with the untrained people we have just put on. MFAA, FBAA and aggregators could really take this forward but nothing in it for them so little chance. Shame but that's the reality of the situation as it is now....of course according to me!
  • Lynne Cox | 03 Nov 2011, 11:34 AM Agree 0
    And yet the BIG BANKS continue to post record profits.!!!
  • positivebroker | 03 Nov 2011, 03:41 PM Agree 0
    Any one who wants to harp on about broker productivity is more than welcome to audit my files to see the litany of lender errors and delays that are the real cause of "unproductivity". I am dealing with one "bank" at the moment who dont even seem to pick up the file until I remind them it is outside SLAs!
  • mortgageandlease | 03 Nov 2011, 06:07 PM Agree 0
    Agree with all the above. We are only as good a the back up we get from the lenders. We can have an A class application, submit with all possible information they need to assess and we are still at their mercy when it comes to turning it around. It is the most frustrating thing about our industry is that we are so reliant on so many people to get a deal through and settled. Lenders, valuers, outsourced solicitors, conveyancers. If one drops the ball, the whole work flow suffers.
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