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Wake up call for brokers: diversify or die

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Australian Broker | 21 May 2015, 08:15 AM Agree 0
More than eight in ten consumers would consider getting a non-mortgage service from their mortgage broker, which should be a wake-up call for brokers
  • Scott Beattie | 21 May 2015, 09:22 AM Agree 0
    “Building multiple streams of income is no longer a luxury, it’s a necessity”

    Along with the statement above, if you don't offer it, your competitors will!!!
  • king clive | 21 May 2015, 09:53 AM Agree 0
    Clients want MORTGAGE specialists NOT one stop shops!
    This rubbish is being pushed by greedy aggregators
    next thing brokers will be selling steak knives
  • Broker | 21 May 2015, 10:37 AM Agree 0
    You know - Just like Doctors should moonlight as Dentists.
  • Dan - Melbourne | 21 May 2015, 10:48 AM Agree 0
    Agree with King Clive - my commissions are coming in beautifully - my FOCUS is on what I do best - Home Loans. I don't employ 40 thousand staff Australia wide, as the banks do and need to come up with ways of staying afloat. I offer a brilliant service and I do that because I'm not distracted by other avenues of earning revenue. I've been in the game 9 years - and am in the strongest position yet - whilst many 'one stop shops' are now gone.....please!
  • marty | 21 May 2015, 11:24 AM Agree 0
    I agree non diversification ie specialisation is the key.
  • king clive | 21 May 2015, 11:48 AM Agree 0
    It is Scott for those who struggle to make
    great money doing home loans.
  • Scott Beattie | 21 May 2015, 12:42 PM Agree 0
    We offer a number of products and services from Health, Commercial & General Insurance, Financial Planning and Property along with Home & Vehicle Finance - forgetting the additional income that comes from offering those services, we have found that our clients like that we have have a number of insurance and finance offerings under 1 roof. For myself and the 2 other brokers at our office- we do home and commercial loans, we have other team members that focus and soley do what they do best - so we just refer internally rather than externally and that allows each person to focus on what they do. I certainly don't do Health Insurance quotes and the like, I just get one of our team to call the client if they would like a review as an example. For things like conveyancing, building & pest inspections etc, that's what we refer externally to.
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