Brokerage launches real estate arm

by Julia Corderoy20 May 2016
ASX-listed mortgage brokerage N1 Loans has unveiled the launch of its own real estate arm.

N1 Realty will officially commence trading from 1 July this year in Sydney. The group is currently negotiating a lease for a location in Chatswood in Sydney’s North Shore, which should open its doors in October.   

N1 Loans CEO Ren Wong said a demand from N1 Loans customers for quality investment properties drove the decision to move into the real estate business. 

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

Wong couldn’t reveal as yet who has been appointed to head up N1 Realty, however, he did reveal to Australian Broker that it is an experienced industry veteran and “someone who has adequate experience in [N1’s] target market”. 

This is the latest announcement from the brokerage in its quest to become a “one-stop-shop” financial services company. The group launched Australia’s first Chinese language mortgage comparison website in April 2015, a DIY property renting app connecting landlords with potential tenants in December 2015, and an English language online mortgage calculator and comparison website this month.

Earlier this week, N1 announced a commercial deal with insurance provider, Ensurance, to supply white label insurance products to its home loan clients.

“We look forward to developing N1 further as a full service financial services company, making investment easier and more satisfactory for our growing customer base,” Wong said.