Home loan auction platform goes national

by Madison Utley17 Aug 2020

A recently restructured online home loan auction marketplace has announced it is going national in a bid to equally aid brokers and lenders of all sizes.  

Following its merger with LoanDolphin, Joust has delivered a range of new products and services to market, with the premier being its Joust Instant Match.  

The service was crafted for customers looking to more efficiently assess their financing options, connecting them with up to three service providers who quickly check their criteria against their different home loan products.

Since initially going live with the service, Joust Instant Match users have proven unlikely to shop elsewhere digitally, providing a greater chance partners can make contact and convert.

“Mortgage brokers are now able to subscribe and acquire quality home loan leads for a fraction of what it would cost if they were to utilise their own strategies via other channels,” said Joust CEO, Carl Hammerschmidt.

“The initial feedback we have had on the quality of customer from our launch partners has been extremely positive."

LoanMarket franchisee and initial partner for Instant Match, Michael Chadwick, was among those who expressed the sentiment. 

 "I find most Joust customers that come through the Instant Match solution are actively looking to do something and are expecting a phone call from me to discuss loan options with them,” he said.

“This has been a good solution to help drive business volumes now as well as build a database of active customers to write business in the future.

"I find Joust customers convert at a higher rate than the other providers I have used which is generating more revenue & a much better ROI for my business.”

Chadwick also highlighted the good experience he has had with the “helpful” team at Joust thus far. 

“They have a genuine desire to work with me as a business partner and help our business grow good quality enquiries and convert those to sales,” he said.

Instant Match was created to present a digital route to market which enables lenders and brokers of all sizes to compete on a level playing field, with a reduced time and capital commitment still achieving strong digital reach.

“Instant Match allows us to provide commercials that scale well with larger practices with a marketing budget to match, as well as smaller firms,” said Hamerschmidt.

“A budget of $3,000 will gain greater reach and ROI through Instant Match than with other digital channels.

“[However], our new platform not only provides a stronger digital route to market for lenders and brokers, but the main priority is ensuring the right customer is being offered the right loan at exactly the right time."

Currently, Joust supplies home loan opportunities of more than $300m per month to its mortgage broker partners and direct lenders.