Non-bank calls for better lender/broker relations

by Madison Utley28 Feb 2020

A non-bank executive has encouraged lenders and brokers to take every effort to work in harmony, ensuring consumers have a positive experience at every stage and are not left with a negative impression of the home loan process.

“Lenders should work alongside brokers to ensure a seamless transition for the customer. A positive broker experience, backed by a negative lender experience, or vice versa, could actually leave the customer with a negative view of both parties,” explained Liberty national sales manager John Mohnacheff.

“Customer service has always been a cornerstone of the broking industry, but expectations have evolved.

“Today’s customer expects a high level of fast, flexible and personalised service. If you don’t meet their needs, they won’t hesitate to walk away.”

Technology, at both the broker and lender level, is crucial to delivering the speed now expected by customers; however, Mohnacheff warned, it should be used as “an aide, not a crutch”.

“Many brokers are time-poor, but there is a whole world of tech options designed to save time. However, for you to see any measurable value in this, it’s important to reinvest the hours you save back into your business,” he continued.

“While it’s easy to start relying on digital marketing alone to bring in leads, getting out there and remaining active in your local community is essential to broker success.”

Whether pursuing new leads, meeting with possible referral partners or gathering feedback on service provided, it’s absolutely essential brokers are having “open and honest dialogues” with their customers to get an accurate read on how they’re doing and how they could improve.

The non-bank exec acknowledged lenders also hold a substantial portion of the responsibility in creating an entirely positive home loan experience for consumers. 

“Liberty works closely with our broker network to ensure we are delivering the best service possible. As part of this, our teams all work to competitive service time frames to help process applications without unnecessary delays,” said Mohnacheff.

“We have a dedicated team of BDMs ready to discuss scenarios, talk through applications and provide clarification on what is required to progress.

“And, with direct access to our underwriting teams, brokers can always count on Liberty to provide the guidance and support needed to secure complex deals and achieve positive customer outcomes.”