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LJ Hooker Home Loans plans to recruit a network of hungry brokers to drive a 40 per cent growth spurt.
The group currently has almost 50 franchises across all states, but would like to increase that number to about 70. That target should be reached within a year, said national sales and recruitment manager Darren Manson.
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LJ Hooker will only recruit ambitious candidates who would bring in $5 to $10 million of loans per month, he added.
Mr Manson told The Adviser that the growing property market is helping LJ Hooker’s real estate agents generate an increasing number of leads for its mortgage brokers.
However, the group needs to recruit more brokers to meet that growth – and will only entrust those leads to candidates who are prepared to work them hard.
Mr Manson added that LJ Hooker would likely cap franchise numbers around the 70 mark because that seemed to be the maximum number that could be sustained by its lead generation network.
“We only have a limited number of opportunities available. We don’t aim to have 200 franchises across Australia because it doesn’t suit our model,” he said.
“Our model is to go for a limited number of high-quality, performing franchises. We really target people who want to grow a business rather than people who want to write $1 to $2 million of mortgages per month.”
Mr Manson said he wants to recruit mortgage brokers who are keen to start their own business within a solid support structure. Other targets include accountants who could add a home loans arm to their business, he told The Adviser.
LJ Hooker not only guides franchisees when they start their business but also helps them devise an exit strategy for when they decide to sell.
Mr Manson was promoted earlier this month from Queensland state manager to his newly created role.
