Login
ISCOVER
While one third of brokers think their business will go backwards in the next 12 months, a majority are more optimistic.
According to a recent poll conducted online by The Adviser, 30 per cent of respondents forecast their revenue will fall in the next 12 months.
To continue reading the rest of this article, please log in.
Looking for more benefits? Become a Premium Member.
Create free account to get unlimited news articles and more!
Looking for more benefits? Become a Premium Member.
Another 64 per cent said revenue would increase while 6 per cent said it would remain the same.
Three of the brokers willing to go on the record with their comments were all confident their businesses were set to grow.
Trustar Investment director James Wang said that a couple of months ago, the market was “too hot” for business, so clients were conducting fewer transactions with the Sydney firm.
“In 12 months, I think that prices will be more stable, and this means that there will be more people investing and refinancing,” he said.
Damon Nagel, managing director at Adelaide brokerage Ironfish, said a cooling market was not necessarily a bad thing for brokers because it could mean new opportunities.
“It’s about how you approach things. If you’re thinking it’s all doom and gloom, guess what will happen?”
He added that brokers who had mixed revenue streams tended to be more optimistic about the year ahead.
BaldwinWicks managing director Sam Wicks also felt diversification would protect his brokerage from the cooling Sydney property market.
“Obviously if there’s a cooling market we’ll have less activity, and less business,” he said.
“But we’re not just about property. We’re financial planning and broking, we don’t just rely on the activity of the Sydney property market.”
JOIN THE DISCUSSION