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One of Australia’s largest broker groups has revealed plans to recruit another 100 brokers in response to strong growth in borrower enquiries.
Loan Market sales director Mark De Martino said the group’s ‘elite’ and ‘high achiever’ brokers had been crying out for help to manage an increase in leads from sister company Ray White.
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He estimated that Loan Market might have to recruit another 100 loan writers this financial year to meet the demand of those top brokers alone.
He added that some of these brokers planned to add rookies to their businesses, while others wanted to recruit existing writers.
Mark De Martino told The Adviser that the Ray White leads could help brokers potentially “double their businesses” if they switched to Loan Market.
He also said that Loan Market was also keen to tap into the growing Chinese market, with some brokers requesting staff who could speak Mandarin or Cantonese.
Some Ray White offices had reported that Chinese now represented 60-80 per cent of the people attending auctions and open houses, he added.
“That’s a lot of people being ignored if you can’t speak the language,” he said.
Mr De Martino stressed that quality was just as important as quantity when it came to recruiting.
“When you’re introducing brokers to real estate principals and agents, you don’t get too many chances,” he said.
“This has got to be a hard club to get into, otherwise we’re going to mess up relationships.”
Mr De Martino said Loan Market’s home loan settlements in the first half of the calendar year were 25 per cent higher than the year before.
[Related: Loan Market makes Top 25 Brokerages]
