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Choice Home Loans has announced a strategic partnership with real estate network PRDnationwide, in a move that highlights the “fundamental component” of referral partnerships across both industries.
A recent Choice Home Loans survey revealed the importance brokers place on referral partnerships, with 92 per cent “keen to establish more partnerships”.
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Choice Home Loans CEO Stephen Moore said the results of the survey showed “referrals are by far the most powerful source of business for brokers, but that building referral partnerships can be tough due to the time investment required”.
The new alliance with PRDnationwide was made to allow Choice Home Loans franchisees to forge “mutually beneficial” referral partnerships with PRD’s national network of agents, while allowing the expansion of PRD’s new online service to “include access to trusted finance brokers for clients”.
Tony Brasier, PRDnationwide chairman and managing director, said the alliance would be a “win-win for both businesses”.
“Referrals are a fundamental component of both real estate and mortgage broking success. Through this alliance, our agents will benefit from being able to offer clients a quality finance solution, while Choice Home Loan brokers will have a quality partner to whom they can refer their clients’ listing and property management needs,” he said.
Mr Moore added that the two firms had “a strong cultural alignment” and that both businesses had “a strong focus on best practice sharing via peer-to-peer learning between franchisees”.
“We are offering brokers the best of both worlds – personal partnerships as well as access to innovative digital referral opportunities,” he said.
The PRDnationwide alliance is said to be the first of many strategic referral partnerships Choice Home Loans hopes to build, with more announcements likely to be made within coming months.
“This partnership is part of a new business strategy to transform the way we provide leads to our valued franchisees,” said Mr Moore.
“We’re listening to our brokers and investing in relationships designed to help them further grow and flourish.”
[Related: International aggregator partners with NLG Leasing]
