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Loan Market’s brokers have doubled the industry average in lodgements, the business has revealed.
Loan Market has announced its boosted broker performance, with each broker averaging $35 million in lodgements last financial year – more than double the industry average of $16.7 million with this growth being highlighted at the annual Scale Up Conference in Adelaide.
National director of Loan Market, Andrew Thompson, reported that the network’s expansion has been fuelled by strategic initiatives, including:
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- Lodgement success: Brokers achieved an average of $35 million in lodgements each, surpassing the industry average.
- Staff growth: The network welcomed 172 new loan writers and 448 support staff, both through office hires and the Outsource program.
- Lead generation: Marketing efforts resulted in nearly 60 qualified leads per broker.
- Settlement increase: The network saw nearly $1 billion in settlements, a 33 per cent year-on-year increase, driven by referrals from real estate affiliate Ray White.
According to Loan Market, a key factor in this growth was the introduction of diversification pathways into asset and commercial finance lending, alongside the new national leadership program Elevate.
Elevate aims to help high-performing brokers achieve Platinum status – the brokerage’s highest ranking.
The program, led by seasoned Loan Market leader Michael Karpathakis, focuses on transforming businesses by developing scalable and profitable growth paths.
“The program is led by longstanding Loan Market leader Michael Karpathakis and directly aligns with the promise to Loan Market and Partner businesses to help them grow,” Thompson said.
“Elevate focuses on real transformation. We look at what is at the core of each business and then help business owners develop their path to scalability and profitability.
“In its first year, Elevate has had an immediate impact with participating business owners recording a 45 per cent increase in monthly settlements in June, alone, and a 77 per cent increase in appointments booked.
“Elevate and other business building initiatives are helping our brokers achieve new-found levels of productivity and business sustainability. We’ve set a solid platform for even further growth in FY25.”
During the Scale-Up event, LMG unveiled the latest additions to its MyCRM platform: Deal Board; My Activities; and improved Workflows.
The new tools consolidate business management into a single platform, eliminating the need for double entry and reducing costs associated with external programs.
This integration ensures a seamless user experience and upholds high customer service standards through built-in processes.
[RELATED: LMG announces new efficiency tools]
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