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The majority of brokers across the aggregator’s network have reportedly achieved a perfect net promoter score in the financial year 2024.
Loan Market has announced the majority of brokers across its network achieved a perfect Net Promoter Score (NPS) in the financial year ending 30 June 2024 (FY24).
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In FY24, Loan Market saw 623 brokers across its network – representing 93 per cent of all Loan Market brokers – achieve a perfect +100 NPS.
This result saw the aggregator’s average NPS rise to +99 from +98 in the financial year ending 30 June 2023 (FY23).
An NPS gauges customer satisfaction based on responses to a survey that are fed into a formula. The result is a single figure that companies can use for benchmarking.
David McQueen, Loan Market CEO, said its brokers had been focused on providing “unmatched service to customers”.
“We don’t just help customers find finance solutions that meet their best interests, we educate, improve our clients’ financial literacy and take the stress out of a loan application through regular communication and updates,” McQueen said.
“Our industry is all about relationships. We provide brokers with the tech to stay safe and save them time so their client-relationships are long-lasting and evolve with their changing needs.”
Nitish Kumar, Loan Market Canberra principal, said strong communication has been “at the heart of how we care for our clients”.
“Communication is the first thing you need to get right with clients,” Kumar said.
“If you don’t commit to regular communication in the client journey, it’s very hard to have a happy customer at settlement time.
“If our brokers are too busy to update the customer on the progress of an application, one of our CSMs (Client Service Managers) will step in and provide an update. Even if there’s no real news to share, it’s still important to let the customer know we’re on the case and that we haven’t forgotten about them.”
Brokers providing value for customers
Recently, the Mortgage & Finance Association of Australia (MFAA) announced mortgage brokers’ market share had reached a record high, suggesting brokers have been doing a good job providing value to their clients.
In the three months to September 2024, mortgage brokers wrote 74.6 per cent of all home loans, up from the previous record of 74.1 per cent achieved during the March 2024 quarter.
MFAA CEO Anja Pannek said: “This result continues to highlight that mortgage brokers are the preferred choice for borrowers navigating today’s complex lending environment. We know mortgage brokers are providing personalised guidance and support throughout the home loan journey, empowering borrowers to make informed decisions.
“Australians are choosing mortgage brokers because of the trust they’ve built with their clients and the broad support they offer.”
[Related: Brokers writing record 74.6% of home loans]
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