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ISCOVER
Staff Reporter
PLAN Australia has forecast a surge in commercial loans over the year ahead.
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According to the national members’ survey, 31.7 per cent of PLAN Australia members intend to write commercial business for the first time in the year ahead, highlighting the momentum towards diversification and broker recognition of its business benefits.
PLAN Australia chief executive Trevor Scott believes that this finding reflects in part the establishment of the group’s equipment referral program, which helps members to diversify into, and increase revenue, through utilising the assistance of PLAN Australia’s specialist business writers.
The referral program essentially allows members to outsource their clients’ commercial lending requirements safely in the knowledge that they’ll be well serviced and advised, while still owning the client relationship.
The increase in interest in commercial lending also aligns with heightened investment in commercial professional development days – which gives members the opportunity to further enhance their skills and share knowledge with industry peers and colleagues.
“While brokers can still generate satisfactory revenues concentrating on residential business alone, there’s great scope to increase income by product diversification: offering a broader range of products, such as commercial and business finance,” he said.
“Commercial lending as well as equipment and cash flow finance does require some adaptation to a broker’s skill set, however this is a sector available to all brokers, and PLAN Australia can provide the support and backing to enable brokers to pursue these new opportunities.”
