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Jessica Darnbrough
Brokers should be writing 15 to 20 loans a month in this economic environment, MoneyQuest’s Gill McLean has said.
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Speaking at the MoneyQuest launch in Sydney yesterday, the company’s joint managing director said brokers were being “weighed down” by the National Consumer Credit Protection Act and the additional paperwork that has stemmed from the legislation.
“They are spending hours working on each client,” she said.
“This is not a good use of their time.”
Ms McLean said MoneyQuest had the software to help brokers cope with the increased compliance and could “significantly reduce” the amount of time they spend on administrative duties.
“Brokers should be writing between 15 and 20 deals a month and MoneyQuest will help them do that,” she said.
Software aside, Ms McLean said the company's branding would also help drive business to brokers via online leads.
“As we head into the future, branded businesses will become more commonplace and more sought after," she said.
“The mortgage industry will head the same way as the real estate industry. In the past there were a lot of independent businesses. Today, there are a few big brands that control the market. I’m not saying there isn’t a place for independent businesses, I just believe there are better business benefits for brokers that align themselves with a brand.
"We can porvide our broker partners with strong leads in their local market.
“We want to achieve a conversion ratio of at least 25 per cent with our leads.
“That is the conversion ratio that Aussie and Mortgage Choice achieves, so we are setting that as a minimum benchmark.”
