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ISCOVER
Staff Reporter
Mortgage Choice has issued a strong warning to the nation’s other brokerages, stating it is now “game on” as the company looks to aggressively and actively grow its market share over the coming three years.
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Speaking at its annual results presentation in Sydney yesterday, Mortgage Choice chief executive officer Michael Russell said the company had recently completed its DREAM strategy and was ready to enter a new business phase entitled ACT.
“ACT stands for acquire, cross-sell and transition. We plan on acquiring a greater market share through an upcoming marketing campaign which will focus on ‘call to action’ consumer messaging.”
As part of the ACT strategy, Mortgage Choice will launch a new sales mission in all of its state offices entitled “Game On”, which highlights the company’s eagerness to grow its share of the home loan market.
According to results released yesterday, Mortgage Choice’s market share has already seen steady growth, with its annual share of home loans rising to 4.6 per cent – the highest figure the company has recorded since 2006.
In addition, the company's loan book, both in the franchise network and aggregation arm LoanKit, reached $45.1 billion – up 6.4 per cent on the year before.
“In a market of consumer conservatism and subdued credit growth, we are very pleased to report healthy revenue, lower operating expenses and improved broker productivity,” Mr Russell said.
Moving forward, Mr Russell said he was bullish about the future, especially as Mortgage Choice looks for additional growth opportunities to bolster core business and transition the brand into a fully fledged financial services provider.
“Heading into our third decade in business, we will be focusing on attracting more customers and driving growth. The aim is to introduce our mortgage customers to an irresistible consumer proposition offered by our new financial planning business.”
