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ISCOVER
Staff Reporter
Proving mortgage broking has a place now and well into the future, Mortgage Choice loan books are currently selling for three times net trail.
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According to a statement from the brokerage, Mortgage Choice sold 20 greenfield franchises and 13 existing franchise businesses.
Speaking about the sales, Mortgage Choice chief executive officer Michael Russell said the business is continuing to see a steady flow of new talent joining the franchise system.
“This augers well for the sustainability of our business and the industry as a whole,” he said.
“Our franchise businesses continue to lead the industry in terms of productivity, performance and value. With respect to our exiting franchises in FY12, many were sold for multiples of three times net trail.”
“It is tremendously rewarding for the brand that not only are we attracting quality new franchise owners, but we are providing them with a system that upon exit, provides them with industry leading sale prices.”
