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House + Home Loans’ managing director Rael Bricker says an eye for numbers is key to success as a broker
House + Home Loans was among the brokerages that landed a coveted spot on Mortgage Business’ Top 25 Brokerages list for 2009.
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A relatively young business in the industry, House + Home Loans has emerged from relative obscurity a couple of years ago to transform itself into one of Western Australia’s best performing brokerages.
Its success can be largely attributed to managing director and broker Rael Bricker.
Of the 3,500 loans that have already been settled by House + Home Loans, more than 2,000 are on Mr Bricker’s books. He currently writes $57 million in loans annually on average – a target he aims to beat over the coming 12 months.
But Mr Bricker says his success is down to more than just his ability to bring in business. A broker for eight years, he credits his achievements to strong relationships with his referral partners as well as his dedicated team of employees – most of whom are finance professionals.
Mr Brickers says understanding the language of finance is critical to a broker’s ability to secure the best deal for a client. And while his brokers do use broker software, he says their relatively small reliance on such tools sets House + Home Loans apart.
“My staff understand numbers, they are financially literate and don’t rely on broker tools to source the best product,” Mr Brickers says.
Leads from referral partners have also been an important factor in the success of House + Home Loans. “Because I specialise in the investor sector, I think it is important to have strong referral partnerships with investment organisations,” he says.
Five years ago Mr Bricker says referral partner leads were responsible for approximately 85 per cent of his business.
“That’s down to about 30 per cent now, not because there are necessarily less opportunities but because the initial leads provided us with the impetus to drive the company and now a lot of our business is generated through word of mouth.”
And business is booming at the moment, with the investor market representing rich pickings. Mr Bricker says after retreating from the market, investors will step back in to fill the void left by first home owners when the government grants cease at the end of the year.
“In the last 12 months I have seen an increase in the number of investors returning to the market. I think this is likely to grow even further in the coming months because rental yields are relatively high and interest rates are relatively low.”
In May investor finance reached positive territory for the first time since the property boom began to cool in January 2008 – rising 1.3 per cent year on year.
“I think the market has some strong growth ahead of it and I can see us heading back to where we were pre the 2007 madness. I am predicting a return to normalcy,” he says.
In recent months, Mr Bricker has started to take a step back from the broking side of the business to focus more on business development, including hosting seminars and conferences in Western Australia to raise awareness of the House + Home Loans brand.
“For me, it is not just about how many home loans I can write but about building a sustainable business and generating leads for my staff.”
Apart from conferences and seminars, Mr Bricker says his brokerage is also very active in the local community, using sport sponsorship deals as an opportunity to push brand awareness.
“It is imperative for mortgage brokers to have a notable presence in the local community,” he says. “Building brand awareness via a youth sports group can be an effective way of pinpointing your target audience, after all, a mortgage broker’s bread and butter comes from their community.”
Mr Bricker says it does not take a marketing genius to realise that people are more likely to buy stuff from people they know, feel they know, or from a brand they trust. While unfortunately, there are no broker guidelines focusing on how to build a relationship with the local community, Mr Bricker says: “It takes persistence, a combination of activities and a always approachable nature.”
