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Jessica Darnbrough
Brokers that offer advice and guidance around investment properties would do well to own an investment property themselves, one industry stakeholder has claimed.
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Speaking to The Adviser, LJ Hooker Financial Services general manager Peter Bromley said if a broker doesn’t go through the process of obtaining an investment loan themselves, then they don’t fully understand everything the customer goes through.
“I think in any industry, people take what they do for granted, and broking is no different. Writing a loan is just about completing another transaction,” Mr Bromley said.
“What brokers often forget is that there is a person behind that transaction and, for them, it is the biggest decision they will ever make. If brokers don’t go through the process themselves, then they can never truly understand all the various nuances involved in the process.”
Mr Bromley’s comments come just a week after The Adviser ran a straw poll asking brokers whether or not they own an investment property.
Interestingly, the vast majority said they do.
Of the 374 brokers polled, 63.4 per said they did own an investment property, while 36.6 per cent said they did not.
