Speaking on a panel at a recent Aussie Home Loans sales conference, the McGrath Estate Agents chief executive warned brokers that working with agents is “harder than it looks”.
“Agents are busy, they are focused on their deals and they don’t want too much rejection by recommending brokers and so forth,” he said.
“My view is that a total solution going forward is key; every agent in your community should have a mortgage broker on their speed dial.”
Mr McGrath said it is critical for agents to partner with a “world-class mortgage broker”, but added that the relationship is difficult for brokers to initiate and manage.
“You've got to crack the code, because agents are busy; there’s ego there, so you've got to find a way in,” he said.
“But once you do, there’s the potential for them to give you 20, 30, 50 leads a month and potentially double or triple your business. It’s a good thing. Agents and mortgage brokers need to come closer together.”
Oxygen Home Loans, which is owned by McGrath Estate Agents, has been in business for 11 years and employs 22 brokers across NSW, Victoria and the ACT.
Oxygen general manager Alan Hemmings said lead generation is the main benefit to being attached to a real estate group.
“As property and finance go hand in hand, it is only natural to have a broker as part of the business to make the transaction process for a buyer as seamless and as easy as possible,” he said.