Property managers looking to grow their business and service offering have been urged to consider working closely with mortgage brokers.
Tim Reynold from Accession Finance says property managers are often inundated with their day-to-day duties and overlook the benefits of good working relationships with brokers.
“Through working with a mortgage broker, a property manager can extend their support and offer tenants the ability to get into their own home,” he told RPM.
“At the other end, property managers can help landlords obtain a better deal through refinancing or even help grow their portfolio with an additional purchase.”
Mr Reynolds said creating a working relationship with mortgage brokers can also help property managers build stronger relationships with their client base.
“There is rarely cause to contact a landlord when things are going smoothly, so this can be a friendly additional service that they offer with minimal workload,” he said.
“Depending on the business, they may also be eligible for additional income through referring sales onto the agents.”
Property managers looking to work with mortgage brokers should ensure they share the same values, Mr Reynolds noted.
“One thing is for sure, property managers are dedicated to the clients and so we need to show the same passion,” he said.
“My suggestion would be to arrange a time to sit down, grab a coffee and get to know each other first because the idea of ‘additional work’ may overwhelm them and mutual success [may] never [be] achieved.”