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Simon Parker
Every LJ Hooker real estate office will have a mortgage broker aligned to them, according to plans announced by the real estate group’s finance division.
“The overarching strategy for LJ Hooker Finance is to ensure that there is a broker aligned with each of LJ Hooker’s over 550 real estate offices around Australia,” said Peter Bromley, head of LJ Hooker Finance.
LJ Hooker Finance said its own broker network has been growing steadily throughout 2011, increasing by 15 per cent in July and August alone.
As part of this growth, LJ Hooker Finance has extended its reach in the mortgage space, signing an aggregation agreement with Australian Finance Group (AFG).
AFG provides aggregation services to around 2,500 mortgage brokers nationally.
The move complements LJ Hooker Finance’s renewal of its continued long term agreement with mortgage aggregator PLAN Australia, and is designed to provide LJ Hooker Finance with the ability to enhance its reach into every state and territory, including the AFG broker network.
“Brokers can now join LJ Hooker Finance, whether they are an affiliate with PLAN Australia or AFG. This will significantly support and galvanise LJ Hooker Finance’s growth strategies,” Mr Bromley said.
Earlier this year, independent real estate agent group First National also joined with AFG in a deal which sees First National agents referring business to AFG-supported mortgage brokers.
“The complexity of mortgage products and their ever changing nature means that only brokers with a broad panel of lending options can provide balanced advice,” First National chief executive Ray Ellis said in February.
“Even the most seasoned property investor would find it difficult to stay on top of the ever changing range of products available."
PLAN Australia chief executive Trevor Scott said LJ Hooker Finance and PLAN Australia enjoy an excellent partnership which has seen both businesses enjoy solid growth over a long term.
“As consumers embrace the move to a licensed industry, we expect increased consumer support of mortgage broking will deliver strong growth to recognised brands such as LJ Hooker Finance. PLAN Australia is happy to support LJ Hooker Finance in capitalising on this growth,” he said.
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