Given the volatility and unpredictability of Australia’s current lending environment, demand from mortgage and asset brokers for up-to-date information and education from lenders has "exploded", according to Connective.
The sharp uptick in demand has been exhibited in the attendance for the group’s digital learning and development program multiplying by four times the previous year, including for the Lender Splendour event being held this week to communicate lender updates, news and resources.
“When we made the decision to quickly move our educational seminars into a digital format in response to the outbreak of COVID-19, the immediate uptake by brokers was staggering,” explained Connective executive director Mark Haron.
“The digital learning and development program soared in March and some of our newly adapted virtual events saw up to a 400% increase in registrations. We recognised that there were so many things changing especially in regards to lender policy and COVID relief policies and we knew it was crucial to keep our brokers were up to date.”
Haron said that in his 24 years in the industry, he has never seen such strong broker appetite for education.
“Our Digital Lender Splendour event in April was such a success that we’re bringing it back in October. But we’re not resting on our laurels. We’re updating and adapting our L&D programs as quickly as we can and the digital format provides more agility for us to pivot if we need to, to bring the absolute most up-to-date insights and updates to our brokers,” Haron added.
“The smooth and efficient flow of information between lenders and brokers is more critical than ever, which is why we’re providing opportunities for our lender partners to connect with our brokers in a digital environment to provide their latest information on products and policies, and news on tools and resources to support brokers and their clients.
“We’ve been able to deliver over 75 hours of additional, lender focused content with an emphasis on opening up more lines of communication between lenders and brokers. We have several avenues now for brokers to speak directly with lender BDMs and get the lender specific information and guidance directly from the source which they can immediately share with borrowers.”
To the aggregator head, the necessity of creating and communicating timely education has never been more clear.
“The flow of credit is going to be one of the most significant factors in Australia’s economic recovery, and we intend to work tirelessly to make sure brokers have the education and resources they need to help facilitate that flow of credit. Most of the industry agrees that brokers will play a major part in helping the housing market recover," Haron said.
“It's been inspiring to see the industry adapt to these incredible challenges."
