It has been more than eight months since the royal commission report was released – and a new survey has shown that broker sentiment is on the rebound.
Data from MyState Bank revealed that currently, over two-thirds of brokers feel ‘positive’ or ‘very positive’ about their business.
Tony MacRae, general manager of MyState, said that the current sentiment is a “far cry” from when the commission’s findings were released – when one in three brokers said they were considering exiting the industry.
“Australian consumers have long valued the experience and choice that mortgage brokers provide,” MacRae said.
“While the broking industry went through a difficult period in February, brokers have been able to remain focused on their clients and continue to deliver unparalleled service and choice to Australian consumers.”
Another sign of the surge in positivity among brokers is the 92% who indicated their belief that the 60% market share brokers currently possess will either be maintained or increase over the next five years. Further, according to current broker perceptions, mortgage customers are also more confident despite the tightened lending environment.
“Mortgage brokers believe their continued strong foothold in the market will be driven by their strong value proposition of providing customers with value, convenience, choice and advice,” said MacRae.
