Following a period marked by economic uncertainty, 12 Australian brokerages accomplished an exceptional feat: achieving more than 20% growth in combined revenue and settlement volume.
Australian Broker and Liberty, sponsor of Australia’s fastest growing mortgage brokerages for 2023, sat down with some of the broking leaders to unlock the secrets to their success.
In the case of Shubham Bhaskar, director at Sheel Capital and Jonathan Mosslar (pictured above left), managing director at Marquette Financial, not only were they able to achieve a staggering 20% growth, they also made it after having been in business for less than three years – earning them the additional honour of being crown fast starters.
Bhaskar, reflecting on their journey, emphasised the power of demystification in their growth strategy.
“So, we've really tried and married to the fact that we can't just be the residential homelands brokerage, we need to be able to offer more products to our customers diverse range of products, which will basically be commercial loans, probably as well as property development as well. And at the same time offer asset finance and car loans, etc.,” he said.
The comprehensive portfolio caters to a diverse range of customers with varying loan amounts, enabling them to provide tailored support and services, while at the same time, creating multiple revenue streams for their business.
Mosslar, on the other hand, attributed his fast growth to an internal focus on team dynamics. Setting high expectations from the start, he instilled a culture of excellence within his team.
“We set the expectation that okay, we've got a certain amount of lodgements and settlements we do each month, that's our baseline, rather than letting him sort of slowly grow in and get bad habits from there,” Mosslar said.
The team also decided to serve the higher end of the market, targeting investors and self-employed clients.
“We've really done a lot of marketing and pushing out to our referral partners to try and service that part of the market just as the markets changed to push towards those clients,” Mosslar said.
Another winner of Australia’s fastest growing mortgage brokerages, Nathan Smith (pictured above right) of Birdie Wealth, meanwhile, revealed the pivotal role culture played in their growth.
“So, a lot of our marketing wasn't just targeted at clients, it was actually targeted showing the culture and the people behind the business,” Smith said.
“And from a broking perspective, they felt like that was the place that they would feel psychologically safe to turn up every day. And it also meant that it was a business whereby they could focus on sitting down and writing loans and have a processing and marketing engine built in behind them to manage that part of the business for them.”
For the complete list of Australia’s fastest growing mortgages, click here.
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