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One successful loan writer has discussed the advantages of tapping into new revenue streams to shore up his brokerage’s income in the coming years.
When asked on The Adviser’s Elite Broker podcast how he thinks things are going to play out in the market for 2017, Graeme Salt of Origin Finance said he is still “very positive” about property in general.
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“[However,] we as a group are starting to think about, ‘OK, at what point does the property market cool and what does that mean for our brokers?’”
Mr Salt said he believes the property market is not going to continue growing.
“We’re aware that there may be some areas where there will be a price collapse.”
In anticipation of such a scenario, his business is focusing on other revenue streams “to firm things up” for its brokers for when the market calms.
“Looking at insurance is one option,” Mr Salt said, adding that seeking out new revenue streams and developing more referral relationship are also important when it comes to his business’ duty of care towards its clients.
“If we can just get a few [referral relationships] where we get a few occasional quality leads for our brokers just to keep tiding them over, during what will be a few quieter years going forwards.”
Mr Salt is the director of the Futurus Group, which encompasses Origin Finance, Chan and Naylor Finance and Walker and Miller Training.
[Related: How a joint venture expanded this broker’s business]
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