Brokers ‘cannot afford to stand still’ in spring market

Mr Buchanan added that this differentiation will become more apparent during this spring period, emphasising that the changed interest rate environment is set to challenge brokers who are not thinking progressively.

“Brokers need to be planning ahead and looking at their aggregator to provide those essential tools. Because no one can afford to be standing still in this market,” he said.

“Leading edge technology is what brokers should be looking at to boost their performance [during] the annual spring buying time. Every year this particular market presents different challenges and this year is no different, which is why brokers need to look closely at how they can more effectively take advantage of their current aggregator offering,” Mr Buchanan explained.

Mr Buchanan advised brokers to do an audit to see which technology enhancements have been made to their aggregator’s platform since this time last year and decide how they can benefit.

“It may be that they now have access to a broader suite of research on property hotspots or the latest information on buying patterns and loan preferences. Alternatively, the broker may now have access to a greater range of products and services which will significantly improve their ability to cater to more of the financial needs of their existing clients, as well as new clients,” he said.

In saying this, Mr Buchanan emphasised that whatever technology platforms brokers choose should be considered from a client needs basis.

He also highlighted that new technology is only one part of the equation and that having a skilled and engaged back-office operation is just as necessary for brokers to thrive during the busiest periods of the year.

“The technology certainly provides the core asset for brokers to make servicing customers timely and effective, but having the right team in place behind the scenes is the other critical element,” he said.

[Related: Leading aggregator credits growth to technology]