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In a bid to broaden its service offering, RE/MAX Australia has launched a new finance arm.
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The launch of Australian Property Finance (APF) comes just weeks after the real estate group announced it had entered into a joint venture agreement with Vow Financial.
Under the terms of the joint venture, finance brokers will trade as Australian Property Finance and work with RE/MAX agents to write a full range of financial services products for home buyers.
“Australian Property Finance will be our preferred partner in lending and other financial matters,” RE/MAX Australia managing director Michael Davoren said.
“Vow Financial is committed to helping its brokers grow their business and saw the joint venture with us as a way to add value while strengthening the position for their brokers.
“Working collaboratively, the partnership between finance and real estate – between finance brokers and sales agents – means an expanded quality service for consumers.”
Australian Property Finance’s newly-appointed chief executive, Nathan Swain, said the company was not relying solely on the Vow Financial network for finance brokers and was keen to recruit experienced brokers from elsewhere.
“Joining APF means a broker is backed by Vow, one of Australia’s biggest mortgage aggregators, rather than acting independently, and there is great attraction in being affiliated with RE/MAX, a global real estate company,” he said.
“These two factors are valued by finance brokers seeking security and longevity.”
APF services span insurance, wealth creation, legals and leasing; and finance brokers will advise new and refinancing borrowers on commercial, residential and personal loans.
It is planned to have at least a dozen APF finance brokers aligned with RE/MAX franchises by the end of the year.
Tim Brown, CEO of Vow Financial, said the benefits of the joint venture were two-fold: “Firstly, RE/MAX franchises are predominately based in Queensland and this is an area that Vow really wants to grow into,” he said.
“In addition, the joint venture will provide brokers with a new source of business leads. This is another value-add for brokers and, at Vow, we are committed to helping our brokers grow their business.”
