Aggregator breaks into new industry

Under the terms of the joint venture, brokers – both with Vow and elsewhere  – can form a relationship with an RE/MAX franchise in order to source new leads.

“As part of the joint venture, we share all the expenses with RE/MAX – which I believe shows great commitment from both parties,” he said.

“This is not an alliance or referral partnership, it is a joint venture. As such, brokers will join the RE/MAX franchise and work with the estate agents to write a full range of financial services for home buyers.”

Mr Brown said he was hopeful the joint venture would give Vow a bigger presence in Queensland, where RE/MAX is currently very strong.

“The benefits of the joint venture are two-fold: Firstly, RE/MAX franchises are predominately based in Queensland and this is an area that Vow really wants to grow into.

“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.”

Mr Brown said Vow was aiming to have at least 12 brokers aligned with the RE/MAX franchises before year’s end.

RE/MAX Australia’s managing director Michael Davoren said he believed the relationship would benefit agent, broker and borrower.

“A big part of the role of a real estate salesperson is to make the selling and buying processes for their clients as easy as possible. Helping to facilitate the financial element is critical to those processes. We see a long-term, integrated relationship with Vow will be hugely beneficial to both the real estate agent and the finance broker as well.”