Loan Market has announced plans to expand into the Indonesian mortgage market as it focuses on key partnerships with real estate agents at home and abroad.
Speaking to The Adviser, Ray White director and Loan Market chairman Sam White confirmed that the broker group is looking at new markets.
“Ray White is already in Indonesia and we are looking at expanding Loan Market into Indonesia later this year,” Mr White said. “So we see some geographic growth occurring for us."
Ray White's strong presence in Indonesia includes 100 real estate offices throughout the country.
Outside of Australia, Loan Market has a business in New Zealand and one mortgage broker based in Hong Kong, who primarily services Australian mortgage holders.
However, the brokerage’s Indonesian business will focus on local mortgage transactions for the local population, Mr White said.
The news comes as the group looks to ramp up its referral partnerships between Ray White agents and Loan Market brokers.
Mr White, who grew up through the family business with exposure to both professions, said good agent-broker referral relationships are based on a few key principles.
“The relationship part is important,” he said. “There is an expectation from the agent that if I give you this name and number of someone I have worked hard with, I expect my relationship with that customer to be enhanced because of your involvement.
“Agents expect the customer to be looked after, they expect the broker to be diligent, reliable, and responsive and to be working when the agent is working.”
Mr White said the biggest challenge to effective referral relationships is consistency.
Next week the group kicks off its new referral initiative – an event to promote the benefits of partnering with Ray White agents.
James Mitchell has over eight years’ experience as a financial reporter and is the editor of Wealth and Wellness at Momentum Media.
He has a sound pedigree to cover the business of mortgages and the converging financial services sector having reported for leading finance titles InvestorDaily, InvestorWeekly, Accountants Daily, ifa, Mortgage Business, Residential Property Manager, Real Estate Business, SMSF Adviser, Smart Property Investment, and The Adviser.
He has also been published in The Daily Telegraph and contributed online to FST Media and Mergermarket, part of the Financial Times Group.
James holds a BA (Hons) in English Literature and an MA in Journalism.
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