Aggregator coaches set up brokerage

The two former aggregator coaches have now become co-directors of newly launched Mason Finance Group on the Sunshine Coast, operating under the aggregator’s Bring Your Own Brand (BYOB) offering.

Mr Mason had been a broker and director of Queensland-based brokerage SMS Finance before joining Loan Market as its first elite brokerage business coach earlier this year.

While he will continue to consult with Loan Market as a coach, he will be primarily focused on growing the new brokerage. 

Ms Spencer will be working at the brokerage full-time, with her previous role as Queensland’s growth manager being filled by former CBA relationship manager Samantha Barnett.

Speaking of the decision to open a new brokerage together, Mr Mason said: “Jessie and I both loved working with the Loan Market corporate team and the brokers: you receive support from the very top with (Loan Market Group executive chairman) Sam White and (executive director) Andrea McNaughton.

“But we both had the desire to get back to helping customers, and saw Loan Market’s support systems and tools as the best way to do that”, he said.

Since opening its doors last month, Mason Finance Group has hired six support staff and reportedly lodged $35 million of loans (settling $22 million in their first month and forecast to settle $30 million in their second). It has suggested it will be looking to recruit more support staff in the near future to handle strong mortgage demand.

Indeed, the Sunshine Coast has proved particularly attractive to home buyers during COVID-19, with many Australians eschewing the cities for lifestyle locations near the beach. This has underpinned annual price growth of over 20 per cent across the region.

Ms Spencer added: “Colin and I are very process-driven and that’s helped us make a strong start in the business.

“With the popularity of the Sunshine Coast, we knew we needed very strict processes to adhere to if we were going to capitalise on the demand from locals, interstate investors and even expats who are viewing a return to Australia once borders re-open.

“We’ve been servicing a lot of refinancing requests and a large number of pre-approvals. With the movement in the Sunshine Coast market over the last year, it’s very hard for buyers to get to the front of the line with agents if they don’t have a pre-approval.”

[Related: Loan Market hires broker as business coach]