A brokerage based in Sydney’s eastern suburbs has announced its expansion into greater Sydney with the help of a real estate group.
Loan Market’s Double Bay brokerage, operated by brokers Daniel Pym and Tommy Nguyen, has expanded into the southern and inner-western suburbs of Sydney, partnering with Ray White’s Surry Hills, Alexandria, and Erskineville agencies in a move designed to diversify its client base.
“The corridor from Alexandria through to Erskineville is more transactional than the eastern suburbs, even though it’s only 15 minutes down the road,” Mr Pym said.
“Strategically, we’re going into quite a different marketplace: a higher volume of first home buyers; borrowers perhaps don’t have a close relationship with a personal banker; and the market’s at a more affordable price point.
“We believe the area’s fundamentals and the renewed market confidence will enable a $100 million business in coming years.”
Managing director of the Ray White agencies, Peter Natoli added: “Across the Ray White businesses we have sales, property management, projects and a commercial division. Having Loan Market’s services available enhances our offering to clients, opening up more options to them.
“Having these services also introduces pre-approved customers to a range of opportunities that may suit their property goals.”
Mr Pym also noted the importance of the broker-agent relationship, particularly in light of the current credit environment.
Despite current market conditions, Mr Pym said Loan Market Double Bay had increased its settlement volumes by 20 per cent.
“I think our results have come down to being able to define our value proposition,” he added.
“Brokers fight tooth and nail to get the client and the onus is on us, once we win the work, to justify the decision of our clients.
“Last year we renegotiated all our clients to better outcomes, which is just one of the ways we’ve added value in the broker-customer relationship.
He concluded: “From FHBs in the inner-west to developers and investors getting in at the ground floor around the rejuvenations of areas throughout south Sydney, we see a great opportunity to provide premium financial services in the new venture.”