‘Strong interest’ in commercial lending upskilling: Marketplace Finance

The survey drew responses from 102 mortgage brokers between September and December 2023, 82 of which responded with interest in upskilling.

Dino Pacella, head of third-party relationships at Marketplace Finance, said: “These results reaffirm the importance of ongoing commercial education in our industry.

“Brokers are recognising the need to stay ahead of the curve and enhance their skills to navigate the dynamic landscape of commercial lending.”

Looking particularly at commercial lending, 67 brokers (65 per cent) expressed interest in gaining further industry insights, while 16 per cent said they are considering it.

However, 17 per cent indicated no interest at all, which according to Marketplace Finance, highlighted the potential value of “exploring market potential to shape perspectives and open new opportunities”.

Mr Pacella added: “Deep diving into market data and understanding competitor strategies can provide valuable insights for strategic decision making.

“Brokers should remain open to exploring industry insights to stay competitive in a rapidly evolving market.”

Additionally, 61 per cent of brokers indicated marketing and content support as a significant interest, with 21 per cent of those being open to the idea, but said they required further education.

“Setting achievable marketing goals and equipping oneself with the right tools are essential for professional growth,” Mr Pacella said.

“Our findings emphasise the importance of a robust content strategy and the need for ongoing education to navigate the complexities of marketing in the financial sector.”

A further 16 per cent of respondents said they were uncertain about pursuing marketing and content support, which has highlighted a need for clarity on industry trends.

Mr Pacella stressed the importance of understanding consumer behaviour and “developing a robust content strategy for successful marketing initiatives”.

“Consumer behaviour insights and a well-crafted content strategy are indispensable in today’s competitive landscape. Brokers should harness industry trends to make informed decisions and stay ahead,” Mr Pacella concluded.

Data released by the Mortgage & Finance Association of Australia (MFAA) in its Industry Intelligence Service Report found that mortgage brokers writing commercial loans increased 8.67 percent to 5,864, which marked the second-highest figure on record.

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