ISCOVER
In an increasingly digital yet relationship-driven industry, mortgage brokers are sending a clear message to lenders: simplify processes, offer certainty, and invest in quality people.
Brokers have revealed what they most want from their lender partners, showcasing that while technology and speed of service are important, knowledgable staff that can answer broker questions quickly is paramount.
The Adviser recently hosted an Elite Broker roundtable, partnered by Bendigo Bank Broker, to understand the most pressing needs of brokers and how they believed lenders can empower them to better serve clients and grow their businesses.
A key theme emerging from the discussions was the need for operational efficiency, driven by good technology and coupled with good people.
Nicole Cannon, founder and director of Pink Finance, articulated the struggle with disjointed communication channels and technological hurdles.
“Navigating the different communication channels [and] two-factor authentication... there’s just a disconnect with this technology at the moment,” Cannon stated, emphasising how these issues hinder team growth and workflow management.
Trust, a cornerstone of successful partnerships, hinges on certainty and transparent communication. According to Cannon, brokers crave the assurance of a swift “formal” offer once questions are answered.
Christian Stevens, CEO of Flint, echoed this sentiment, stressing the importance of “doing the basics well”.
He called for consistency in credit and approvals and an easy end-to-end digital process.
“You’re going to sign one set of docs, you shouldn’t have to go back to the start every time you need to change something, or pick up the phone,” Stevens explained, lamenting the need to consult multiple individuals for the same outcome.
Furthermore, brokers said they wanted the ability to support their clients post-settlement via lender platforms, providing ongoing value and maintaining their role as the “source of truth”.
Leeanne Scott, owner manager at Mortgage Choice North Sydney/Lavender Bay, highlighted the critical issue of channel conflict, demanding that the “story is absolutely exactly the same” whether a client engages with a broker or a bank branch.
The human element was flagged as being of paramount importance to Theo Chambers, CEO of Shore Financial.
The Shore Financial broker stressed that “good people build any business”.
He warned of the impact of inexperienced business development managers (BDMs) providing incorrect advice, which can be “very damaging”.
Chambers, along with Tom Hawley, director of Azura Financial, advocated for experienced BDMs and assessors who genuinely care about the transaction’s outcome.
Hawley added that simple marketing, case studies, and regular contact help keep lenders “front of mind”.
Brokers are also seeking clear differentiation and preferential treatment.
Darren Little, GM of lending at Smartmove, emphasised the importance of lenders clearly defining their niches.
“What are you the best at?” he posed, suggesting that clarity in specialisation would naturally attract more business.
Greg Bloom, a broker at 1st Street Financial, expressed a preference for working with a “handful [of lenders] that can do it really well”. He questioned why banks aren’t offering preferential pricing to high-quality broker businesses, especially when service is already strong.
At the roundtable, brokers said they were not asking for revolutionary overhauls, but rather a refinement of core services.
They told the roundtable that they want lenders to streamline operations, provide dependable credit decisions, empower brokers with post-settlement client management tools, and invest in knowledgeable, supportive personnel.
By focusing on these fundamental aspects, lenders can foster stronger, more productive relationships with the broking community.
You can find out more about what brokers want from lenders and what was said at the Elite Broker roundtable, partnered by Bendigo Bank Broker, here.
[Related: Bendigo Bank’s strategic evolution: A focus on the broker channel]
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