Fresh research has revealed the nuanced reasons Australians are returning to brokers – and which cohorts prize what most.
Great Southern Bank (GSB), Australia’s largest customer‑owned bank, has released new research showing that clients value hands‑on guidance and end‑to‑end support most when deciding whether to return to or recommend a broker.
Guidance and support lead the loyalty pack
Broker-related questions from GSB’s recent No Place Like Home survey – exclusively revealed to The Adviser – showed that the leading reasons respondents said they would go back to, or recommend, their intermediary were being guided well through the process (41 per cent) and being supported all the way through (39 per cent).
These were followed by beliefs that the best deal had been secured (37 per cent), problem solving (36 per cent), and clarity over the process or information (35 per cent).
Responsiveness and relationship‑oriented traits followed close behind, with 28 per cent citing quick responses to queries and a good attitude to new customers and 27 per cent pointing to the intermediary’s relationship with the bank.
Meanwhile, 25 per cent valued their knowledge of the customer’s finances, 23 per cent nominated quick follow‑up, and 18 per cent highlighted likeability.
Brendon Prior, Great Southern Bank’s senior manager, broker performance, said the findings underlined that customers judged experiences across the full life of an application.
“What this research reinforces is that it’s not just one element of the relationship that matters – it’s the entire journey. Every touchpoint, whether customer‑facing or behind the scenes, needs to be seamless,” he said.
Women, Gen X, and first‑timers show distinct preferences
While men and women were broadly aligned on most factors, the survey found women more likely to emphasise the need to be guided through the process (46 per cent of women versus 37 per cent of men) and to feel supported all the way through (46 per cent versus 33 per cent).
Belief that the best deal had been secured was almost identical between the genders (37 per cent versus 36 per cent), as were ratings for problem solving, clarity, and attitude to new customers.
However, women were slightly more likely to value quick responses to queries (30 per cent versus 25 per cent).
Looking at generations, Millennials and Baby Boomers were the cohorts most likely to say they had been guided well (45 per cent and 43 per cent, respectively), while Gen X stood out for placing the highest weight on securing the best deal at 40 per cent.
Among aspirational buyers – current non‑owners intending to purchase a home or investment property – the core themes of guidance, support, and problem solving were amplified again, with more than four in 10 saying they would return based on being guided well through the process.
Owners, investors, and renters demand functional value first
Segmenting the data by home ownership status, the survey found owners and investors equally likely to say that their broker guided them well (42 per cent each), with renters only slightly behind at 40 per cent.
Belief that the best deal had been secured, however, was most pronounced among home owners at 40 per cent, followed by investors at 38 per cent and renters at 29 per cent.
Problem solving skewed towards renters and investors (39 per cent and 37 per cent compared with 34 per cent of owners), while a strong relationship with the bank and knowledge of the customer’s finances for smooth repeat business were most prominent among investors.
Turning research into competitive edge
Prior said the bank had been using this kind of feedback to refine how it supported brokers.
“For a bank that means continually identifying and removing friction in the broker experience – which we’ve done by improving turnaround times, providing direct access to our credit teams, and simplifying processes end‑to‑end, among other things,” Prior said.
According to Prior, the alignment between what customers said they were seeking from brokers and what brokers said they needed from lenders was now shaping GSB’s competitive positioning.
“Brokers want a partner who helps them solve problems and make things simple for their clients. If we consistently deliver on that, we drive better customer outcomes and build stronger, more enduring relationships,” he said.
He added that the lender viewed the third‑party channel as central to its long‑term growth aspirations, particularly in markets where it did not have large physical presence and among first home buyers and younger households.
“That’s why we value the broker channel so highly – when we deliver for brokers, they can recommend us with confidence, supporting sustainable growth for both our business and theirs,” Prior outlined.
GSB’s survey also found that 38 per cent of Australians are considering buying an investment property in the next three years – the highest proportion recorded in recent years.
According to GSB, the desire for long-term financial security continues to drive interest in real estate investment, with a growing number of people seeing property as a stable investment.
The research also showed that 21 per cent of Gen Z would consider rentvesting compared to 14 per cent of other demographics.
[Related: Interest in property investment rises]
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