Kathy Dundas of No Fuss Homeloans explains why she switched to Connective
Why did you decide to switch groups?
It was a difficult decision for me. I joined my previous aggregator on entry into the industry, so that was just over 10 years ago and because I was new to the industry I thought I really needed someone who offered a good referral model so that I could build my business – that was the most important feature I was looking for back then.
Over time, because business has evolved, I just thought I no longer needed that referral program and with that referral program obviously it affects your commission splits so I thought I needed to look for a better option to suit my current business model.
What sort of support does your new aggregator provide?
They offer me as much or as little support as I need.
These days support isn’t so much focused on assistance with structuring deals or dealing with lenders, because I’ve got good relationships with all the BDMs and the lenders that I use.
I guess what they offer me is support in streamlining my systems. They’ve got a really good software offering.
They’ve also got a really good marketing strategy which we’re currently in the process of setting up so we’re going to be emailing, SMS, social media – they provide a lot of tools for that.
Connective are a larger group than my previous aggregator and that has made a big difference. Their PD days are really valuable.
Having come from a small group, I guess their access to speakers was a bit limited, but at Connective I find their PD days really interesting. There’s a lot of value and it’s not just a bunch of lenders banging on about a product.
What sealed the deal?
It was a big decision for me to move because I’d been there for a long time and I looked at all the major aggregator groups and I just thought that Connective was the best fit.
The commission structure worked well, I really liked their Mercury system – it’s really good.
For me it’s important to have a good lodgement, CRM and a compliance platform and the fact that I can take my trail with me, should I choose to leave – that’s what sealed the deal.
Does this group attract a certain type of broker?
Not long after switching to Connective, I went along to their conference and that was my first opportunity to meet up with other brokers within the group. I met a lot because it was a big function and they were all from different backgrounds, so I met larger broker groups, sole traders and all types in-between.
They [Connective] seemed to be a group fit for most business models so I don’t know, maybe a more experience broker would be more suited to Connective.
I have to be honest, what really surprised me when talking to brokers, and even the lender reps at the conference, was that I didn’t come across anyone who had anything negative to say or who wasn’t happy. I just think that really made me feel like I made the right choice so perhaps they’re a good fit for most? It just depends on what you’re looking for.
What is the number one thing you look for in an aggregator?
If it’s just one thing, and I think it comes down to this with a lot of brokers, it’s just that security and peace of mind knowing that your trail is safe and it will travel with you if you move on.
I think that’s a really big issue with our industry: if we choose to move aggregators, it’s very difficult to leave your major income source behind – that would have to be the big one.
Also, the fact that they have the tools to get my business running and keep it running smoothly, and because they’ve got a really good support network – that was just icing on the cake.
While current property sentiment among property professionals rem...
Home loan delinquencies have declined and are expected to further...
OnDeck Australia has become the latest non-bank lender to join th...