the adviser logo

Cross-selling gathers pace: survey

by Staff Reporter9 minute read
The Adviser

More than 70 per cent of all brokers cross-sell other products when offering residential mortgages, a new broker poll has revealed.

According to Mortgage Business’ latest straw poll, of the 300 brokers surveyed 210 cross-sell whereas 90 do not.

Joel De Shannon from Australian Independent Investment Solutions (AIIS) advocates the strong business case for cross-selling, saying he offers his clients insurance with every mortgage written.

“At AIIS we are trying to provide holistic advice and become a bit of a one-stop-shop to our customers,” Mr De Shannon told Mortgage Business.


“I find clients get more value out of your services if you can offer them more than a residential mortgage.”

According to Mr De Shannon, cross-selling has added value to his clients and his hip pocket.

“While you will see a return on your investment, I think brokers need to branch into cross-selling as a way to add value to their clients rather than their own income,” he said.

Phillip Edwards from Australian Mortgage Brokers is another broker who sees benefit in cross-selling.

“If you can offer more than transactional, residential mortgage broking, you will make your clients stickier and help keep them loyal to your business,” he told Mortgage Business.

Read the latest issue of The Adviser magazine!
The Adviser is the number one magazine for Australia's finance and mortgage brokers. The publications delivers news, analysis, business intelligence, sales and marketing strategies, research and key target reports to an audience of professional mortgage and finance brokers
Read more