by Dino Pacella (pictured), national partnership manager at Marketplace Finance
With the broker market continuing to experience an influx of business across the residential market, the ability to partner with the right businesses and have multiple options on hand to be able to service your clients’ needs, while ensuring any risk of losing business is eliminated, has now become a growing necessity. Consumers want more from brokers. They want guidance, recommendations and more than simply a home loan shop. To ensure we are keeping up with the market’s requirements, brokers are seeking out better support, easy to use, more effective and efficient technology, and consumer focused offerings that assist in scaling their business.
The broker’s “brand” across the wide Australian consumer market has changed dramatically over the past five years. Consumers are now, more than ever, contacting their broker for financial requirements that scale beyond the walls of home loans. Business lending, development projects, specialised equipment finance and financial assistance are just a few other enquiries that brokers are now receiving beyond a home loan purchase or refinance. And these are increasing by the day.
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Consumers are benefiting from these wide-ranging services from brokers, whether they be direct or via a referral, and one industry that is seeing a continuing up rising trend is the commercial property market. With the rising price of residential property, owners have access to greater equity. Investors are getting savvier, the awareness has expanded considerably during the past number of years with more blogs, podcasts, news articles and statistics being released than ever before.
These savvy investors, with detailed information now flooding their screens, are looking for better returns than what residential properties have delivered in the past and are making the switch to commercial properties. Brokers are playing a pivotal role in assisting these investors structure these deals to ensure the right loan is supplied. With interest rates the lowest that we’ve seen across commercial, the market competition is fierce. Brokers understand this and can help commercial buyers navigate through this hot market to land on the right deal for their clients. We will continue to see the percentage of commercial lending through finance brokers rise as the demand for greater return on investments are sought, and after 21 months of an economy hit hard by a worldwide pandemic, commercial property will continue to play a part for the wider reaching investor.
Refer full article in the MPA Magazine: https://www.mpamag.com/au/specialty/commercial/why-brokers-are-playing-an-important-role-in-the-commercial-property-market/318663
