8 ANDREW MIRAMS
Total value of residential loans
FY 2014/15: $157,084,517
Total number of residential loans
FY 2014/15: 303
After two years out of the Top 100, Andrew Mirams is back with a bang. Based in Melbourne, he specialises in finance for property investors: “Probably, from the day I started my broking business 12-and-a-half years ago, it’s been our strength.”
Property investors are of course the worst-kept secret in Australia – everyone from the local broker to APRA’s hierarchy knows the extraordinary appetite Australians have for property. However, actually specialising in this sector means providing more than the best rate, Mirams explains: “We don’t compete on price, so we start with the strategy and what the client wants to achieve from their investment … that’s what we specialise in; not doing the deal today but guiding people to their future investment goals.” Mirams’ clients are serious investors who are building portfolios and not simply looking for a single-transaction relationship.
APRA’s attempts to curb investment lending aren’t harming Mirams’ business; quite the opposite: “Our phones are ringing off the hook because people and astute investors need specialists more than ever, rather than going to a bank or broker who doesn’t specialise, given the recent APRA changes.” Bank changes to rates and serviceability policies have had a “minute” effect. He explains that “there’s the odd customer who can’t get finance but, like everything, it’s a cycle; we see it in property, we see it in shares, we see it in everything”. Whatever the prevailing conditions, Mirams argues, it’s the broker’s job to guide clients through that environment.
While referrals from clients and buyer’s agents make up a proportion of Intuitive Finance’s leads, they also actively promote themselves across Twitter, Facebook and LinkedIn. They’re also involved in sponsorship and Mirams is regularly on 4BC radio and on the Real Estate Talk podcast. All are places where he can “talk about [property] issues and give advice and information; that’s what our website and podcast is focused on – being an expert in our field”.
For up-and-coming brokers, whether or not they’re dealing with property investment, Mirams’ advice is simple: “Know what you’re good at, have a great CRM, and target your market – you cannot market enough.”