Mortgage Choice Melbourne
You can’t talk about Mortgage Choice Melbourne without talking about its location. Situated right in the city centre at La Trobe Street, the brokerage gets a real mix of clients who see the brokerage on their commute, and it makes it far easier for clients to walk in the door.
Surprisingly, the brokerage looks beyond the apartment-driven market at Melbourne’s centre, co-owner Cameron Price explains. “We don’t really like lending to it; the banks don’t like [it]. A lot of the apartments are well overpriced.”
What the brokerage does specialise in is investors, although first home buyers and refinancers play an important role. The brokerage has evolved with its clients; it was dominated by first home buyers, but “the first home buyers of 10 years ago may now want their own investment property,” Price says.
Education is what distinguishes the brokers to their clients, Price says. “We’re trying to educate the clients on [achieving] their long-term goals,” which includes guidance on everything from structuring to tax, and pays off in referrals. One broker, Stephen Zamykal, has a series of investment advice videos on YouTube and has written a number of books on the subject. Seminars and webinars play a crucial role in attracting new clients.
The team is working to systematise the way they work, Price explains. “We’re trying to move to a uniform process, but everyone does things a little differently.” Brokers do the selling and initial entry to the Next Gen system, and then the support staff – labelled ‘customer service managers’ – handle the rest of the application. In fact, new brokers are immediately paired with a customer service manager.
The brokerage’s ambitions for the coming year include further diversification. They already have financial planning in-house and are focusing particularly on commercial business this year; they believe by improving non-core services, they’ll take their impressive numbers to the next level.