Choice Home Loans, Leederville
Whilst many brokerages in this list specialise in a particular type of client, Choice Home Loans Leederville has gone in the opposite direction. A broad client base has partly resulted from conditions in the Perth market, where strong employment has slowed a fall in first home buyers. But it’s also a result of the brokerage’s long-running record of good service.
“In the last two years, we’re starting to see the children of original clients, which is a huge compliment,” explains co-owner Marco Meloni; these children are generally first home buyers. Existing clients also add to the business by renovating and upgrading their homes, whilst investor clients benefit from the Perth “buyer’s market,” as Meloni puts it.
The past year also has seen the brokerage cleanse its database, with a dedicated staff member making sure details are up to date so future marketing has maximum impact, Meloni says. “We’re of the certain belief that our existing database is the best place to get new and existing business back, rather than going out cold.”
The brokerage follows the Choice customer care program, where clients are contacted at least twice per year for four years after settlement. This year they’re trying to call every client, Meloni says: “That’s where we get the best results, when we physically call them – it has a better success rate than email or newsletters.” Meloni is particularly supportive of Choice’s CRM software, which he believes has far more potential then he’s yet been able to utilise.
Drawing heavily on the database does, however, place huge responsibility and reliance on support staff. Personal assistants are hired on the expectation they will work towards becoming a loan writer, and promised that their hunger will be adequately rewarded: “Even our PAs are all on bonuses if the broker achieves their targets.” Meloni’s advice to new brokerages is short and sweet: “One, prepare well. And two, if the product is good and the service is good, the business will create new business for itself. Always value quality, not quantity.”