New research has reaffirmed that brokers are a firm favourite with property investors.
According to our recent survey of 800 property investors, almost 70 per cent say they have sought services from a mortgage broker.
The survey was conducted by Property Investment Professionals of Australia andThe Adviserâ€™s sister title,Smart Property Investment.
This is great news and testament to the sterling service that third-party distributers provide. Moreover, investors make for great, sticky clients, so our ability to appeal to this market is ideal.
But before you crack open the bubbly and kick your feet up, itâ€™s worth reflecting on what it is that draws property investors to mortgage brokers. Only with a firm grasp of what we offer investors can we further capitalise on our appeal to this market segment.
Here is a summary of what I believe are brokersâ€™ top selling points when it comes to investors. Have a think about how well you are delivering on these and, equally important, how well you are promoting these qualities to new prospects.
Typically speaking, property investors are genuinely passionate about wealth creation and property investment, and our personalised, tailored financing services can be much more appealing than that offered by the big banks.
We do the running around
While many investors might have a genuine interest in their investments, theyâ€™re usually busy people who appreciate a brokerâ€™s help. What sets brokers apart from bigger institutions is our willingness to go that extra mile for our clients, to help them out with paperwork and get a deal over the line.
We offer more options
As brokers, one of our greatest service offerings is that we can shop around to secure our clients the best product and the best lender to suit them. Moreover, often it can be useful for borrowers to spread their financing across a range of lenders, so a broker is ideally placed to help with this.
More than just a one-stop home loan shop, many mortgage brokers now boast a diversified service offering, or work within a diversified business, which can cater to investorsâ€™ broad range of needs within the one roof.
Weâ€™re more strategic
Without doubt the most value we as brokers offer is our ability to correctly structure the lending around our clients investment purchase, whether itâ€™s the first or the 10th investment property. Our knowledge of what is the right way and the wrong way when it comes to property investment lending, such as having more than one lender in the mix as a clientâ€™s portfolio grows, is why we are the preferred source.
So set yourself apart from the big institutions and embrace what makes you as a broker special. Make yourself available to your investor clients, be genuinely interested in their cause, and the rest will follow.
Ben Kingsley is chair of the Property Investment Professionals of Australia (PIPA) and founding director of wealth advisory business Empower Wealth.
A qualified property investment advisor, Ben holds a real estate agency license, a certificate IV in mortgage lending and a Diploma of Business, and is one of Australiaâ€™s leading property investment analysts and advisers.
PIPA is a not-for-profit association established by industry practitioners with the objective of representing and raising the professional standards of all operators involved within property investment.
As the chair of PIPA, Ben is at the forefront of the property industry and is a passionate advocate of ethical, professional property investment services.
Ben is a regular media contributor, appearing regularly as a panellist and commentator on Sky Business Newsâ€™ â€˜Your Money, Your Callâ€™ and Melbourne Property TV. He also contributes regularly to various print and online publications including Smart Property Investment magazine.
1 May 2014