In a market in regulatory turmoil, these brokers save defied the odds and are driving the industry forward
There are plenty of ways to measure a broker’s performance. For some, a great client testimonial is enough; others want a cabinet full of trophies. MPA’s Top 100 Brokers list highlights individuals who are extending the boundaries of what a broker can do, reaching new heights of efficiency and customer service and, consequently, writing more loans.
We take a straightforward approach: it is a broker's total value of residential settlements over the 2016/17 financial year that decides the rankings you’ll see over the next few pages. This can be tough, for example on regional brokers dealing in lower loan sizes, but it provides a transparent way to compare very different brokers and different businesses.
The Top 100 is not simply a list of brokers; it can tell you a lot about the entire industry. Overall, this year’s Top 100 wrote fewer loans, with a lower total value than last year’s cohort. This is the second year that numbers have declined, and it is increasingly looking like the near-$11bn written in 2015 will be remembered as a peak that future brokers will struggle to reach.
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The impact of regulation and lender policy changes cannot be ignored. We spoke to a selection of Top 100 brokers, including the entire Top 10, many of whom told us that their clients’ borrowing capacity had been cut and the average loan was taking more time and effort. It’s noticeable that the brokers who performed best this year had highly efficient processing operations or had diversified beyond the most affected client groups.
We’ve made one small change to this year’s Top 100: rather than using ‘average’ figures, we’re moving to ‘median’ figures. The intention is the same – to showcase the typical Top 100 broker – but median figures provide a more realistic view and aren’t affected by extreme results at different ends of the scale. We are still using the word ‘average’ in its commonplace meaning, however.
We’d like to thank all the brokers who applied for this year’s Top 100 Brokers, whether or not they appear in this list. We’d also like to thank the aggregators who verified them and our sponsor, Suncorp, for making this report possible.
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