MPA Top 10 broker Jeremy Fisher from 1st Street explains why he thinks industry regulations are a positive step for the mortgage broking profession, how exceptional service always leads to client referrals and why he’s looking to bring more brokers onboard.
MPA Top 10 broker Jeremy Fisher from 1st Street explains why he thinks industry regulations are a positive step for the mortgage broking profession, how exceptional service always leads to client referrals and why he’s looking to bring more brokers onboard.
Q: Why did you become a mortgage broker?
A: I have always been interested in the property market and, after several years as a stock broker, I recognised that there were great opportunities within the emerging mortgage broking industry. I established 1st Street in 2002 in order to offer a premium, boutique and personalised service to those seeking a home loan.
Q: You reached number 6 in MPA’s Top 100 last year. What do you attribute your success to?
A: In my dealings with all clients I always go to great lengths to offer exceptional service and treat people how I would like to be treated. Clients have appreciated this approach, and all have referred me to at least one other new client.
Q: What has been the highlight of your career?
A: It was great to be awarded with the inaugural Australian Broker of the Year (ABA Awards) in 2011.
Q: What keeps you motivated?
A: Purchasing a property is a big step for most of my clients, and it is great to see their satisfaction with my service and delight with the opportunities I make available to them. Having a growing business with motivated people around me is also very rewarding.
Q: What do you think is the biggest challenge facing mortgage brokers at the moment?
A: With the continuing enhancements to industry regulations many brokers may have found it difficult to keep up, but overall these changes are a positive step forward for the industry.
Q: What do you see as your unique selling point when it comes to attracting clients?
A: 1st Street offers a highly personalised service through very experienced and knowledgeable mortgage brokers. Each client has one main contact from their initial meeting through to settlement and it is always a priority that the home loan process is as simple and stress-free as possible for all clients.
Q: How has the industry changed since you took up mortgage broking?
A: Every year the government, as well as the heads of the industry, have diligently tightened regulations to ensure that mortgage brokers have a reputation for honesty, integrity and transparency.
Q: How do you see it evolving over the next decade or so?
A: I see the biggest change over the coming years will be mortgage brokers integrating other services to their current offerings, such as financial planning and leasing. I also believe we will see the online mortgage market evolve over the next decade so mortgage brokers need to remain in touch with this space.
Q: What advice would you give to new entrants to the mortgage broking industry?
A: New brokers should become well aware of industry regulations and market segmentation, and keep up to date with all changes. They should also aspire to offer exceptional customer service to all clients at all times.
Q: How do you build up awareness of your brand?
A: 1st Street is heavily involved in sponsorship in the areas of junior sport and primary education. We continue to enhance and develop alliances with complementary businesses and we have been expanding our social media presence over the past year.
Q: What are your key goals for the year ahead?
A: With our recent move into new and larger premises, we have more desks available and are always looking to take experienced and like-minded brokers onboard. We are also focused on continuing to expand into all states across the country.
Q: Do you diversify and if so, in what areas?
A: As part of a full-service and holistic approach, 1st Street also offers insurance, leasing and financial planning all under the 1st Street name.
