Now with a second office open, the brokerage eyes further growth in WA’s booming property market
Perth-based mortgage brokerage Loan Market Propel has more than doubled its productivity over the past year, driven by an operational overhaul and a new office location.
The firm settled $184 million in loans for the 2024 financial year, up from $63 million in FY23, and won Loan Market’s International Cutting Edge Award for its rapid growth.
Located in Perth’s northern suburbs, Loan Market Propel restructured its processes and added an operations manager, improving efficiencies without increasing its broker headcount.
Enhancements included standardising documentation templates, strengthening social media engagement, and building stronger ties with referral partners. These changes enabled the brokerage to process loans faster and convert more enquiries, with an average of 38 loans lodged per month over the last financial year.
Loan Market Propel was included in the list of Australian Broker’s Fast Brokerages and Fast Starters this year.
Co-director Andrew Rowlands (pictured above left) said the structural changes were essential in leveraging Western Australia’s active property market over the past 12 to 18 months.
“We really didn’t have much of a process in place across the business,” he said. “The brokers worked independently in their own silos and had always operated on a rhythm they knew, but there was no standardisation across the business.”
In 2023, award-winning business development manager and former Loan Market WA state relationship manager Shelley Tetlaw (pictured above right) joined the team (pictured below), bringing expertise in communication, compliance, and Loan Market’s CRM platform.
According to Rowlands, Tetlaw’s guidance allowed the brokerage to streamline client onboarding, ensuring that brokers arrive at initial meetings with all required documentation, ready to present compliant recommendations promptly.
Tetlaw also oversees both local and offshore support staff, who now handle more administrative tasks, enabling brokers to focus on client-facing activities. A key area of focus has been strengthening relationships with referral partners, who drive a significant portion of the brokerage’s business.
About 70% of Loan Market Propel’s leads come from construction loans, particularly for first-home buyers. The firm has built partnerships with local developers and builders and now provides these partners with real-time updates on client applications.
With plans for further growth, Loan Market Propel recently opened a second office in Baldivis. Rowlands said the brokerage aims to settle at least $250 million in loans by the end of the financial year.
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