This investment specialist, Ironman and Choice Home Loans franchisee on having a strong referral network.
Top 100 broker Peter Gwynne of Choice Home Loans Varsity Lakes explains why he made the move to join a franchise network.
Building an independent brokerage is hard work; building a reputation as a leading broker even harder. Peter Gwynne has achieved both: He’s been a regular in our Top 100 since 2012, and his original brokerage, Financing Property, has established an extensive network of property investor clients. He’s also a committed triathlete who draws on his discipline to push him forward in the business.
What you might not have noticed is that in 2014, Gwynne joined Choice Home Loans. Whilst his storefront is daubed in green, Gwynne doesn’t seem to have made many changes to what has proved a profitable niche. But underneath the surface, he says, being part of a franchise network is an important step towards his strategic goals.
Getting extra leads wasn’t one of these goals – in the current market, brokers like Gwynne don’t need them. “If you’ve got a good referrer, you wouldn’t need to go and market [yourself],” he says. “I don’t really market; I just keep in contact with my current database to let them know we’re here.”
At the end of the loan process, he does ask clients if they know anyone in need of a broker’s services, and uses Choice’s Podium CRM system to send email marketing to his database.
Simple and efficient processing is crucial to Gwynne’s success, right from the beginning. Although his brokerage has a storefront, walk-in clients are very rare; most inquiries come to his two full-time support staff. Gwynne has the initial consultation with the client, a meeting he takes a particularly straightforward approach to: “It’s full assets, liabilities and future goals – once you know that, you’re ready to go.”
This is where Gwynne’s support staff make the difference. “They can take a loan all the way – they’re probably better than most brokers,” he says. They take the loan from Gwynne, package it up and submit it to the lender, all while updating the clients every second day through personalised emails.
But despite his solid referral network, processing system and experienced support staff, Gwynne still finds benefits to being part of a franchise that takes care of all the other parts of the business: the marketing, admin and back-office work, which, he says, constitutes “a whole other job in a business”.
He points to web design. “Websites now have to be compliant; if you’ve got a website, you’ve got to spend thousands on it … there are issues with finding reputable people to make it, and ASIC and APRA are really looking at websites now. It’s another stress.”
In terms of branding, Gwynne’s personal reputation is still what brings in business, but he believes the Choice brand would help if he decided to step it up a level: “The other business was just me, whereas this is something I could extend out if I wanted one day … you’re not on your own; you’ve got really good support there.”
Joining Choice hasn’t changed Gwynne’s belief in hard graft, however. That comes back to triathlons – in particular, completing the infamous Hawaiian Ironman competition.
“That’s the toughest triathlon in the world, and the bottom line is, if you can do that well, the business is similar,” he says. “You follow those rules and work hard, work hard, work hard – not just one day, but until you reach your goal … it’s not a hard formula; it’s just how much you want it.”
Building an independent brokerage is hard work; building a reputation as a leading broker even harder. Peter Gwynne has achieved both: He’s been a regular in our Top 100 since 2012, and his original brokerage, Financing Property, has established an extensive network of property investor clients. He’s also a committed triathlete who draws on his discipline to push him forward in the business.
What you might not have noticed is that in 2014, Gwynne joined Choice Home Loans. Whilst his storefront is daubed in green, Gwynne doesn’t seem to have made many changes to what has proved a profitable niche. But underneath the surface, he says, being part of a franchise network is an important step towards his strategic goals.
Getting extra leads wasn’t one of these goals – in the current market, brokers like Gwynne don’t need them. “If you’ve got a good referrer, you wouldn’t need to go and market [yourself],” he says. “I don’t really market; I just keep in contact with my current database to let them know we’re here.”At the end of the loan process, he does ask clients if they know anyone in need of a broker’s services, and uses Choice’s Podium CRM system to send email marketing to his database.
Simple and efficient processing is crucial to Gwynne’s success, right from the beginning. Although his brokerage has a storefront, walk-in clients are very rare; most inquiries come to his two full-time support staff. Gwynne has the initial consultation with the client, a meeting he takes a particularly straightforward approach to: “It’s full assets, liabilities and future goals – once you know that, you’re ready to go.”
This is where Gwynne’s support staff make the difference. “They can take a loan all the way – they’re probably better than most brokers,” he says. They take the loan from Gwynne, package it up and submit it to the lender, all while updating the clients every second day through personalised emails.
But despite his solid referral network, processing system and experienced support staff, Gwynne still finds benefits to being part of a franchise that takes care of all the other parts of the business: the marketing, admin and back-office work, which, he says, constitutes “a whole other job in a business”.
He points to web design. “Websites now have to be compliant; if you’ve got a website, you’ve got to spend thousands on it … there are issues with finding reputable people to make it, and ASIC and APRA are really looking at websites now. It’s another stress.”
In terms of branding, Gwynne’s personal reputation is still what brings in business, but he believes the Choice brand would help if he decided to step it up a level: “The other business was just me, whereas this is something I could extend out if I wanted one day … you’re not on your own; you’ve got really good support there.”
Joining Choice hasn’t changed Gwynne’s belief in hard graft, however. That comes back to triathlons – in particular, completing the infamous Hawaiian Ironman competition.
“That’s the toughest triathlon in the world, and the bottom line is, if you can do that well, the business is similar,” he says. “You follow those rules and work hard, work hard, work hard – not just one day, but until you reach your goal … it’s not a hard formula; it’s just how much you want it.”
