Jump to winners | Jump to methodology | View PDF
Market-leading performance and trusted client partnerships set Australia’s best commercial mortgage brokers apart.
In a sector that’s becoming more competitive, the number of mortgage brokers writing commercial loans rose 15.19% between October 2023 and March 2024. That translates into a total of 6,755 brokers, which equals 31% of all brokers surveyed, according to the 18th edition of MFAA’s Industry Intelligence Service report.
That followed a 19.47% jump in the period prior, marking a strong rebound after two consecutive periods of decline since April 2022.
Notably, commercial loans reached their highest value of $20.31 billion during the 2023 to 2024 period, for a year-on-year increase of $3.81 billion or 23.12%.
MPA’s Top Commercial Brokers of 2025 pride themselves on understanding every facet of their clients’ businesses and delivering long-term value.
“Truly professional brokers are relational rather than transactional, ensuring every facility offered works within an overall strategic plan,” explains Commercial & Finance Asset Brokers Association (CAFBA) CEO David Bushby.
He adds that reliance on commercial brokers has steadily increased year over year for decades, to the point where many are now viewed as the alternative, often better-resourced, business banker.
That’s because top brokers remain proactive in anticipating their clients’ needs, cementing the trust and reliance clients place in them.
Wendy Brown, head of broker sales for award-winning Macquarie Bank, agrees, saying, “Top-performing commercial brokers recognise their customers’ objectives, have deep industry knowledge and use their connections to lending partners across Australia to deliver solutions and achieve the best outcomes for their customers.”
Reinforcing the qualities exemplified by the best commercial brokers, Bushby and Brown note the following elements essential for success in a highly professional market:
Technology is a vital enabler for top performers, particularly in product delivery and customer experience.
Brown says, “Commercial brokers who are leaning into digital solutions are able to operate more efficiently and spend more time doing what really matters – spending time with their customer.”
Bushby agrees that tech is playing an increasingly important role in origination, partnerships, onboarding and efficiencies in execution. This is especially true in the case of smaller, less complex transactions, where speed and simplicity matter most.
“DocuSign is a simple example at the customer level, and the use of AI can be an effective tool in submission writing and performing complex financial ratio analysis instantly,” says Bushby.
Brown remarks that AI’s role in driving efficiency is a “game-changer,” freeing up time for brokers to focus on high-value engagements.
“For the broker community, it’s crucial to embrace these digital advancements and consider how new features can help scale their business while still delivering exceptional customer experiences,” she adds.
The best commercial mortgage brokers in 2025 stood head and shoulders above the competition, with the entry threshold for MPA’s prestigious list nearly doubling to $100 million in settled loan volume compared to the year prior.
After a comprehensive review of close to 60 submissions, including aggregator-verified figures, the MPA team ranked the top 35 brokers by total commercial loan volume over FY24.
Submissions detailed loan settlements, the number of deals closed, and lending activity across key areas such as commercial real estate, SME lending, equipment and debtor finance, unsecured business loans and development finance.
MPA’s survey data reveals several standout trends:
These results suggest a commercial market now largely shaped by brokers capable of managing high-value, complex deals, underscoring the growing need for tailored, strategic finance solutions.
As more brokers expand into commercial and asset finance to meet ever-complex client needs, a smaller cohort is setting the benchmark for excellence.
While hard data on broker activity in commercial and asset finance remains limited, major aggregators report annual growth of 20% or more in commercial volumes, Deloitte’s Broker Survey (2024) shows.
On average, commercial loans still make up just 10% of residential loan value, but 13% of brokers are now writing a quarter or more of their business in this space. The report found that support from industry groups and aggregators continues to fuel interest and expansion.
In this environment, the Top Commercial Brokers distinguish themselves through strong lender relationships, strategic deal structuring, and a solid grasp of their clients’ businesses.
Building on a legacy over two decades in the making is no small feat, but that’s what Jon Gawley has done since Kanebridge Finance rebranded in 2024 after its visionary founder and CEO stepped down to focus on the company’s media division.
As managing director, the No. 25 ranked top commercial broker has spearheaded complex loan transactions while putting together a high-performing team to ensure continued success after the internal shift.
“The biggest factor over the past year has been establishing the team and getting some good runway after the change within our business,” he explains.
With that stability, Gawley and his team have refocused on clients and leveraged their industry expertise to strengthen relationships with funders.
“We’ve had great success with multiple loan types and have been able to grow our team, which has been positive, and with further expansion plans, it’s an exciting time.”
For the No. 33 ranked Top Commercial Broker who launched the brokerage at the end of 2022, success comes down to one factor: relationships.
“As a broker, you have three key relationships – with customers, lenders and staff,” explains director Roël. “Managing all three well ensures clients know the service they’ll receive, lenders understand the type of business you bring them and your team is working towards the same goals.”
Drawing on eight years at Australia’s largest bank and supported by a team with equally in-depth banking expertise, Roël has helped shape the brokerage’s strategic edge. The team’s inside-out understanding of lenders’ operations allows them to position deals effectively and bridge the gap between clients and funders.
“When we speak with lenders, we’re speaking their language,” he reflects. “And when we talk to business owners, we can offer upfront clarity about what’s likely to get approved and what’s not.”
Fresh off being named one of MPA’s Rising Stars of 2025, the senior associate cracked the Top Commercial Brokers’ list at No. 27 for his top performance in property development and construction finance.
Stutz’s success has been built on meaningful relationships, where he guides clients throughout their often years-long projects, from development to investment.
“When a new funding requirement comes up, we already know the client, putting us into the best position to assist,” he explains. “The same goes when hurdles arise, as they always do in commercial. We’re ready to respond and help solve the problem because we understand it in intimate detail.”
The second element is partnering with top-tier commercial and property development finance lenders, particularly in the growing non-bank and private credit lenders space.
“That’s been critical because it’s a tough construction finance market right now; clients are seeking tailored solutions,” Stutz says. “Being able to workshop transactions with lenders we know and trust us has been invaluable. We wouldn’t have been able to put together some of our funding solutions without those relationships.”
By prioritising flexible, bespoke solutions rather than off-the-shelf products, Stutz delivers for clients and helps them steer through any obstacles that come their way.
“We like to have a problem-solving mindset when challenges arise and focus on finding an efficient solution,” he adds.
A mix of reputation, knowledge and experience has propelled the director to the No. 5 spot on MPA’s Top Commercial Brokers list. Frazis calls the hard work to get there a labour of love, that has powered the success of the brokerage founded by his brother, George.
“We love what we do, helping family businesses succeed and achieve their goals. It’s a passion of ours,” he says.
Known for his reliability and transparency, Frazis has built long-term relationships by guiding clients through the complexities of commercial finance. With 20 years of experience at several major banks and a regional lender, he brings invaluable insight into lending strategy and market trends.
“In this space, nothing is ever straightforward; you have to be able to navigate the inevitable challenges that come with the job,” Frazis adds.
Broker and managing director Son Pham has secured a place on MPA’s Top Commercial Brokers’ list for four consecutive years, ranking No. 10 in 2025.
Pham’s competitive edge lies in the strength of his lender relationships and the quality of his deal submissions. He and his team’s close ties with credit managers and BDMs mean they can secure support on complex deals that others might not get across the line.
Pham has built his reputation by consistently delivering solutions in the most complex, high-pressure lending scenarios, a skill that’s earned him the nickname “Mr Fix-It” from his business partner.
“I always say education is the biggest piece,” he explains. “You must always be open to learning and never say no to a deal. It’s about solutions.”
Getting the initial finance approval is just one step towards a much broader goal, grounded in understanding what clients want to achieve long term. Pham excels by focusing on the bigger picture, helping clients acquire assets, build wealth and generate long-term value.
He’s also scaled his business, hiring more brokers and mentoring them with the same solution-oriented mindset. The team is now delivering strong results across the board, with momentum continuing to build.
The challenges of the past few years can’t keep the best commercial mortgage brokers down. Australia’s broking elite have faced sector-specific pressures and broader business headwinds over the past year.
In asset finance, where brokers often serve as a “real-time” barometer of business sentiment, activity has been slightly subdued. That dip reflects wider caution in the SME space, with sentiment still recovering amid economic uncertainty.
Meanwhile, rising cybercrime and sophistication are creating operational challenges across the board. Bushby says, “This activity requires brokers and lenders to be more vigilant with document verifications and the security of their CRM systems.”
Brown says scams and fraud continue to remain a challenge. The commercial brokers she deals with use multi-factor authentication tools, such as Macquarie Authenticator, which provides detailed alerts and actionable notifications to verify or decline an account activity in real time.
“Keeping customers’ information secure is front of mind for brokers,” she says. “When we talk to brokers out in the market, we know that they are focused on ensuring that their businesses remain vigilant and that they have protection in place against any threat actors.”
In commercial property, market sluggishness is just as tricky. “The slow underlying real estate market, with limited transactional activity, is a major challenge,” says Brown.
For brokers like Gawley, an often-overlooked challenge in commercial lending is managing relationships with banks and private lenders, especially in complex deals where trust and problem-solving are essential.
“The biggest issue is understanding your client’s needs, but also, once you understand them, matching them to the right funder, whether that’s a major bank, second-tier or even private funder,” he explains.
Gawley notes that accurate and up-to-the-minute information from lenders and clients drives better outcomes.
Roël flips the question when asked about the challenges brokers aren’t talking about enough. For him, it’s more about untapped possibilities.
“Commercial lending in Australia is far less rigid than the home lending market, which is great because there are more opportunities to customise loans and financing packages,” he says.
That flexibility, he says, opens the door for brokers to step into a more strategic role that blends broking with commercial lending advisory to deliver value-added, high-quality service to commercial clients cost-effectively.
“The challenge is to build a brand and understanding with clients that this can be achieved through the broker model,” Roël adds.
From Stutz’s perspective, the property market, especially in Victoria, has had a tough few years. Since the pandemic, developers have faced rising costs, tighter compliance rules and more taxes.
Build costs have soared while property values have stagnated. Stutz notes that mismatch is making it incredibly tough to get some projects off the ground. On the broker side, transactions are taking two to three times longer to complete, with more hurdles, tighter margins and greater competition.
“Deals demand a lot more time and problem-solving to land the same result, and with that comes greater satisfaction,” he says.
Frazis has noticed a shift in the commercial lending sector, with more seasoned bankers stepping away from institutions and moving into broking. Since so many bring proven experience and strong networks, the space is getting more competitive.
But he’s not worried and feels there’s plenty of business to go around, especially as more clients turn to debt advisers and brokers for strategic support rather than just transactional help.
Staying ahead comes down to keeping relationships front and centre, something Frazis accomplishes by positioning himself as an extension of his client’s business.
“I’m not just doing a transaction and walking away,” he says. “I take clients on the journey, providing strategic advice and ongoing support. It’s not a set-and-forget approach. It’s about building and maintaining a relationship that lasts.”
In Pham’s view, an inherent risk in commercial compared to residential is that brokers tend to see more deals fall apart as more variables are at play, such as the asset itself, valuations, leases, tenants and location.
“That’s probably the biggest challenge: doing all the work, and then the deal falls apart,” he explains. “But when that happens, I like to pull it apart and ask, ‘Why did it go wrong? How can we stop that from happening again?’ We always try to pick it apart to do better on the next one.”
He also takes a hands-on, problem-solving approach when mentoring his brokers. Instead of focusing on deals already in motion, Pham urges his team to bring him the ones that are stuck. He walks through each challenge by applying the five Cs of credit.
“I want to hear about the deals they’re struggling with,” he says. “We question everything upfront to, hopefully, reduce the risk of error.”
The Deloitte report underscores brokers’ value, revealing that 72% of all broker business comes from existing clients or referrals. The introduction of the mortgage broker best interests duty (BID) in 2021 has further strengthened consumer confidence, reinforcing the trusted relationships top commercial brokers have built with their clients.
Commenting on the findings in the landmark report, MFAA CEO Anja Pannek noted, “More recently, in the midst of a heightened interest rate environment and cost-of-living pressures, brokers have helped borrowers navigate their options – for the better.”
While industry growth is measurable, the best commercial brokers say long-term success revolves around offering solutions when banks can’t, taking the time to understand a client’s business inside out, and investing in relationships even when there’s no deal on the table.
Gawley notes that trust and rapport are the biggest factors in broking and also in business more broadly. From his banking days, this was foundational to his success. Clients saw him as a trusted advisor who understood their needs and prioritised responsiveness and communication.
“In banking, it wasn’t always about price. It was about the solution,” he says. “That’s still the goal: to be a trusted advisor, not just for me, but for our entire team.”
That philosophy has driven referrals and repeat business, which has been core to the company for 25 years.
“We provide solutions others can’t,” Gawley adds. “Many clients come to us after being turned away by banks, and we secure funding through private lenders, structured finance and alternative lending options.”
Roël’s experience tells a slightly different story that’s rooted in networks and word of mouth. A robust referral pipeline has underpinned his success in the commercial space, strengthened by consistently showing clients he has their best interests at heart.
“Commercial clients talk to each other, whether they’re peers, competitors or industry contacts,” he says. “If they trust you, they’ll refer others to you when they hear someone struggling with a financing issue.”
That trusted network has been a key factor in the firm’s early momentum. But Roël emphasises that earning trust takes time, particularly when clients work closely with various professionals, including accountants, lawyers and tax advisors.
“The thing is, those people often really value loyalty,” he says. “They’re sticky customers once you break through that trust barrier. The only way I’ve been able to do that is by proving that we will do what’s in their best interest, regardless of the outcome. And once you’ve got that trust, it’s yours to lose.”
Stutz credits his breakout success to the Quattro Finance & Advisory brand and its long-standing reputation in the market. While he’s only been broking independently for two years, he’s continued the firm’s legacy of professional service, strong technical knowledge and deep relationships.
“I often attend meetings simply to listen and provide input. There may not be a transaction in play, but clients value the opportunity to workshop ideas and explore options,” he says. “When market conditions improve, we’ll be well-positioned as trusted advisors they can rely on.”
Most of their new business still comes through word-of-mouth referrals from satisfied clients.
For Stutz, the key is consistency, especially through the more demanding parts of the cycle.
“I attend a lot of meetings where I’m just sitting there as an ear; there may not be a transaction on the table,” he says. “The client just wants to workshop things with you and bounce ideas around. When the good times come again, which they absolutely will, we will be at the forefront as a trusted advisor.”
Frazis believes success starts with understanding a client’s goals and challenges and investing the time to support them.
“We provide tailored and strategic advice to support those goals,” he says. “I try to extend myself to be part of their business as a trusted advisor.”
He stays closely connected, offering market insights and sharing what he’s seeing in the overall economic climate. His consistency and commitment to exceeding expectations have paid off, as about 80% of his business comes from referrals and word of mouth.
“If you do a good job for them and they know you can deliver, they’ll refer you more business,” he adds. “We helped one client with a large commercial file, and they referred their son-in-law to us. We ended up doing all the family’s business.”
Referrals are a key part of Pham’s business.
“Keep it simple,” he says. “Do great work, and the rest will follow.”
That approach has helped him build long-standing client relationships based on trust and consistency.
“Your clients will see that and have that trust with you,” Pham comments. “Even if I haven’t spoken to a client in a year, I can pick up the phone, and it’s like we spoke yesterday. Maintaining relationships is very important because you want to be top-of-mind when they’re ready to buy a new property or refinance, even if it’s been a few years.”
That long-game mindset has led to unexpected wins. Take the deal Pham did for a well-known local influencer, for example. The client was so impressed with the service and outcome he now sends business their way whenever his followers ask for a broker recommendation.
The brokerage also uses software to manage client communications, including newsletters, check-ins and timely updates to stay connected between transactions.
“It’s so important to show your worth to the people you deal with and to maintain those relationships with clients, referral partners, and bankers,” Pham adds.
La Trobe Financial congratulates MPA’s Top Commercial Brokers for 2025.
This prestigious list acknowledges the industry’s highest-performing brokers, recognising their exceptional contributions both to the sector and their communities.
In an era marked by evolving economic conditions and rising interest rates, these brokers have exemplified resilience and leadership, setting a new benchmark for excellence. Their achievements are particularly commendable in a rapidly changing landscape that continues to test the industry’s strength and adaptability.
At La Trobe Financial, we remain steadfast in our belief that strong broker partnerships are key to success. For more than 70 years, we have nurtured relationships with our broker partners, allowing us to lead the market through periods of economic uncertainty, including recessions, inflationary pressures, regulatory shifts and the challenges presented by global events such as the pandemic.
We congratulate all the Top Commercial Brokers for their significant accomplishments and wish them success as they continue to shape the future of the industry.
Cory Bannister
Chief Lending Officer
La Trobe Financial
To find and recognise the Top Commercial Brokers 2025, MPA invited brokers from across the country to submit their figures from the past year.
The online form asked for details such as the total value of commercial loans settled, the number of commercial loans settled, and the proportion of loans in the following areas: commercial real estate, equipment and asset finance, SME lending, debtor finance, unsecured business lending and development finance.
Brokers also supplied information such as the number of support staff on their team, their number of years as a commercial broker and their aggregator details. Aggregators were then required to verify the details submitted.
The final ranking of the top 35 brokers, each of whom settled over $100 million, was determined by the total value of commercial loans they originated during the 12-month period.
MPA’s Top Commercial Brokers for 2025 special report is proudly sponsored by La Trobe Financial.
