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By the close of 2024, mortgage brokers were responsible for 76% of all new home loan originations in Australia — the highest proportion ever recorded. The figure is more than just a milestone; it is a reflection of shifting borrower behaviour in a housing landscape marked by complexity and choice.
Australians are increasingly placing their trust in brokers not merely for access to competitive rates but for guidance through the intricacies of lending. With access to a broad panel of lenders and the ability to simplify the loan process, brokers are becoming indispensable to homebuyers navigating a crowded marketplace.
Yet the rising numbers tell only part of the story. Behind the scenes, Australia’s leading brokerages are investing in operational efficiency, adopting smarter technologies, and honing service delivery to drive better outcomes. In a market that remains fiercely competitive, their focus on continual refinement is paying dividends.
From bespoke financial advice to consistently high conversion rates, the country’s top-performing brokerages are now setting new benchmarks — not just in volume but in the quality and reliability of service that borrowers have come to expect.
As this year’s top brokerages show, better results often come down to the right foundations:
support systems that free up brokers to focus on relationships
client education and long-term financial guidance that builds trust
prioritising broker support through mentorship, compensation pathways and deal collaboration
more brokers handling complex deals and business lending, so clients don’t have to look elsewhere
a team culture shaped by respect, honest communication and a focus on people first
Leading the way is Simplicity Loans & Advisory, ranked No. 1 for the third year. The Sydney-based brokerage credits its success to a work environment where people feel supported and take pride in what they do.
“We believe in doing good business with good people, and we take pride in the calibre of our work and the relationships we build,” joint managing director Jean-Pierre Gortan says.
MPA’s 2025 Top Brokerages report recognises 49 standout firms based on verified performance data across three key metrics in the 2024 calendar year:
total settlement
loan book size
conversion rate
To qualify, each brokerage needed at least five loan writers operating from a single Australian office, with data verified by their aggregator.
While competition was intense across the board, the results reflect a broker channel that is maturing and gaining strength.
That view is backed by PEXA Group’s latest Mortgage Insights data:
Brokers settled $115.06 billion in new residential home loans in Q4 2024, the highest quarterly total on record.
141,872 new loans were issued in the June 2024 quarter, a 25.1% increase from the previous quarter.
The mortgage broking industry grew to $6.2 billion in value, with a 10.6% annualised growth rate over five years.
Refinancing activity declined 11.9% in FY24, with a slight drop in total value, pointing to a pivot towards new lending over switching.
Victoria led the country for new property loan demand in FY24, recording 136,461 new loans despite more overall settled transactions in Queensland and New South Wales.
The Australian market has moved through a period of change. As the fixed-rate expiry wave passed, new lending surged in the June 2024 quarter and borrowers returned to the market, often with more complex needs and higher expectations.
Several trends are shaping the broker channel in 2025 and beyond, according to BrokerEngine:
Buyers are returning after a period of uncertainty, creating an uptick in new lending activity.
Complex deal types and tailored lending strategies are in demand.
Brokers are responding with better tech, stronger compliance and more specialised service.
The duty to act in the client’s best interest has reshaped how advice is delivered.
AI and automation are freeing up time for more valuable client conversations.
Brokerages are building highly skilled teams, support functions, and referral networks.
The top-ranked brokerages are in lockstep with these broader industry trends and leading in areas such as:
team specialisation
AI and automation
diversification and tailored strategies
client life cycle and retention
Australia’s top mortgage brokerages showed solid momentum in 2024, improving performance across the board.
What the averages show across this year’s Top Brokerages:
Total settlements rose by nearly 27% year-over-year to $607 million, up from $478 million in 2023.
Loan book size increased to $1.88 billion compared to $1.58 billion a year earlier.
Conversion rate climbed to 80%, up from 76%.
Brokerages reported larger teams of 14 loan writers and slightly lower operational tenure at 11.9 years.
Top-tier firms widened the gap, but gains weren’t limited to the frontrunners. Median performance increased year-over-year, and the bottom 10 brokerages posted the sharpest rise in settlement volume.
This broad improvement points to a broker channel that is adapting quickly and investing in better systems, stronger relationships and more effective ways of working in a more demanding market.
That kind of operational focus is what separates the best-performing firms from the rest, says Joanna James, chief development officer at the Finance Brokers Association of Australia (FBAA).
“A top brokerage firm in 2025 should be one that has the perfect mix of truly personalised service with top-shelf efficiency in processing,” she says. “Top brokerages will be utilising tech in a safe and secure way to leverage their value proposition for clients. Additionally, they will have diversified offerings that consider the holistic nature of clients’ lending needs.”
David Smith, head of distribution at Liberty, agrees: “A top brokerage should be a trusted guide, backed by the right people, processes and partnerships to deliver value at every step. That means staying agile, informed and deeply connected to client needs.”
A trio of Australia’s top-performing brokerages explain how they achieved standout results by building reliable systems, improving how deals move through the pipeline and creating more space for meaningful client work.
According to MFAA CEO Anja Pannek, top-performing brokerages share a consistent focus on finding smart ways to scale without losing sight of the client.
“One of the most effective ways brokerages can grow revenue is by expanding their capacity through smart resourcing – aligning roles and responsibilities to maximise efficiency,” she says. “This frees up time for brokers to focus on revenue-generating activities and delivering value to more clients.”
That ability to free up capacity through streamlined operations depends largely on well-integrated systems, supported by the right tools. Pannek says that means harnessing tech that works in the background while brokers concentrate on service.
“Smart use of AI and open banking enables brokers to provide faster, more personalised solutions that meet evolving borrower expectations.”
But it’s not just about automation for efficiency’s sake. The best brokerages are deliberately choosing tools and workflows that amplify their ability to educate, engage and retain clients.
“Top-performing brokerages also find opportunities to diversify,” Pannek notes. “Value-added services can be an excellent way to expand revenue streams while deepening client relationships.”
Headquartered in North Sydney with branch offices in Sydney and Chatswood, director William Xin oversees a 36-broker team supported by local and offshore staff who handle loan applications, post-settlement services and client service.
XIN Mortgage built its CRM system from scratch, creating processes that connect easily and keep the business running efficiently.
For example, its platform has automated loan anniversary rate reviews and two-year home loan health checks to ensure clients are on the proper lending structure.
“By leveraging these systems, our brokers can focus on income-generating activities such as sales and relationship-building,” says Xin. “This boosts satisfaction and leads to more repeat and referral business.”
Over 50% of its business comes from a robust referral system of accountants, buyers’ and real estate agents, and satisfied clients. Smith praises this type of approach for attracting new clients, which he feels in today’s market relies on being proactive, visible and consistent.
“Top brokerages are investing in their digital presence to ensure they’re easy to find, easy to engage with and clear about the services they offer,” he explains.
The top-performing Liverpool-based brokerage’s consistency is anchored in a dual focus on strategy and structure.
As part of the Rethink Group network, with affiliated offices across major Australian cities, Rethink Financing’s team focuses on building the best-fit finance strategy early and supporting clients as they search for the ideal property.
“This avoids rushed decisions and leads to higher-quality settlements,” managing director Son Pham says. “By the time a client is ready to purchase, our team is already in execution mode.”
Its brokers maintain proactive relationships with BDMs and lenders, strategising through every deal to get the best client outcome.
“No two clients are the same, and we treat each scenario uniquely,” he adds.
That, combined with the brokerage’s CRM, automation and templated workflows, ensures high conversion rates and nothing falling through the cracks. Pham credits a blend of long-term client focus and operational readiness as key to sustaining high conversion and settlement rates, even in an unpredictable market.
As the MFAA’s Pannek puts it, “To be a top-performing brokerage, businesses must be customer-obsessed, agile, have a clear and distinct value proposition and be constantly looking for opportunities to evolve.”
Rethink Financing’s approach reflects that ethos.
From left to right are Mark Lancaster, Claire Ferguson, Thomas Balnaves, and David Dobson
To help brokers stay client-facing in a buoyant regional market, the Balcatta, WA-based top brokerage segmented its back-office staff into three key areas:
data collection and management
lodgement
post-approval
“Our client group is heavily focused on first-home buyers, which requires strong education,” says managing director Dean LaFrenais. “We can’t provide that without a solid backend.”
LaFrenais credits those changes and his team’s expertise for making the brokerage more organised, responsive and productive. Its workflow system was recognised at a recent annual award ceremony, a testament to the operational backbone that keeps the business humming.
“Workflows are a real strength for us,” he adds.
Industry experts agree on the importance of digital tools in scaling, efficiency and visibility, especially when combined with service and human connection.
“Technology is at the centre of all parts of a broker’s world,” James says. “Top brokerages are using it not just to automate tasks, but to reinforce their value and protect client data. The gap between what tech can do and what brokers bring is narrowing, and that demands ongoing evaluation and integration.”
What will set apart the top brokerages of the future is a commitment to consistent innovation and the ability to evaluate tech for suitability and integrate it within their business system, she adds.
Smith echoes that sentiment: “The best brokerages are using technology to streamline, stay connected with clients, and make smarter decisions. They understand that leveraging technology is not just about automation, but also integration. When brokers can plug into lender systems and get real-time updates, it makes the process smoother for everyone.”
Tightening credit, vanishing refinance incentives and changing lender appetites tested Australia’s top brokerages in 2024. However, the elite proved they could adapt quickly and strategically with a mindset geared towards long-term resilience and recalibration.
Liberty’s Smith notes, “FY24 was challenging for many borrowers, and brokers were right there in the thick of it. With interest rates and affordability putting pressure on borrowing capacity, brokers had to work harder to find the right fit for their clients.”
The FBAA’s James adds that clawback was another ongoing pressure, citing the organisation’s commissioned research showing that 94% of brokers had settled loans affected by clawback in 2024.
“Borrowers were also grappling with a fast-moving property market and tightening servicing restrictions,” she says. “That made it tougher to secure the right loan, even when demand was strong.”
At XIN Mortgage, rate hikes posed the biggest challenges, along with tightening serviceability and policy.
The sudden drop in refinance rebates from lenders prioritising retention delivered a direct hit.
“It caused almost a 50% drop in our refinance volume,” notes Xin. Instead of retreating, the firm focused on two areas:
Education: It ramped up BDM catch-ups, cross-team learning and case studies, especially for non-bank lenders, SMSFs and commercial, paving the way for brokers to expand beyond major bank financing.
Diversification: The team emphasised complex deals, including SMSF, family trusts and businesses, where more value could be added.
“Our in-house financial planning business helps us deliver comprehensive advice, not just for one deal but for the client’s future plans as well,” Xin adds. “We also built a commercial lending team focused on business loans, equipment finance and development loans.”
Rethink Financing’s Pham states that while 2024 was undeniably challenging, the team was built to anticipate and absorb uncertainty.
“We approached every deal with a risk-conscious mindset, structuring finance solutions that could withstand rate rises or policy shifts without putting the client under pressure,” he says. “Our goal is always to future-proof our clients, so they feel supported even when the market shifts beneath them.”
Communication also played a central role, contributing to trust and enabling clients to keep moving forward rather than stalling at short-term hurdles.
“We’re confident that as conditions improve, many of these clients will return, and we’ve already built the systems and processes to serve them efficiently when they do,” Pham notes.
InReach Finance’s LaFrenais says the brokerage’s small and collaborative team stood it in good stead in conquering the market challenges of the past few years.
For example, brokers regularly share their knowledge and experience with team members about lender products and bank processes, so everyone is at the leading edge.
“We moved from rote weekly check-ins to monthly sessions where we bring in lenders for policy updates,” he adds. “Then, we debriefed as a team, and that helped us navigate the tough times. I’ve got brokers who’ve been with me for nearly a decade, so it’s a stable team.”
Talent retention remains one of the industry’s ongoing challenges, and the top brokerages have successfully engaged, supported and encouraged their teams to perform at the highest level.
XIN Mortgage has taken a structural approach, designing support systems and career pathways that take pressure off brokers and give them room to grow. That includes a hybrid compensation model, combining salary and commission for new brokers.
“Because of the high cost of living, especially in Sydney, cash flow is tough on brokers during the early months,” remarks Xin. “Once they build a stable client base and lead flow, they transition to full commission. It helps them focus on growth rather than survival.”
Senior brokers also attend early client meetings with junior brokers to help guide conversations and improve conversion outcomes. It’s a mentorship model that aims to build confidence from the outset.
At Rethink Financing, the culture is tight-knit by design.
“To me, my brokers are like family, and that’s how we operate,” Pham reflects.
To keep the team motivated and engaged in a competitive environment, the brokerage prioritises one-on-one training through regular deal reviews and individual support for skills development.
That support also extends outside of the workplace.
“We eat together, laugh together and celebrate our wins as a team,” he notes. “That genuine sense of care and connection creates a culture where people want to show up, grow and succeed. I look after them and they look after me.”
At InReach Finance, it’s less about management techniques and more about the kind of people LaFrenais brings on board.
“I hire based on the person, not just the skill,” he reflects. “Our team comprises people from different backgrounds who all get along well. We like each other’s company and have fun. But when the pressure is on, we knuckle down.”
Its team culture is grounded in mutual respect and shared goals.
“We do social things such as monthly lunches and go on a couple of big outings yearly,” he says. “It makes people feel valued. I’m fortunate because they’re just great people.”
A consistent theme emerged across this year’s top performers: educating clients, earning their trust and delivering solutions tailored to their complete financial picture.
“Brokers must maintain their focus on clients and adopt a hyper-personalised approach to client communication and engagement at ‘moments of truth’ for the client in their financing journey,” says Pannek.
XIN Mortgage’s new clients benefit from education, which helps to build trust. The team focuses on long-term strategy and the appropriate product in the first meeting.
“We challenge clients to think ahead: Should they borrow under a company or a trust? Should they structure for future investment?,” Xin says. “We want clients to feel like they’re working with someone knowledgeable who adds value beyond a single deal.”
Existing clients, meanwhile, can take advantage of the brokerage’s ongoing service, which includes post-settlement reviews, check-ins and rate updates.
“That strengthens trust and drives referrals,” Xin adds. “Even if a broker leaves, clients stay and ask for a new broker. That speaks to the strength of our relationships.”
Rethink Financing stands out because it takes the time to offer straightforward advice, follows through carefully and always puts the client first.
“We won’t stop until we’ve found the optimal solution,” Pham says. “That builds trust, which translates into confidence.”
Smith remarks that today’s borrowers are more informed and empowered.
“They know what they want and expect a seamless experience. That’s driven brokers to be more transparent and responsive.”
James has also seen clients become more aware of data security around financial data.
“Borrowers are asking more stringent questions about how their data will be used and the security around the process,” she adds. “Top brokerages are becoming more proficient in not only utilising this technology, but communicating to their clients the measures they have in place to protect their information.”
Rethink Financing also operates with a long-term focus, and Pham’s background in financial planning helps shape that mindset.
“We’re not just chasing short-term wins; we’re helping clients build sustainable wealth,” he says. “That perspective ensures our solutions align with their bigger financial picture, making our advice strategic and enduring.”
Similarly, the InReach Finance team invests heavily in initial conversations with clients, including various components to assess loan readiness.
“Some clients aren’t ready because of credit or spending issues, and we don’t rush into applications. I tell my team we’d rather walk away than force a deal,” LaFrenais explains.
This patience and thoroughness led to a more reliable pipeline, stronger conversion and borrowers who felt ready to move forward with confidence.
In the past year, the top brokerage has strengthened its brand online, focusing on Google reviews. By mid-2025, it had amassed close to 180 reviews and a 4.9 average rating.
“I’m not afraid of a bad review; it shows we’re real,” LaFrenais adds. “The clients are honest and name their brokers and back-office staff, which helps connect the team.”
The brokerages that rose to the top in 2024 increased their numbers, tightened operations, built reliable teams and stayed focused on clients’ needs. Their results came from consistency, not shortcuts.
What pushed them ahead:
systems that reduced distractions and improved flow
advice shaped around long-term client goals
teams built on trust, training and distinct roles
a steady commitment to relationships over volume
Bankwest is excited to once again sponsor MPA’s Top Brokerages in 2025.
Brokers play a critical role in helping customers reach their home ownership goals, and it’s important to celebrate their achievements. That’s why we’re honoured to be a part of MPA’s Top Brokerages report, shining a light on brokers who demonstrate excellence.
We pride ourselves on the collaborative relationship we have with brokers when it comes to creating secure, uncomplicated and genuinely useful digital banking experiences.
We continually strive to be the best bank for brokers in Australia by providing outstanding support and simple and efficient processes that deliver a smooth experience for their customers.
Ian Rakhit
Bankwest General Manager
Homebuying Distribution
To find the Top Brokerages of 2025, MPA invited Australian brokerages to submit their figures for the period 1 January to 31 December 2024. The online form also asked for details such as the number of active brokers working at each brokerage as well as its total loan book value and conversion rate.
To be eligible, brokerages needed to have five or more loan writers in a single office headquartered in Australia. Aggregator information was also provided by applicants, and their aggregators were then required to verify the details submitted.
The final ranking was weighted across three areas: total loan book size, total settlements in the specified 12-month period and conversion rate. Each brokerage was ranked in each of these areas, and the ranks were then combined to produce a final tally.
MPA’s Top Brokerages 2025 report is proudly sponsored by Bankwest.
