Aggregator launches initiative to boost broker presence on high streets
Mortgage broker aggregator Loan Market has introduced a new program to support its business owners in establishing retail locations across Australia.
The Shopfront Program offers up to $30,000 in financial assistance to help brokers set up their own premises and enhance their visibility with prominent signage.
Angela Tracey, chief marketing officer at Loan Market, said the initiative aims to make brokers more accessible in their communities, responding to the growing demand for broker services.
According to the MFAA, three out of four borrowers now choose a broker for their home loan. Tracey noted that the number of bank branch closures has exceeded 1,500 over the past five years, as reported by APRA, coinciding with increased reliance on brokers.
“It’s clear that brokers have won the trust of customers,” Tracey (pictured right) said. “Brokers have stepped-up in their communities as banks have stepped-out, shifting their service models.
“We’re presented with a timely opportunity for brokerages to elevate their presence in retail precincts, complementing the online and offline profiles they’ve built. Getting in front of local customers at the right moment in their purchasing journey is key, and having a strong, visible brand presence in your local community is critical.”
Tracey added that the program, available until July, is designed to help business owners create eye-catching retail spaces that attract attention both day and night.
One example is Loan Market Ignite in Queensland, which recently opened a second office in Ipswich, complementing its existing shopfront in Auchenflower, Brisbane. Head broker Stephanie Thomas has been active in the Ipswich market for three years and sought a dedicated retail location to strengthen community ties.
“It’s a community where people want to meet you face-to-face: first home buyers want to sit down with you and ask questions about the process, and investors want to talk about their plans and the best way to structure their debts,” Thomas said.
“Since we opened, we’ve had other professionals in the area, like architects, reach out to us to introduce themselves and see how we can help their clients. Even before we opened, we had multiple walk-ins off the street. Online community groups have also been much more receptive to us because we’re now seen around town.”
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