What a great time we all had at the nMB Annual Broker Conference last week on the Gold Coast.
A huge thank you again to the businesses that helped us through sponsorship - Adelaide Bank, ALI, AMP, ANZ, CBA, Cherry Solutions, Homeloans, ING, La Trobe Financial, NAB, RockSure and Westpac. Your support, both financial and the level of involvement during last week was greatly appreciated.
The speakers – Chris Caton, Ross Hunter, Barry Urquhart, Richard Williams and Laurie Lawrence - were first class, providing a wide range of industry specific and general, real life insights. When you hear from someone like Lawrie Lawrence, it starts to make sense as to how Australia always fights well above its weight division when it comes to the Olympic Games!
The free time on Thursday afternoon, where we took the opportunity to socialise with an afternoon of golf or visiting Movie World, provided plenty of conversation and tall stories over drinks and dinner Thursday evening.
Congratulations to all the winners – listed further within Intell - announced at the Awards Dinner on Friday night.
Once again Floyd Nangreave, as master of ceremonies, stole the show through his insightful questions and hilarious antics over the conference.
The launch of nMB’s branded loan product, “nMB Direct”, has received great early feedback from our brokers and media coverage. This partnership with Rockhampton Building Society, who will fund and manage the product, introduces a competitive, unique addition to the nMB Lender Panel.
At a time when many lenders are restricting or limiting broker accreditations, we felt it very important to provide a lender who is open to all nMB loan writers and provides a truly competitive alternative to the major banks.
As we get closer to the 1st April opening date for all finance brokers to register with ASIC under the Australian Credit Licence requirements, we will start to meet with all agreement holders to run through in greater detail our licence model which was announced at the conference.
Until next time, stay well!
Gerald Foley - Managing Director
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In the last week of February, we hosted the nMB annual conference on the Gold Coast. By all reports it was a huge success and we take this opportunity to thank all our brokers and sponsors for supporting the event.
The business content included a distinguished line-up of speakers including:
• Gerald Foley, Managing Director for nMB;
• Chris Caton, Chief Economist for BT Financial Group;
• Ross Hunter, CEO of Harveys Real Estate NZ;
• Richard Williams, Partner of MacGillivrays;
• Barry Urquhart, Managing Director of Marketing Focus; &
• Laurie Lawrence, former Olympic coach and successful businessman.
Ross Hunter’s address proved most popular due to the practicality of the message. Ross firstly discussed his early days in Western Australia as a real estate agent and how he established one of New Zealand’s leading real estate groups. Ross then presented his ideas on how mortgage brokers may work closely with agents in their local area. Here’s a snapshot…..
Be interactive not proactive
Stay top of mind with agents by working along side them at open days, listing interviews and sales meeting. Don’t rely solely on passive referrals.
Make an impression by being different
90% of brokers do the same thing. Search for the ideas 10% of brokers are implementing to secure 90% of the results.
Gain the support of agents
Real estate agents thrive on results and love to be recognised. Acknowledge agents at every opportunity, especially when they secure a new listing; and ensure you congratulate them for every sale.
Create your own opportunities
Real estate agents and their clients want to deal with successful people so crank-up your public relations machine.
• Discuss examples of how you have assisted clients in the past;
• Openly communicate your award winning sales performance;
• Take a position in the local media and become the face of home lending
• Discuss the option of incorporating your details on agent’s signboards
• Take an advertising position in the agent’s weekly magazine
• Ensure you send your monthly newsletter to each sales agent in your area
• Build relationships with local tradespeople – they are usually the first to know a home will be placed on the market
• Offer to action a co-branded direct mail campaign to clients within their rent roll. This may generate activity for listings, sales and home loans.
Direct your marketing efforts to the source
As soon as a “for sale” sign goes up in your area, send the owner a marketing kit. The marketing kit should include items that will assist the owner with their move, helpful tips to secure the right loan, branding items and a means to contact you.
Communication is the key
Use every means to stay in touch with agents in your local area, such as: SMS; email; business networking websites, hand written notes; phone calls; and office visits.
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The social component of the conference included two activities, both of which were thoroughly enjoyed. Around 50 delegates were thrilled by the exhilarating rides at Movie World…..and we have the pictures to prove it! The other 50 delegates carved-up the Royal Pines Championship Golf Course. Being the week before the ANZ Ladies Masters, the course was immaculate and a privilege to play. Competition was hot with Graeme Vimpani taking first prize with 46 stableford points, on countback.
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The conference ended with the 2009 annual awards dinner and we congratulate the following winners:
nMB Broker of the Year
Regional Sales by Volume: NSW ACT
Gerard Tiffen, Tiffen & Co.
nMB Broker of the Year
Regional Sales by Volume: Vic
Janet Bald, First Rate Mortgage Brokers
nMB Broker of the Year
Regional Sales by Volume: SA/QLD/TAS/WA
Rick Field, United Home Loans Tasmania
nMB Broker of the Year
Regional Sales by Value: NSW ACT
Peter Wotherspoon, Core Mortgage Brokers
nMB Broker of the Year
Regional Sales by Value: Vic
Charles Howitt Howitt Partners
nMB Broker of the Year
Regional Sales by Value: SA/QLD/TAS/WA
John Padley, GGS Finance & Mortgage
nMB Broker of the Year
National Sales by Volume
Gerard Tiffen, Tiffen & Co.
nMB Broker of the Year
National Sales by Value
Peter Wotherspoon, Core Mortgage Brokers
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Thanks again to all nMB brokers, partners and staff for making the conference a success and we thank our loyal sponsors
including: Adelaide Bank, ALI, AMP, ANZ, BankWest,
CBA, Cherry Solutions, Homeloans, ING, La Trobe Financial, NAB, RockSure & Westpac.
Sal Cinque - Director, Sales and Marketing
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Early action is key to avoiding mortgage stress
A recent article reported by the Sunday Telegraph (31/01/2010), suggests that almost half of the first home buyers entering the market as a result of the Government’s 2009 mortgage boost grants may be struggling to meet their repayments and many are already in arrears on their loans.
Encouraged by the grants of up to $24,000 and as much as $18,000 in stamp duty relief, the Telegraph reports that up to 50% of the 135,000 first home buyers who entered the market in the last 18 months are expected to fall into the mortgage stress category by the end of 2010.
As a trusted professional, Mortgage Brokers are often the first point of contact in these situations. It is therefore important to understand the situation and immediately take action by involving the Lender or Mortgage Manager.
COSL recently released a paper on “Dealing with Borrowers in Financial Difficulty” (2nd February 2010). There have been revisions to the industry codes of practice and rules developed to assist. According to COSL, Lenders and Mortgage Managers are now recommended to consider repayment variations such as reduced interest rate periods, conversion to interest only, extensions to the loan term and/or capitalising arrears.
Early action is key to avoiding mortgage stress, so stay in regular contact with clients you feel may be at risk and if required, formulate a plan to help protect their interests.
Jodie Hainey - Lending Services Manager
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Following on from January’s Intell piece on lender accreditation policies, we have recently introduced an Accreditation Matrix on MBS, which can be found in the Business Management section of the Broker Toolkit.
The matrix contains information on various performance requirements that some lenders have introduced in order for brokers to maintain their accreditation.
The exercise has highlighted the fact that out of the 20 lenders on the nMB panel, five have placed performance requirements on brokers.
The fact that there hasn’t been widespread adoption of this practise, does give those brokers who may have fallen outside the volume requirements of some lenders, a healthy variety of alternatives with whom they are able to deal with.
Adelaide Bank, ANZ, BankWest and Suncorp have not imposed performance hurdles and offer a wide spread of products. In addition, recent product tweaks by non bank lenders, Homeloans, FirstMac, Collins & more recently The Rock suggest the signs for non bank lenders are once again looking good. Product is one thing but a significant change in this segment has also occurred with credit. Tightening of credit policy across the board has narrowed what has in previous years been a wide gap between Banks and some Non Banks to a level where they are now both drawing from a similar, more conservative credit policy.
Kon Avramidis - Director, Operations
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nMB Broker - John Kennedy, Auspak Financial Services
1. My all time favourite food is:
That’s easy, Thai !
2. The last book I read was:
Suspense Spy Thriller by Steig Larsson.
3. Lately I’ve been listening to a lot of:
My kids complaining about going back to school….oh, you meant music, Wolfmother, Pete Murray, Missy Higgins, Snow Patrol, James Blunt, Kings of Leon, Dido & Midnight Oil. Picking up on a trend here, no me neither…I just love all types of music !
4. My favourite saying is:
From a song by “Seal”, “we are never gonna survive unless we get a little bit crazy !
5. My Ideal Sunday involves:
Hanging out with my family !
6. My biggest inspiration is:
Brother in Law Al who broke his neck playing Rugby & became a full Quadriplegic, the guys glass is half full all the time.
7. If I didn’t live in Australia I would live in:
Vegas. A good mate believes Vegas would suit me.
8. The most extravagant gift I have bought myself was:
A Jeep Commander with 20 inch wheels and a chrome front grill. My mates say it looks like a pimp mobile and they now call me “50 cent”.
9. If I could have dinner with anyone (dead or alive) I would choose:
John F. Kennedy. I would like to know the reasons that may have led to his assassination.
10. Three things I would love to do in my lifetime are:
I can't wait to retire. I would like to travel around Australia before going on a world trip. Looks like I am going to need a substantial trail book to support my retirement.....so back to work for me!
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nMB Training Dates
Please see below for upcoming nMB training sessions:
QLD - Basics - Wednesday March 10
ACT - Advanced - Thursday March 11
VIC - Advanced - Tuesday March 23
NSW - Basics - Wednesday March 24
VIC - Affiliate Marketing - Tuesday March 30
Invitations to follow. In the interim, please email your interest in attending to your relevant state BDM.
