17 per cent of homeowners are confident in mortgage brokers’ services.

17 per cent of homeowners are confident in mortgage brokers' services

As presented in The Adviser, a recent survey has revealed a positive correlation between property owners’ confidence levels and their engagement with mortgage brokers’ services. The research gauged confidence levels on a scale of 1 to 5, with 1 indicating “not confident at all” and 5 representing “extremely confident”. The results found that of the 17 per cent of respondents who utilised a mortgage broker expressed complete confidence in navigating the mortgage market. This number significantly presents the benefits of mortgage brokers’ services.

In comparison, only 9 per cent of “do-it-yourself” (DIY) homeowners and 8 per cent of those who chose to stick with their current lender without exploring alternative options reported similar levels of confidence.

What do these results represent? This data underscores the pivotal role mortgage brokers have in guiding and supporting clients to navigate the complexities of the mortgage market. Their contribution involves not only offering personalised advice, but also providing access to a diverse range of lenders and ensuring a comprehensive understanding of market conditions.

Additionally, the research presented that 16 per cent of homeowners are choosing to remain with their current lender in an uncertain interest rate environment. This data highlights the need for increased awareness regarding the advantages of consulting mortgage brokers to negotiate with lenders in such situations.

How can brokers leverage this data to attract and retain clients?

As a broker, you can leverage this data to capitalise on the positive correlation between homeowners and mortgage brokers’ services, by implementing the following tactics:

1) Showcase Expertise and Guidance

Highlight your expertise and guidance by showcasing success stories and testimonials from clients who have experienced heightened confidence and success through your guidance.

2) Offer Educational Resources

Empower potential clients with knowledge by providing educational resources such as webinars, workshops, or blog articles, reflecting how your support can enhance their confidence in making informed decisions.

3) Utilise Case Studies

Develop case study materials illustrating different scenarios and how they might impact individual borrowers. There’s no right product for everyone, and by working through this you are allowing the client to make a well-informed decision that aligns with their long-term plans.

Taking advantage of the 17 per cent of homeowners who are confident in mortgage brokers’ services.

Overall, the positive correlation between engaging a mortgage broker and elevated confidence levels in decision-making is a promising trend, even amid the unpredictability of the current economy and competitiveness of the industry. It is obvious that Australian homeowners value the services provided by mortgage brokers, and now is your opportunity to leverage this trend and take advantage of the benefits it could bring for you and your business.

At Vision, we recognise the importance of supporting our broker community. We offer a wealth of resources to help brokers effectively communicate with their audience. Our comprehensive mentorship and coaching enables brokers to refine their skills, overcome obstacles, and accelerate on positive trends in the industry. If you’re interested in discovering how Vision can assist you in leveraging your crucial role in guiding and supporting clients and prospects, contact us today.