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Bluestone Home Loans recently hosted its National Broker Roadshow, a multi-city tour that addressed non-standard lending and inspired brokers to think outside the box.
Hundreds of brokers across the country joined the events to educate themselves and connect with like-minded professionals.
Inspiration for this event stemmed from a growing segment of brokers looking to access varied forms of lending.
Speaking to Broker Daily following the event, Bluestone Home Loans’ chief commercial officer Tony MacRae said there is a strong curiosity among brokers around alt doc, near prime, and SMSF lending.
These forms of lending often don’t receive the attention that more traditional lending structures do.
However, MacRae said it is encouraging to see more and more brokers looking to expand offerings and learn about the opportunities diversification can provide.
“There’s a massive refinancing opportunity, particularly with SMSF loans – many are sitting well above current rates, and brokers who lead those conversations can deliver real value while strengthening their credibility and pipeline,” MacRae said.
The role of the broker is evolving rapidly, which was another opportunity brokers at the event were eager to discuss.
Rather than a simple transaction, brokers have become trusted advisers.
MacRae said there is a golden opportunity for brokers to provide a far more engaging service by positioning themselves as strategic partners.
This can be achieved through collaboration with other professionals, such as tax advisers, accountants, and financial planners.
This greatly improves the value proposition and will keep clients coming back, said MacRae.
“We had one broker share how they worked with a tax adviser to reduce a customer’s ATO debt by tens of thousands, earning a lifelong advocate,” he said.
Event manager Chuchu Hamanyanga said there is a “hunger to learn” in the modern broking community.
“We had brokers who’d never touched an SMSF loan get really into the conversation, ask the right questions, and connect with our experts,” said Hamanyanga.
Also identified at the event were the key challenges brokers are facing in the market right now.
The primary challenges, said MacRae, were missed opportunities.
Brokers are turning down deals that they could have done. This highlighted a knowledge gap among some in the industry.
“Many brokers are essentially leaving money on the table because they don’t fully understand the scope of what’s possible in non-standard lending,” said MacRae.
Despite some identifying issues with knowledge gaps, event attendees demonstrated a keen ability to learn and develop skill sets.
For those looking to further develop key skills, especially in the AI and tech space, the Broker Innovation Summit on 25 June will help identify and answer some of the key pain points in this space.
For more information and to reserve a ticket, click here.
[Related: Second mortgages: Not just for seasoned brokers]
