The event will provide brokers key skills to expand their offering
The MFAA New Commercial Broker workshop, set to run across the country this October, aims to equip mortgage brokers with the skills and strategies needed to expand their business into commercial finance.
Top finance brokers David McCleery, of MCP Financial Services, and Todd O’Neill, of Xenium Finance, are presenting the workshops. Both agree that adding commercial lending to a broker’s offering provides key advantages.
“Being able to service more financing needs for your clients strengthens your relationship with them … [and helps] you retain them as a mortgage client,” O’Neill said. “Mortgage brokers often have existing clients who are business owners. If these customers look elsewhere for their commercial finance needs, there is a risk they’ll take their home loan with them [as well] and you lose them as a client.”
For McCleery, expanding into commercial finance meant reduced reliance on a single offering. “Extending into commercial lending can [also] be a chance to learn new skills and have fresh client conversations and experiences,” he added.
McCleery and O’Neill agreed that a mortgage broker didn’t need to go ‘all in’ to make it in the commercial finance market. The workshop will explore the different types of commercial lending a broker can start with before adding more as they build experience and gain confidence.
The one-day workshop will also feature a lender expo to allow attendees to interact with commercial lenders and find out about their products themselves.
MFAA CEO Anja Pannek noted that the latest MFAA Industry Intelligence Service (IIS) report showed a rise in mortgage brokers who also wrote commercial loans, highlighting the industry’s ‘continued customer focus’.
“[Brokers are] at the forefront in finding lending solutions for Australian homebuyers and business owners,” she said.
The workshop will run across the country in October and is open to members and non-members.
