A commercial lending workshop has been designed to not only equip mortgage brokers to diversify, but to do so in a sustainable manner, carrying the high levels of knowledge, professionalism and confidence exhibited in the residential space into a new sector. The courses will be hosted by Jean-Pierre Gortan and Matthew Johnson, managing directors of Simplicity Loans and Advisory, and the minds behind the venture.
Drawing from their 15 plus years of experience, the free workshops will cover the basics of the commercial market, including the products and lenders in the sector. However, the course is unique in that it will drill down yet further, highlighting in detail the factors that clients and brokers should consider when choosing a commercial finance provider, with specific examples used to highlight the risks of credit applications and how to mitigate them.
“The idea is to help brokers learn how to fish, rather than just feeding them,” explained Gortan.
As such, upon completing the program, course participants are given access to an online resource that serves as the hub of both the group training and referral network – Marketplace.finance – where brokers will be able to discuss commercial deals, upskill and seek support from both the team and their peers.
Additionally, the site helps define the responsibilities of the broker and communicates Simplicity’s role in future commercial deals supported by the platform.
“Everything must be transparent and formalised to give people as much comfort as possible. We aren’t here to take their deals or clients, but to help them get deals done and build their business,” said Johnson.
While the interest in diversification that arose during the royal commission has somewhat abated since the immediate threat to remuneration has passed, Gortan warned mortgage brokers against waiting for another crisis point to consider exploring additional revenue streams.
“For brokers to be able to diversify their business in the next 12 to 18 months, they need to start making changes now,” he explained.
“Most brokers are making reactive business decisions based on things that are happening in the market today. But they are going to miss the boat unless they plan for the future,” he added.