After yet another day of reading uninformed articles from journalists and columnists, it makes me wonder about who actually reads what they are submitting to the market and where they get their information from. It clearly reads as if they have just made assumptions… unusual? Unfortunately not.
After working in the industry for over 20 years, many of us have been through commission reviews, financial inquiries, banking reforms and unlimited amounts of change. For the people that have been through this journey and are still here, and there are many, we say bring on the commission. For the people and businesses that have continued to build and support the third party industry, they will only be aware that this is simply an opportunity for the market to be improved by drawing out and removing the members that don’t conduct themselves with the right objectives in mind.
Whilst we are already seeing the ramifications of people taking advantage of clients and lending practices in order to get financial incentive, it needs to be made abundantly clear that not all brokers are the same and many have invested a significant amount of time and personal investment to maintain a business in what can be a very challenging and demanding industry.
For the ill-informed columnist who questioned why she gave up her avocado on toast so she could buy property, try understanding what a broker has to do to get paid a commission on a loan in the current credit climate. Once you have walked our shoes you then may reconsider your thinking.
Our business strives to provide consumers solution-based products and services that add value, not to give them information that is going to lead them to a bank or a similar structure that is only looking at them as a transaction. We believe in transparency in lending.