Brokers looking to utilise new technology should re-examine their choice of lenders, Firstfolio has stated.
With many lenders requiring face-to-face meetings to take place in person rather than over Skype, Firstfolio executive director Mark Flack has said brokers could find themselves disadvantaged as consumer behaviour and expectations change.
“I think it probably places brokers in a difficult position if the banks they’re using don’t have policies that are sympathetic to that,” Flack commented.
A growing number of consumers are more comfortable doing business online, Flack said, and Firstfolio’s online arm, eChoice, has seen more than a third of its customers choose to purchase their home loans directly online. With this growing shift in consumer sentiment, Flack said brokers should consider lenders’ policies surrounding
technology when choosing to deal with a lender.
“They may need to look at the various lender options and say if they’re getting a large number of customers who don’t want a visit in their home, maybe they need to point to lenders that would allow them to do that,” he said.
