MoneyQuest survey reveals happy franchisees

By Sarah Stowe | 06 Jul 2021 View comments

A recent survey of MoneyQuest franchisees reveals 96 per cent of respondents are happy with their decision to become a mortgage broker. 

And the future is looking good for these franchisees. Nearly three quarters (68 per cent) are feeling very confident of their business prospects, with the remaining 32 per cent optimistic about the upcoming 12 months.

The MoneyQuest sentiment survey explored several areas of interest including lender service levels, media publication preferences, career satisfaction, and MoneyQuest support services.

The responses also revealed that despite the overall enthusiasm for their roles, franchisees are looking for more reliability and swift responses from some lenders.

Franchisees listed four lenders that they consider to be the most reliable: Macquarie, ING, Bankwest and ChoiceLend.

MoneyQuest managing director Michael Russell agrees that these lenders, and some others, have made significant inroads into improving processing times for broker customers, but emphasises there is still work to be done.

“There are still lenders out there that are not working hard enough to improve their service levels,” he says.

Mortgage & Finance Association of Australia (MFAA) CEO, Mike Felton, says the franchisees’ positive response is likely linked to the pivotal role mortgage brokers play in helping others to achieve their property dreams.

“The fact that the vast majority of brokers are content with their choice of profession despite the trying
circumstances of recent months and years is not only a testament to the resilience of those working in our
industry, but also reflects the key role mortgage brokers play in the economy and the communities they serve.

“Mortgage brokers play a critical role in providing access to credit, helping people to achieve one of life’s great goals in purchasing a property. This provides tremendous professional and personal satisfaction for brokers which I believe contributes to this survey outcome,” he says.