The most successful mortgage broker in Australia has been revealed in The Adviser’s Elite Business Writers ranking for 2016, with the winner beating the nearest competition by more than $283 million in loans.
Sponsored by NAB, the Elite Business Writers ranking lists the most successful brokers in Australia by total volume of home loans, business loans, and insurances.
Writing well over half-a-billion dollars in total loans during 2015/16, Sydney broker Justin Doobov came in at the top of the Elite Business Writers ranking for the third year in a row.
The managing director of Intelligent Finance in NSW wrote $680,945,877 in total loans over the last financial year, including a total of 695 mortgages (making up $322,225,177 of his loan book).
The Intelligent Finance managing director has featured in every Elite Business Writers ranking since its inception in 2009, and has consistently written very large volumes.
According to the broker, his success comes from “focusing on getting the best result for each client”.
Mr Doobov told The Adviser: “I know that if I add value and save my client time and money with my service and advice then the client will want to do business with me again, and will refer their friends and family.
“I have built a very loyal client base who constantly refer me new business so I can focus all of my time being dollar productive seeing new clients and writing new loans as opposed to having to hunt for business.”
Adding that winning awards, such as the Elite Business Writer, is “a great recognition” of his hard work, Mr Doobov said that the achievement he is most proud of is “turning the business that [he] started in [his] parents garage into what it is today” and that the company not only supports his family, but all of his staff and their respective families.
His top tips for brokers looking to grow their business? Don’t chase the commission, don’t forget about existing clients, and remember that ‘no’ is “negotiable”.
Mr Doobov explains: “If you are consistent with how you service clients, the commissions will come to you ten-fold. Clients can smell a desperate broker. Also, don’t forget about your existing clients, they are the ones who have built your business so far, and they are the reason you get trail, plus they are the best ones to refer you more clients.
“Lastly, no is negotiable. Many times, a lender or a client has said no, but when you drill down as to why they are saying no, many times you are able to turn the no into a yes. So, don’t give up, success is around the corner.”
Although Mr Doobov wrote the largest volume of loans, the broker that wrote the most in mortgages was Mark Davis of The Australian Lending & Investment Centre, who wrote a total of $335,973,416 in home loans last year.
Congratulations are due to all of the top 50 brokers in the ranking, who cumulatively have a total of 505 years of broking experience and industry knowledge under their belts, and wrote a staggering $5.8 billion worth of residential loans between them in the year to 30 June 2016.
Are you one of the country’s top 50 brokers? Find out in the full Elite Business Writers ranking 2016.