Currently, there is an entire team of 23 working in the modern, open plan office overlooking the city on Castlereagh Street in Sydney’s CBD.
Lambros has a team of client service managers dedicated to processing loan applications for brokers. Whilst all new brokers are required to learn how to process their own loan applications at first, Lambros says it is important to have support systems in place for more experienced brokers. He organises this through a unique colour-coding system: red is code for administrative tasks, blue is code for sales tasks and black is code for structure and strategy.
“When a broker ends up doing too much red, they can’t do enough blue and then what ends up happening is they did. Their sales drop because they are doing all this paperwork and they are then back on the treadmill trying to get your results back up,” he told Australian Broker.
“So a broker will get to a certain point where they are doing too much red and that’s when we say they should start handing their paperwork over. They know what to do, so now they can rely on someone fulltime and they can get back to doing more blue.
“That’s how you get a mortgage broker going from settling $30 million in a year to $60 million in a year.”
LJ Hooker Home Loans Eastern Suburbs also supports its new brokers by supplying leads from its real estate partners, helping them build their networks and make a living quicker.
“…[W]hen I bring a broker in here, it is not a sink or swim situation which was kind of given to me. If you join us, we really want you to succeed. We will do everything we can to make you succeed. So recruitment is really critical to us, but it is a give and take.