KiwiSaver should be compulsory for employers and employees, broker

The scheme is key to helping first-home buyers get onto the property ladder

KiwiSaver should be compulsory for employers and employees, broker

NZ Adviser talks to Auckland-based mortgage adviser Nick Kotze from Loan Market about developments within the adviser industry, the challenges and rewards of the job and his most memorable client experiences.

Kotze was named a Top Adviser in our annual Top Advisers Rankings 2018.

How do you think the mortgage broking industry has changed over the last two years?
I believe we are becoming more relevant and needed as time progresses. With all the LVR, investment property, lending and servicing rule changes in the market, a lot of our clients are confused and need help navigating them to understand their personal position.

What do you enjoy the most about your job?
Enabling and assisting first home buyers to buy their first home.

What has been the secret to your professional success? 
Everything we do is in the client’s best interest. People can sense when you are real and are acting in their best interest, and if you mix that with delivering on what you set out to do, then people appreciate that and naturally recommend you to their friends and colleagues.

What is the key to overcoming the challenges you face as a mortgage broker? 
Having good and experienced staff. We all have things we are good at and other things we are not good at. Therefore, if you have people as part of the process who are good at their function, it leads to an overall outcome which is much better than if you did it all on your own.

What is your best strategy for generating leads? 
Doing a great job each and every time. If people experience value they tend to recommend you to their friends, which is the best endorsement you can get.

What was your most memorable client experience this past year? 
When we had one of our clients in tears of disbelief when they finally bought a property after we had been helping them for several months. They initially believed they would not be able to get onto the property ladder.

What do you think of the impending changes in the regulatory landscape? How will this shape the future of the industry? 
I think mostly it is positive for the clients. The aim is to deliver a better outcome for the client and if that means the industry needs to adapt then I can’t see it as being a bad thing. My business is committed to the process and fully welcomes it.

Outside of being a broker, what are your favourite hobbies? 
These days my two boys’ sports and activities occupy a lot of our time, which I enjoy, but when time allows I do like a game of golf.

If you were the Prime Minister for a day, what would you do? 
I would increase the Kiwi Saver contribution rate percentage to 4% as minimum and I would make it compulsory for each employer and employee. This scheme has been key to people being able to buy a property and if everybody was involved and at a slightly higher rate they would be able to buy property sooner and after that naturally save for retirement.

If you could offer one piece of advice to someone starting a career as a mortgage broker, what would that be? 
Aim to do a great job each and every time. Go over and above what is expected.