Mortgage Business Awards Finalist

Mortgage business awards 2023 finalist

Purple Circle a finalist in three Mortgage Business Awards categories 

 

Once again, Purple Circle is turning heads — and we couldn’t be prouder. Our company has made the shortlist and been awarded finalist seals across three major categories in the 2023 Mortgage Business Awards.  

The Mortgage Business Awards recognise the top performers in Australia’s thriving mortgage industry. This comprehensive awards program highlights excellence in every quarter — from mortgage brokers, to aggregators, to lenders — and the range of innovators, tech providers and staff servicing the channel. The Awards consider excellence in operations, technology, and innovation as well as what it takes to deliver outstanding customer outcomes — areas we pride ourselves on at Purple Circle. 

 

The awards we’ve been shortlisted for are: 

Mortgage Business Awards 2023 - Purple Circle

1.

Aggregator of the Year. 

Mortgage Business Awards 2023 - Purple Circle

2.

Innovator of the Year — Aggregator. 

Mortgage Business Awards 2023 - Purple Circle

3.

Marketing & CRM Platform of the Year – Aggregator/Major Brokerage. 

As a finalist in these areas, we’ve been recognised amongst the top performers in Australia’s booming mortgage distribution space. This is a testament to the hard work we put in for our brokers day in, day out, and goes to show we really are making an impact in the industry. 

Tune in with us for the final winner announcement.  

We know we’re up against several other excellent groups and never shy away from some healthy competition! We hope to take home the win this year in all three of our nominated areas, but recognise that even being shortlisted is a huge achievement and honour.  

The winners will be revealed at the five-star gala dinner at the Sofitel in Melbourne on Thursday, 27 April 2023. We’ll let you know how Purple Circle performs.  

Is it time to trade in your old broking group?

best aggregator for mortgage brokers

Let’s face it, some aggregators have serious mileage on their clocks.

Their engines are out-dated legacy models using too much fuel and under-powered by today’s standards.

 

Despite this their many owners over the years squeezed as much out of them as they possibly could, before passing them on like an unwanted gift to the next owner.

The paintwork is chipped and their tyres have no tread. But still, they keep going…

Now that the holidays are over and a new year beckons, the time is right to treat yourself to a new and improved model.

Today’s challenger aggregators are operating platforms from which brokers contribute to and learn from.

Innovative platform style businesses give up the old overarching control levers, instead allowing everyone full collaboration, inclusion and transparency. They encourage members to not ‘hoard’ their good ideas but throw them in the pot for all to learn and grow from.

Last year’s ‘Innovator of the Year‘ and ‘Boutique Aggregator of the Year’ 2020 at the ABA’s, multiple award finalist Purple Circle Financial Services leads a new breed of aggregator.

Giving it’s members shares and living by an ethos of inclusion and mutuality, ‘Empowering Brokers’ is at the heart and soul of the company.

Believing every broker member has something to contribute, PCFS brokers are involved in important company decisions like lender panel, CRM software platforms, app. integrations etc.

Only 6 years young, Purple Circle recently went past the magical $2.5 billion in settled loans and last year grew it’s broker member numbers by a whopping 213%.

Purple Circle’s open platform methodology is attracting brokers who have grown tired of being treated like a number and are ready to embrace a new breed of mortgage broking support.

 

If you would like to know more, please contact the team.

Is it time to start obsessing over your customers?

Couple shaking hands with business man

I recently read Amazon founder, Jeff Bezos, values obsessing over clients more than he worries what his competitors are doing. Both Bezos and Steve Jobs have previously quoted how they like to start with the customer experience and then work backwards when figuring out how to create the magical difference for their respective customers. No mention of competitors at all. 

Zappos CEO, Tony Hsieh (credited with bringing online shoe-shopping to the masses) stated that 75% of their sales came from repeat customers. How? His whole philosophy was to take the money he would have spent on marketing and invest it into the customer experience. This then allowed word of mouth, delivered via repeat customers, to become their primary form of marketing. In doing so, Hsieh was also credited with single-handedly reshaping customer service.  

Pretty ballsy, huh?  

Actually, not really. 

Try to remember the last time you had an awesome experience or felt the sales-person went over and above your expectations. I’ll bet you went back again for more of the same, even if it was a little more expensive than you’re used to. When you genuinely value an experience, cost doesn’t come into play as much because you feel you were understood and received real value from the transaction. I’ll also bet you told your friends and family about it so they could enjoy the experience as well. And, they would’ve probably listened because there’s a relationship between you and they trust your judgement.  

Now, imagine you are your own customer. What transactional experience would blow your socks off? What would keep you coming back again and again? By our very nature, mortgage brokers are innovators and problem-solvers. So, it wouldn’t take much to charge up our innate super-powers and deliver a mind-blowing and memorable proposition to our customers. 

In this season of interest-rate increases and house-price uncertainty, you need to elevate yourself above the competition. But, if you follow Jeff’s example, you wouldn’t even waste time worrying about your competition. You’d obsess over your customer’s experience. 

No matter what, we can always do more. 

Until next time. 

Greg Pennells 
Purple Circle Financial Services Pty Ltd 

How can we prevent “Broker Burnout”?

Man on laptop by the pool

The world has evolved into a place where the term “good service” has become an oxymoron. In almost every industry, we’ve seen previous service standards crash and burn. Life has become a frustrating maze of tail-chasing, only to end up right where you started.

Service as we used to know it has become non-existent.

That is, unless you’re arranging a loan through a mortgage broker, in which case, “good”, “great”, “amazing” and “phenomenal” are words used by consumers to precede the word “service”.

Why? We treat our customers as people — friends, even. When they call, we answer. If it’s after-hours, over the weekend, or while we’re on holiday overseas, we still answer. But… there has been a price to pay.

Recently, a rising phenomenon in our industry called “Broker Burnout” has come to light. More and more brokers are reporting themselves exhausted and burnt out on account of being unable to separate themselves from the constant demands of broking. Permanent connectivity means a broker has zero downtime, even when they’re trying to enjoy time with family or work on their physical and mental health. 

In the early days of mortgage broking, we would simply hand our pagers (for those of us who remember that far back) to a colleague when we went on holidays. When it was our colleague’s turn to take a holiday, we would gladly reciprocate the favour. It made sense and delivered a healthy quid pro quo. 

With the advancement of technology, you’d think we’d be in a better position to replicate this early “buddy up” system. In reality, we ditched this in favour of taking our phones, tablets and laptops everywhere we go, thinking how convenient and easy it will be to handle communications on the run. We absolutely love this wonderful industry called mortgage broking, but unless we pay attention to the warning signs, work can overwhelm and dominate every facet of our being. This is simply not healthy.

So, our challenge lies in finding a way to individually, or collectively, remain healthy and balanced, ensuring we enjoy long and rewarding careers as mortgage brokers. This will also deliver better results for our customers.

Purple Circle would like to establish a national forum whereby brokers and aggregators work together to create a paradigm shift in order to nail #brokermentalhealth. We’re spit-balling here as we try to start the ball rolling, but one solution could be for aggregators to create a “Broker Buddy” system within their organisations. The idea is to recreate a present-day version of what we used to do with our pagers. We have so many smart and creative people within our industry, surely it won’t take long to come up with viable solutions for everyone.

Of course, the “Broker Burnout” phenomenon doesn’t apply to everyone, but COVID and otherworldy-forces have left many feeling isolated and without support. Maybe we can fix this, one broker at a time…

Until next time, 

Greg Pennells

Managing Director, Purple Circle

Mortgage brokers, are you a sheep? Or a salmon?

Man looking at a field of sheep

Did you know mortgage brokers are experiencing higher anxiety levels than ever before? Sadly, with many brokers caught in complex aggregator takeovers and bank/institution buying, then selling, then not selling aggregation businesses, it’s no surprise…

When you discover you’re suddenly part of a massive amalgamated aggregation group, it’s easy to become lost in the crowd. Despite being a part of a large aggregator, you’re more isolated than ever! Often, amalgamations like this happen without brokers even knowing about it until the deed is done.

 

Consider this: Were you asked to vote? Were you consulted? Did you have a chance to raise your voice?

Plenty of single-operator brokers are chewed up and spat back out of these burgeoning beasts. Between institutional owners and powerful shareholders, genuine broker-centric aggregation models have become a rare breed. We’ve even seen some brokers being asked to leave these groups, simply because they don’t satisfy new aggregator “volume requirements”.

 

So, how does the sheep vs salmon argument fit in here?

The sheep mentality is this: join the masses, follow the crowd, fully conform and lose your voice as well as your individuality. You bend to the will of your shepherd, often without even realising it.

The salmon mentality is this: swim upstream, fight the good fight, demand to be heard, then spawn, reproduce, and grow! You’re empowered to go your own direction if you want to, but welcome to follow along when it suits you.  


Stop baaing, start swimming. 

Be the best salmon you can be with Purple Circle.

Independent and broker-owned (shares are earned by brokers), Purple Circle thrives with a culture of mutuality and cooperation. Important company decisions are put to brokers, and each one is empowered to vote and make a difference.

We throw handy resources your way, provide training, share game-changing advice and practical support, and heaps more. Plus, we have an exclusive network of like-minded brokers ready to shake hands and swap industry secrets. Purple Circle is ready to help salmons swim upstream faster than ever.


Ready to swim into the Circle?

If you would like to know more about becoming a member, contact the team.

Don’t keep your head in the sand any longer… by staying with your aggregator.

business man with head in sand

If your aggregator treats you with indifference, now is the time to consider switching to one of Australia’s best challenger groups – Purple Circle Financial Services.

Here are 12 good reasons to ‘pull your head out of the sand’ and join Purple Circle…

  • Shares: Become a shareholder just by writing loans.
  • Commission options: 3 flexible options to choose from – Flat Fee, Percentage Split or Hybrid.
  • Broker ownership: The company is owned by its members and founders, all with a common purpose.
  • Broker Buddies: Being a broker can be a very isolating and lonely experience. ‘Broker Buddies’ in every state make sure you always have someone to talk to who understands your world.
  • Broker culture: Enjoy a broker-centric culture.
  • Market-leading technology: Salestrekker helps our brokers gain a clear competitive advantage by reducing workloads and streamlining workflows. ‘THE’ smart brokers’ platform of choice.
  • Compliance made easy: We recognise compliance should be a business enabler, not inhibitor. Salestrekker’s capabilities make compliance super-easy.
  • Diverse lending panel: 61 lenders! We don’t want any broker to miss out on niche loan opportunities for their clients.
  • Award-winning: 2020 Boutique aggregator of the year and multiple other finalist categories.
  • Marketing automation: Generate new business and keep clients.
  • No lock-in contracts: We back ourselves to deliver the best outcome for you. If you’re not happy, we won’t hold you against your will.
  • We’re good, so just join us! Always referred to as ‘the good guys’ because of our unrivalled integrity and ethics – we are serious about your success.

Become part of a Broker Community like no other…

Contact us now!