This year's top broker set a new record, writing over $359m in residential loans over 12 months
Justin Doobov, of Intelligent Finance, has topped MPA's Top 100 Brokers Report and set a new record.
Sydney-based Doobov wrote 593 residential loans totaling $359,727,552 over the 2016-17 financial year. In doing so he broke the record for an individual broker, previously held by 2016 winner Mark Davis of The Australian Lending & Investment Centre.
Doobov, who has won several Australian Mortgage Awards during his career, told MPA that he had changed relatively little in the business. “We’re not trying to be big one day and gone the next; it’s all about consistency.”
Other factors in the win include Sydney's high average house prices and Doobov's highly trained and structured support staff.
"Every deal is harder"
Regulatory and lender changes made this year particularly difficult, Doobov told MPA.
“Yesterday I spent six hours fighting with one of the banks and four hours the day before to overturn their decision; they said they wouldn’t do the deal and in my eyes it was a low-risk deal.”
Although Doobov managed to improve his numbers, overall the combined lending by Top 100 Brokers fell below $10bn, for the first time since 2014, despite rising house prices.
Doobov says his support team helps him deal with lender changes: “a lot of the fighting and chasing of applications is done by my team. When it gets into a big fight, where [the bank] not seeing it, I get involved in getting it across the line."
As usual, the top places in MPA's Top 100 were filled by exceptionally high-performing brokers.
In second place was Mark Davis, of the Australian Lending & Investment Centre (ALIC). Davis topped last year's Top 100 - winning an AMA in the process - but his numbers fell this year to a not-insubstantial $287m.
ALIC, which specialises in property investors, has been hit by regulatory changes but still managed to get both Davis and Kevin Agent into the top ten.
In third place was Josh Bartlett, of Loan Market Bayside. Bartlett has been gradually climbing the ranks for a number of years, with a focus on referral partners
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