Real wins come with real challenges
Up to 80% of Australian home loans will originate through the broker channel by the end of 2025, Loan Market’s chief executive David McQueen (pictured) told audiences at sister aggregator LMG’s Top 100 Business Owners Summit in Sydney on Tuesday.
Far from an ambitious estimate, it perfectly encapsulates the interminable rise of the third-party channel, through which 74.6% of all new residential home loan settlements were made as of September 2024.
McQueen’s prediction also echoed forecasts made in LMG’s ‘2025 Trends to Watch’ whitepaper published last December, when the aggregator declared that a “major shake-up in financial services is underway”.
But while LMG said that these shifting, broker-centric buyer preferences are “delivering real wins for consumers and creating more opportunities for brokers”, McQueen told summit attendees that there are some clear and present challenges in this evolving mortgage landscape.
He called upon the brokerage community to resist becoming complacent as the third-party channel becomes an even greater force in mortgage origination.
McQueen, who was appointed by LMG as Loan Market’s new chief executive in October 2024, stated: “With demand for brokers surging, complacency is the biggest risk to business growth.
“More Australians are choosing brokers than ever before, but that also means more competition.”
Word-of-mouth referrals, “while valuable”, are no longer enough to sustain growth in this increasingly competitive market, warned McQueen.
“It’s not just about being a great broker; it’s about being visible, memorable, and the first choice for clients. A strong brand fosters trust, attracts new clients, and strengthens relationships with existing ones.”
Brokerages that invest in branding, marketing and customer experience will have the upper hand in cracking this increasingly saturated broker market, he suggested.
“Consumers today are more informed,” McQueen said. “They’re searching online, comparing options, and looking for brokers who project confidence and credibility. If you’re not showing up where your potential clients are looking, you’re leaving business on the table.”
Supporting brokers
McQueen also used the event to discuss how Loan Market is supporting the broker channel by investing heavily in digital marketing solutions that help brokers grow their brands.
“We give our brokers the tools to amplify their brand and make sure they’re front and centre when customers need them,” he said. “From custom-built, lead-generating websites to social media strategies and search engine optimisation, we’re ensuring our brokers don’t just compete – they lead.”
Loan Market’s brokers have also been flocking to LMG’s Brokerversity education platform, which recently celebrated an impressive milestone of facilitating more than 100,000 lessons for over 8,000 users.
McQueen also touted Loan Market’s independent ownership model, highlighting that the group is “100% family-owned and free from bank influence, which means they can offer customers real choice with no conflicts”.
