Younger brokers could clean up

With networks seeing increasing numbers of younger brokers coming through the ranks Penn said the iPad generation would find it easier to relate with more technology based sales processes.

He said: “Networks are seeing an increase in younger brokers entering the industry.

“All of these brokers want to be able to go through the process using the latest technology. They don’t want to be taking a laptop or paperwork around with them and many work off iPad’s.

“These guys want the latest technology and the latest software. This sits well with the client.

“If you look at the average first-time buyer they are aged between 28 and 40. They expect their broker to have the latest technology.”

But Penn said that technology would not diminish the need for face-to-face interaction.

“Face-to-face interaction with a client remains important for brokers. Whilst we have seen some brokers try to set up online only services it’s unlikely the market will go that way.

“Having access to the client is important for the broker and good for the customer. With MMR this interaction will be even more important due to the need to know your client.”

MMR will be implemented later this month.