Mortgage brokers Taranaki play a vital role in The New Zealand economy, as they are responsible for around 40% of all the new mortgages written each year. Mortgages and the housing market are the lifeblood of the New Zealand economy whether we like it or not, and major political decisions are made around the fact that the property market must continue to increase virtually at all costs to protect the investments all the home owners and landlords.
There are probably around 200 mortgage broking companies in New Zealand, ranging from small independent one person companies to large companies employing mortgage brokers from all over the country. While mortgage brokers are vital for all sectors of the New Zealand property market, and for that matter other sectors requiring mortgages such as agriculture, fishing, forestry etc, the vast bulk of the mortgage broking community is focused on the residential housing market. While there is a continuum all of the types of operations carried out by the mortgage broking sector, most mortgage brokers fall in one of two groups.
The first group is comprised largely of small independent operators, and this group tends to operate in a traditional manner in that they find new business through referrals from previous clients and real estate agents and developers, and also through repeat business from previous clients. They can be servicing the investor market, which can be very lucrative because of the higher frequency of repeat business, and they can be serving the residential homeowners market. They will generally be focusing on providing excellent service, simply because high quality referrals and repeat business is their life blood. Experienced brokers with very good networks can flourish in this environment, but it is generally hard work but also very satisfying.
The second group is comprised largely of a small group large mortgage broking companies, and they tend to operate Nationwide or at least region-wide and are very heavily focused on winning business over the Internet. The handful of companies that are succeeding in this market have managed to get their Internet search rankings up to number one or two or three on the Google page one, and they are savvy enough to realise that any investment they make in their website and in driving their rankings will be massively rewarded by the sheer volume of new business that will be showered on them. To put it bluntly, any company that does not appear on page one of a Google search is going to be sharing only about 5% of the total business on offer with every other company that does not appear on page 1. The small group of companies that are ranking 1 2 and 3 on page 1 are between them going to be sharing around 60-70% of all new business arriving over the Internet.
In 2017 this new business is truly massive, and in any one month around 10,000 Google searches are made for mortgage brokers in Wanganui. This is indeed the new Marketplace and it is growing exponentially as more and more New Zealanders are completely comfortable with doing all their searching and dealing over the Internet.