Case Study
Finance Brokers Association of Australia (FBAA)—Reinforcing Broker Value in Australian Lending
The Consumer Access to Mortgages 2023 report, conducted in partnership with FBAA, highlighted brokers' essential role in supporting Australian borrowers. To achieve this, the report reinforced brokers’ trusted relationships with consumers, the growth opportunity in attracting first-time borrowers, and how brokers navigate complex financial environments to deliver the best outcomes for their clients.
The challenge
Together, Agile Market Intelligence and FBAA needed to:
- Demonstrate how brokers provide better guidance and help borrowers make informed decisions.
- Highlight trust and loyalty as key differentiators for brokers.
- Emphasise brokers' ability to help Australians during economic challenges, such as rising interest rates and the cost-of-living crisis.
The solution
Agile conducted thorough research into consumer sentiment and understanding of brokers and mortgages in Australia.
The research showed:
- 83% of mortgage broker clients would use a broker for their next mortgage.
- Only 44% of first-time borrowers plan to use a broker, showing room for growth in education and awareness.
- 38% of mortgage holders are experiencing stress, demonstrating the critical role brokers play in refinancing and financial guidance
Results
With these insights, Agile produced a whitepaper report that FBAA could publish on their website and share with their audiences to build on the relationships between consumers and brokers.
The report promoted brokers' benefits in Australia, strengthened their messaging as trusted partners for borrowers, and identified areas for growth, especially with first-time buyers and property investors.
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