LJ Hooker launches buyer’s agency

Paul O’Regan, LJ Hooker Home Loans’ head of home loans, said the new venture will benefit its brokers by giving them the “first bite of the cherry” when it comes to referrals.

“Most people will look into property first, especially when it is their second property or an investment approach,” Mr O’Regan told Mortgage Business' sister title The Adviser.

“Our buyer’s agency will become a first port of call for people and that gives us an edge.

“People will always need finance and we will have an opportunity to be speaking with them before the banks.”

Mr O’Regan said LJ Hooker Home Loans brokers have a huge number of clients for whom they have already arranged a pre-approval, even though the client has not managed to find a property.

“By referring that client to a buyer’s agent, that client will hopefully purchase a property, faster than they otherwise might have,” he said.

“They will be able to cover many more properties as part of their search, and have the confidence to know they have a specialist working on their side to ensure they buy the right property.”

Mr O’Regan said the group’s one-stop-shop mentality is not just about offering more products – it is about making it easier and more time-efficient for clients when it comes to all of their finance needs.

“The reason a client will use a mortgage broker is so that they don’t have to visit 10 different banks to find the best deal,” he said.

“These same clients are looking to save valuable time and are very open to having all their needs met from the one provider.

“For our brand, there is a natural link to property and home loans – it’s very easy for the customer to understand our linking of the two services, through real estate and mortgage professionals.”

High demand from overseas investors was the catalyst for the development of the Sydney-based buyer’s agency, according to its director, Kiril Ruvinsky.

“It’s quite simple: our buyers can get access to LJ Hooker properties before they’ve even come onto the market, but we don’t exclusively buy LJ Hooker properties,” Mr Ruvinsky said.

“We will be searching high and low to get the right property for the investor, no matter what brand it is selling under.”