!(http://www.goodreturns.co.nz/market/Mike.jpg) Customer service: two much-abused words these days, but that's what Mike Pero Mortgages says it's all about.
Certainly, the company must be doing something right: 43 per cent of their business comes from customer recommendations to family and friends.
Mike Pero established his mortgage broking firm in Christchurch nine years ago, after applying for a mortgage himself and being unhappy with the service. Today, the company has 26 separate franchises and deals with some $70 million worth of home loans each month.
Mike Pero was one of the founding members of the New Zealand Mortgage Brokers Association (see earlier story)and his own firm is the only such business to be ISO quality-approved in Australasia.
However, the company's marketing manager Steve Seal says that standards within the mortgage broking industry are still a real concern.
"We believe that there are too many people calling themselves mortgage brokers when that's not really what they're about. They're trying to move into other areas of the customer's business such as financial planning, insurance and so on.
"We specialise in mortgage broking, so that all we're doing is acting as the customer's representatives. We're not trying to put other products in front of them."
The formation of the Mortgage Brokers Association nearly two years ago has had some effect in sorting out the industry, and members of the association must have mortgage broking as their primary occupation.
"But while people can now deal with a professional organisation, we'd still like to see more of a specialist training programme available," Steve says.
"Our staff still have to 'borrow' their qualifications from other disciplines."
Steve says that people working in the industry need to be excellent communicators, skilled businesspeople who appreciate the impact of what they're communicating and people with some understanding or background in the financial area.
He says it all comes back to that customer focus.
"What we're there for is to deliver accurate, reliable information to customers on which to base their mortgage decision.
"While some bank branches will sharpen the pencil once they know a broker is involved, that's not always the case and it doesn't always end up being the best package for our client.
"Because we deal with large numbers, to the banks we're a valued customer. And it works both ways, because brokers are a cheap way for them to source business, and we're also delivering a 'cleaner' customer to the bank."
He says that brokers traditionally weren't popular with the banks," but we're a commercial reality."
"Brokers are here to stay, and we're doing a job for their customers."
