Choosing the right aggregator is key to building a valuable mortgage business

In Short:
– Selecting an aggregator is crucial for mortgage brokers, requiring thorough due diligence for long-term career impact.
– Modern aggregators should prioritize shared success and provide technology solutions to enhance efficiency and diversify revenue streams.

Choosing the right aggregator is a foundational decision for mortgage brokers, according to Them Lam, Chief Distribution & Marketing Officer at AFG, who discussed the importance of selecting a partner that can support long-term growth and build genuine business value on Broker Business with Rex Afrasiabi.

Rather than focusing solely on processing loans and increasing settlement volumes, brokers should aim to build independent businesses with systems, people and processes that reduce reliance on the founder.

This makes due diligence critical.

Brokers should look beyond commission structures and assess whether an aggregator has a proven track record of helping partners build profitable, sustainable businesses.

Profitability should also remain a priority, with brokers encouraged to focus on costs, margins and profit and loss rather than simply chasing top-line revenue.

Technology can improve customer experience and operational efficiency, while post-settlement services such as digital conveyancing, health insurance referrals and utilities can create additional revenue streams.

As brokerages grow, compliance and education become increasingly important.

Proactive training, e-learning and leadership resources can help brokers identify issues early and develop the skills needed to recruit and manage teams.

For prospective brokers, the message is clear: demand evidence.

Case studies, proof points and examples of successful businesses can help determine whether an aggregator is genuinely equipped to support the development of an enterprise-level brokerage.