Getting a warm lead is a challenge at the best of times no matter what space you are playing in – and when according to the RBA, housing finance grew at less than 0.5% in March, the task of finding new clients becomes an even harder mountain to climb. White Collar Quotes, a Sydney based start-up, has developed a platform that will keep Mortgage Brokers in front of clients all year round.
“White Collar Quotes allows mortgage brokers to select the type and location of leads they would like to receive. The filtering criteria gets quite detailed, with brokers able to select their targets based on type of loan and estimated property price, deposit level and existing debt levels. The business is intended to give Mortgage Brokers access to the exact type of client they want with no capital or time investment” said Josh Golombick, one of the cofounders. [pictured]
Cofounder Greg Einfeld, developed the idea through the frustrations he had finding clients for his existing business Lime Super, which specialises in Self Managed Super Funds. “One of the biggest hurdles I constantly face with Lime is marketing the firm and finding good leads. I don’t have the budget for tv, doubt the efficacy of print and the idea of cold calling makes me nauseous. I know there is a whole pool of potential clients shopping online but getting there felt beyond my capabilities” Einfeld said. He turned this client acquisition journey into an opportunity and, with the assistance of Josh, White Collar Quotes was born.
Last year, the term “Home Loans” was typed into search engines over 3,000,000 times across Australia. “Despite the clear advantages mortgage brokers offer consumers, they do not generate enough warm leads due to the massive online presence of the big four” said Golombick. “Our service evens the playing field, getting mortgage brokers where they should be – in front of clients” he said.
When I asked Josh about next steps and scalability of the business, he said that they were starting off focusing on targeting the financial services market first, after that they would be expanding to other professional services. What I really like about what these guys are doing is they are putting a real focus on quality for both the customer searching and the professional delivering – the approach to focus on driving quality leads means that consumers are receiving quality well thought out quotes and pricing for what will be a long term relationship from the providers.