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The consumer shift to the online economy will diminish the strength of the traditional referrer, one industry stakeholder has claimed.
So much so that in the future brokers will need to find a way to partner with an online expert to generate a sustainable new business pipeline, according to moneyQuest joint MD Gill McLean.
"A local web developer who can only develop a static page website will not have the expertise anymore to provide any meaningful penetration online," Ms McLean told the MortgageMix.
A study released this week by Boston Consulting Group predicts that the value of the Internet economy in the world's top 20 economies will reach $4.2 trillion in 2016 - nearly double 2010's number.
About this consumer shift to the online economy, Ms McLean said potential buyers are now more 'buy-ready' than in the past by the time they engage with mortgage brokers for the first time.
"By the time consumers meet with a broker they might have already spent between six and eight weeks online doing research," she said.
"They will already have a good idea of what they are looking for, and in some cases have even chosen a lender online."
Targeting experienced brokers, moneyQuest has been in the news recently with the launch of its new model in Sydney, Melbourne and Perth.
Online shift will dent broker opportunities: moneyQuest - With the online shift in consumer buying behaviour many brokers are missing opportunities to write more business, according to moneyQuest joint CEO Gill McLean.
'DIY' borrowers in for online surprise, says aggregator boss - Confusion often reigns when online borrowers compare too many lenders' products and features, aggregator National Mortgage Brokers has claimed.
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