Broker FAQs
- What is an independent mortgage broker?
- If I work for a franchise can I become a participating broker?
- Are there any joining fees and/or charges?
- Are there any management fees and/or charges?
- What fees and/or charges are there for a broker to participate and receive customers?
- How do I become a Rewards Broker?
- What services will The Rewards Team provide to brokers?
- Can I sign my already existing clients to The Rewards Team?
- Can I set myself as inactive when I am busy or away?
- Am I obligated to accept the leads provided to me?
- Can I choose where the leads come from?
- Can I speak with the client to find out their needs, or view a clients details before deciding to accept the lead?
- Am I required to do anything in order for my clients to be paid their Reward Points?
- Is the number of broker places limited?
1. What is an independent mortgage broker?
An independent mortgage broker is someone who; a) is self employed and /or manages their own business or company. b) Independent mortgage brokers are usually members of either the MFAA or the FBA and are accredited with a wide range of lenders.
2. If I work for a franchise can I become a participating broker?
No. Most franchises have an existing structure and are not able to participate with external program providers.
3. Are there any joining fees and/or charges?
No. There are no joining, and/or charges for mortgage brokers or reward customers.
4. Are there any management fees and/or charges?
No. There are no management, fees and/or charges for mortgage brokers or reward customers.
5. What fees and/or charges are there for a broker to participate and receive customers?
There is no cost to participating mortgage brokers until a referred loan has settled. Clients are referred to Mortgage Brokers who enter into a commission share agreement with The Rewards Team. This ensures that all participating brokers are in a winning position.
6. How do I become a Rewards Broker?
Please contact us via the email contact section on the web site, or phone our friendly staff on 1300 303 160. We will then have a Rewards Team representative call you to assist with your questions. .
7. What services will The Rewards Team provide to brokers?
a) The Rewards Team will provide you with quality leads and clients delivered straight to your computer. b) The Rewards Team will provide you with a web based client management system. c) The Rewards Team will provide you with an exciting and professional reward program for your clients, giving participating brokers a serious market advantage. d) The Rewards Team will provide you with full management of the reward program. e) The Rewards Team will market and promote your business on your clients Rewards Team membership page, newsletters and customer statements. This is an important feature that gives your clients regular exposure to you business. f) The Rewards Team can also provide participating brokers with additional income streams via our Telconet Rewards program. Please contact us for further information. e) The Rewards Team will promote independent brokers and will provide participating brokers with a valuable marketing platform.
8. Can I sign my already existing clients to The Rewards Team?
Yes. However you would need to complete a commission share agreement with The Rewards Team for any existing clients.
9. Can I set myself as inactive when I am busy or away?
Yes. Simply log into The Rewards Team website. You can control the amount of time you wish to be inactive in the management area.
10. Am I obligated to accept the leads provided to me?
No. There is no commitment required from Participating brokers to accept leads. Simply access the leads when you require more clients.
11. Can I choose where the leads come from?
The Rewards Team gives you the option of selecting the post code you wish to receive customers from, and the ability to control the KM radius of your catchment area.
12. Can I speak with the client to find out their needs, or view a clients details before deciding to accept the lead?
No. You can only gain access to the clients information once you have chosen to accept the lead. The Clients information is considered confidential and can only be access by the accepting broker.
13. Am I required to do anything in order for my clients to be paid their Reward Points?
There is no work or input required from participating brokers. Once you have informed us that the loan has settled there is nothing more you need to do. The Rewards Team will manage the whole reward program from point allocation to delivery of reward purchases.
14. Is the number of broker places limited?
Yes. The available places for brokers will cap out at the discretion of The Rewards Team.