"I couldn't believe it. Not only were they able close the large commercial refinance, my client was stoked with the service, and they called me after settlement to advise they had identified a new opportunity in a related entity and that I would be credited as the referrer."
For years the finance industry has survived on referrals. Bankers have been trained on how to identify potential referral partners and brokers have thrived on the opportunity to ask happy customers to refer them on to people in their network.
Marketplace Finance takes the traditional referral even further.
"Our aim is not only to deliver on the opportunity in front of us, but to do such a great job that we are privileged with the chance to look at other things happening in the group" says MD JP Gortan.
In a recent example the Sales Team at Marketplace Finance completed a large 3 property commercial refinance for a client based in Western Sydney.
"It was a perfect bank deal. The client was a large trading business, with transactional, working capital and property debt needs. They were unhappy with the service levels from their incumbent and needed someone to match them up with a competitive trading bank."
"The banks jumped at it, and we were able to put a very compelling offer on the table. We were able to take 50 points off their current price with ANZ, provide a large Asset Finance facility to allow them to invest in the business for the next 2 years and were able to solve a complex transactional problem they were having."
The real magic in the transaction though was what the sales team uncovered during the application.
"Our client was quite entrepreneurial. From analysing the Director searches and with some honest discussions, we were able to identify an opportunity to support the client's side business in Queensland. It's a large recycling plant and the Director was about to spend over $2Mil in cash to invest in a state of the art sorting and cleaning machine."
"He didn't think a bank would be interested because it was too complex."
"With the right conversation, some strong analysis and working with the customer to present the data in the right way, we were able to get them further funding from a Big 4 bank" noted Gortan.
Sales coaches often say the best compliment you can get is a referral. The team at Marketplace Finance takes that a step further.
"We love rewarding our referrers with additional business. It's the sign of a true relationship."
The Sales Team is focussed not only on the transaction at hand, but also at identifying other opportunities in the group. Where they identify a home loan they make sure the referrer is a aware. Where they pick up on another commercial opportunity they extend their referral offering to the next opportunity in the group.
"It's not about making the most out of one transaction and moving on. It's about making sure that our client's are happy so we can have them for life.".