Harrow & Co director Jayden Brown is near his objective of writing $100 million in loans a yr and a half into beginning his personal mortgage broking enterprise – and now he has his sights set on larger issues.
Having began up in Sydney’s Sutherland Shire in 2021, the brokerage has doubled its mortgage ebook over the past six months, throughout a interval of rate of interest uncertainty and diminished borrowing capability.
This included writing $16 million in February 2023, effectively over Brown’s $10 million a month goal.
Brown mentioned the enterprise’ sharp progress trajectory after launch resulted in him using his first worker final month, and he has plans to placed on one other particular person on the finish of this calendar yr.
Brown can also be contemplating shopping for a industrial workplace house to accommodate his flourishing enterprise.
“Proper now, I’m actually constructing a platform for one thing that can develop to be even larger and higher sooner or later,” Brown mentioned. “That features bringing the fitting folks into the enterprise to assist me.”
Rising a brand new enterprise in an unsure market
Brown is an advocate of the constructive potential of the present property market and the alternatives that do exist for shoppers, fairly than specializing in the negatives that dominate the media.
“There’s reality within the saying, ‘be fearful when different persons are grasping, and grasping when others are fearful’,” he mentioned. “Down markets are sometimes the time to take benefits of the alternatives.”
Brown mentioned clients in his space typically got here with stronger monetary positions, however he was additionally servicing clients in different areas and serving to native clients with outbound property funding offers.
“Individuals are searching for funding alternatives, and we’ve had folks shopping for in Perth and Queensland of late as a result of the yields are increased and there are alternatives there.”
Brown mentioned selecting employees to assist win and repair these shoppers for him got here all the way down to character.
“You want a very good picture, however it comes all the way down to should you can relate to folks. If you happen to can create that immediate long-lasting relationship folks will wish to work with you not simply at present however tomorrow.
“If shoppers go away a dealer, it’s normally as a result of the connection isn’t binding. If that relationship is powerful – in the event that they perceive and know one another – they’re unlikely to make use of one other dealer.”
Brown mentioned he was very centered on buyer retention and shopper service, with the understanding that the shoppers he serviced effectively now would lead to many extra shopper introductions down the road.
Maximising workforce success will imply enterprise success
Harrow & Co’s preliminary success has been about doing the “proper little issues” day by day, Brown mentioned.
“While you’re doing the fitting little issues each single day you’re constructing the larger image. It takes greater than only one or two pages to write down a ebook – if I do the fitting little issues day by day for eight hours – or extra like 10 to 12 hours – then each single day that ebook is being written.”
Brown mentioned it was primarily about shopper service and relationships, together with reaching out to prospects and previous shoppers to efficiently generate each new enterprise and referral leads.
“I’ve a robust rapport with present shoppers and I’m getting loads of referrals type present shoppers,” he mentioned.
Brown has additionally constructed various sturdy referral relationships – which he prefers to name friendships.
“Folks all the time like to make use of the phrases ‘referral companion’, however I choose to consider them as friendships. They’re friendships between two individuals who have constructed relationships with one another that wish to assist one another, and that need one of the best for one another.”
As soon as he hits his objective of writing $100 million in a yr, Brown mentioned his subsequent objective could be for certainly one of his workforce members to comply with in his footsteps and write $100m in a yr as effectively.
“On the finish of the day if I’m doing effectively and they’re doing effectively, then the entire firm is doing effectively,” Brown mentioned. “If you happen to consolidate everybody’s onerous work, I believe that units up a recipe for achievement.”
