Building a Bond Gallery

Building a Bond Gallery

Private Property South Africa

National mortgage origination group Bond Choice will broaden its brand with the launch of Bond Gallery, a franchising concept that specifically recognises the return of and growth in new aggregators within the home loan industry. During the property boom, Bond Choice as one of the country’s leading mortgage originators, secured up to 45% of its business from aggregators. However, last year’s world economic crisis saw the business written by these smaller, independent players drop to only 20%, as many either closed their doors or simply saw their incomes implode in a market where houses were not trading. Bond Choice CEO Richard Gray says the current property market rejuvenation has seen the aggregator-driven income rise to nearly 30% of the group’s business and there has been a significant growth in interest expressed by operational and potential home loan aggregators. “Despite many getting burnt when the market collapsed and their commissions were not paid, there are a vast number of smaller players who want to operate entrepreneurially in the industry, but also want that sense of security,” he says. The Bond Gallery concept offers aggregators a franchise opportunity within the broader Bond Choice stable while enabling franchisees to retain their entrepreneurial flair by owning their own business. Bond Choice operates as the partner from which the franchisee capitalises on its experience. Embodied in the Bond Gallery philosophy is the aim to develop and present franchisees with a sustainable business opportunity while ensuring the key elements of well-developed systems, sound business knowledge and excellent people skills are in place. Bond Gallery will be underpinned by the values of a passion for all aspects of the business; creditability within the market and in the eyes of franchisees and a commitment to both franchisees and customers. Gray says Bond Gallery franchisees have access to the Bond Choice business plans, systems and infrastructures such that they can achieve both success and profitable results. Given that Bond Choice already has a solid business infrastructure, franchisees become part of “a bigger picture” when dealing with the banks. The systems and processes that are integral to Bond Choice will ensure that the banks receive high quality applications from Bond Gallery franchisees. This would escalate crucial deals and ensure timeous feedback on the progress of bond applications. Franchisees would also benefit from the collective buying power that is part-and-parcel of a large business group, while having access to the marketing support and guidance as well as the design of franchise-specific elements. There is also the benefit of association with a national brand-building initiative. Gray says franchisees would be able to stay on the pulse of every deal and focus on what they do best – specifically, selling – as Bond Choice offers its agents and Bond Gallery access to the outstanding information technology (IT) systems and the best commission structures in the industry. The group has instituted a specifically-designed swift payment system that negates the guesswork on when commission would be paid. QuickComm is a specialised IT information technology system developed in-house that eliminates the paperwork for estates agents. The self-invoicing system automatically pays out agents’ commissions within two days of Bond Choice receiving notification of the bond registration. Bond Gallery franchisees would be able to load and pay agents’ commission via this system, adding substantial value to their agents as the system ensures commissions are paid timeously. “Through the well-developed range of financial services, franchisees will not only be able to offer clients a solution to suit their every financial need, but also have access to additional revenue streams via these products,” Gray says. Franchisees would also have access to the value-added Bond Choice products including home owners’ comprehensive insurance, bond insurance, bridging finance, personal loans, debt rehabilitation services and international property investments in association with OzInvest. For more information please contact Danie Hanekom (021 915 6063) Western Cape, Albert Le Roux (011 875 5600) Inland, Riaan Du Toit (031 2425876) KZN or your local Bond Choice Manager.


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