What is Joust & How Does it Help Mortgage Brokers?

Overwhelmed by the complex task of finding the perfect loan for your clients?

You’re not alone.

Joust aims to simplify this process, making it easier for mortgage brokers to connect clients with the right lenders.

But what exactly is Joust, and how does it help brokers like you?

Let’s take a closer look at how this platform can streamline your mortgage brokering experience.

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What Is Joust?

Joust is an online marketplace that connects borrowers, lenders, and brokers in the home loan sector.

It facilitates a competitive bidding process, allowing brokers and lenders to vie for a borrower’s business. This approach ensures that borrowers receive the best possible rates and loan options tailored to their needs.

The platform is built on transparency and consumer-centric principles. Borrowers can compare offers in real-time, while brokers gain access to a pool of potential clients actively seeking loans.

This creates a win-win scenario for all parties involved.

How Joust Benefits Mortgage Brokers

Competitive Bidding Environment

Joust introduces a competitive edge to the mortgage broking process.

Brokers can access a diverse pool of potential clients through the platform, each with unique borrowing needs. This competitive environment encourages brokers to tailor their offers, making them more attractive to borrowers.

By participating in this bidding process, brokers can differentiate themselves. Offering competitive rates and personalised services becomes a key strategy for standing out in a crowded market.

This not only helps brokers secure more clients but also builds their reputation for delivering value.

Tools and Features for Brokers

Joust equips brokers with innovative tools designed to enhance their efficiency and effectiveness.

Two standout features are:

  • Instant Match: This tool uses detailed profiling to match brokers with borrowers who align with their expertise and offerings. By ensuring compatibility, Instant Match increases the likelihood of successful connections.
  • Live Auction: Brokers can bid in real-time for a borrower’s business. This feature leverages comprehensive borrower profiles, enabling brokers to make informed decisions and present tailored offers.

These tools not only improve lead conversion rates but also save brokers time by focusing their efforts on high-potential clients.

Innovations in Broker-Borrower Matching

Enhanced Lead Quality

One of Joust’s key innovations is its refined broker-borrower matching model.

This system prioritises lead quality by thoroughly verifying and pre-qualifying borrowers before connecting them with brokers. This ensures that brokers are matched with clients who are ready to proceed with a loan.

By focusing on high-quality leads, Joust reduces the time brokers spend on unproductive inquiries. This allows brokers to concentrate on building relationships with serious borrowers, ultimately improving their success rates.

Real-Time Lead Transfers

Joust’s real-time lead transfer system is another game-changer.

This feature integrates with brokers’ schedules, enabling immediate communication or appointment setting with potential clients. By aligning the availability of brokers and borrowers, Joust ensures timely and effective interactions.

This real-time approach not only enhances efficiency but also reduces delays in the loan process. Brokers can respond quickly to borrower inquiries, increasing the likelihood of securing their business.

The Impact on Broker Productivity and Business Growth

Increased Efficiency

Joust’s focus on high-quality, verified leads significantly boosts broker efficiency.

By eliminating unproductive inquiries, brokers can dedicate their time to clients who are genuinely interested in securing a loan. This streamlined approach enhances productivity and client satisfaction.

The platform’s tools and features further contribute to efficiency. Instant Match and Live Auction simplify the process of connecting with borrowers, allowing brokers to focus on delivering personalised solutions.

Business Growth

The positive impact of Joust on broker businesses is evident in pilot programs conducted with major aggregators.

These trials have shown significant increases in lead volumes and broker revenue. Brokers report higher satisfaction levels, citing the platform’s ability to deliver pre-vetted, high-intention leads as a major advantage.

By improving lead quality and conversion rates, Joust helps brokers grow their businesses. The platform’s competitive environment also encourages brokers to refine their offerings, further enhancing their market appeal.

Feedback and Results from Industry Pilots

Feedback from industry pilots highlights the effectiveness of Joust’s model.

Brokers appreciate the time saved and the quality of leads provided by the platform. The pre-vetted nature of these leads ensures that brokers can focus on serious borrowers, reducing wasted effort.

The success of these pilots has reinforced Joust’s value proposition. Brokers who have participated in these trials report improved conversion rates and increased revenue, demonstrating the platform’s potential to drive business growth.

Joust’s Expansion and Future Plans

Growing Broker Network

In response to increasing demand for refinancing and new home loans, Joust is expanding its broker network.

The platform aims to connect with more brokers, providing them with access to a growing pool of potential clients.

To support this expansion, Joust is leveraging a mix of digital and traditional advertising channels. These efforts are designed to boost platform visibility and attract more leads, creating new opportunities for brokers.

Strategic Partnerships

Collaboration is a key focus for Joust as it looks to broaden its market reach.

The platform is actively working with brokers and aggregators who share its commitment to consumer satisfaction and business growth. These partnerships aim to enhance Joust’s influence in the mortgage industry.

By aligning with like-minded partners, Joust ensures that its platform continues to deliver value to both brokers and borrowers. These collaborations also help the platform stay ahead of industry trends, positioning it as a leader in the mortgage marketplace.

Future Innovations

Joust is committed to continuous improvement, with plans to introduce new features that enhance the broker and borrower experience.

Investments in technology will further refine the platform’s lead matching capabilities, ensuring even higher levels of efficiency and effectiveness.

These innovations will not only benefit brokers but also strengthen Joust’s position as a trusted partner in the mortgage industry. By staying at the forefront of technological advancements, Joust is well-positioned to meet the evolving needs of brokers and borrowers alike.

The Role of Technology in Mortgage Broking

Technology is transforming the mortgage broking industry, and platforms like Joust are at the forefront of this change.

By leveraging advanced algorithms and data analytics, Joust ensures that brokers are matched with borrowers who are most likely to benefit from their services. This not only improves the efficiency of the loan process but also enhances the overall experience for both brokers and borrowers.

Moreover, the use of technology allows brokers to access real-time insights into borrower behaviour and preferences. This data-driven approach enables brokers to tailor their services more effectively, ensuring that they meet the unique needs of each client.

As technology continues to evolve, platforms like Joust will play an increasingly important role in shaping the future of mortgage broking.

How Brokers Can Maximise Joust’s Potential

To fully benefit from Joust, brokers should take a proactive approach to using the platform.

This includes regularly updating their profiles to reflect their expertise and offerings, as well as actively participating in the bidding process. By doing so, brokers can increase their visibility and attract more high-quality leads.

Additionally, brokers should leverage the platform’s tools and features to streamline their operations. For example, using Instant Match to connect with compatible borrowers can save time and improve conversion rates.

Similarly, participating in Live Auctions allows brokers to showcase their competitive edge and secure more clients.

By adopting these strategies, brokers can maximise the potential of Joust and achieve greater success in their businesses.

Strategic Partnerships and Market Reach

Joust’s emphasis on collaboration extends to its efforts to expand its market reach.

The platform is actively working with aggregators and established brokers to deepen its impact in the mortgage industry. These partnerships ensure alignment with brokers who prioritise quality and growth.

To increase its visibility, Joust is also investing in targeted advertising campaigns. These efforts aim to attract more borrowers to the platform, creating new opportunities for brokers to connect with potential clients.

By focusing on strategic partnerships and market reach, Joust is building a robust ecosystem that benefits all stakeholders. This approach ensures that the platform remains a valuable resource for brokers looking to grow their businesses.

Conclusion

Joust is revolutionising the mortgage broking industry by providing brokers with innovative tools, high-quality leads, and a competitive environment.

By focusing on transparency, efficiency, and collaboration, the platform is helping brokers achieve greater success while delivering value to borrowers.

As Joust continues to expand and innovate, it is set to play a pivotal role in shaping the future of mortgage broking.

Track My Trail Team

The Track My Trail Team develops software to simplify trail book management for mortgage brokers. Their tools provide fast and practical insights to help brokers get the most out of their trail books.