Welcome to a brand-new year and a brand new quarter, with limitless possibilities for everyone and the chance to make a real difference to your life and the life of everyone around you… as my brother’s life coach would say.
Back here on earth, however, the first thing that springs at one from the figures is the small but positive change from last year’s total at this time of year. Normally, or at least for the last few years, we have seen a slight downturn in AR numbers at the start of the year, possibly as a result of people who are retiring from the business choosing to do so at the end of the year, combined with the usual Christmas/New Year holiday lethargy.
If you have ever wondered, the figures in the table are produced by taking a networks AR total from the last quarter and comparing it to this quarter, giving either a positive or negative recruitment total for the quarter. This effectively provides the difference between the number recruited and the number who have left. The system is simple and accurate, but in certain scenarios the raw information can be misleading if you do not consider context. For example, most AR firms leaving a network will have been there more than three years, so a network that has been in business for 20 years is much more likely to lose a number of ARs than a new network whose AR firms have only been with them for a couple of years.
If we look at Intrinsic, for example, they actually recruited 37 AR firms in the quarter, but leavers meant their total AR count only went up by 11. However, the much newer Right Mortgage Network increased their AR total by 10 off an additional recruitment total of 16 firms as less AR firms left.
None of this of course in itself means either of these networks are any better or worse than the other, it is just one of the statistical anomalies that Which Network have to consider when evaluating the information. I will not bore you with explanations of all the other factors such as marketing spend, number of recruiters, internet presence, brand awareness, target businesses etc., but I am sure you get the idea.
Back to the top of the table: There were certainly no big changes this quarter. To avoid confusion, we will look at the positions numerically and then in percentile terms. Numerically, Tenet is in first place, with 20 additional AR firms, followed by Intrinsic with 11 and Stonebridge and The Right Mortgage in joint third, adding 10 new firms apiece. In percentile terms The Right Mortgage are tops with 4.90 per cent growth in their AR numbers, followed by Tenet at 3.47 per cent growth and Stonebridge in third place with 3.38 per cent.
Moving to the bottom of the table, numerically the worst performance of the quarter with an overall loss of 6 ARs in the quarter is The Mortgage Support Network, second bottom goes to Openwork with five fewer AR firms, and joint third bottom is The Online Partnership and Julian Harris, with a reduction of three AR firms. Looking at the table bottom in percentile terms we again get Mortgage Support Network, which is 7.69 per cent down in AR numbers at the bottom, then Julian Harris, down 4.62 per cent in AR numbers. Finally, The Online Partnership AR base fell by 1.39 per cent.
This concludes our look at the winners and losers for this quarter but, as always, please do remember there is much more to network selection than raw statistics – and do be sure to take professional advice if your business could benefit from a new home.
|Network Performance Figures For The 1st Qtr 2019|
|Network Name||Total 4th Qtr 2018||Total 1st Qtr 2019||Numerical Difference||% Change|
|Stonebridge Mortgage Solutions||296||306||10||3.38|
|The Right Mortgage||204||214||10||4.90|
|Mortgage Advice Bureau||188||191||3||1.60|
|Mortgage Intelligence and Next||177||176||-1||-0.56|
|Mortgage Support Network||78||72||-6||-7.69|