Why Mortgage Brokers Remain Indispensable Despite the Rise of AI

Broker Value Proposition Holds Strong Despite Growing AI Use

Recent research confirms that mortgage brokers continue to hold a significant edge over AI tools when it comes to helping consumers with mortgage decisions. According to a Consumer Pulse survey by Agile Market Intelligence, only 6% of borrowers rely on AI to research and compare mortgage products.

Meanwhile, brokers remain the preferred choice for nearly a third (32%) of respondents. Another 28% prefer to deal directly with lenders, and 21% opt to handle the process themselves using comparison websites and search engines.

Trust and Expertise Drive Consumer Choice

Michael Johnson, director of Agile Market Intelligence, highlights that this preference for brokers reflects consumers’ desire for independent expertise and choice during major financial decisions. The hesitation to depend on AI stems less from doubts about technology and more from a lack of trust in delegating high-stakes decisions to automated systems.

Consumers want human accountability, the ability to ask questions, negotiate terms, and receive advice that considers their unique financial situation. Many borrowers view their broker as a trusted adviser rather than just a loan processor.

Expanding Role of Brokers Beyond Loan Facilitation

In a recent discussion on Business Accelerator, co-host Jason Back noted that clients now seek more comprehensive financial guidance. They're interested in how mortgage decisions fit within their broader financial lifestyle — including asset finance, commercial loans, and SMSF strategies, especially concerning retirement planning.

This trend signals a shift from brokers simply arranging loans to providing holistic financial advice. Clients want insight into their full financial picture, from mortgages and car loans to investments and even recurring expenses that affect borrowing capacity.

AI as a Complement, Not a Replacement

While AI tools are increasingly used by both brokers and borrowers to improve efficiency, the demand for expert advice remains firmly in human hands. The complexity and personal nature of mortgage decisions require a level of trust and nuance that AI cannot fully replicate.

For finance professionals looking to integrate AI effectively without losing the human touch, understanding these dynamics is crucial. Leveraging AI for administrative tasks and data analysis can free up brokers to focus on delivering personalized, value-added services.

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