What Is Sherlok? Mortgage Broker Software Explained
In a world where clients expect speed, accuracy, and personalised service, mortgage brokers can’t afford to rely solely on spreadsheets and dated CRM systems. Tech-enabled solutions are no longer a luxury, they’re essential. That’s where Sherlok comes in.
If you’re a broker looking for smarter ways to retain clients, identify refinance opportunities, and boost revenue, Sherlok mortgage broker software might just be the tool you didn’t know you needed. Let’s explore what this platform offers, how it works, and whether it’s a good fit for your business.
What Is Sherlok?
Sherlok is an AI-powered platform designed to help mortgage brokers retain clients and unlock refinancing opportunities. It acts as an automation layer between your CRM and your clients, alerting you (and sometimes your clients) when there’s a better deal available.
Think of Sherlok software as a refinancing assistant, lead retention tool, and rate monitoring system rolled into one sleek platform.
Created specifically for the Australian market, Sherlok mortgage broker software helps brokers protect their trail book, reduce client churn, and grow loan volumes through smart automation and actionable insights.
Why Was Sherlok Built?
Mortgage brokers in Australia often lose clients when their loans become uncompetitive and another broker swoops in with a better rate. According to a 2025 report by the Australian Financial Review, mortgage brokers now manage a record share of home loans, signaling their growing influence in the lending market.
With brokers managing close to 77% of all new home loans, tools like Sherlok are becoming crucial for client retention and competitive refinancing. It’s not a matter of poor service, just a lack of visibility. Sherlok was designed to solve this exact problem.
With brokers increasingly relying on digital tools and even mortgage processing services outsourcing to manage rising workloads, Sherlok fills the gap by combining automation with AI-powered intelligence. Its core mission? Help brokers stay a step ahead by notifying them the moment a client can benefit from refinancing, before the client starts shopping around.
Key Features of Sherlok
Let’s break down what this app for mortgage brokers offers:
1. Automated Repricing Alerts
Sherlok tracks current rates across lenders and compares them to your clients’ loans. If a client’s rate is no longer competitive, Sherlok sends an alert, either to you, the broker, or directly to the client, depending on how you set it up.
2. Refinance Opportunity Identification
Sherlok’s AI sifts through your trail book to find clients eligible or ready to refinance. This turns passive income into proactive revenue by prompting refinancing at the right time.
3. Client Retention Automation
Using SMS and email automation, Sherlok can communicate with clients on your behalf, updating them, reminding them of opportunities, or nudging them to book a meeting with you.
4. Performance Dashboard
Get a full view of your book’s performance, clients at risk, refinancing potential, communication logs, and more. This isn’t just a tool; it’s a management cockpit.
5. CRM Integration
Sherlok works alongside many leading CRMs, syncing your data seamlessly and enhancing the workflow you already have in place.
How Does Sherlok Work?
The workflow is pretty simple, but powerful:
- Connect Your CRM – Sherlok pulls in your client loan data.
- Track and Compare Rates – It constantly monitors lender rates and compares them with your clients’ loans.
- AI Scans for Opportunities – When a client could benefit from refinancing, Sherlok flags it.
- Automated Communication – The system can notify you or reach out to the client automatically, depending on your settings.
- Broker Follows Up – You get the chance to reconnect, refinance, and reinforce the relationship.
It’s a proactive tool in an industry that’s often reactive. Interestingly, major Australian banks are heavily investing in AI-driven lending strategies to increase loan sales as per The Australian. Platforms like Sherlok ensure mortgage brokers are not left behind, offering the same level of automation and client insights that banks are now deploying.
Benefits for Mortgage Brokers
Sherlok isn’t just another entry on the long list of mortgage broker tools, it addresses some of the most pressing pain points brokers face today. Sherlok acts almost like an outsourced mortgage expert, automating repetitive tasks such as rate monitoring and client communication, so brokers can focus on strategy and client relationships.
- Boost Client Retention
Keep clients from refinancing through competitors by identifying when their rates become uncompetitive. - Protect Your Trail Book
Maintain long-term revenue by staying connected and valuable throughout the client journey. - Save Time With Automation
Let the AI do the heavy lifting, identifying opportunities and managing follow-ups. - Win More Business
Turn refinancing into a growth engine by reaching out before others do. - Look Professional, Stay Personal
With automated communication that still feels personalised, your client relationships stay strong without consuming your time.
Sherlok Pricing
Let’s talk numbers.
While Sherlok doesn’t always publish exact pricing on its website, it operates on a tiered subscription model based on the number of active loans in your trail book. This makes it accessible to solo brokers and larger businesses alike.
Some brokers report pricing starting at around $149/month, with higher tiers offering more automation features and priority support. There may also be options for performance-based pricing, where fees scale based on refinanced volume.
The platform also frequently offers free trials or demo periods so brokers can see the value before committing.
So when people ask, “What’s the deal with Sherlok pricing?” the answer is: flexible, scalable, and geared to match the size of your business.
Real-World Use Cases
Let’s bring this to life.
- A broker in Sydney set up Sherlok and within three months retained five clients who were about to refinance through competitors. That’s potentially tens of thousands of dollars in trail revenue saved.
- Another broker used Sherlok’s automation to send monthly refinance updates to clients, generating an additional $1.5M in loan volume in one quarter, without a single cold call.
These examples show that with minimal effort, Sherlok can create meaningful results. Sherlok’s growth story reinforces its value proposition. In 2023, the platform secured $3.4 million in funding, with a reported 700% year-on-year growth, highlighting its rapid adoption among Australian brokers as per Startup Daily.
Sherlok vs Other Mortgage Broker Software in Australia
There’s no shortage of mortgage broker software Australia offers, CRM systems, document collection platforms, lender comparison tools, but Sherlok fills a very specific gap.
What sets it apart?
- It’s not just a CRM – It doesn’t replace your existing system; it enhances it.
- It focuses on refinancing & retention, two areas often overlooked by traditional tools.
- It’s driven by AI and automation, reducing manual admin and giving brokers leverage.
Other tools like BrokerEngine or MyCRM are great for pipeline management, but Sherlok is where you go to protect and grow your existing book.
If you’re searching for a Sherlock broker alternative, chances are you’re really looking for Sherlok.
Is Sherlok Right for You?
Sherlok is ideal for:
- Brokers with an existing loan book who want to protect their trail
- Those who often get blindsided by lost clients
- Anyone looking to work smarter, not harder
- Brokers who believe tech can help them deliver better outcomes
If you’re just starting out, it might be more useful once you have a few dozen active loans. But if you’ve built a book and want to safeguard it, Sherlok mortgage broker software is absolutely worth considering.
Final Thoughts
In the fast-evolving world of broking, relying on instinct alone won’t cut it. Clients are smarter, competition is tougher, and margins are tighter.
By adding Sherlok to your toolkit, you’re not just adopting another piece of software, you’re building a smarter, more proactive business model. One where you don’t just respond to changes, but anticipate them.
Whether you manage a large loan book or handle outsourced mortgage loan portfolios, Sherlok’s proactive notifications and repricing tools help you maintain client loyalty.
About Aneri Shah
Aneri Shah is the Director at Brokers Support Global (BSG), where she leads operations focusing on back-office support for Australian mortgage brokers. With over 4+ years of experience, Aneri specialises in loan processing, mortgage packaging, serviceability calculations, and post-settlement services.
