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Broker course

Discussion in 'Property Finance' started by MissP, 25th Apr, 2016.

  1. MissP

    MissP Member

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    hello,

    Not sure if this is in the right in the forum.
    I am interested in becoming a mortgage broker.
    Does anyone have recommendations what courses I require to complete?

    Can you let me know what the duration of the course is and cost?

    Is there a fastrack course? Cost/durations?

    Am looking at a career change.. Not currently working in the property field.

    Thanks
     
  2. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

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    Just go for the cheapest you can find. It can be completed in a day online. I did mine at AAMC from memory.
     
  3. beachgurl

    beachgurl Well-Known Member

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    Doing the course is the easy bit. You then need to find a mentor for 2 years before you can go out on your own
     
  4. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    I prefer my peops to do the face to face and ideally do Cert 4 and the diploma at the same time.

    While Most aggregators and associations allow a12mth window, my mentors teach that expectancy of making a big success of broking rather than "dream big start small" works.

    ta
    rolf
     
  5. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

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    Welcome aboard, @MissP. You're in for an exciting, challenging change :)

    I’d recommend doing the Cert IV and Diploma face-to-face. You can do them over 5 days (full time), then you’ll be left with some assignments to complete in your own time. Will cost a couple of grand.

    I did mine a Walker & Miller in North Sydney.
     
  6. Angel

    Angel Well-Known Member

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    Is there a Brisbane course?
     
  7. Redwood

    Redwood Well-Known Member

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    I done mine with Kaplan - at the time I completed it - they course was pretty outdated, one of my brokers here has enrolled and the course is now updated. Good course and covers the basics.

    Cheers Ivan
     
  8. Redom

    Redom Mortgage Broker Business Member

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    Kaplan does the job, the assignments were relatively useful.

    5 day workshop sounds a bit time intensive IMO for what you get out of the actual course, most of the training is done on the job. The course provides the basic framework, legal/complaince understanding of the market. It won't really help with loan structuring, lender policy, business side of things etc - much of this is learned via experience/scenarios.
     
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  9. miximitosis

    miximitosis Well-Known Member

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    I recently did my Cert IV and Diplima through the National Finance Insitute in Brisbane (I did it with two ladies that work for you @Rolf Latham ;) ). I did the full 5 day face to face course with assignments to be completed after and thought it was quite good. If you have no finance background I would highly recommend the face to face course to ask questions.
     
  10. MissP

    MissP Member

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    Thanks very much everyone for your advice and comments.
     
  11. SirDingo

    SirDingo Well-Known Member

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    How long does the Diploma take as opposed to the Certificate IV?
     
  12. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    f2f both together 5 days,with prob 4 to 10 days assignment work post f2f

    Cert 4 one can do in less than 5 days total.

    ta

    rolf
     
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  13. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    Used these guys for cert IV and the diploma Australia-AAMC Training Group

    If you have no prior knowledge of property investing/loan structuring etc you might learn a thing or two....otherwise it's not overly difficult.

    Cheers

    Jamie
     
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  14. Northy85

    Northy85 Well-Known Member

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    Is that for real, you can actually get a real diploma in 14 days or so? Most other diplomas I have looked into take around 2 years to complete.
     
  15. Peter_Tersteeg

    Peter_Tersteeg Finance broker and strategist Business Member

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    It's not difficult to get qualified as a broker. The hard part is being successful at it and it's getting harder. The Paraeto Principal has the industry pegged.
     
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  16. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    It's for real.

    Getting clients in the door as a new entrant is a different story.

    Cheers

    Jamie
     
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  17. Mumbai

    Mumbai Well-Known Member

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    Noob question alert :
    If a mortgage broker does his/her own loan, do they still get the commission and trailing income?
     
  18. York

    York Finance Broker Business Member

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    Yes.
     
  19. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    Yep - just sent some loan docs back for an IP I've refinanced today :)

    Some lenders don't like it - others haven't got an issue with it.

    Cheers

    Jamie
     
  20. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

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    Getting the paper is easy.

    The learning comes after that :)
     
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