New Mortgage Brokers 6-12 mths in - your opinions

Discussion in 'Loans & Mortgage Brokers' started by NewBroker, 22nd Dec, 2020.

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  1. NewBroker

    NewBroker New Member

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    I am sure there are a lot of opinions out there, and I am happy to hear them all!
    I am starting as a new Mortgage Broker in Melbourne in 2021 and am currently researching aggregator and mentor options.
    Would anyone care to share their experience?? Especially if they've found their aggregator to be really good (or really bad!) in terms of support and/or value, as well as mentor (whether it is a separate 1 on 1 arrangement or mentoring service that's included - provided by a team of mentors - big difference in cost but makes a big difference to success?)
    Thanks in advance
     
    NewBroker, 22nd Dec, 2020
    #1
  2. Morgs

    Morgs Well-Known Member Business Member

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    My view would be that it will be largely dependent on your background as to how you can help set yourself up for success.

    Are you coming out of another role in banking/financial services? That will help you facilitate a fast start and you can be less reliant on a mentor for the functional learning which will open up your mentoring options. If you have a background outside of the industry then you're going to want something more intensive and someone who you can work closely with you with your first deals and ensure you build the core functional competencies.

    The aggregator I'm with Loankit (Finsure) offer options that can help accommodate both scenarios. As an aggregator, they have fantastic support too.
    Broker Academy - Finsure | Leading Aggregator

    You will also need to consider what your business plan looks like outside of the functional broking competencies. There are many elements to running a business that you'll need to make sure you're across. For most brokers being able to sustainably find clients is one of the biggest challenges.

    Good luck! :)
     
    Morgs, 22nd Dec, 2020
    #2
  3. NewBroker

    NewBroker New Member

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    Thanks heaps Richard, that's really great advice.
    I don't have a background in the finance industry so I think you're right in that I'd really benefit from a high level of mentor contact, yep.
    My background is in client relationship and sales so I'm hoping to put those skills to good use to find clients , and am already teed up to get help with my business plan
     
    NewBroker, 27th Dec, 2020
    #3
  4. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    That will do more for you than any tech skill around broking. If you cant learn the tech side, you can buy the talent to some extent, but its a much steeper learning curve if one doesnt have the people and client acquisition skills.

    Very few starters have the Goldilocks skills package and need to work on one or the other.

    ta
    rolf
     
    Rolf Latham, 27th Dec, 2020
    #4
  5. JimmyB

    JimmyB Member

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    I am curious what/who you went with and what you learnt?
     
    JimmyB, 9th Mar, 2022
    #5