ok so what im getting here is that the mortgage brokering business isnt a great career to get into right now. Im actually considering starting up with Aussie but it is posts like these that make me think twice. To be honest i think i would love it but at the same time i dont want to get into something that will make me struggle and pay me peanuts. So please guys can you help me with any advice. IS it worth getting into right now, should i spend $10000 in getting started, how much commission does aussie pay and is there a future in brokering.
P.S i have some experince in investing and finances through my part time trading with CFD's and Forex so im not a complete newbie. lol
its very hard when starting off, and especially hard now. I just heard of one guy who got a preapproval with a bank thru a broker and then the bank offered him 0.15% extra if he went direct – its very hard wto get clients and then when you do find one the bank will steal them from you.
I would suggest you keep your day job and try it part time.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
There is no reason you cant get an entry level job in finance e.g. Work as a loan processor in a broker firm or processing centre in a bank . Mobile banking and broking is largly a sales role however. If you want to make sales / make money best to get some hours working behind the scenes. At least you will learn a few tricks before practicing with peoples money…
From what I understand, Aussie does not pay you any trailing commissions until you achieve 20 million worth of settlements.
In other business models this could be $30,000 of missed annual income and worth $60,000 to $90,000 in resale value.
Register your interest on my site (below) and I will send you a bunch of stuff
Hi Christine
I am canberra based mortgage broker, Results graduate and active property investor. Contact me on [email protected] if you want to catch up.
Thanks
GregHey hans whats your interests with mortgage house. Why not recruit straight through the mortgage house website why use another site ( brokersite) to recruit it just makes it look suspicious……. just a thought………………anyways so you guys think maybe start part time and get to learn the ropes then go into full time. I know that the industry is bad at the moment but maybe its a good time for me to start so i learn the hard way and then when the good times return it will be easier. Well lets see how i go. …..hey hans what are the commisions that mortgage house pay. their brokers and what states are they recruiting the most for.
also if a bank does take a client of you after you did all the hard work can u not sue them due to the fact that u introduced the client and without u they would never get that client. I think a form of compensation would be fair. Looks like the banks are really trying to get rid of brokers maybe its time brokers got together and came up with a solution to this. just a thought
Hi Elol, Mortgage House is one of my clients who are currently expanding.
I associate with several aggregators / sub aggregators and mortgage managers.
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