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Viewing 8 posts - 1 through 8 (of 8 total)
  • Profile photo of sam0000sam0000
    Participant
    @ahmed2016
    Join Date: 2016
    Post Count: 2

    Hi all,

    I was looking into the job of being a mortgage broker and have question:

    If i get Certificate IV in Finance and Mortgage Broking how can get to any aggregator because as far as i know that you need (2) years experience and some of them they have their own training and fees ?

    What is you advice should do the course by my self first and then apply to aggregator ? or go direct to the aggregator and do the traning with them ?

    and i want do this as part time job .

    Thanks for the help,

    • This topic was modified 3 years ago by Profile photo of sam0000 sam0000.
    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,173

    You can get a mentor during the first 2 years

    Terryw | Structuring Lawyers / Loan Structuring Pty Ltd
    http://propertytaxbook.com.au/
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Aust wide) http://propertytaxbook.com.au/

    Profile photo of Ethan TimorEthan Timor
    Participant
    @ethantimor
    Join Date: 2016
    Post Count: 282

    Hi all,
    I was looking into the job of being a mortgage broker and have question:
    If i get Certificate IV in Finance and Mortgage Broking how can get to any aggregator because as far as i know that you need (2) years experience and some of them they have their own training and fees ?
    What is you advice should do the course by my self first and then apply to aggregator ? or go direct to the aggregator and do the traning with them ?
    and i want do this as part time job .
    Thanks for the help,

    I agree with Terry. Find yourself a mentor for the first 2 years. Just make sure they are compatible with the aggregator (some accept only mentors that know their CRM system, for example).

    There is A LOT to learn but it could be a great part time job, no doubt.

    Best wishes!
    Ethan

    Ethan Timor | Aligned Finance Pty Ltd
    http://www.alignedfinance.com.au/
    Email Me | Phone Me

    Active Investor & Broker; Based in Northern NSW, servicing Australia wide; Author of '34 Proven Ways to Maximise Your Borrowing Power' (download free from our website)

    Profile photo of JerryJerry
    Participant
    @jerry_o
    Join Date: 2013
    Post Count: 46

    HI Sam,

    All the certifications, diploma and trainings are important but finding a good mentor is where you really need to put all your effort in. They are invaluable in the long term as they will share with you their industry knowledge and that is what will make you a good broker. Not all the textbook reading can equal the teachings of a good mentor. As brokers, we provide solutions for our clients. Having a mentor who is experienced in proper finance structure is of paramount importance IMHO.

    Regards,
    Jerry

    Jerry | Mortgage Station
    http://mortgagestation.com.au/
    Email Me | Phone Me

    Finance Strategist - Active Investor - Serving clients Australia-wide - Based in Sydney / Melbourne

    Profile photo of Corey BattCorey Batt
    Participant
    @cjaysa
    Join Date: 2012
    Post Count: 1,010

    Best to get the diploma sorted at the same time, otherwise you’ll be too busy to later when you’ve started up.

    You’ll need to be mentored for two years, so get this sorted.

    As an industry, I’d discourage anyone from doing it part time – to provide any real value as a service you need to be writing significant volume to get enough knowledge/experience with the products, policy and structure of lending. This is a very time sensitive industry, when a client needs something done immediately, it doesn’t really work to tell them you’ll get to it three days later – you either provide poor customer outcomes or you end up working full time.

    Corey Batt | Precision Funding
    http://www.precisionfunding.com.au
    Email Me | Phone Me

    Investment Focused Finance Strategist - servicing Australia-wide

    Profile photo of Colin RiceColin Rice
    Participant
    @fms
    Join Date: 2011
    Post Count: 338

    I agree with Corey, its a full time commitment and some, especially when starting out.

    You will need to do a lot of networking and marketing to get clients and this can be done on a a budget and will likely be that way regardless.

    A good book I listened to via audible.com a few years back was called “Duct Tape Marketing” which is about clever marketing on a budget.

    You will need at least 12 months in savings as you wont start earning money until the pipeline is full and that assuming you are doing everything right.

    You also need to be able to sell yourself with out being salesy as people are buying into you first as you will be driving the deal or project managing the whole process, or you should be.

    This business is a combination of excellent advice, solving problems, managing people and expectations, dealing with high pressure situations and the day to day running of a business and all that comes with it.

    Not for the fainthearted but if you plan and prepare well financially and roll with the punched you can do well.

    Colin Rice | CDR Finance
    http://cdrfinance.com.au/
    Email Me | Phone Me

    Perth Based Mortgage Broker - Investment Property Finance Specialist | E: [email protected]

    Profile photo of Ethan TimorEthan Timor
    Participant
    @ethantimor
    Join Date: 2016
    Post Count: 282

    All solid advice. Completely agree with everything said but I feel the need however to clarify my “a great part time job” comment.

    As mentioned, there is a lot to learn and be on top of. I also agree that it’s not something you can probably do after your ‘day job’.

    But if you are like me, being in a position of being time rich without the financial need to earn a full living out of being a broker, then sure, it can be a part time job. If you are dealing with 1-2 leads per week, it won’t fill up your work day, but you do need to be available for your clients and for the process (from initial meeting to settlement and beyond).

    Two weekends ago, for example, I actually worked on a Sunday, including texting and exchanging several emails with a client, all that he could get approved on Monday (it was a matter of urgency for him). Mission accomplished, by the way 😊

    Hope this helps?

    Cheers,
    Ethan

    Ethan Timor | Aligned Finance Pty Ltd
    http://www.alignedfinance.com.au/
    Email Me | Phone Me

    Active Investor & Broker; Based in Northern NSW, servicing Australia wide; Author of '34 Proven Ways to Maximise Your Borrowing Power' (download free from our website)

    Profile photo of sam0000sam0000
    Participant
    @ahmed2016
    Join Date: 2016
    Post Count: 2

    Thank you , everyone for all information it’s very useful and rich of experience , Im still doing my research about the mentor if you guys can suggest any good one located in Sydney ?

    Regards ,

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