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He wrote a staggering $480,816,410 in business in 2013/2014, he famously works 19-hour days and he’s just been crowned The Adviser's Elite Business Writer of the Year for 2014.
Sydney-based broker Justin Doobov has topped this year’s rankings for brokers who simply write a sheer volume of numbers. Mr Doobov topped a stellar field of brokers in this year’s top 50 who, combined, wrote some $5.18 billion in volumes in the financial year.
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Mr Doobov from Intelligent Finance regained the top spot he occupied in 2012 after ranking fifth last year.
His $480 million in volumes included $235.5 million in residential home loans, $223 million in insurances and a further $22.3 million in other lending such as commercial, vehicle and business loans. He reinforced what the Elite Business rankings are all about – acknowledging Australia’s top-flight brokers with diversified businesses.
Mr Doobov – famed for his 19-hour work days that have him starting at 3am – agrees that plain hard work was behind his phenomenal year.
“Most people work hard for a bit and then take a break and sit back and look at what they’ve done,” he said.
“My thinking is, sure we’re doing well, but how do we do better? Brokers will strive to improve their numbers but often the answer to that is in improving their processes.”
Of his incredible work hours he said, “I do regularly get bagged for that and, yes, I agree it’s not sustainable”.
However, Mr Doobov argues there’s more benefit in ratcheting up the work effort in the good times than when things inevitably slow.
“If you’re just doing 40 hours a week [when the market is hot] then you’re an idiot because brokers should be taking advantage of the market when it’s strong," he said.
“Don’t think if a downturn comes 'I’ll simply work harder' because you should be working harder now."
A full report on this year’s Top 50 Elite Business Writers appears in the coming November edition ofThe Adviser magazine.
Some of the main points to come out of this year’s rankings included: overall residential loans written by this year’s Top 50 increased 14.3 per cent year on year to 15,134. The average loan size was $329,982, which was actually a $20,000 decrease from the year before.
The top broker for mortgage volumes was ACA Mortgage Solutions’s Raymond Xue, who wrote $247.2 million in loans.
Mark Davis from The Australian Lending & Investment Centre was the top loan writer for mortgages written with 722.
Best rookie was Jayden Vecchio from Brisbane’s Discovery Finance Group who, in his 12-month broking career, managed to write $112.3 million in business.
The top placed female – ranking tenth overall on this year’s list – was Mardee Thomas from 1st Street Home Loans. “I am very passionate about what I do which makes my job that much easier,” Ms Thomas said of her success.
[Related: Top broker Justin Doobov starts work at 3am]
