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Discover the 8-step plan to take the leap to become a self-employed mortgage broker today!
Mortgage broking is a vibrant industry built on diversity. It offers career opportunities for many different personality types, from natural born marketers to process-driven technicians.
Some people find their way into broking from banking or through the large franchise groups and boutique brokerages. Others have been self-employed business owners from day one. Our industry is home to high performing brokers in various business models and many have made the move from one model to another.
But leaving a PAYG role to become self-employed is not as simple as picking a logo and choosing an aggregator. Starting a business is a life-changing experience that requires careful consideration and preparation.
Gaining a better understanding of the day-to-day realities of running your own brokerage s essential for those contemplating this path.
Download our guide and start your own mortgage brokerage today
In our better brokers’ guide to starting your own mortgage brokerage, you will discover everything you need to know about starting your own path to self-employment.
Identifying your strengths and weaknesses
Our ebook is broken up into eight comprehensive steps. The first of these helps you uncover your unique skill set and how to harness your strengths to realise your ambitions to be your own boss.
We also explore the three most important principles every brokerage needs:
- The Client: How are you going to attract business, promote yourself and maintain your customers?
- The Process: What operations systems are in place? What technology are you using and is it creating efficiencies for you?
- The Measure: How profitable is the business and what is the end goal?
The three top tips for a smooth transition
The second step in our ebook features an interview with Joshua De Buelle, who is a multi-award-winning Principal of FiNext, a WA-based brokerage. He shared with us his three top tips for a smooth transition into self-employment.
- Set aside some money: Cash flow problems can cripple even the most driven business owners in the first 12 months. Work out a budget and be prepared to live off your savings for a few months before you begin earning. As a rule of thumb, be sure to have six months of financial coverage.
- Lock in referrers: Have a chat with any existing referrers you may have. Ask them politely if they would stay with you should you decide to leave and set up your own company, subject to any contractual commitments they have. Find out if their allegiance is to you or the brand you work under.
- Find a rock-solid mentor: You need an experienced broker who has travelled the road before you to help you on the journey. Someone who will hold you accountable, challenge your thinking and support you through the ebbs and flows of operating a small business.
Get the most out of your aggregator
Later in the ebook, we discuss the support and tools you will need to kick start your business and keep it running smoothly while you find your first clients.
We interview AFG Head of Sales and Distribution, Them Lam, who has been helping brokers grow successful businesses for almost 15 years.
“Brokers that succeed deliver a good customer experience and know their products” he says. “If you want to start a brokerage, you need customers – that's the most important thing.”
Become a self-employed broker today
Avoid the ‘rookie’ mistakes many business owners make when making the journey into self-employment. The better broker’s guide to starting your own mortgage brokerage gives you tips and insights from brokers who’ve built successful businesses from scratch.
Supporting you throughout your broker journey
If you’re interested in our guide to starting your own mortgage brokerage, you might also be interested in the other ebooks in our better broker series:
High performance broking - customer experience & workflow optimisation
Building profitable referral networks
Diversifying your business into commercial lending
Looking for the right support and tools to grow your business?
Contact us for more information about how we can support you throughout your journey.
Remember you can always reach out to Them Lam, our Head of Sales and Distribution for a chat here:
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