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Vivienne Kelly
New recruits in the third party channel have plenty of reasons to be optimistic, according to one successful young gun.
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Hank (Hoa) Hong, senior mortgage consultant at Home Loan Experts and winner of the Newcomer of the Year Award at this year’s Australian Broking Awards, said the credit market has improved since he joined the industry, which is great news for his bottom line.
“I’m very happy with business at the moment and am expanding my presence as a broker.”
“Being young in this industry is always going to be hard. Age gives you seniority,” he said. “On the flipside, the market is changing and there are a lot of people under 30 who are now purchasing houses.”
Mr Hong said that many first home buyers and eager young investors are keen to connect with brokers who are “on their level”, so young brokers should be marketing to this emerging market segment.
Despite his own outstanding success as a young recruit in the industry, Mr Hong said it can be difficult for new recruits to stay in the profession.
“It’s very hard, especially if you’re a one-man band, but if you can find the right broker who is going to train you the right way, you’ll be able to stay in the industry.”
Mr Hong settled $42 million of loans during his second year of broking, and has a two year plan to take advantage of the evolving market and increase his volumes to $120 million.
For other brokers aged 30 and under, The Adviser will soon be opening its Young Broker of the Year ranking for submissions.
