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Ballarat Lending Centre principal Ray Watson is a broker based in the Victorian regional city of Ballarat
How long have you been a broker?
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I’ve been a broker for five years, and prior to that I worked at ANZ for just over 40 years.
How did you get into the industry?
Basically, I’d had enough of working in a large bank and realised I had skills that I could apply to my own business in a similar role.
What are the advantages of broking in a regional area compared to the capital cities?
Ballarat has got a population of approximately 100,000 people, so I know a lot of the people who live here. I might go shopping down the street or attend a local sporting event and run into a few clients, so I tend to have more personal contact with customers. I also formed a good network of people during my time in banking.
What are the disadvantages of broking in a regional area?
I really don’t think there are any to be quite honest.
Are there any reasons why brokers who work in capital cities wouldn’t want to work in regional areas?
Some might not want to work in rural areas because property values aren’t as high and the size of loans is much smaller. They might have to make three deals instead of one to write the same volumes.
What’s the biggest day-to-day challenge you face as a regional broker?
Making sure that new business leads are always coming through. You need to keep at it all the time. We’ve recently set up a Facebook page, so we’re finding that we’re getting a lot of contact now through social media.
What’s the best thing about being a broker?
Being your own boss and having that flexibility. You’re not tied down to sales targets and weekly meetings. I can just do my own thing and make sure that my clients’ needs are met.
