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Jessica Darnbrough
The third party channel needs to do more to promote the benefits of becoming a mortgage broker, one of Australia’s Elite Business Writers has claimed.
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Speaking to The Adviser, House & Home Loans’ Rael Bricker said it is hard to attract new recruits to the industry because university graduates don’t understand what a finance broker is.
“They don’t really have any dealings with property by the time they graduate from university, so they don’t even consider a job in mortgage broking,” he said.
In order to change this, Mr Bricker said brokerages should become actively involved in career expos and university open days.
“We need to not only explain what a finance broker is, but the benefits associated with working in this profession,” he said.
“In our business, we create two streams for new-to-industry recruits.
“We have a path whereby new recruits can come in and work as assistants and loan processors and spend a few years doing that. They can work their way up the ladder and eventually manage a team of loan processors.
“Alternatively, we can introduce them to loan processing and, after a few years, move them into broking.
“By the time they are ready to become a broker, they already know the ins and outs of the industry, so they are ready to hit the ground running and they also have some capital behind them.”
