A move from Victoria to the Sunshine Coast over fifteen years ago prompted Trevor Ryan to shift course and start a business as a mortgage broker.
The year was 2002 and Ryan says it was after seeing an ad in the local paper, his interest was piqued. Prior to this he admits he had not thought about a career in property or finance.
“My father only ever bought the one house and no one in the immediate family was in banking, finance or real estate.”
That all changed after he submitted an application to become a broker with Aussie Home Loans.
“I applied, got accepted and I’ve never looked back,” he tells Kochie’s Business Builders (KBB).
In the sixteen years since starting his mortgage broking business, Trevor has assisted 1000s of Australians to find the finance to pay for their dream home. He describes mortgage broking as a very enjoyable profession and tells KBB it allows him to stretch his skills.
“It requires problem solving skills, a hard work ethic and good people skills to be successful. And if done well, it’s a very rewarding job.”
In his day to day as a mortgage broker, Trevor says he likes to keep on his toes. The most challenging aspect is staying up-to-date with the changes in the industry. He says to keep up it’s vital to stay focussed.
“Don’t resist the changes. Always keep working on small improvements in the business,” he says.
While many brokers operate out of the capital cities Trevor says his position operating a brokerage in a regional area delivers some unique challenges.
“Loan sizes are smaller,” he says. “And generally, there is slightly less Income capacity as there are less employment opportunities for full time work.”
Trevor tells KBB apart from these examples there are few other differences.
“People are people and have the same needs and requirements wherever they live.”
He suggests the benefits to consumers of using a broker are immediately accessible.
“You get a choice of lender, competitiveness of product and interest rate. Also, brokers can solve a lot of issues which a borrower may face, that a bank won’t have the time or ability to fix. Banks generally can’t work in a consultative mode like brokers do. A good broker is an excellent resource for customers and also, they aren’t going anywhere. The customer will have the point of contact for many years.”
Trevor says the best thing about being a mortgage broker is helping people achieve their goals.
“I like the problem-solving aspect and also it’s very financially rewarding.”
He suggests anyone looking to become a mortgage broker should do their homework first.
“Speak to a range of brokers, both successful and some not doing so well. Identify what you need to be successful and then start doing it. What you don’t know, learn; and be prepared to work hard and learn off others.”