Even in this difficult market, there are still between 40,000 to 50,000 properties being financed every month! |
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Much has been written about the state of the housing and financial markets.
The US sub prime meltdown, trillion dollar bailouts, the cost of funds etc.
There has certainly been a shake out and some of the major non-bank lenders who once dotted the financial landscape are gone.
Property is still a major asset in Australia and many people still aspire to the dream of owning their own home.
Whilst in many areas values have reduced considerably causing pain and grief to some, it also offers affordability to others... and they need finance.
Investors are enticed by some of the developers liquidation bargains and repossession sales... and they need finance.
The numbers may have changed but the need for finance will always be there.
With the new home owners grant of up to $21,000, lowering interest rates and reduced purchase prices we are seeing a strong market especially from the first home buyer.
As part of our expansion plans we are recruiting and mentoring suitable candidates throughout Australia and New Zealand toward building their own accredited brokerage businesses under our umbrella.
The Rewards |
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To offset some softening in the market, it is now becoming common for modern day mortgage broker to add extra products and services including general finance (car, equipment, personal loans etc) and general insurance (cars, homes, business etc).
Whilst there are very healthy commissions and renewal fees associated with general finance and insurance, let's here focus on mortgages.
As an accredited mortgage broker you can earn income from 2 primary sources
1. An up-front commission of approx 0.40% to 0.60% of the loan amount depending on the chosen lender.
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This means you can receive around $1500 to $2,000 upfront on a typical $350,000 loan
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plus
2. a trailing commission, of around 0.20% per annum (depending on the lender) paid monthly for the life of the loan!
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This means you could also receive over
$50 every month for the same $300,000 loan.
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Imagine when you have 50 loans each paying you $50 per month. |
A business opportunity to become a mortgage broker
Finding Clients!
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There are several proven strategies which we will teach but without doubt it's forming strategic relationships with compatible partners including real estate agents, accountants, lawyers etc.
Have a look at one of our business building sites
www.jointventures.com.au
Some brokers prefer dealing directly with the real estate sales people rather than dealing with the agency (many of whom have mortgage access through head office / franchiser relationships).
These franchiser arrangements are seldom beneficial to the 'soldier' on the front line and have been fairly poorly supported.
We also have lead generation system through a growing network of Referral Partners who focus on retail marketing relationships.
click here for details>>
When appropriate, let's align 1 or 2 referral partners to your business.
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A business opportunity to become a mortgage broker
Getting Started!
Almost every major lender and bank will only deal with MFAA 'accredited' brokers, so you will need to complete an approved short course, carry some Professional Indemnity insurance and be 'mentored' during your induction period.
We have arranged discounts with some of the educators so speak with us before enrolling into Cert 1V.
We will help you navigate through all these rules and guidelines and discuss your options.
