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How to foster the next generation of brokers

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Julia Corderoy | 24 Nov 2014, 07:46 AM Agree 0
It is no secret that the broking industry is an ageing one and that a real challenge the future livelihood of the industry faces is attracting and developing the next generation of brokers. So how do we do it?
  • charlie | 17 Jan 2015, 09:28 AM Agree 0
    yep, more interactions within the industry and outside the industry would help. more optional education and more courses, and more info would help brokers
  • CharlieX | 21 Jan 2015, 12:20 AM Agree 0
    In order for the industry to grow, make the industry more efficient, get rid of gatekeepers, and so on. Compare America's mortgage industry and Australia's mortgage industry, Australia's mortgage industry has all these unnecessary added costs from gatekeepers, including MFAA, CIO, and so on who are non-government organizations but act like government regulators. It's just too many layers of people who put themselves in positions to get kickbacks and trying to police the industry, but they don't have the authority, so they come up with their own marketing tactics to exist. the requirement that you must be a member of MFAA and CIO in order to be in the mortgage industry or for lenders to even deal with you is anti-competitive? this then makes the role of the government agency ASIC insignificant? As a professional engineer in America, my membership fee to the profession's national organization is less than half of the membership for MFAA. and what exactly is the membership fee with CIO, because it seems the more you make then the more it takes from you. Whatever happens to transparency? if the government agency has the authority to licence the industry then it must be the only one to regulate the industry. peer-to-peer regulation will become "if you scratch my back, I will scratch your back" or that most will not bite the hands that feed them. Industry organisations are good, but they need to be similar to the universities' role, such as for education, mentoring, and social activities. they must not become the gatekeepers for those going into the industry and those in the industry.
  • king clive | 16 Jun 2015, 09:06 AM Agree 0
    Broking houses need to pay a salary to young brokers and stop conning them with false promises of buckets of great leads.
    The big real estate franchises try to con brokers into joining them when all they offer are lists of punters who went to open to inspections.One agent mate said he had a young fellow doing this for 3 months from his office and had one deal.
    I think its disgraceful!
    Brokers need to put some time and serious hurt money into this area.If you cant afford the hurt money you cant afford a employee.
  • CharlieX | 16 Jun 2015, 09:46 AM Agree 0
    the requirements by these non-government regulators just add to more new industries such as brokers who have more than 10 mentees at $1000 per month of mentoring fee per mentee, plus thousands of dollars to buy the required MFAA materials, plus lots of time wasting activities to get through CIO requirements, and so on and on. you don't get to be a broker even you have passed your Cert IV and Diploma requirements. Every non-government gatekeeper must be paid for you to be in this industry. the pathetic thing is that more than 70% of the people in my Cert IV and Diploma courses have MBA already, and some of them are in Finance yet those MBA does not matter; it's reversing the role that an education/degree from RTOs are much better than from the universities? why don't the Australian Government just do away with the Australian universities and create more RTOs so people can get their Cert IVs and Diplomas, instead of getting their Bachelors, Masters, and PhDs; would the former make Australia a better nation?
  • king clive | 16 Jun 2015, 10:33 AM Agree 0
    These mentors sound like failed brokers who need to make a extra earn
    What a con !
  • CharlieX | 16 Jun 2015, 11:17 AM Agree 0
    the requirements by these non-government regulators just add to more new industries such as brokers who have more than 10 mentees at $1000 per month of mentoring fee per mentee, plus thousands of dollars to buy the required MFAA materials, plus lots of time wasting activities to get through CIO requirements, and so on and on. you don't get to be a broker even you have passed your Cert IV and Diploma requirements. Every non-government gatekeeper must be paid for you to be in this industry. the pathetic thing is that more than 70% of the people in my Cert IV and Diploma courses have MBA already, and some of them are in Finance yet those MBA does not matter; it's reversing the role that an education/degree from RTOs are much better than from the universities? why don't the Australian Government just do away with the Australian universities and create more RTOs so people can get their Cert IVs and Diplomas, instead of getting their Bachelors, Masters, and PhDs; would the former make Australia a better nation?
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