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Mortgage broking tipped to be a top growth industry in 2013

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Australian Broker | 14 Jan 2013, 08:15 AM Agree 0
One of Australia's major recruitment agencies expects the number of mortgage broking jobs to increase over the coming months as companies develop their lending areas
  • Country Broker | 14 Jan 2013, 09:34 AM Agree 0
    This may be well and good, what new entrants need to understand is it will take 12 to 24bmonths to become established and qualified , the pot of gold is not there to begin with.
  • Keith B of the West | 14 Jan 2013, 11:03 AM Agree 0
    This article lacks merit. The mortgage broking industry is rapidly changing and being crippled by compliance gone mad, hence we see the lcenced brokers' numbers on freefall. Why would new entrants be keen to join, as there is no longer a pot of gold at the end of this rainbow
  • sidbroker | 14 Jan 2013, 11:36 AM Agree 0
    To Keith B. You are exactly right. I know a lot of brokers who are not renewing their ACL license this year. The concencus is that it is no longer a viable industry to be in. New regulations have made it near impossible to assist a large percentage of our great Australians to get finance. Rising compliance costs and complications are stiffling progress. THEN OF COURSE WHAT ABOUT A FAIR GO FOR ALL AUSTRALIANS. WE DON`T NEED THIS NCCP OVER REGULATION.
  • Keith B of the West | 14 Jan 2013, 01:38 PM Agree 0
    And I forgot to mention falling commissions and higher operating costs due to compliance!.

    To new entrants a word of advice, be very wary of promise of a six figure income. The road to success is fraught wiht many dangers, many from individuals wanting to take your readies up front on the premise of a wonderful career in mortgage broking!
  • Positive Broker | 14 Jan 2013, 02:50 PM Agree 0
    Interesting comments. My business is actually growing rapidly, albeit from a low base. Sure, the compliance is hard but with the right systems it isn't impossible. With upward pressure on commissions I reckon the future is pretty exciting.
  • KT | 14 Jan 2013, 05:20 PM Agree 0
    I agree with Keith B.
    Compliance is far too onerous and expensive. The silly Diploma required to upgrade Broker's skills is another ridiculous requirement (another time wasting exercise that provides no benefit to the end consumer).
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