It’s not easy becoming a mortgage broker in today’s unpredictable and highly-regulated home loan environment, says industry newcomer Aaron Russell-Smith, but the challenges post-GFC environment has its benefits, too.
The 35 year-old Queenslander is in the midst of setting up his own broking business, after a positive experience with a mortgage broker – and a major life-changing injury - led him to pursue the career path.
“I started when I purchased my house in 2007. The broker I had was so helpful; I asked him questions about how to get into the industry and he said I needed to get a Certificate IV and join up with an aggregator.”
It took him another five years, following intensive physical therapy after a massive fall at his painting job left him paralyzed from the waist down, but Russell-Smith is now entering the industry with gusto.
The going hasn’t exactly been easy, he says, with the toughest adjustment being learning to live off a commission-based career, rather than wage-earning, income, as well as sorting through the piles of paperwork.