Mortgage broking tipped to be a top growth industry in 2013

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Demand for mortgage brokers will rise in the coming months as organisations continue to develop their finance and lending areas and clients seek the best advice when it comes to financial concerns, according to a new report by one of the country’s leading recruitment centres.

International recruitment agency Hays’ Quarterly Report Jan-March, 2013, lists mortgage broking as being one of the top industries expected to experience growth this year.

“Mortgage broking, mortgage support and mortgage compliance – there seems to be an increase in demand for mortgage candidates as more and more organisations add finance arms to their business. Banks also have seen the flow-on affect with more loans to be processed. Transformation projects have also caused an increase in demand.”

In a statement made to news.com.au, Hays senior regional director, Peter Noblet, says mortgage and finance employees are becoming more sought after as time goes on.

"They're always in demand, professional advisers to corporate and individuals, because everyone wants to get the best advice they can when it comes to financial matters.”

The report says Hays expects to see increased pressure on salary and remuneration packages in some ‘metro’ markets, which is being driven by the temporary oversupply for various types of staff.

“That being said, candidates with a steady work history are still in demand. In the accountancy and finance industry, for example, salaries appear to be under pressure with several firms offering better training and internal development to entice new candidates. Employers will need to promote their organisations more to attract top-tier candidates.”

  • KT on 14/01/2013 5:20:09 PM

    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).

  • Positive Broker on 14/01/2013 2:50:35 PM

    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.

  • Keith B of the West on 14/01/2013 1:38:52 PM

    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!

  • sidbroker on 14/01/2013 11:36:18 AM

    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 on 14/01/2013 11:03:09 AM

    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

  • Country Broker on 14/01/2013 9:34:54 AM

    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.

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