Mortgage Choice franchise owner Deslie Taylor decided to become a broker in 2007 after 15 years in banking. The MPA Top 100 broker is based in Ormeau on the Gold Coast.
Q: What was your first job before you joined the finance industry?
A: I was a barmaid for five to six years ... and you learn in the hospitality industry to liaise with people from every single walk of life. After that, I moved to a bank as a teller and then became a consultant, before eventually evolving into a role on the lending side of the bank.
Q: What led to you becominga broker?
A: At the bank I became exhausted from long-term clients that were being denied credit approvals. Sometimes it was nothing to with credit policy but rather how the credit team felt about the deal. I was at the front line, having to tell these people their credit was declined, and there was nothing I could do about it. It encouraged me to look at other avenues of finance, broking in particular. The reason I chose Mortgage Choice was that I still wanted to be very transparent with clients, and the ‘paid the same’ policy was a drawcard. It was also about making sure I could get the client the right deal to suit their needs.
Q: What do you love most about your role as a broker?
A: When a client sits in front of you and they say, “I’ve got a curly one for you”. To know that you can educate them that their situation is unique and they’re not an ‘outside the box’ scenario. I love being able to sit down with a client and educate them about their financial position. Once they understand what they’re doing, understand what their goals are, and understand what their needs are, they’re able to make better decisions and are so appreciative. Customers are your biggest advocates.
Q: What is the most difficult aspect of being a broker?
A: When you’re dealing with clients who don’t want to take your guidance or your expertise into consideration and they walk away. You might say to them, “It’s going to take another six months, and you’re not ready right now. If you try this, it’s going to destroy your credit rating, and it’s going to destroy you financially, so we need to give you time.” You do everything you can to set the client up and get them ready, and you say, “We can’t do it today because the loan is going to be declined.” That same person comes back to you after three months, and after visiting three different brokers, and expects you to fix the mess. It can be very difficult to continue to educate that person that they’re just not ready.
Q: If you could change one thing about the broking industry, what would it be?
A: The stigma. Sometimes people see brokers as having that same stigma as used-car salesmen – that brokers are only there to line their pockets. Is it really what’s best for me, or is it how the broker is going to earn more money? More people need to be educated about what a broker does, and the stigma needs to change.