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Average broker incomes drop $9,000

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Australian Broker | 09 Nov 2017, 08:25 AM Agree 0
A new industry report has found that brokers are earning less money before tax and are also submitting fewer loan applications
  • Pfft | 09 Nov 2017, 08:47 AM Agree 0
    If you only write 2m in 6 months why are you wasting your time in this industry. Go work at bakers delight you will earn more money.
  • Broker | 09 Nov 2017, 02:39 PM Agree 0
    Ditto, if you are only settling 5.9MIl per annum!
  • Steve McClure | 09 Nov 2017, 04:32 PM Agree 0
    Analysis of the MFAA stats: 16,000 brokers writing $94.61Bill = ave $5.9Mill pa per broker. Applying the 80/20 rule, 20% (3,200) of the brokers write 80% of the total, i.e. $23.6Mill, close enough to $2Mill pm. That leaves 12,800 brokers writing less than $1.5Mill per year each, unsustainable. However, some brokers are asset finance, predominantly or exclusively. So, the market is saying we have too many brokers, or is it that dormant brokers are just remaining "current" to collect trails and that the figures don't account for all sectors of the industry?
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