Broker training academies experience surge of interest

by Mackenzie McCarty10 Jan 2013

Mortgage broker training providers have experienced an increase in new recruit interest over the past month as many Australians seek a 2013 career change.

Loan Market Broker Academy in Queensland received a record number of applications from potential new-to-industry brokers over the Christmas period, while Sydney’s Walker and Miller also experienced a spike.

Loan Market Queensland state manager Andrew White says 75 applications were received over the holiday break, which was a substantial improvement on the 17 received over the same period last time.

“This is an amazing result and was certainly unexpected. It does give further evidence to the belief that our industry is becoming attractive to those outside the industry looking for a change…To see such a large group eager to join our academy is the perfect way to end 2012.”

White says the academy has also witnessed a significant shift in the demographics of the applicants.

“Nearly 70% of these applicants are from people under 30 years old, when usually less than 1 in 4 of every application is from this age group. It is certainly encouraging to have younger generations considering a career as a mortgage broker.”

Walker and Miller training manager Julie Evans says a surge in enrolment this time of year is not unusual, but it’s always encouraging.

I think this time of year a lot of people re-asses what they’re doing, so there’s always a spike and we certainly have seen that. I think it’s because it’s an occupation that the everyday person comes across. Anybody that wants to buy as house will deal with a mortgage broker and when you decide what you want to do with your career, most people find positions in areas they’re familiar with.

Evans says the finance and mortgage industry can also appeal to those looking at a career change due to the fact that the training doesn’t involve significant time-investment like some other professions do.

“Anyone can do the Certificate IV and become a mortgage broker. If you want to become a lawyer, it’s a lot more difficult. We get interest from a large variety of backgrounds – a lot of people in banking, property related industries, etc -  but it’s definitely a career- change position, rather than something people aim for coming out of high school.”