After more than two decades in the mortgage industry, Mark Seccull has seen broking evolve from handshake deals to high-tech solutions.
The MoneyQuest Highett finance specialist shares how he built a thriving business from a single referrer, why compliance has been the industry’s best upgrade, and how brokers can stay relevant in the age of AI.
When Seccull returned to Melbourne in early 2004 after two years in Southern California with his wife and three children, he was ready for a change. A friend had introduced him to mortgage broking before he left Australia, and the idea of working for himself had stuck.
“I had always wanted to work for myself, and the timing was perfect to take a leap of faith and enter into the finance industry,” Seccull says.
What he didn’t expect was that his defining career moment would come just months later — in a challenge that would set the tone for the next two decades.
In his first year as a broker, Seccull had the chance to secure a valuable referrer — but there was a catch. The referrer already had a direct relationship with a major bank’s broker and wasn’t convinced he could match what they offered.
“They offered me to become their back-up broker as they weren't sure if I could provide them with the exact same products and structures,” Seccull says.
Instead of walking away, he went into research mode.
“I didn’t accept what I was being told by the bank, so after numerous phone calls and emails, I found out I could offer exactly the same loan and structures they were currently receiving,” Seccull says.
That left him with one more task — creating a point of difference. Seccull focused on his attention to detail, understanding what the clients truly needed, and making himself available after hours. The result? He won the business.
“I still deal with that referrer today and the relationship is as strong as ever,” Seccull says.
Over his 21 years in broking, Seccull has seen the industry mature — and one development stands out as the most positive.
“The most positive development has been the upgrading of compliance requirements and making all brokers accountable for the level of ethical service they provide to their clients,” he says.
Seccull believes the higher standards have “vastly improved the reputation of the broking industry, establishing it as a very professional and respected industry.”
While technology has been a valuable tool for brokers, Seccull sees the rise of AI as both a potential asset and a threat.
“If banks use AI so that they can directly communicate with borrowers and simply click a button to apply for a loan, where does that leave the broker as a valuable service provider?” Seccull says.
His advice to the industry: stay ahead of the curve.
“Aggregators and brokers need to be constantly reviewing their systems and technology so as to stay relevant and not become redundant,” Seccull says.
For those starting out, Seccull stresses the importance of building a strong network and being transparent with clients.
“Off the back of a great referrer, I was able to build my business in the early days and help provide me with a pipeline of work that allowed me to learn quickly on my feet,” he says.
And when it comes to client trust, Seccull believes honesty is non-negotiable.
“If you don’t know the answer, don’t make it up,” he says. “Tell them you’ll come back to them, find the answer, and get back to them as quickly as you can. I believe it builds respect straight away.”
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