In Australian Broker’s ongoing spotlight series on standout professionals in the broking industry, we turn our attention to Perth-based broker Nick Anderson, founder and managing director of Sonam Capital.
With nearly 20 years of experience in financial services – spanning commercial banking, private lending, and roles at major institutions like National Australia Bank (NAB), Bankwest, ANZ, and fund manager Australia Securities – Anderson brings deep expertise to his work. Nearly seven years ago, he launched Sonam Capital, a firm that helps navigate both the residential and commercial loan markets.
Australian Broker caught up with Nick to learn more about his journey and what sets his business apart.
The following interview has been edited for grammar and clarity.
AB: Tell us a little bit about yourself. What is your background? And how did you become a broker?
NA: Prior to becoming a broker, I worked as a commercial banker and in private lending. With those roles I developed credit knowledge, as well as an understanding as to how lenders go through credit processes. A fair bit of the deal flow in my job in lenders came from brokers. So I would deal with them from the other side. I also saw what commissions they were getting paid and thought I was on the wrong side of these transactions.
AB: What made you decide to start your own firm?
NA: I come from a family of entrepreneurs. At the time I decided to do this I was a salaried employee and it wasn’t a life I was loving. I was living in Melbourne at the time and working for a private fund. I had worked in organizations for my whole professional life before this and wanted the freedom to be my own boss. I knew I needed a change and spoke to my wife about becoming a broker – but doing it back in Perth where we’re both from and we have strong networks. She was supportive of this so I used my Perth-based network to establish the company with Will Lockett, [managing director] at Specialist Finance Group (SFG) helping me out.
AB: What is the secret to your success? Why do you think you've been successful as a broker?
NA: We try to simplify things as much as possible, including our own business. In order to do this, we created some simple messages to reiterate to ourselves, which helps guide us. They are to fundamentally maintain strong ethics with every deal, even if it’s to our own detriment. Always make decisions that are in the best interests of the client. We also keep up a robust relationship with our supply side. Good relationships with lenders enables us to give good service to our clients. The simplest way of putting it is, to always be a good person.
AB: What are some of the strategies, tips or best practices for working with clients? And for working with lenders? And what are you doing that other brokers are not doing?
NA: I don’t think we’re unique in doing this, but [we say], always being a good person and acting with integrity. We never try to hide things. When we identify a potential issue with a deal, we flag it early with the lenders to ensure it’s not something that’s going to surprise them. If it’s a deal-breaker, then it’s better to know early rather than after everyone has put hours of work into a transaction. We also always pick up the phone or return a call. It’s one of my great frustrations when my calls aren’t returned and I think it’s a fairly easy thing to do as a basic courtesy.
AB: How is Perth's property market – both residential and commercial – different from other parts of Australia? What are some of the challenges you've faced in Perth that are maybe not present in other parts of Australia?
NA: There's very strong growth in residential property values caused by population increases, as well as supply not keeping up with this demand. We're seeing more investors from other parts of Australia here as well, due to more affordable properties with higher yields and greater anticipated value growth.
Depending on the commercial asset, we’re seeing strong values as well. Industrial assets are very hard to find with a big shortage in supply. Good opportunities for development of these types of assets. Offices are seeing a bit of a comeback. COVID-19 impacted WA a lot less than other areas, so there’s a bit less of a work-from-home culture here.
AB: What are your thoughts on Australia's loan and property markets as we enter into the back half of 2025? Are you seeing more activity than a year ago? Or less activity than a year ago?
NA: We’re only a small firm, so we don’t get a good view of the national loan and property markets. Our business is certainly seeing a lot of activity. But that’s due to us providing good service to our customers and we’re therefore getting repeat business as well as referrals.
AB: With two rate cuts (and a recent hold), the re-election of the Labor party and the continued threat of US tariffs, how do you navigate this volatile market? And what advice do you have for clients or would-be homeowners during this time?
NA: Most of these are macro factors that are outside of ours, or our client’s control. The best time to buy a home is when you feel you’re ready. Markets have always been volatile and there’s always something going on in the country and around the world. Don’t let it all pass you by while waiting for these things to cease, as the next thing will be there afterwards. Take measured risks and don’t believe everything you read.
AB: What other trends are you seeing in the market at the moment?
NA: We’re seeing more demand for commercial brokers and a bit of a draw to that field, particularly from commercial bankers. The broker space services and estimated 35% of the commercial market, versus 76.8% of the residential market. Competent commercial writers are undersupplied. Entrepreneurial commercial bankers are seeing the opportunities and making the move.
