If you’ve bought a home or explored the real estate market, you may see mortgage brokers as a steady resource during the stressful homebuying process. They’re experts in mortgage rates, can guide you through stacks of paperwork, understand neighbourhoods and can point you in the right direction when looking for a home inspector or other vendor. But what’s it like from the inside, and why do more than 16,000 Australians work as mortgage brokers? There are plenty of reasons to explore a career as a mortgage broker. Here are a few to consider:
Independence & Flexibility
When you work as an independent mortgage broker, you can expect a certain level of freedom in your daily life. You’ll work with a variety of clients, who may grow to see you as an expert in the field, bringing in even more clients. As this happens, you can expect to gain more independence in managing your workload, setting your own business hours and even developing a niche within your field. You can decide what your work-life balance will look like and how you want to manage your business.
Room for growth
You’ll find significant room for growth when you choose a career as a mortgage broker. You won’t become stuck in an inflexible job or pay range, instead you’ll be able to grow in your business over time. There’s room for growth in income, establishing a robust client base and improving your reputation in your market.
You’ll also be able to establish relationships with different vendors, making you a one-stop-shop for homebuyers in the market. Those relationships are valuable and can help you grow within the industry.
Stay in demand
While the mortgage industry can fluctuate from year to year, many people will remain in the homebuying market or on the hunt for their dream house. If you’re at the beginning of your career, that means you may be able to gain employment with a reputable firm.
Or if you operate independently, you can stay in demand even as the market shifts. You’ll be able to build your skillset and expand your prospects, but you’ll always be familiar with the essentials of working as a mortgage broker. Once you’ve figured out the basics of becoming a mortgage broker, you’ll be able to build upon those skills, and in turn, build your business and remain in demand over the years.