Broker Spotlight: Bren Rodda, Loan Market

I’ve been a broker for five-and-a-half years.

How did you get into the industry?

I had a mate who worked at Loan Market, and I was always on his case asking him what his job involved and what the industry was like. He recommended I have a crack at being a mortgage broker, so I did all the courses, signed up for it and haven’t looked back. It’s the best thing I’ve ever done!

What are the advantages of broking in a regional area?

Darwin is big enough for you to write good business and small enough to make a name for yourself. You’re not just a number here – you have the chance to get to know all of the agents.

What are the disadvantages of broking in a regional area compared to the capital cities?

I don’t think there are any. I love it here, and I couldn’t think of another place where I’d rather be broking.

What are the misconceptions that city brokers have of regional brokers?

Some think that you need a big population to become a successful mortgage broker, and that’s just not necessary. The smaller the population, the more people get to know you, and the more business you write.

What’s the biggest day-to-day challenge you face as a regional broker?

The process time of loans – how long it takes to submit an application and follow it up. The time spent on the process of loans could be spent on selling and being more productive in other areas of my business. Also, the amount of paperwork has doubled in the last five years, which has slowed down processes.

What’s the best thing about being a broker?

Having happy customers. If you do your job right, even if you can’t give them a loan, people will always walk away happy if you handle everything correctly.

What would you be doing if you weren’t a broker?

I’d probably be staying at home with the kids!