The Adviser chats to Loan Wize broker Jon Colley
Q: How long have you been a broker?
About 11 years. I was in the bank before that, doing commercial lending but I've always wanted to own my own business and career progression in the bank was relatively restricted in regional areas.
Q: What are the advantages of broking in a regional area?
Lifestyle is one of the big ones for me. I love regional Queensland and the Sunshine Coast is close enough to Brisbane so that it still has all the benefits of being close to the city. We've got 300,000 people nearby so it's a fairly large area, but the advantage is you have the lifestyle of a regional area so it's great.
Q: What are the disadvantages of broking in a regional area?
Volumes are definitely lower in regional areas but that said, sometimes competition can be lower as well. Realistically, there aren't a great deal of disadvantages. Once you get established and build a brand, and you've got the relationships and the networks together, then sometimes a small area where you can get well known is quite a positive thing.
Q: Are there any misconceptions that city brokers have of regional brokers?
That we come here for the lifestyle and we’re not as committed to the business as city brokers might be.
Q: What is the best thing about being a broker?
You're running your own business, you're able to build a residual income, while still providing great value and service to your clients. You build great relationships with great people over time and you genuinely feel like you're helping people.
Q: What do you do in your spare time?
I take advantage of the beautiful area that I live in. I go to the beach, go camping, ride dirt bikes, and get away to go snowboarding and wakeboarding.