By: Jessica Darnbrough
Robust market conditions have led to increased activity for brokers, with a recent poll revealing that nearly half the industry works more than 50 hours a week.
According to The Adviser’s latest weekly straw poll, 45.1 per cent of brokers work more than 10 hours each working day, while just 17.3 per cent work less than eight hours a day.
Smartline broker Ian Simpson, who works on average more than 50 hours each week, said the state of the economy dictates how many hours a broker works.
“When times are good, we are busier, which means we have to work longer hours. I have had weeks where I have worked well over 70 hours. Similarly, I have had weeks where I may work just 38 hours – it all depends on how confident your customers are in the property market," Mr Simpson told The Adviser.
Consolidated Financial Services mortgage broker Alex Shumsky agreed that the number of hours a broker works is directly proportional to the volume of work they have.
Mr Shumsky, who works, on average, 54 plus hours every week, told The Adviser that successful brokers have to put in the time and effort in order to help their business grow and develop.
“The work is very involved, it is not just about writing loans, there is also all the hours you spend marketing your business, engaging customers and chasing up on the progression of a loan,” he said.
"Moreover, most brokers are self employed. And when you work for yourself, it is essential you do all that you can to bring in the money and make your business profitable."
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