Two mortgage brokers are running for the parliamentary seat of Burt in WA, with broker remuneration and the local economy front of mind.
Westate Finance broker David Goode is running as a candidate for the south-eastern Perth electorate of Burt in the upcoming federal election.
Mr Goode, who is representing the Liberal Party, is contesting the seat against fellow broker and Western Australia Party candidate Sarcha Sagisaka, who spoke to The Adviser about her candidacy earlier this week.
Like Ms Sagisaka, Mr Goode is actively opposing changes to broker remuneration as part of his campaign and has endorsed his party’s proposal to retain the ‘status quo’.
“I am firmly in favour of leaving the existing system for commissions as it is,” he told The Adviser.
“Our industry bodies such as the MFAA and the FBAA are doing a brilliant job in representing brokers across Australia and I will continue to support them.”
However, in contrast to Ms Sagisaka, Mr Goode has supported the Coalition’s decision to hold a Treasury-led review of broker commissions in 2022.
“This is an excellent outcome for brokers, and I agree with this review as it will allow all parties to express their views,” he said.
“I will argue that research has already been done that shows the existing system works well.”
Mr Goode has been a long-serving member of the Liberal Party and previously ran for State parliament in the electorate of Gosnells in 2013.
The broker also currently serves as a Councillor at the City of Gosnells and has held the local government position since October 2013.
The Liberal candidate said that should he be unsuccessful in winning the seat in the upcoming election, he would continue his work as a mortgage broker but noted that he would continue campaigning against reforms that would undermine the broking industry.
“I know that a Shorten Labor government would enact reckless reforms that would devastate the mortgage broking industry and the over 44,000 Australians that it directly involves,” he said.
“I have been involved in finance for over 40 years and have always enjoyed helping people achieve their financial goals.”
In the mean time, Mr Goode is actively campaigning to garner the support of his electorate, noting his commitment to delivering better outcomes for the local community.
“My main message to the electorate of Burt is this: we need to stay the course in building a stronger economy both nationally and locally, to ensure that Burt residents have the best possible opportunity to get ahead,” he said.
“The Morrison Liberal government has worked hard to get our national budget back into the black, which means that we can do more here in Burt, like investing record amounts in schools and hospitals and building the economy-boosting, congestion-busting infrastructure that we all rely on.
“Locally, I am also a passionate advocate for creating more local job opportunities and tackling crime in our community.”
He concluded: “Should I be elected to the Parliament; I would be a strong and proactive voice in Canberra on these issues.”
The seat of Burt is currently held by Labor MP Matt Keogh.
The Labor Party has proposed a ban on trailing commissions from 1 July 2020, and has called for the introduction of a fixed upfront commission, capped at 1.1 per cent.
[Related: Broker enters race for parliamentary seat]
Charbel Kadib is the news editor on The Adviser and Mortgage Business.
Before joining the team in 2017, Charbel completed internships with public relations agency Fifty Acres, and the Department of Communications and the Arts.
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