New to the industry

Experienced brokers will recall some of the challenges they themselves faced as rookies – competing for commissions, or trying to learn industry jargon and policies. They will also remember the thrill of writing their first loan and learning new aspects of the financial services industry.

Over the next six months, we will follow the progress of two new brokers as they tell us first-hand what it’s like to be a newbie in the industry in 2013.

Last time, we interviewed Renee Ashelford of Loan Market Group. This month we talk to Alisa Blair of Iconic Home Loans in Osborne Park, WA. Having moved from the banking industry, Alisa is a talented and focused new broker with a bright future ahead. She reveals what made her decide to move into broking, how she did it and what she thinks of her new career path.

How long have you been in the mortgage broking industry?

I started in August last year, so it’s been about eight months now.

What were you doing before then?

Previously, I was working for ANZ for five years, in the business and corporate banking sector. Then before that, I was in accounting. I really enjoyed business banking. I was specialising in property development and construction, so I really enjoyed that.

What made you want to become a mortgage broker?

I needed a change, so I took a couple of months off to figure out exactly what I wanted to do. Mortgage broking ticked all the boxes and used all my skills – and I have a passion for finance and property, so it was the perfect industry for me.

What are you hoping to achieve in your new career?

I would eventually like to become one of the top 100 brokers, so my goal is to work towards that status.

What are the things you are most concerned about in your new career?

I guess time management is a big one. It’s important for me to try and manage my client’s expectations as well as my own. Finding my own leads can also be very challenging, so I hope to get better at sourcing them.
Another one is learning all the banks’ policies. Each bank is completely different, and they’ve all got their own unique little situations. So learning policy is a big one that is quite challenging to understand – you need to overcome that.
There are always new challenges, so it’s just trying to go through [them] one at a time and work on that one, improve your skills and move on to the next one.

What did you know about mortgage broking before deciding on this industry as a career?

I dealt with a lot of mortgage brokers in the commercial sector, so I really dealt with people looking at doing large developments and I hadn’t really thought about individual mortgages for first home buyers. I knew a little bit because I worked in business banking, but [for a] majority of the time I’ve been working in Melbourne. I moved to Perth about two years ago, and there is a much higher percentage of mortgage broking [activity] here than there is in Melbourne.

How difficult was it to get started?

I didn’t find it too difficult. All you have to do is the diploma in finance and mortgage broking. However, you need to have a lot of collateral or a lot of savings behind you. It does take a good six months to start making your first sales. Just waiting for that first commission to come through is the most difficult part.

What do you enjoy about working for Iconic Home Loans?

The people that I work with are really great and helpful. We get a lot of leads given to us and the training has been really fast. I get along with them, and it’s been a real joy getting to work with people that are willing to help out.

What are you looking forward to, career-wise?

I’m looking forward to reaching the personal goals and targets that I’ve got set for myself. I’m looking forward to exceeding my expectations. I’d eventually like to try and learn how to get my own leads. Getting out to the community and making a name for myself, and for people to know that I’m trustworthy. I want people to know that they can come to me for financial advice.

If you weren’t in mortgage broking, what would you be doing instead?

I would probably still be working in banking.