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Ahead of his session at the New Broker Academy, The Successful Adviser founder outlines how new brokers can build successful brokerages from the outset.
Over 75 per cent of Australian borrowers are currently turning to brokers for their mortgage needs. As buyer confidence returns to the market following the RBA’s interest rate cuts in February and May, that number is only expected to rise.
For new brokers, ensuring that their businesses can find, build, and grow with their clientele is key to navigating the influx of activity.
Ahead of his session at New Broker Academy – hosted in partnership with principal partner Bendigo Bank Broker – broker growth strategist and founder of The Successful Adviser, James McCracken, spoke to The Adviser to outline what it takes to get set up for success in the early stages of a broking career.
What makes a successful broker?
“The brokers who succeed over the long term don’t just work harder – they work smarter and with intention. They value their time and set boundaries so others respect it, too,” McCracken told The Adviser.
“They operate with a structure that gives shape to their weeks and keeps the business moving forward.
“Consistently, the highest performing brokers are highly capable at business development or marketing, which ensures they have a constant flow of inquiry.”
A growth mindset is also critical to success, according to McCracken. He said that the most successful brokers “cultivate a mindset of abundance”, trusting that there are enough clients and opportunities for those who do the work.
“They stay resolute, even when things get tough, and focus on fewer high-impact actions rather than being overwhelmed by the noise,” he said.
During his keynote address at New Broker Academy, McCracken will guide brokers on how to adopt and embed these habits early, so they “don’t just stay in the game, they lead it,” he said.
Common pitfalls to avoid
The New Broker Academy, hosted in partnership with principal partner Bendigo Bank Broker, is an unparalleled forum designed to guide prospective and established brokers through this booming time in the industry.
In his exclusive session, McCracken will reveal how brokers can leverage the key behaviours of top performers while avoiding common pitfalls.
One of the mistakes he sees among new brokers is not seeking support when needed, he told The Adviser.
The Successful Adviser founder said that not seeking help can be detrimental to early-stage growth.
“Broking can be stressful, challenging and lonely, and there will always be people willing to help if you are courageous enough to ask,” he said.
Another frequent misstep is taking on the wrong clients in the name of growth – a strategy that can backfire.
“It’s easy to say ‘yes’ to a difficult scenario or difficult client even though it becomes a painful experience and can consume time and energy,” McCracken said.
“If the person smells dodgy in any way, let them go. If they are difficult to deal with, consider charging a DCF fee (difficult client fee), and if the scenario is mission impossible, consider politely saying ‘no’ so you can redirect your focus and energy into areas better served.”
He encouraged brokers to take a ‘quality over quantity’ approach to new clients and business opportunities, leading to more sustainable success in the long run.
Finally, McCracken said that “not educating clients that you’re a word-of-mouth business” is a critical oversight that can hinder business growth.
“In a day and age where brokers are competing against other brokers, not just the banks, referrals are more likely to happen if clients know that’s how you prefer to operate your business,” he said.
“Providing a referral service is paramount, and educating clients to become referrers is imperative.”
How to stay focused on long-term goals
“Having a purpose, plan and structure” is crucial to long-term success in broking.
“Focus starts with having a compelling purpose – or what I call your True North,” McCracken said.
Leading with purpose gives a business direction and meaning, both key components to success.
Once your ‘why’ has been established, developing a plan is key.
“When you have a clear plan that gives shape to that purpose and outlines the key projects and priorities, it makes it easier to move forward,” McCracken said.
The final step to staying on track with long-term goals is structure.
“Your structure – the way you manage your time, workflow, and commitments – ensures you’re effective on a daily basis, not just busy,” McCracken said.
“At New Broker Academy, I’ll show you how to integrate purpose, planning, and structure so you can build real momentum and make consistent progress in your business.”
To hear more from James McCracken on how to build the roadmap to business success, come along to New Broker Academy.
The New Broker Academy 2025 is a free-to-attend conference offering new and established brokers the latest insights needed to build a successful broking career.
Don’t miss the chance to set yourself up for success – click here to register now.
The New Broker Academy 2025 will take place in the following locations:
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Tuesday, 17 June 2025 at Brisbane Watersedge, Brisbane.
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Thursday, 19 June 2025 at Le Montage, Sydney.
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Thursday, 26 June 2025 at Sofitel Melbourne on Collins, Melbourne.
For more information about the conference, including agenda and speakers, click here.
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