Ten Surefire Ways to Fail as a Mortgage Broker
Being a mortgage broker in Australia can be a rewarding career, but it's also easy to stumble if you're not careful.
Here's a tongue-in-cheek guide on how to guarantee failure in the industry:
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Ignore compliance completely
Why bother with all those pesky ASIC guidelines and responsible lending laws?
Surely, the National Consumer Credit Protection Act is just a suggestion, right?
Ignoring these will definitely fast-track your exit from the industry.
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Work in complete isolation
Who needs a network?
Avoid building relationships with lender BDMs, real estate agents, or anyone else in the property industry.
After all, you know everything already!
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Stop learning after your initial qualifications
Once you've got your certificate IV, you're set for life.
There's absolutely no need to keep up with lender policy or new loan products.
The mortgage industry never changes, does it?
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Stick to pen and paper
CRM software? Digital tools? Nonsense!
Your trusty notebook, fax and landline phone are all you need.
Clients love waiting days for you to find their information.