Broker in focus: Scott Stevenson, Mortgage Choice

Can you share a memorable or challenging experience from your career as a broker and the lessons you gained from it?

Challenges are of varying nature and constant. The industry is constantly changing, so it is important to be able to adapt to changes. A memorable challenge that comes to mind is, as a result of the Banking Royal Commission, that home loan applicants had to disclose their personal budget and living expenses, which brokers had to verify. This was a new process for consumers and brokers, but in hindsight this change ultimately benefited the consumer.

In my experience, the best way for brokers to overcome challenges is to be well educated and to be open and transparent when communicating with clients and lenders. I believe that as long as I do the right thing by my clients, everything will be okay.

Can you share valuable advice for individuals who want to become brokers or those who are new to brokering?

The most important piece of advice I would give to anyone thinking of becoming a broker would be to make sure you have money set aside, especially if you are switching from a pay-as-you-go job to being self-employed because you switching from a monthly job. salary to run your own business can be difficult.

The second thing I would say is don’t be afraid of change or technology, embrace them because they will make your process more efficient and help you better support your customers. Life is short, so if you feel a calling to become a mortgage broker, follow your heart.

Mortgage brokering can be an extremely rewarding career and no two days are the same. My advice to all new brokers is to work hard, find time to celebrate the wins and keep working hard so you can find long term success.