There’s been a subtle paradigm shift in the mortgage broking industry in recent years. More and more brokers are embracing the idea of being a broker AND a business owner. It’s no longer about being a one-man-band. Instead, it’s all about structure and substance – building a team and growing a business. 

Anthony Landahl of Equilibria Finance sat down with me for this episode of The Successful Adviser. 

We discussed how brokers can best equip themselves and their businesses for this ongoing transition. Brand-building, hiring, systemising… There are many practical insights for the industry leaders of tomorrow.

The Key Questions:

• Why is it crucial to define your business’ value proposition? (7:52)
• How can you think of your business as an asset? (14:32)
• What is the key to growing a mortgage broking business? (19:23)
• What’s the best way to incorporate automation tools? (21:18) 

What You’ll Discover:

• How Anthony capitalised on his business management background as a broker (2:17)
• The roadblocks Anthony faced in getting his mortgage broking business off the ground (6:37)
• The ongoing paradigm shift within the mortgage broking industry (15:53)
• How Equilibria Finance’s systems and processes evolved over time (18:11)

Should you earn 90% commission as an independent broker or base salary + 40% as a PAYG broker? The numbers might suggest that the answer is obvious. 

However, just like loans, there are different scenarios and different wants and needs that might influence what is the right structure for each person.  

Being an employed broker can be a fantastic opportunity to build a long-term career, build confidence, and be well paid by doing the technical aspects of the role that most brokers seem to enjoy.  

Craig Vaughan, the co-founder of BrokerEngine, joins me for this episode of The Successful Adviser. We discuss nuances of the skills that brokers need to succeed and we explore how to find the right balance between personal aspiration and professional capacity.

The Key Questions:

• Should you try to convert friends and family into clients? (9:02)
• How do you identify your niche? (9:54)
• How can brokers prioritise effectively? (20:43)
• How do brokers find the right balance between being a broker and a business owner? (25:02)

What You’ll Discover:

• The cost-benefit analysis of being an employed broker vs. an independent broker (7:27)
• How Craig got into software development for mortgage brokers (12:18)
• The challenges Craig faced in hiring and managing other brokers (23:37)
• Craig’s two software recommendations for brokers (26:54)