[Broker] Fairfield City Council & Oxbridge Become A Finance Broker
- September 6, 2024
![[Broker] Fairfield City Council & Oxbridge Become A Finance Broker](https://agents.oxbridge.com.au/wp-content/uploads/2024/09/fairfield-300x147.png)
Dear Oxbridge Partners and Affiliates,
Oxbridge is proud to co-sponsor an event with Fairfield City Council. Ready to kickstart a lucrative career in finance? Join our hands-on Interactive Finance Broker Workshop, where you’ll learn the essential skills to succeed in the world of finance brokering! This immersive experience will equip you with the knowledge and tools to connect clients with financial solutions, navigate the industry, and grow your own business.
Whether you’re starting fresh or looking to enhance your expertise, this workshop offers practical guidance, expert insights, and real-world applications. Don’t miss the chance to build a rewarding career!
EVENT DETAILS:
WHEN: Wednesday October 16th, 2024 6pm-7.30pm
WHERE: Fairfield City HQ 17 Kenyon Street Fairfield, NSW 2165
REGISTRATION: https://www.eventbrite.com.au/e/become-a-finance-broker-tickets-1027789184117?aff=ebdssbdestsearch
Your Speaker: George Nicolas | Next Step NSW
George Nicolas has owned and operated his own professional financial services business for over 17 years, in recent years George has expanded into providing management-consulting services to small and medium businesses.
With experience across many different industries, George has helped numerous start-ups flourish into successful businesses.
Focusing on south-west Sydney George spends most of his time working with local business owners to navigate the constantly changing demands of the work environment. George plays an active role in supporting his community through various volunteer programs designed to help those in most need.
ABOUT THE MORTGAGE BROKERING BUSINESS
Mortgage Brokering is a phenomenal industry that offers truly passive income and the ability to build your book. The average income of mortgage brokers at Oxbridge is an impressive $188,046 (https://www.brokernews.com.au/news/breaking-news/how-much-do-australian-mortgage-brokers-earn-280893.aspx) whilst top brokers can earn over $2m a year often in passive income (https://www.afr.com/companies/financial-services/inside-the-unstoppable-rise-of-australia-s-mortgage-brokers-20240524-p5jg8b). The best thing about finance brokering is the TRUE PASSIVE INCOME. Oxbridge Training (www.oxbridge.training) offers individuals to obtain their certificate and diploma in mortgage brokering in a short amount of time. Very few professionals are qualified in both real estate and mortgage brokering. The key to a successful mortgage broking business are the leads. With over 5,500+ listings Oxbridge provides an excellent source of lead generation for our brokers so much so we are TOO many leads and not enough brokers.
Although the details around when and how brokers receive commission varies from lender to lender, generally speaking: Upfront commission: 0.65% (+GST) to 0.85% (+GST)
The upfront commission is the largest component of the commission. The broker receives this once your loan settles. Trail commission is what the broker receives every month for the life of the loan. Usually, this trail is set at 0.15%-0.40% per annum based on the remaining loan amount each year. To be clear, mortgage brokers don’t work for the banks, although there are some mortgage brokerages that are partly-owned by banks and larger lenders. Oxbridge is always 100% independent.
Working on a typical loan size of $850,000 and writing 20 loans in the first year. The commission received by the broker would be
$750,000 (20 x 0.70% + 20* 0.45%) = $119,000 (upfront) + $76,500 (Trail) = $195,500
Top brokers in Australia (See https://www.mpamag.com/au/best-in-mortgage/top-100-brokers-2022/429801) receive well in excess each year of $3M upfront commission and at least 3x that in terms of trail commissions for the life of the loan. Several Oxbridge brokers are doing exceptionally well earning 6 figure income. Some Oxbridge members are dual qualified in mortgage brokering and real estate which is a huge competitive advantage in the market place. Trail commission is really true passive income
The Oxbridge Finance Team
