[FBAA] COFFEE MEET – BRISBANE SOUTH
- September 6, 2024
Dear Oxbridge Partners and Affiliates,
Join us for an exclusive coffee meet-up designed for FBAA industry professionals!
Connect with your local FBAA QLD State President, Scott Beattie, along with our sponsors Shift and Funding, and hear from speakers Debbie Hutchings from REFS and Nabilah Kennedy of BD Professional Mortgages.
WHERE: Extraction Coffee – 7/3375 Pacific Hwy, Slacks Creek, QLD. 4127.
WHEN: 01 October 2024 (10am – 12pm)
COST: Free
CATERING: Morning tea & coffee provided.
Debbie Hutchings, Director, and Mentor at REFS Australia Group, brings 30 years of finance experience, focusing on supporting mortgage brokers in building a successful sales culture into their business. Passionate about mentoring, Debbie helps Mortgage brokers in their first 2-years, including bankers transition to brokers and guides existing brokers with education and sales-based strategies. In her session, she’ll also touch on “The Matter of Mentoring” and how we can better support the next generation of mortgage brokers. Learn from her expertise in developing professional relationships and enhancing business performance through proactive Mentoring and training with REFS Australia.
BD Professional Mortgages, led by Nabilah Kennedy, specialises in home loans for doctors, dentists, and vets. With years of experience and a passion for making the home loan journey seamless, Nabilah has built a reputation as a dedicated and knowledgeable mortgage broker. Learn from her insights on how to streamline the loan process and manage client expectations effectively.
This event is completely free, thanks to our generous sponsors Shift & Funding.
2 CPD hours for attending. Registrations are now shut but if you would like to go, please email ihorswell@fbaa.com.au.
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 4,500+ online listings and another 1,000 off market listings the Oxbridge Real Estate business side provides an excellent source of lead generation
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 (e.g. Aussie is owned by Lendi which is owned by numerous shareholders including CBA, 1835i (ANZ’s external venture capital partner) and Macquarie Bank, RAMS is owned by Westpac, REA owns Mortgage Choice etc)
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
