[FBAA] FBAA COFFEE MEET – MELBOURNE
- September 6, 2023
Dear Oxbridge Partners and Affiliates,
Join us for an exclusive coffee meet-up designed for FBAA industry professionals!
Connect with your FBAA VIC State President, Marios Rokka, and State Councillor, Nathan Taddeo, alongside our esteemed sponsors, MA Money and Acumentis.
MA Money will introduce their unique offerings as a lender, highlighting the diverse niches they serve
and providing insights that you may not have encountered before.
Acumentis will offer a fresh perspective on the Victorian property market from a valuer’s standpoint,
discussing their approach to valuations, key considerations, and more.
This event is a fantastic opportunity to gain valuable insights and network with industry leaders.
Best of all, it’s completely free, thanks to the generous support of MA Money and Acumentis.
This is event is completely free, thanks to our generous sponsors
MA Money & Acumentis.
Plus, you get 1.5 CPD points just by attending. Register now as numbers are limited.
WHERE: CreativeCubes.Co – 88 Langridge St, Collingwood VIC 3066
WHEN: 18 July, 2024 (10.00am – 11.30am)
COST: Free
CATERING: Morning tea + coffee provided.
4 CPD Hours (*subject to attendance)
RSVP: Register at: https://fbaaevents.eventsair.com/fbaa-coffee-meet—melbourne—18-july-2024/fbaacoffeemeet/Site/Register
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://au.finance.yahoo.com/news/cba-apos-top-200-mortgage-191804595.html). 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
