[MFAA] The New Commercial Broker Workshop Perth

  • September 6, 2024
When:
October 17, 2024 @ 8:30 am – 2:00 pm Australia/Sydney Timezone
2024-10-17T08:30:00+11:00
2024-10-17T14:00:00+11:00

Dear Oxbridge Partners and Affiliates,

Facilitated by Dave McCleery, MCP Financial Services and Todd O’Neill from Xenium Finance, our New Commercial Broker workshop will help you gain the confidence to write your first commercial loans.

You’ll receive a comprehensive understanding of commercial broking in our one-day course, with a range of topics designed to set you up for success.

Event Details

Date and Time: Thursday 17 October. 2024
Venue: Great Eastern Highway, Burswood WA Time: 8.30am – 3.30pm

Learning outcomes:

The Commercial and Asset Finance Ecosystem – understanding the Players, the Products, the Policies, the Pricing and Payments in the sector.

Guiding principles and risk identification when obtaining credit – the five C’s of credit in a commercial and asset finance context.

Understanding business performance – Case Studies – understanding credit conduct and worthiness, serviceability tests and measures, asset and liability positions.

 

The lender lens – understanding what lenders want and need, producing quality commercial loan submissions.

Strategies and tips to operate successfully as a commercial and asset finance broker – finding clients, creating referral relationships and mandates for commercial and asset finance broking.

You’ll get practical advice to hit the ground running from brokers and lenders, providing real experiences and case studies to reinforce key competency areas. This will support you to ensure your clients receive a positive experience from the get-go.

Presenters

 Dave McCleery

Co-founder MCP Group

Dave is the co-founder of MCP Group (“MCP”). His initial experience as a chartered accountant with Ernst & Young gave him insights into business enterprises of differing size and industry.

He then dedicated his career to the Finance Industry with the formation of MCP with business partner, and lawyer, Michael Poynter, building a team focusing on helping small business and individual clients. MCP now has multiple offices.

 Todd O’Neill

Managing Director, Xenium Finance

Co-facilitating the workshop will be Todd O’Neill of Xenium Finance. Todd has over twenty years’ experience in commercial lending and in direct training and coaching of brokers.

 

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

 

    Leave Your Comment Here

    close chatgpt icon
    ChatGPT

    Enter your request.

    Help-Desk