[THE ADVISER] New Broker Academy Melbourne
- March 17, 2023
![[THE ADVISER] New Broker Academy Melbourne](https://agents.oxbridge.com.au/wp-content/uploads/2023/03/newbrokeracademy-300x273.png)
Dear Oxbridge Partners and Affiliates,
Oxbridge has been invited to the complimentary The Adviser’s New Broker Academy. The Academy is designed to equip new-to-industry brokers or prospective brokers with the tools needed to THRIVE in their first three years. Sign up at https://www.theadviser.com.au/new-broker
The New Broker Academy has been pivotal in shaping some of Australia’s most successful brokers for seven years!
We’re back in 2023 with a new-look agenda, sampling content from our highest-rated sessions to help you learn all you need to succeed as a broker in Australia.
If you want to set up a lucrative career with uncapped earning potential in 2023, DO NOT miss this opportunity to meet some of Australia’s leading brokers, industry mentors, lenders, and educators while expanding your connections through our breakout sessions.
Learn from the industry specialists who turned into some of the most successful brokers and discover the latest cutting-edge marketing solutions, designed to meet the growing needs and demands for broker services.
That’s not all — we’ll also equip you with the mindset and industry connections needed to succeed in this booming industry.
With more tech tools to employ, more lending products to choose from, and more borrowers to service, now is your opportunity to upskill and hit the ground running.
The one-day, free-to-attend conference will give you tangible strategies that will be the key to your success.
With highly engaging sessions, curated to showcase best practice, and top tools to set you up to succeed from day one, The Adviser’s New Broker Academy is a must-attend event for new brokers.
Register your free place NOW and attend to discover the key to building a successful brokerage.
ABOUT THE MORTGAGE BROKERING BUSINESS
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)
The key to a successful mortgage broking business are the leads. With over 4,100+ online listings and another 1,000 off market listings the Oxbridge Real Estate business provides an excellent source of lead generation.
Working on a typical loan size of $750,000 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%) = $105,000 (upfront) + $67,500 (Trail) = $172,500.
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 Team
