What top brokers look for in new recruits

As part of our annual Young Guns report, MPA heard from three leading brokerages on what they look for in a new broker before they join the team.

Mark Kalajzich
Director, Australian Credit and Finance

Of our 90 brokers nationally, greater than 50% were either ‘new to industry’ or ‘recent to industry’. Generally these are high-quality people from both an attitude and intent perspective but just haven’t been able to generate a sustaining lead source and customer base. 

I hear a lot of people talk about bringing new talent to the industry, and by default they start talking about bringing in youth. But generalising in recruitment is a dangerous trait. Some of the most energetic people in our business are in their ‘50s  and ‘60s. 

Quite often we will receive a CV from an individual who has been in the industry about 18 months. They set out to build their own business but found it harder than they expected … this opportunity has brought us brokers who have gone on to settle in excess of $40m in their first year with us. And yes, they all had something in common: great ethical humans; excellent attitude; and genuine desire for success in the broking industry. 

Australian Credit and Finance is one of the fastest-growing brokerages in Australia, and winner of several Connective awards.  

Ren Wong
Managing director, n1 Finance & Lease 

1  Commitment: Without commitment a broker couldn’t sustain the initial dip and would lose confidence or patience to continue in their career. We all know most people wouldn’t have their first loan in the first month; even if they do, it will take at least six weeks to settle if lucky, then you only see the commission the following month. Hence we run by the salary PAYG model at n1.

2  No prior experience in broking: At n1 we definitely welcome experienced brokers joining us, but we do find fresh candidates without prior experience don’t carry over bad habits.

3  Technology-literate: When I recruit I stress very much the receptiveness to technology, from having the good habit of using CRM to log everything, to doing research via the internet … I can’t imagine a person working in our office not having a tech mindset; we always strive to be a tech-based or fintech-based brokerage firm. 

n1 Finance & Lease is one of MPA’s Top 10 Independent Brokerages 2015 and launched the first Chinese-language comparison site for Australian finance.

Lynda Harris
General Manager People and Culture, Aussie Home Loans

1  Customer focus: We can train our new brokers in the technical skills of finance, but you can’t teach the innate desire to help others and provide an unbeatable service.

2  Emotional intelligence: We’re not just looking for people with the highest IQs (though of course we look for business intelligence); we’re really looking for people with the highest EQs – emotional intelligence … tertiary qualifications are an advantage, but more so because they demonstrate a successful track record of starting and finishing something, and having to plan and organising their time while doing so. 

3  Self-discipline and willingness to learn: We look for people who have a genuine drive, passion and desire to come on board wanting to build their own business; people who want direct reward for the efforts they put in and who have a commitment to make it happen for themselves. Part of this is having a willingness to listen and learn, and take advantage of Aussie’s training and support. 

Aussie Home Loans is one of Australia’s biggest franchises and trainer of new brokers.