Mortgage Choice franchise owner Belinda Sugars has spent 20 years weathering the thick and thin of the mortgage business but has always kept the community spirit high
Mortgage broking has been a hugely rewarding career for Belinda Sugars, a Mortgage Choice franchise owner-manager based in Parkside, Adelaide.
Her 20 years in the business have been littered with commendations, from being named South Australian Rookie of the Year way back in the early 2000s to winning the Franchise Council of Australia’s national
Franchise Woman of the Year title in the mid-2000s, to recently nabbing a Community Champion Award at the MFAA Excellence Awards for supporting the women’s homelessness charity Catherine House.
Perhaps most rewarding of all, Sugars beams with pride at how her two decades of hard graft have enabled her to support her family through thick and thin.
But as with any storied career, there has been no shortage of crises either.
Weathering the storm
Talk to any broker in the business and the spectre of the 2018 royal commission into banking still looms large.
It’s no different for Sugars. “During the banking royal commission, there was a lot of negativity directed at the broking industry, which called into question the value we provide,” she tells MPA.
Looking back, Sugars reflects that the most challenging periods in her career have resulted from events “that were out of my control”. The industry had barely caught its breath from the royal commission before the COVID-19 pandemic caused upheaval across the globe at the turn of the decade, followed immediately by a cost of living crisis and soaring interest rates.
To put it lightly, it hasn’t been an easy seven years, but in Sugars’ view, the broking industry has shown unwavering fortitude in the face of these challenges.
“Thankfully, the industry is in a much stronger position because of those challenging times, and broker market share has since climbed to a record high, demon- strating how much consumers value our advice,” she says.
Regulation has been key to the third party channel’s resilience throughout these testing times, reckons Sugars.
“The changes to regulation have lifted the standard and professionalism across the industry. I was very passionate about our industry being seen in the right light and respected for the work we do to help clients. “While the increase in regulatory obligations can feel stringent, it helps us better understand our customers and strengthens our relationship with them.”
Helping the community
In 2007, when Sugars was still finding her feet in the mortgage industry, she started a networking group for women in business. As part of this initiative, the group sought out a local charity to support, which led them to Catherine House. Eighteen years later, Sugars remains as committed to the cause as ever, with her support for the charity even leading to meetings with the Governor of South Australia at Government House – “somewhere I never imagined I would be invited to”.
Sugars’ passion for the community is reflected in the work she does with clients of her Parkside brokerage.
“For me the best thing about this job is being able to help people from all walks of life, especially those who thought they’d never be able to own a home,” she says, adding: “Hearing my sons tell me that they are proud of me fills me with joy.”
Outlook for Adelaide
Sugars observes an ongoing short supply of housing and land in the SA capital, “which will likely continue to push up home values this year”.
She is also seeing “significant” delays in construction finance due to infrastructure issues in the northern suburbs and a shortage of skilled tradespeople and materials.
Yet demand is also expected to keep climbing. “With so many buyers being priced out of Sydney and Melbourne, I think we’ll see more of them look to Adelaide for their first or next property purchase.
“I am biased, of course, but Adelaide is a wonderful place to live, with our beautiful beaches and a wine region that is the envy of many around the world.”
As for her brokerage, Sugars is expecting another busy year as “we help first home buyers navigate the complexity in this market”.
