"It takes a lot of dedication to become a top broker"
Broker in Focus is a dedicated series that highlights the unique journeys of mortgage brokers, providing them with a platform to share their experiences, insights, and expertise. Through compelling personal stories and professional reflections, each featured broker recounts the key moments that have shaped their careers, delves into the challenges and opportunities facing the industry today, and shares the valuable wisdom they have gained along the way.
MPA recently interviewed Camilla Lewis (pictured above), who in just three years, has gone from a former lending specialist to a successful mortgage broker at Derwent Finance.
Full name: Camilla Lewis
Job title: Mortgage broker
Company: Derwent Finance
Number of years in the industry: Six years
Location: Hobart, Tasmania
How and when did you become a mortgage broker?
I became a mortgage broker about three years ago. I previously worked as a lending specialist across several financial institutions for a few years but decided to make a change and jump into the world of mortgage broking. I didn’t know much about being a broker at the time, but I love a challenge and wanted to learn something new.
I was speaking with one of my old high school teachers, who asked what I now do for work. At the time I was looking for a new job, and he put me in touch with someone who had a broking business. This was my first introduction to mortgage broking. I spent the next 12 months studying, completing my diploma of finance and mortgage broking management.
Once I had finished my studies, I was straight into it! I had about five deals in my first week, which was quite scary, despite my background in lending. There were so many new policies, guidelines, and systems, I thought I was in way over my head! But sure enough, I picked it up pretty quickly, and have never looked back.
In your opinion, what has been the most positive development in broking?
From what I’ve seen in the broking world, the best change is the way we provide services to our clients. Allowing for our loan interviews to be conducted over Zoom calls or over the phone. Having automated systems where you can obtain client information, send emails and correspondence, as well as keep track of your loans in progress has really streamlined the process for my clients.
Providing excellent customer service is one of the key points in having a decent size loan book. Having a system that is easy to follow really makes things easier, as you can spend more time focusing on the important things, rather than half your day being spent on data entry or switching between systems just to process a deal.
What challenges do you see currently facing the industry, and what solutions would you propose?
The challenges I see currently impacting this industry, as well as others, is the current cost-of-living crisis. There are so many people out there struggling to afford day-to-day basics, let alone afford their mortgage. And with no real changes on the horizon, more and more people are going into hardship, and I can only expect this number to keep rising.
Being able to navigate this crazy world we’re all living in currently isn’t as easy as what we all thought, and the impact it’s had on my clients, as well as other brokers is quite significant.
Can you share a memorable or challenging experience from your career as a broker and the lessons you gained from it?
One of the most memorable experiences I’ve had since becoming a broker is quite personal. I’m sure every broker has had those weeks where your submission count is low, deals are lagging, things aren’t going the way you had planned.
A few weeks ago, this was 100% my mind frame. I had a rough week and honestly didn’t think it would change. It wasn’t until that Sunday evening, after I reflected on my week where I sat down and wrote a massive list of all the things I wanted to tick off my list but hadn’t. I then spent the entire weekend hustling business, chasing up paperwork, smashing out everything that I missed earlier on.
By Sunday night, I again reflected on my overall week, and seeing just how much those extra two days changed my entire weeks’ results, I felt extremely proud of myself. It was a game-changer, spending time reflecting on your week, and putting those extra few hard yards in can ultimately be the difference between failure and success.
Could you share any valuable advice for individuals aspiring to become brokers or those new to broking?
Don’t expect results straight away. Mortgage broking is hard, it’s draining; you’ll have days that really get you down if you lose a deal, or if your client goes elsewhere. Speaking from personal experience, don’t expect to make money in your first few months either. It takes a solid 12-plus months to really ground yourself, start building your network, your client base and start getting referrals.
Many nights I spent thinking to myself, “Why on earth did I make this decision, I can’t do it.” It felt like rock bottom. I had hardly any income, I was working ridiculous hours, never had a weekend, and it all felt like it was for nothing.
But a good broker doesn’t evolve overnight, it takes time, experience and most importantly the drive to succeed and be successful. If you really want to be a top broker, you need to accept that you’ll face challenges, hit roadblocks, and be pushed to your limit. But persevere because the reward at the end is absolutely worth it. It takes a lot of dedication to become a top broker, it certainly isn’t for everyone. But if you’re determined, you will get there.
Broker in Focus is a weekly MPA feature spotlighting mortgage brokers from diverse firms and locations across Australia. Among those recently featured are Harrison Brown of Aussie, Anthony Bloom of My Mortgage Partner, Daniel Valente of WE Mortgage Solutions, Brett Sutton of Two Red Shoes Mortgage Brokers, and David Linco of Davlin Mortgages.
Are you a mortgage broker interested in being featured? Email the author with your details.
