Former panel beater is now a proud owner of a Mortgage Choice franchise
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 Daniel Bowler (pictured above), who began his professional journey in a place far removed from finance: as a panel beater in Kalgoorlie, Western Australia. He is now an established mortgage broker and proud owner of a Mortgage Choice franchise.
Full name: Daniel Bowler
Job title: Mortgage broker
Company: Mortgage Choice
Number of years in the industry: 19
Location: Subiaco, Perth
How and when did you become a mortgage broker?
I left school halfway through year 11 as a 16-year-old to start my apprenticeship as a panel beater. In my last year as a panel beater (my seventh year), I completed a Cert IV in Business and Small Business studies as I knew the world of business was where I wanted to be.
My older brother was working in the NAB business banking sector at the time and was asked by my soon-to-be boss, Ian Dunstan, if he wanted to come work with him as a mortgage broker. He wasn’t keen on a commission-based job, so he declined the offer, but mentioned his younger brother was interested in this line of work.
I got the call from Ian and went in for the interview during one of my lunch breaks (work overalls and all). I got offered the job there and then, and I started four weeks later.
In your opinion, what has been the most positive development in broking?
It’s customer awareness. When I started 19 years ago, the first five minutes of every interview would include me explaining what a mortgage broker was and how we get paid. The industry has expanded to become, quite easily, the main access point for finance.
What challenges do you see currently facing the industry, and what solutions would you propose?
The main challenge is bank’s online-only home loans. One bank, in particular, (a major bank) really push their online-only home loan and, in some cases, have been known to offer broking customers the option to refinance across to that product.
The easy solution to this issue would be to allow brokers to write those same products, but we know that won’t happen as they were introduced for the sole purpose of cutting the broker out.
Can you share a challenging experience from your career as a broker and the lessons you gained from it?
Burnout is real. I worked 12-hour days, seven days a week for the first five years while building my business. I took holidays, but the phone and laptop always came with me, so I never really switched off. After those five years, I lost all motivation and drive to work hard. It took me a good couple of years before the motivation came back.
Since then, I’ve ensured I switch off properly at least once every 18 to 24 months. That involves assigning my emails to my personal assistant and having a voicemail advising of my time away from the office. It’s so important to avoid that burnout.
Could you share any valuable advice for individuals aspiring to become brokers or those new to broking?
To become a successful broker, you need to be aware it will take a good three to five years of long, hard work (while taking those holidays of course). Those early years are the hardest, and you need to be a true salesman. If you’re not willing to put in those hard yards, then you’re not going to be a successful broker.
Broker in Focus is a weekly MPA feature spotlighting mortgage brokers from diverse firms and locations across Australia. Among those recently featured are Scott Wills of Mortgage Choice, Camilla Lewis of Derwent Finance, Harrison Brown of Aussie, Anthony Bloom of My Mortgage Partner, and Daniel Valente of WE Mortgage Solutions.
Are you a mortgage broker interested in being featured? Email the author with your details.
