From selling investment properties to securing mortgages, brokerage director shares story of her journey into the industry
More than 20 years ago, Danielle Ridley (pictured above) worked in an investment real estate business, where she was involved in selling investment properties to clients. Sometime in 2001, her employer launched a broking arm, leading her to delve into the world of finance.
“I actually enjoyed the finance aspect more than the investment sales,” Ridley said. “I made the decision to focus on finance and joined a finance company working with some high achievers and seasoned professionals who taught me all that they knew.”
Eventually, the company she worked for was sold to a large corporation, leading to a shift in the company culture.
“My bosses were leaving, so I took the plunge and opened my own finance company, Mortgage Finesse, in 2009,” she said. “This gave me the flexibility I needed for our three little children while fulfilling my long-term dream of running my own business.
“We started out with a desk in the front entrance of my home, and after three more office moves, we have finally settled beachside in Edithvale. Here, we can achieve some work-life balance, and stay reasonably central for many of our clients.”
Long-term client relationships: a source of fulfillment
Ridley’s career is marked by numerous memorable and challenging experiences. However, she is happiest in the long-term relationships she has built with her clients.
“Having clients who have allowed me to assist them on their finance journey for the last 15 to 20 years are always met with so much gratitude from me,” she said.
Ridley cherishes the opportunity to grow older alongside her clients, watching their families grow, and now assisting the next generation.
“I love essentially growing older with my clients, our kids all grow older together, and now I am dealing with the children I met 20 years ago for their first home,” she said. “It’s just wonderful and so humbling.”
Embracing digital transformation
Reflecting on the positive developments in the mortgage broking industry, Ridley highlights the significant impact of digital documentation and processes.
“Digital documentation and processes have definitely been a massive move forward for the industry,” she said. “It has made a large percentage of transactions much more seamless and more efficient for the clients and the industry.”
Navigating current industry challenges
Despite these advancements, Ridley pointed out that the industry still faces significant challenges, particularly regarding servicing issues.
“The issue of servicing is still a major factor since the rates have increased and the buffer is causing so many clients to have no ability to move forward with their financial goals or merely refinance to another lender,” she said.
Her proposed solution is to reduce the buffer to 2% for all lenders, which she believes would unlock more opportunities for clients.
Advice for aspiring brokers
For those aspiring to become brokers or new to the field, Ridley offers invaluable advice.
“Work hard and don’t take a retainer,” she said. “Working for commission only will always make you so much more money in the long term.”
Emphasising the importance of proactive client acquisition, she also advises new brokers to never sit back and wait for clients to walk in.
“Go out and find them,” Ridley said. “It’ll be difficult for the first few years, but then if you persevere and work hard for your clients, your business will grow well.”
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