After graduating and spending a year working in finance, he decided to pursue a full-time career as a mortgage 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 caught up with Harrison Brown, a young professional looking to bring fresh perspectives to mortgage broking in Australia.
Full name: Harrison Jacob Brown
Job title: Mobile mortgage broker
Company: Aussie
Number of years in the industry: Less than a year as a mortgage broker
Location: Mermaid Beach, Gold Coast, Australia
How and when did you become a mortgage broker?
While I was still in university (completing my undergraduate degree in economics and finance at the University of Michigan in the US), I was home in Brisbane during COVID as schools across the US went completely remote.
I had a lot of spare time and decided to pursue a role in finance, this is when I came across Aussie. I went through a series of interviews with them and ultimately ended up becoming an admin in the West End store for Ersoy & Angela Mehmet (franchisees at the time). During this time, I got to see the entire home loan process working there for the second half of 2020.
I then returned to the US to pursue my MBA, graduating in 2023, then working in NYC for a year in finance before returning home in June this year. That is when I decided I wanted to pursue becoming a full-time mortgage broker, starting with Aussie as a mobile mortgage broker on July 1, 2024. Since then, I have been speaking with people across the country assisting them with the home loan process and loving it since.
In your opinion, what has been the most positive development in broking?
The most positive development came from COVID as the industry went almost completely paperless. We can now go through the entire loan process from start to finish without any face-to-face interaction, meaning more efficiency and getting your loan faster, especially when considering finance clauses.
What challenges do you see currently facing the industry, and what solutions would you propose?
The biggest challenge for brokers in the industry is having to say no to people when their borrowing capacity isn’t at the level of the home purchase price they are interested in. This is mainly due to the high cost of living and high interest rates that are affecting people’s eligibility for higher borrowing capacities which we have seen in recent years during times of lower rates.
I am optimistic that RBA will lower rates following news from Canada and Europe (ECB) lowering theirs recently. This will significantly help borrowers’ capacities to get into the homes they dream of.
Can you share a memorable or challenging experience from your career as a broker and the lessons you gained from it?
During my time working as admin for the West End office, I was juggling multiple responsibilities with both university study and working from 9am to 6pm each day in the office. Especially being so new to the industry and needing to learn a lot of processes, it was challenging being thrown into the deep end with people’s mortgages and financing on the line.
In addition, having to put time into my studies in the evenings even if I was worried about a client’s application progress, having to be able to focus on both as well as personal life, time was very limited. During this time, our office had a 100% success rate in getting clients’ loans approved and financed within their finance clauses, providing a lot of happy customers and memories for me, while learning how to manage time effectively to ensure this was the outcome for each and every one of our clients.
Could you share any valuable advice for individuals aspiring to become brokers or those new to broking?
Always put yourself in the client’s shoes to understand each individual’s situation. Ask them the whys. Why they want to purchase a house. Why they want to refinance. Why they have sought a broker to help. Understanding a client’s why can push you to do the best job and provide the best solution for their specific needs.
Broker in Focus is a weekly MPA feature spotlighting mortgage brokers from diverse firms and locations across Australia. Among those recently featured are Anthony Bloom of My Mortgage Partner, Daniel Valente of WE Mortgage Solutions, Brett Sutton of Two Red Shoes Mortgage Brokers, David Linco of Davlin Mortgages, and Paul Kavanagh of Mortgage Finance Solutions.
Are you a mortgage broker interested in being featured? Email the author with your details.
