After buying a home, she saw room for improvement and became a broker herself
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 interviewed Janine Ashmore (pictured above), director of Bliss Home Loans, whose entry into mortgage broking in 2004 was anything but conventional. Initially working in conveyancing while raising her young children, she stumbled into the industry when she and her husband purchased a home in Darwin. Frustrated with the conveyancing process, she saw an opportunity to offer better service.
Full name: Janine Ashmore
Job title: Director / Owner
Company: Bliss Home Loans
Number of years in the industry: 20
Location: Darwin – Northern Territory
How and when did you become a mortgage broker?
I became a broker in 2004, joining Wizard Home Loans in Darwin. My journey started rather differently. We were buying a home and used the newly opened Wizard office in Darwin to do our home loan. Our conveyancing experience during this process was appalling with me having to do most of the work myself.
After finalising the purchase of our home, I decided to start an at-home business doing conveyancing as a great way to earn a living and utilise my legal training, as well as being able to look after a two- and a three-year old at the same time.
While talking about this with our broker over a beer, with him just starting his business, he recruited me under the guise of me “learning the finance side of the business” while my conveyancing qualification was being finalised. Basically, I think he wanted free labour to help him start up.
Anyway, the rest as they say is history. Four months later, we were the worst broker clients ever. We sold our house and used that money to move to Townsville and open our own Wizard. It has been a journey ever since.
In your opinion, what has been the most positive development in broking?
The realisation of the public that we are a true profession that isn’t transactional. We are a valued resource that helps guide and grow people, families and businesses into growth and financial security. The tool we use is the home loan, and 74% of people doing that can’t be wrong.
What challenges do you see currently facing the industry, and what solutions would you propose?
The disconnect between first homeowners and market entry prices for properties and wages and wages growth. Cost of living is outgrowing wages growth at this point, and property prices are still on the rise as are rents. With inflation still not where it should be either, there is no easy solution. Federal and state governments are doing what they can to assist people entering the markets and am keen to see how these incentives play out over the years.
As brokers, our lead-in time in nurturing and growing a client’s ability to purchase will take longer and we need to implement processes to cater to these timeframes taking longer and keeping homebuyers motivated for the slog ahead.
Can you share a memorable or challenging experience from your career as a broker and the lessons you gained from it?
When I first came to Darwin and took over the previous franchise business I owned with my husband, Murray, who is also my business partner now, we were pressured to open multiple franchises and even go into business with an existing franchisee when we really didn’t want to, in order to have our own store. That went south for reasons too numerous to mention. We had the foresight to have a great partnership agreement legally drawn up, so it has seen us protected financially. However, we suffered no leave or flexibility for about eight years as a result, so that was really tough on our wellbeing.
The lesson learned – sometimes it’s best to just say no and go out on your own in the first place. Bigger isn’t always better. We would have killed it anyway, so just back yourself. It’s really that simple.
Could you share any valuable advice for individuals aspiring to become brokers or those new to broking?
Do everything from a position of care. What we do is problem-solving, and the loan is simply the tool that we use to help. Do up a business plan when you start and stick to it.
Broker in Focus is a weekly MPA feature spotlighting mortgage brokers from diverse firms and locations across Australia. Among those recently featured are Allan Culbertson of Ledge Home Loans, Katherine Persoglia, Property Before Prada, Luke Mansour of Legal Home Loans, Livio Tramontin of MPL Mortgage Services, Mark Bonnici of Westlend Home Loans, Rebecca Timms of Realise Home Loans, Scott Stevenson of Mortgage Choice, Xavier Quenon of Go Mortgage, Peter Bassilios of Money Tree Mortgage Brokers, and Andy Truong of Alliance Mortgage Group.
Are you a mortgage broker interested in being featured? Email the author with your details.
