Broker in Focus: Katherine Persoglia, Property Before Prada

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 Katherine Persoglia (pictured above) of Property Before Prada, whose contributions to the industry extend far beyond her own brokerage. She is also the founder of The Brokers’ Bible, a fintech platform designed to help mortgage brokers navigate the ever-changing landscape of lending policy.

Full name: Katherine Persoglia
Job title: Mortgage broker
Company: Property Before Prada
Number of years in the industry: 22
Location: Melbourne

How and when did you become a mortgage broker?
Funnily enough, I stumbled into mortgage broking when I was 24. There was no grand strategy behind my decision — I didn’t have any banking or finance experience, and I even failed maths at school. But what I did have was a passion for property. By that age, I had already purchased two properties and had just sold a previous business, so I was on the lookout for my next opportunity.

During this time, I was speaking to my mortgage broker about funding a franchise, and he casually suggested, “Why don’t you try mortgage broking instead?” It wasn’t something I’d ever considered before, but the idea clicked. My love for property and investing aligned perfectly with the industry.

That conversation sparked my curiosity, and after some research, I knew I’d found the right path. I joined Aussie, completed their training, and the rest is history.

Fast forward 22 years, I now run a small, boutique team under my own brand, Property Before Prada, as part of LMG. It’s been an incredible journey that all started with a spark of inspiration and a big leap of faith.

In your opinion, what has been the most positive development in broking?
The biggest advancement in mortgage broking over the past 20 years has been technology, transforming efficiency, productivity, and the client experience.

Early in my career, I spent long hours driving to late-night client meetings, which was both exhausting and a safety concern. Today, video tools like Zoom and Google Meet allow brokers to conduct multiple face-to-face meetings in less time, improving work-life balance and client service.

AI has further revolutionised broking, streamlining operations in powerful ways:

• Meeting documentation: AI tools like Otter.ai and Microsoft Teams transcribe and summarise meetings, ensuring brokers capture key details without manual note-taking
• Action tracking: Platforms like Notion AI and Monday.com document follow-ups and client needs, automating workflows
• Email drafting: AI-driven solutions such as ChatGPT help craft professional follow-up emails and compliance notes
• Marketing and proposals: Tools like Canva and HubSpot enhance branding, saving time on client proposals and marketing
• Loan policy research: AI-driven platforms like The Brokers’ Bible – a solution I’ve built – provide instant loan scenario calculations and lender policy searches

These innovations not only save time but also elevate professionalism and the client experience — allowing brokers to deliver faster responses and more personalised service than ever before.

What challenges do you see currently facing the industry, and what solutions would you propose?
Currently, brokers hold nearly 80% of the mortgage origination market share in Australia, and this figure continues to rise each year.

I believe that the most significant challenges our industry will face in the next decade are technology disruption and AI. Digital lenders and fintech platforms are reshaping consumer expectations regarding speed and convenience, which could potentially push brokers to the sidelines.

At this moment, brokers should harness AI tools to enhance client interactions and boost business productivity. As technology and AI start to replace traditional human engagement, brokers must focus on education-driven marketing strategies, including webinars, blogs, and social media content, to establish themselves as trusted advisors and experts who can guide customers throughout their financial journey.

Additionally, brokers should prioritise building strong relationships with their clients, which technology alone cannot replicate. By staying close to your client, brokers can remain relevant and indispensable.

Collaboration with fintech companies could also present an opportunity for brokers to integrate new technologies into their businesses, thereby offering a hybrid service model that combines the best of both worlds — human insight and technological efficiency. Embracing change and innovation will be crucial for brokers to maintain their competitive edge and continue to thrive in an evolving marketplace.

Can you share a memorable or challenging experience from your career as a broker and the lessons you gained from it?
Over the past two decades, my career has been filled with challenges — from navigating complex applications to scaling my business and building a team. One of the most defining moments came when I brought on new-to-industry loan writers. I was eager to mentor them, but I underestimated the immense time and effort required. Balancing business operations while workshopping deals, teaching loan structuring, and guiding my team through lender policies quickly became overwhelming.

I soon realised the industry lacked a comprehensive, accessible resource to support new brokers and ease the burden on business owners like me. I often wished for a platform that could answer my team’s questions and guide them without my constant involvement. That frustration sparked an idea: if I struggled with this, many others likely did too.

This led to the creation of The Brokers’ Bible, launched in October 2023. More than just an online resource, it provides step-by-step guidance on lender selection, client interactions, and industry best practices. The challenges I faced shaped this platform, and today, I’m proud that it supports hundreds of brokers, filling a critical gap in the industry.

Could you share any valuable advice for individuals aspiring to become brokers or those new to broking?
The mortgage broking industry is an incredibly rewarding profession, but for new brokers, the first two years can be the toughest. It’s a time of learning, building a client base, and managing financial uncertainty — all while navigating complex lender policies and loan structures. Statistics show that around 22% of new brokers in Australia become inactive within six months, highlighting just how challenging the early years can be. However, with the right mindset, preparation, and support, these hurdles can be overcome.

In the beginning, your pipeline will be thin, and income can be sporadic, which can be discouraging. Having six to 12 months of savings can ease financial pressure and allow you to focus on building relationships rather than chasing quick wins. Treat every lead, regardless of size, as an opportunity to establish long-term trust and referrals.

The industry is complex, and every client scenario presents a new challenge. From lender policies to structuring loans, the learning curve is steep, and the pressure to deliver excellent service can feel overwhelming. Attending every available training session offered by aggregators and lenders will help fast-track your knowledge. Focus on personal growth rather than comparing yourself to brokers with years of experience. 

A strong mentor can accelerate your development, but it’s important to recognise the commitment required on their part. Mentoring takes time, and not all experienced brokers have the capacity to provide extensive support. Choosing a mentor or business that aligns with your goals and values is key. Being proactive in your learning and using resources like The Brokers Bible can help lighten your mentor’s workload while giving you structured guidance.

Working solo, especially from home, can feel isolating and slow your development. Surrounding yourself with other brokers — whether in an office or as part of a team — will expose you to real-world scenarios, provide immediate support, and create valuable networking opportunities. 

Treat the first two years as an apprenticeship rather than expecting immediate success. Commit to continuous learning through training, workshops, and networking to build your confidence and industry knowledge. Stay disciplined and resilient, knowing that the early challenges are temporary. Avoid comparing your progress to seasoned brokers and celebrate your own milestones. Every client, no matter the loan size, is an opportunity to build trust and long-term business relationships. 

The broking industry isn’t a sprint—it’s a marathon. With the right preparation and support, you won’t just survive the first two years; you’ll set yourself up for a thriving career.

Broker in Focus is a weekly MPA feature spotlighting mortgage brokers from diverse firms and locations across Australia. Among those recently featured are 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, Andy Truong of Alliance Mortgage Group, Andrew Hadjidemetri of Australian Financial and Mortgage Solutions, and John Minihan of Professional Finance Mortgage Broker.

Are you a mortgage broker interested in being featured? Email the author with your details.