Aaron Russell-Smith started broking after a tragic accident put him in a wheelchair for life. And he loves the job already...
Aaron Russell-Smith moved from construction to broking after a tragic accident put him in a wheelchair for life. Inspired by the efforts of the broker who helped him to secure a home using his insurance payment, Russell-Smith recently made the move into broking himself and has fallen in love with the job. He tells MPA how he’s established himself as a new broker, and explains his big plans for the future.
MPA: How did you get into broking?
Aaron Russell-Smith: From 2006 I wanted to be a mortgage broker, and when I bought my house I enlisted a broker who did a great job in getting me approved, so I asked him what was needed to become a broker. He explained that I needed a Certificate IV in Finance and Mortgage Broking, to join an aggregator and either the MFAA or FBAA, and to gain lender accreditations.
MPA: What did you do for work before broking?
AR: In 2010 I bought a restaurant. I’d just got married and was setting the business up (making phone calls, emails, signing forms), all on our honeymoon in Hawaii. The missus wasn’t happy with me at the time. (Guys, never do business on your honeymoon – not a happy wife!) I sold the restaurant in 2011 and started doing contract work with recruitment agencies, working with Queensland Health, Telstra, Holcim Concrete and Bupa, which was my last role in August 2012.
MPA: What challenges have you encountered, being a new entrant to the industry?
AR: Just trying to find my feet not having instant cash flow coming from a regular wage to commission is hard, as well as learning credit policies and understanding the bank procedures.
MPA: What advice would you give to other new brokers?
AR: I would say, find an aggregator that suits you and find a mentor you like and trust. Finsure is my aggregator and I have the best mentor in Steve Lowe. He has my interests at heart and he wants me to be successful, along with Finsure. Surround yourself with other brokers that have the experience and understanding of the industry.
MPA: How do you generate leads?
AR: I have a couple of ways of generating leads. I will buy some; there are companies that advertise home loans online. I recently had 1,000 flyers printed, so at night me and my wife pick an area and drop them in letterboxes. My youngest brother has three kids, and I’m in the process of raffling off my signed Gold Coast Titans jersey to raise money for their school. In return, I get the email addresses of every mum and dad that buys a raffle ticket. I also find RP Data works well for me.
MPA: What are your goals?
AR: Making the MPA Top 100 Brokers list. I want to settle $2–3m a month in home loans, but my five-year goal is to be running a successful mortgage broking business, making the Top 100 every year and even taking the number one spot out in a few years’ time.
MPA: How do clients react to dealing with you being in a wheelchair?
AR: When it comes time to make the appointment to meet them, I let them know I am in a wheelchair. The clients have no problem meeting me at a coffee shop. They ask questions about how it happened; they say it’s great to see me doing what I love and that it isn’t holding me back. I had two customers who didn’t want to meet at a coffee shop or at my home office, but I don’t let those two customers get me down. Everyone I deal with has said there is no problem. I meet them at a nice coffee shop, I buy them a coffee, and we walk away from the appointment with smiles on our faces, whether they’ve signed on the dotted line or they have to wait six months before I can get the approval.
MPA: Being in a wheelchair, what kind of challenges do you face in day-to-day work?
AR: It is a lot harder, but that’s life; I have to deal with it. I do get really sore sitting in the wheelchair for hours on end. By mid-afternoon I get tired and start dozing off at the table. I try to get all my appointments done by 1.30pm, as my lower back, hips, pelvis, knees and wrist all start throbbing. It gets worse throughout the winter months, when it takes a little bit longer to get out of bed. My wife Roxanne won’t sleep next to me as I lay awake till the early hours of the morning. There are times when I have to meet a client and it’s pouring down with rain: I have to put the wheelchair together dripping wet, and after the appointment pull the wheelchair apart. So these are some of the challenges I face day to day.
MPA: How did you get into broking?
Aaron Russell-Smith: From 2006 I wanted to be a mortgage broker, and when I bought my house I enlisted a broker who did a great job in getting me approved, so I asked him what was needed to become a broker. He explained that I needed a Certificate IV in Finance and Mortgage Broking, to join an aggregator and either the MFAA or FBAA, and to gain lender accreditations.
MPA: What did you do for work before broking?
AR: In 2010 I bought a restaurant. I’d just got married and was setting the business up (making phone calls, emails, signing forms), all on our honeymoon in Hawaii. The missus wasn’t happy with me at the time. (Guys, never do business on your honeymoon – not a happy wife!) I sold the restaurant in 2011 and started doing contract work with recruitment agencies, working with Queensland Health, Telstra, Holcim Concrete and Bupa, which was my last role in August 2012.
MPA: What challenges have you encountered, being a new entrant to the industry?
AR: Just trying to find my feet not having instant cash flow coming from a regular wage to commission is hard, as well as learning credit policies and understanding the bank procedures.
MPA: What advice would you give to other new brokers?
AR: I would say, find an aggregator that suits you and find a mentor you like and trust. Finsure is my aggregator and I have the best mentor in Steve Lowe. He has my interests at heart and he wants me to be successful, along with Finsure. Surround yourself with other brokers that have the experience and understanding of the industry.
MPA: How do you generate leads?
AR: I have a couple of ways of generating leads. I will buy some; there are companies that advertise home loans online. I recently had 1,000 flyers printed, so at night me and my wife pick an area and drop them in letterboxes. My youngest brother has three kids, and I’m in the process of raffling off my signed Gold Coast Titans jersey to raise money for their school. In return, I get the email addresses of every mum and dad that buys a raffle ticket. I also find RP Data works well for me.
MPA: What are your goals?
AR: Making the MPA Top 100 Brokers list. I want to settle $2–3m a month in home loans, but my five-year goal is to be running a successful mortgage broking business, making the Top 100 every year and even taking the number one spot out in a few years’ time.
MPA: How do clients react to dealing with you being in a wheelchair?
AR: When it comes time to make the appointment to meet them, I let them know I am in a wheelchair. The clients have no problem meeting me at a coffee shop. They ask questions about how it happened; they say it’s great to see me doing what I love and that it isn’t holding me back. I had two customers who didn’t want to meet at a coffee shop or at my home office, but I don’t let those two customers get me down. Everyone I deal with has said there is no problem. I meet them at a nice coffee shop, I buy them a coffee, and we walk away from the appointment with smiles on our faces, whether they’ve signed on the dotted line or they have to wait six months before I can get the approval.
MPA: Being in a wheelchair, what kind of challenges do you face in day-to-day work?
AR: It is a lot harder, but that’s life; I have to deal with it. I do get really sore sitting in the wheelchair for hours on end. By mid-afternoon I get tired and start dozing off at the table. I try to get all my appointments done by 1.30pm, as my lower back, hips, pelvis, knees and wrist all start throbbing. It gets worse throughout the winter months, when it takes a little bit longer to get out of bed. My wife Roxanne won’t sleep next to me as I lay awake till the early hours of the morning. There are times when I have to meet a client and it’s pouring down with rain: I have to put the wheelchair together dripping wet, and after the appointment pull the wheelchair apart. So these are some of the challenges I face day to day.
