In the media
Who or what put you on the path to become a mortgage broker?
Before becoming a mortgage broker, I spent 20 years working for the banks building my lending experience across various roles in credit, relationship management and as a Business Development Manager in the broker segment. In the 5 years before starting Mint Equity, I worked in direct client facing roles at NAB as a Business Banker and as a Mobile Banker to prepare me for the role as a broker.
My wife and business partner, Leigh, was an integral part of me stepping out from the safety of a big bank. Having her support within the business for all the things I couldn’t or wouldn’t have time to do was very reassuring and meant we could establish a professional business from day one.
What has been your most challenging moment in your broking career?
The first few months were the most challenging – I had left the buzz of a dynamic sales environment at a major bank, and replaced it with a home office environment. The social interaction I enjoyed at the major bank had changed significantly. I was lucky to have my business partner and former colleagues to bounce ideas off and satellite offices with financial planners and accountants but it certainly wasn’t the same environment.
I was keen to reconstruct the culture and environment that I’d had in my 20 years of banking, so as the business grew, we were able to purchase an office in Somersby after 12 months when I took on my first employee.
Where do you see broking going in the next five years?
More and more people now just want great service and expertise. Combining those two things within our industry means you can stand out from the crowd. I think there will be a greater demand and value in individual relationships with a client’s mortgage broker as a source of expertise rather than online tick and flick models. There is a place for online finance models and recent fintech innovations are proving popular with certain markets but I feel these are a novelty and will lack longevity.
Over the next five years we’ll see an increased reliance on the broker network from lenders where it’s a more cost effective model and clients are better serviced. Lending changes will always continue and complexity needs to be met with expertise, so brokers who can think outside the box will become an asset to clients.
What is your point of difference as a broker?
When you’ve been in banking and finance for as long as I have, you retain a lot of experience and knowledge that helps turn a potential declined application into one that will be approved. I’m tenacious so I’ll fight for every client and when it comes to the current lending market, it’s important to have someone in your corner fighting for you. What we do isn’t just paperwork and commissions, it’s people’s homes, their families and their future.
We live in an instant world where people want information and reassurance quickly, which is probably why we’ve seen a rise in online lending. My philosophy is to give clients access to my knowledge quickly and easily - being responsive isn’t difficult but it can be hard to find, so this is a point of difference for me.
If you could visit any time, past or future, where would you go?
Industry specific
I would like to fast forward five years from now to see how the property and mortgage markets have recovered from the regulatory constraints currently in place and the improvement in the level of professionalism among brokers.
Personal perspective
As a cricketing tragic, I would love to go back in time to the 1932-33 Ashes tour in Australia where England came up with the highly controversial bowling tactic called “Bodyline” to try and stop Bradman! He still averaged 56 for that series.
Featured in Australian Broker Magazine this month, Mint Equity Director Zac Peteh talks about moving from banking to broking, fighting for every client and his love of cricket.