Kris Pedersen of Kris Pedersen Mortgages in Auckland says there's good reason for November 1st to be a work-free day country wide.
Years in industry: 10 Location: Auckland
Why did you get into mortgage broking?
It grew from an interest in property investment and that the more I understood the financing side of transactions the more I see deals others couldn’t. This was prior to regulation where it was a lot easier to use vendor finance, second mortgages etc to put deals together.
How would you sum up mortgage advisers in three words?
Put customers first (the good ones’ at least anyway!!)
What advice would you give to a new mortgage adviser?
Exactly what I was told in 2007 when I went out on my own but didn’t listen. Be careful in regards to planning for the future. This business does go in cycles and there needs to be a plan for when the market goes into a downturn that you do not just survive but prosper.
How would you change the industry?
Continue what Westpac
started in continuing to have the bank / broker relationship become more like business partners rather than competitors
What’s the most important thing an adviser can do to develop their business?
Always put the customer first. In doing so this creates referral based business which is the best (and cheapest) marketing you can get.
What’s the best advice you’ve ever been given?
I remember being told that I was “trying too hard to earn money when I should have been looking to make money.” What the person meant was that it was the thinking that you do which allows you to work on the business rather than in it which creates the real value.
If you were Prime Minister for one day, what would you do?
Give the country the 1st of November off so we can all celebrate the AB’s smoking the Aussies in the final.
What has been the highlight of your career?
Where the business is today. We are still a small team but well set up for growth.
What’s your favoured style of coffee?
Union, league, soccer or other?
If you could invite three people to dinner, dead or alive, and excluding family and friends, who would they be and why?
John Key & Arnie both for their ability to be extremely successful in different fields and Mick Jagger because he’s Mick Jagger
Complete this sentence:
If I wasn’t in mortgage broking, I would be… Self-employed in something else. I’m pretty unemployable now :)
Every Monday we’ll feature a different mortgage adviser from across New Zealand. If you’d like to be included, please email us here.