talks to Luke Turner about the challenges of being a broker and what he’d do if was the Prime Minister for a day.
Q: Who or what has inspired you to become a mortgage broker?
I’ve previously worked for a major bank and several finance companies, but always had the desire to be self-employed. I also had a personal interest in property, so it was a natural career path, and everything fell into place.
Q: What is the best part of being a broker?
Helping people to achieve their dreams and goals.
Q: What’s the hardest, most challenging part?
Managing time (there’s never enough) and making sure everyone you deal with gets the level of service they deserve and require.
Q: What do you think has been the secret to your professional success?
Communication, and going the extra mile for my clients. They become the best referral source you could ask for.
Q: Tell us briefly about your company and its role in the mortgage industry. What makes it different from other companies in the same space?
Majesty was established over 10 years ago, so we have seen many different markets, and cycles. We also have a focus on educating our clients, as people generally get very limited education around finance growing up. All of this has help to make Majesty the largest mortgage brokerage in the Bay of Plenty (BOP).
Q: As an experienced broker, what still surprises you when meeting clients.
Each and every client situation is different, so we are always coming up against new challenges, especially with the ever-changing platform of bank policy and criteria. Often as brokers, we forget how much knowledge we hold, which becomes crucial to navigating a solution for those challenging ones, that along with experience and a skilled team of advisers to collaborate with.
Q: What was your most memorable client experience?
I have a lot of memorable client experiences (among the bizarre and quirky), but I would say helping first home buyers is always a rewarding experience, as is providing an option for a client who has been turned away by their existing bank.
Q: How would you sum up brokers in three words?
Knowledgeable. Independent. Resourceful.
Q: What do you see as the biggest opportunity for brokers in 2018?
As criteria has tightened over the past 18 months, providing solutions for clients who might not fit within the box, within mainstream lending criteria.
Q: What do you think of RBNZ’s LVR changes?
A step in the right direction, but the Reserve Bank needs to make first home buyers exempt from these LVR restrictions much like new builds are.
Q: Does the industry need more regulation?
Yes, and again I think we are heading in the right direction.
Q: Outside the broking business, what else do you enjoy doing?
Living in Mount Maunganui, I enjoy the outdoors, exercising and hitting the gym. I also have a passion for cars.
Q: If you were the Prime Minister for a day, what would you do?
Lean on the Reserve Bank to make first home buyers exempt from current LVR restrictions.
Q: If you could have dinner with any three people who would you invite and why?
Richard Branson, Arnold Schwarzenegger & Bruce Mclaren – they have all excelled in whatever they have tried in life.
Q: Complete this sentence: If I wasn’t in mortgage broking, I would be…
In property development.
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