Top Tips for Hiring Mortgage Brokers

With all the craziness going on in the housing market, it’s no wonder mortgage brokers are busier than ever.  Guess what ¼ of Australian mortgage brokers say is the biggest challenge in their businesses?  Recruiting. We’re willing to say the remaining 75% would say keeping up with demand, which is essentially a recruitment problem.  As you know, if you only had more qualified, experienced, and accurate mortgage brokers, you could write so many more loans for an ever increasing number of happy customers.  

At Uplift Recruitment, we specialise in finding key candidates for mortgage brokerage so we know the recruitment struggle is real right now.  Not only is finding quality staff – honest, ethical, and reliable professionals – harder than ever, keeping them can be quite a challenge (read up on new ways to hold onto your best employees).  Our mortgage brokerage clients are pushed for time, have cash flow constraints, and burdened by government compliance.  The last thing they want to worry about is staffing, especially when candidates are getting counter offers and enticing packages from brokers all over the country.  

For all those reasons, your mortgage brokerage’s reputation as an employer must be carefully guarded and cultivated because people within the same industry inevitably talk.  That’s a hidden value of using a recruitment firm like Uplift Recruitment, we are the perfect brand ambassador for your business because we treat candidates right. Other mortgage brokers will come knocking for a job when they hear that you follow the right steps and know what you are doing in terms of recruitment. 

That being said, if you are going to take a stab at hiring on your own, be sure to follow the tips below.

Top Tips for Hiring Mortgage Brokers

1. Get started as early as possible: Whether you’re using a recruiter or not, get ahead of the game by anticipating the need for staff as early as possible.  
2. Move Fast: Once you start the interview process, if you find someone who seems right, move fast or they will be gone.  Don’t take too long to make an offer or hold too many interviews.  Other firms are just waiting to snap that person up. 
3. Give Integrity, Get Integrity: Do what you say you are going to do (e.g, don’t offer a lower salary if you know what the candidate wants from the beginning, unless of course missing skills, qualifications, or experience).
4. Communicate: keep your recruiter (if using) abreast of any changes.
5. Promote a healthy, fun and vibrant work space – this includes having a well throughout, formal onboarding process. 
6. Treat your people well: a good salary, comms structure and perks are required.  

The fact is that the Australian housing market is going nuts and bringing mortgage brokerages – big or small – along for the ride.  This can be an incredible opportunity for your business if you are able to find the right people quickly and capitalize on demand. 

Is recruitment holding your mortgage brokerage back?  What would the right staff do for your business?  Let us know in the comments or email us at [email protected]