What’s the BEST first step to becoming a successful mortgage broker with no lending experience?
TL;DR:
26M in Sydney still living at home with no direct finance or lending experience trying to figure out the best FIRST move toward becoming a mortgage broker long term. Only experience is in tech sales for the last 3 years as an SDR
Torn between:
- going straight into commission-only broking with Aussie Home Loans
OR
- taking a dealership finance/business manager trainee role first to build lending experience before transitioning into mortgage broking later.
Would love advice from brokers who’ve actually gone through the early stages.
Long version:
I’m 26 based in Sydney and my long-term goal is very clear:
- become a mortgage broker
- eventually own a brokerage/franchise
- build a trail book
- build a property portfolio alongside it
- eventually scale into business ownership
The issue is:
I have no direct lending or finance experience yet.
My background is mainly sales/business development, but I want to transition fully into broking and lending.
Right now I’m considering 2 main paths:
OPTION 1 — Go straight into commission-only broking with Aussie Home Loans
I attended an Aussie event recently and they explained their mobile broker pathway.
The appeal is obvious:
- become a broker immediately
- start learning the industry now
- get direct broker experience
- build trail/referrals earlier
- Aussie provides leads
- potentially bypass the “2 years lending experience” issue many aggregators want
The downside:
- commission-only income
- likely needing a casual/part-time job initially
- income instability early on
- learning curve while also trying to survive financially
I’ve also heard mixed things about Aussie because of the commission split, but part of me thinks:
“Isn’t the lower split worth it when you’re getting leads and experience?”
OPTION 2 — Take a dealership finance/business manager trainee role first
I’ve also been interviewing for trainee automotive finance/business manager roles.
What attracts me:
- stable PAYG income
- lender/application/compliance exposure
- finance industry experience
- learning how finance deals work
- easier to survive financially while learning
- potentially easier path to buying property
But:
I worry I’m delaying becoming an actual broker.
My biggest concern:
I don’t want to waste years taking the wrong first step.
Would love honest advice from:
- mortgage brokers
- ex-Aussie brokers
- broker owners
- dealership finance people who transitioned into broking
- anyone who started with no lending experience
If you were starting from scratch again:
What would you say is the BEST first move to become a successful broker long term?
Would you:
- go straight into broking immediately?
- build lending/finance experience first?
- avoid commission-only early on?
- use dealership finance as a stepping stone?
Appreciate any honest advice.