Regular and consistent training is the key to brokers’ relevancy

With banks and lenders virtually changing their requirements overnight, brokers are being forced to adapt quickly and with minimal guidance.

“While these changes are new, we are definitely spending a lot more time on every file and really questioning ourselves and asking, ‘What does the bank want to see?’ Additionally, it is taking at least a week longer to get an application approved,” One Network Broking co-owner Nick Gurry tells MPA. He runs the business with Matt Simms.

While Gurry and Simms applaud the stricter measures, they say communication from lenders to the third party channel has not always been sufficient.

To stay relevant and up to date with industry changes and expectations, the team has increased its training program.

“Everything we do is now about ensuring we are meeting the obligations of the banks and customers,” Gurry says.

The brokerage puts great emphasis on support and training to encourage professional development and staff retention. Its successful trainee program works with new entrants from the ground up for six to nine months, allowing them to shadow the top brokers.