Mortgage Choice franchise owner on hard-won lessons, tech's rising role, and what new brokers really need to know
Broker in Focus is a dedicated series that highlights the unique journeys of mortgage brokers, providing them with a platform to share their experiences, insights, and expertise. Through compelling personal stories and professional reflections, each featured broker recounts the key moments that have shaped their careers, delves into the challenges and opportunities facing the industry today, and shares the valuable wisdom they have gained along the way.
This week, MPA is putting the spotlight on Ashley Hooker (pictured top), franchise owner of Mortgage Choice Woronora Heights, who built his brokerage from the ground up after starting as a loan writer in 2012.
With 13 years in the industry, Hooker shares why Best Interests Duty became the broking channel's greatest asset, how technology has transformed the day-to-day reality of the job, and why smart brokers win clients by focusing on strategy rather than chasing the lowest rate. He also offers candid, practical advice for anyone considering entering the profession — including why your first 12 to 18 months will test you, and how to come out the other side.
- Full name: Ashley Hooker
- Job title: Owner / Senior broker
- Company: Mortgage Choice Woronora Heights
- Number of years in the industry: 13
- Location: Woronora Heights, Sutherland Shire, NSW
How and when did you become a mortgage broker?
I initially started as a loan writer around 2012 for an existing broker. After completing the initial learning curve, I decided to start my own business and became a franchisee.
In your opinion, what has been the most positive development in broking?
I think Best Interests Duty (BID) has become our superpower. When it was first introduced, everyone freaked out about the extra paperwork. But it turned out to be the best thing that ever happened to the industry. It has instantly built trust in the broking channel.
I also think that tech has come such a long way. I remember when doing a loan application meant printing out 80 pages of bank statements and chasing clients for physical signatures. The massive upgrade in digital ID checks, automatic statement scraping, and slicker aggregator platforms has saved us a tonne of time. And AI is actively saving brokers from drowning in paperwork right now. These days, AI can help you with everything, including the application process, compliance, marketing, and retention.
What challenges do you see currently facing the industry, and what solutions would you propose?
There are new challenges facing brokers today. For example, customer incomes are more complex, with fewer people working standard 9-to-5 jobs with a flawless savings history. Many of my customers have a side hustle, contract work, or a complex self-employed setup. On top of that, banks often change their serviceability calculators, which means a customer's borrowing power can change significantly from one week to the next.
The other challenge facing brokers is customers being obsessed with the absolute lowest rate. And it's understandable, when you consider the rising cost of living.
Smart brokers reframe the conversation. Instead of operating as a human rate-comparison site, they focus entirely on strategy. They help their customers understand how to structure offset accounts to save more money over time, how to navigate government first-home buyer grants, or how to avoid Lenders Mortgage Insurance (LMI). Once a client realises the broker can save them tens of thousands of dollars through smart structuring, their priority shifts away from locking in the lowest rate.
Can you share a memorable or challenging experience from your career as a broker and the lessons you gained from it?
In the early days when I was still learning, I took on a few large loan applications which took a lot of time away from the smaller deals I was used to working on. While I learned some things from being thrown in the deep end, most of these opportunities fell apart due to my lack of experience and time delays in working out what I didn't know.
I have since learnt it's better to be upfront with the customer, and recommend them to another broker you trust if you are new or inexperienced in the area they need support with.
Could you share any valuable advice for individuals aspiring to become brokers or those new to broking?
If you're looking at getting into broking or you're just starting out, it's a brilliant career. The income potential is massive and you're your own boss. But to be real: the first 12 to 18 months can be a shock to the system. If you want to survive the startup phase and actually succeed, here is the real-world advice you need:
Join an aggregator that is going to support your specific needs. The aggregator provides your software, compliance backing, and access to the banks. Don't just go for the aggregator with the cheapest fees or that gives you the biggest cut of the commission – especially if you have no prior industry experience. A 95% commission split is useless if you're writing zero loans.
As a newbie, you need support. Do your research and ask different aggregators the hard questions: What does their mentoring programme actually look like? Will a real human look over your first few applications before they go to the bank? Do they offer business development support so you aren't trying to build a business from scratch?
Have a serious cash buffer that will help you cover your living expenses over your first 12 months while you learn the business of broking.
Even if you write a loan on your very first day, it might take 60 days to settle, and you won't see that commission until the month after that. Plus, trail commission – the passive income that makes this job so good – takes years to build up into something you can actually live off.
Make sure you learn bank policy. Newbies always make the mistake of trying to memorise interest rates. Don't bother; they change every five minutes. What makes you a valuable broker is knowing which bank will actually approve the loan. Start learning the weird niches. Which lender accepts a casual job if the client has only been there three months? Who is generous with self-employed borrowers who only have one year of tax returns?
Get on first-name terms with lender BDMs. When you come across an unusual scenario, call them up and say, "Hey, I've got a client in X situation. Will your credit team look at this?" They will literally tell you how to package it to get it approved.
Become an absolute tech nerd from day one. Avoid doing things manually in Excel spreadsheets. Learn your aggregator's CRM inside out and use the tools available. Set up automated email or text updates. When an application is sitting with a bank, clients get incredibly anxious. If your system automatically texts them at each stage – "Documents Received," "Lodged with Bank," "Conditional Approval" – it keeps the customer in the loop at every stage.
Go out and build relationships with real estate agents, accountants, and conveyancers. Don't just walk into an accountant's office and ask for leads. Find a client who needs their taxes done, refer them to the accountant you want to start working with, and then reach out and say, "Hey, I just sent John your way. If you ever have customers who need help with their mortgage, I'd love to help them out."
Accept that you're going to feel like a fish out of water for a while. You are going to experience massive imposter syndrome for the first six months. You'll get emails from bank assessors asking questions or requesting more information, loans will fall through at the last minute, and the compliance paperwork will feel endless at times.
Every single broker in Australia went through this phase. Treat every mistake as a lesson and lean heavily on your mentors. Once you get past that initial hump, you'll be set up with a highly resilient business.
Broker in Focus is a weekly MPA feature spotlighting mortgage brokers from diverse firms and locations across Australia. Among those recently featured are Ben Harris of In Financial Services, Bree Rollo of Tend Home Loans, Charlotte Rubbo of In Mortgage & Finance Services, Karen Le Comte of Mortgage Choice Cleveland, Ditte Moller of Viking Mortgages, Chandelle Lord of Mortgage Lane, Jason Cuerel of Mortgage Innovations, Talissa Bailey of Bai Mortgage, Dan Pertot of Pertot & Co. Mortgage Brokers, and Leo Cagliolo of Professional Mortgage Manager.
Are you a mortgage broker interested in being featured? Email the author with your details.
