From BDM to brokerage owner, Kroon reflects on two decades of change, the challenges ahead and why developing great brokers matters as much as serving clients
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.
MPA caught up with Rachelle Kroon (pictured top), founder and director of Sphere Home Loans, who built her brokerage on the back of years in banking and lender distribution — and a conviction that the industry deserved something better.
After working as a BDM alongside some of Australia's top brokerages, Kroon took the leap into business ownership with a clear vision: to build a firm defined by genuine client advocacy, strong culture and investment in people. Based in the Central Coast of New South Wales, Sphere Home Loans has since grown into a team-driven operation that Kroon hopes is also shaping the next generation of brokers — a goal she sees as inseparable from the profession's long-term future.
- Full name: Rachelle Kroon
- Job title: Founder/Director
- Company: Sphere Home Loans
- Number of years in the industry: 22
- Location: Central Coast NSW
How and when did you become a mortgage broker?
I became a mortgage broker after spending many years in banking and lender distribution roles, working closely with some of Australia's most successful brokerages as a business development manager.
While I enjoyed the corporate environment, I reached a point where I felt constrained by the lack of flexibility and, more importantly, the limited ability to drive meaningful change. I was fortunate to have a front-row seat to some of the best broking businesses in the country. I saw what exceptional client service looked like, how strong businesses were built, and equally, what I didn't want to replicate.
Starting my own brokerage was a significant leap of faith. Financially, it was one of the biggest risks I had taken in my career. Like many business owners, there were no guarantees of success, but I had a very clear vision of the type of brokerage I wanted to build and the impact I wanted it to have.
From the beginning, I made the decision to invest heavily back into the business. Rather than trying to do everything myself, I focused on building a team, creating systems and developing people. As we grew, that investment in people became one of our greatest strengths and helped shape the business we are today.
What started as a desire for greater flexibility and autonomy evolved into something much bigger. One of the things I am most proud of is creating opportunities for others to build successful careers in broking and helping develop advisers who genuinely put clients first.
The broking industry has been incredibly good to me over the past two decades. It has given me the opportunity to build a business, create a team and make a meaningful difference in clients' lives. Today, one of the most rewarding aspects of my role is knowing that we're not only helping clients achieve their property goals but also contributing to the future of the profession by bringing great brokers into the industry and helping them succeed.
In your opinion, what has been the most positive development in broking?
The most positive development has been the shift from brokers being seen as product distributors to being recognised as trusted advisers.
When I first entered the industry, much of the conversation centred around rates and products. While those things remain important, today's clients are looking for something much deeper. They want guidance, education and someone who can help them make confident financial decisions in an increasingly complex environment.
I believe the industry's greatest achievement has been earning that trust. The best brokers are no longer simply helping clients secure finance; they're helping them navigate major life decisions, build wealth, structure debt effectively and create opportunities for their future.
What excites me most is the role brokers can play in improving financial literacy across Australia. Every day, we have the opportunity to educate clients, challenge misconceptions and empower people to make better financial decisions. For many Australians, their broker is one of the few financial professionals they will regularly engage with throughout their lives.
That passion for education was one of the reasons I wrote The Quick Start Guide to Your First Property. I wanted to create a practical resource that helps first-home buyers navigate the property journey with confidence while reinforcing the value of professional mortgage advice. One of the things I'm particularly proud of is that the book was designed to support the broader broking profession. Wiley has made it available for other brokerages to use and customise with their own branding and contact details, allowing more brokers to provide educational resources that help clients make informed decisions.
That's a responsibility I don't think we should take lightly, and I believe it's one of the greatest opportunities our profession has moving forward.
What challenges do you see currently facing the industry?
The biggest challenge facing our industry is also its biggest opportunity: technology, in particular AI, and business consolidation.
Over the next five years, I believe the broking industry will change more than it has in the 20 years I've been part of it. Technology, artificial intelligence, automation and the continued consolidation of broker businesses will fundamentally reshape how we operate.
Like any period of significant change, there will be businesses that thrive and businesses that struggle. The reality is that we can't fight the changes that are coming. We need to embrace them, understand them and thoughtfully integrate them into our businesses.
Technology has the potential to remove administrative burden, improve efficiency and create better client experiences. However, it also raises important questions about what makes a broker valuable in the first place. If technology can replicate parts of the process, then brokers need to focus on the areas that can't be automated: relationships, strategy, trust, advocacy and genuine human connection.
Consolidation presents a similar challenge. Larger businesses can benefit from scale, resources and investment in technology, but there is also a risk that clients feel like a number rather than a person. Independent brokerages have an opportunity to differentiate themselves by delivering personalised advice and building relationships that larger organisations may find difficult to replicate.
The solution is not to resist change but to lead it. Brokers need to continually evolve, invest in their businesses and remain focused on the client experience. The days of the sole operator relying on the same processes they've used for years may become increasingly challenging. Those who combine technology with exceptional client relationships will be the ones who remain ahead of the curve and continue to thrive.
Can you share a memorable or challenging experience from your career as a broker and the lessons you gained from it?
One of the most challenging experiences in my career wasn't a single difficult client or a complex loan — it was transitioning from being a broker to becoming a business leader.
When I founded Sphere Home Loans, I was writing the loans, meeting every client and overseeing every part of the business. As we grew, I realised that if I wanted to build something that could genuinely make a bigger impact, I had to step away from being involved in every transaction and trust others to deliver the same level of care.
That was incredibly difficult. As brokers, we naturally want to control outcomes because our clients are trusting us with one of the biggest financial decisions of their lives. Letting go felt like I was putting my reputation in someone else's hands.
Instead of lowering my standards, I invested heavily in building the right culture, systems and training. We created an environment where every broker understood that our role wasn't simply to arrange a loan — it was to become a trusted adviser for the long term. We focused on doing what was in the every single time, knowing that if we got that right, the business would grow naturally.
The experience taught me that great leadership isn't about doing everything yourself. It's about developing people, trusting them and creating a culture where they can consistently deliver exceptional outcomes. Today, one of my greatest rewards is seeing our brokers build lifelong relationships with their own clients and knowing that the values the business was founded on continue through every member of the team.
That experience also reinforced something I believe is true across our industry: lending products, policies and technology will continue to change, but trust, empathy and genuine client advocacy will always be what separates a good broker from a great one.
Could you share any valuable advice for individuals aspiring to become brokers or those new to broking?
My biggest piece of advice is to become part of a great team before trying to become a great broker.
One of the misconceptions in our industry is that obtaining a Diploma of Finance and Mortgage Broking means you're ready to advise clients. The qualification is important, but it is only the beginning. Mortgage broking is a profession that requires practical experience, mentorship and time to develop.
We've hired experienced bank lenders with years of lending experience who still spent 12 months working in credit analyst and support roles before they were ready to provide the level of advice and service our clients deserve. Understanding policy is one thing; understanding strategy, client advocacy, complex scenarios and relationship management is something entirely different.
I often compare broking to a trade. We don't expect an apprentice to become a master tradesperson overnight, yet too many people enter broking believing they can skip the apprenticeship stage. Unfortunately, I see many talented people burn out or leave the industry because they underestimate the learning curve and don't have the right support around them. I also see clients receive less than appropriate advice and then be left with no ongoing relationship when the broker returns to employment.
My advice is to seek out a brokerage that invests in training, mentoring and professional development. Learn from experienced brokers, spend time understanding credit, lender policy and client management, and don't rush the process.
I am incredibly passionate about this industry and what it represents. Mortgage brokers play a role in some of the most significant financial decisions people will ever make. We have the opportunity to change lives, create opportunities and help clients build their futures.
I would absolutely encourage more people to enter the profession, particularly those who genuinely care about delivering value and building long-term client relationships. But with that opportunity comes responsibility. Experience matters, and there is enormous value in learning the craft before becoming responsible for decisions that can have a lasting impact on someone's property and financial journey.
Broker in Focus is a weekly MPA feature spotlighting mortgage brokers from diverse firms and locations across Australia. Among those recently featured are Lawry Miller of Teachers and Nurses Mortgage & Finance, Stacey Straatsma of Mortgage Choice Nowra, Jerry O'Brien of Mortgage Station, Ashley Hooker of Mortgage Choice Woronora Heights, 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, and Jason Cuerel of Mortgage Innovations.
Are you a mortgage broker interested in being featured? Email the author with your details.
