Building the broker of tomorrow

As Australia’s mortgage broker numbers surge past 22,000, training systems adapt to serve everyone from solo operators to tech-savvy newcomers

NOT SO long ago, the mortgage broker was (undeservedly) the butt of an industry joke: today’s Uber driver, tomorrow’s finance professional. But that caricature has faded fast. Today’s new entrants are arriving with law degrees, accounting backgrounds and business experience. This evolution has transformed not just the profession’s profile but its pressure points. With thousands of new entrants since 2021, the industry is rethinking training, technology and support. Two key players – the FBAA and Mortgage Choice – have taken diverging but complementary paths, shaping a future in which professional development is no longer a side note but the foundation of the trade.

Both organisations have moved aggressively on artificial intelligence, though their approaches differ. In April, Mortgage Choice gave its brokers secure access to Google’s Gemini AI tool, integrated into the Google Suite the network already uses. “Brokers are using Gemini to help them write emails, summarise meetings, review documents, break down complex financials, summarise living expenses and fact-check files,” says Waldron. The aggregator launched the Mortgage Choice AI Academy in August, a dedicated learning program to build broker mastery in AI. “Since launching the academy, we’ve seen a 20% increase in the daily use of Gemini across our network,” says Waldron. “And one of the largest businesses in our network recently used our custom Gemini Gems to reduce their document compliance review process from one hour to 10 minutes per application.” The FBAA has been discussing artificial intelligence at its events for

“We’re now seeing brokers not just use LinkedIn and Facebook, but they’re also using TikTok, particularly the newer generation of brokers coming through,” James says. Every event includes some discussion of marketing, leads and sales, with successful brokers sharing their approaches. Mortgage Choice is investing heavily in its brand presence and leveraging its connection to REA Group. The aggregator’s self-serve broker marketing platform houses hundreds of professionally designed customisable assets. The platform’s inbuilt AI tool automatically populates broker contact details onto on-brand templates and generates custom QR codes so brokers can track performance. A dedicated local marketing team delivers face-to-face workshops and strategic planning sessions, while a social media scheduling tool makes it easy for brokers to maintain their online presence. But Waldron emphasises the fundamentals haven’t changed. “For a new broker, the key to building their personal brand is to put themselves out there,” he says. “Mortgage broking is a people business, so I’d encourage all new brokers to make time to build genuine connections.” The aggregator’s connection to REA Group provides another advantage. “Our connection to REA Group means Mortgage Choice brokers are uniquely positioned to connect with the more than 12 million monthly visitors on realestate.com.au,” says Waldron. He suggests new brokers start by reaching out to phone and social media contacts or introducing themselves to other business owners by walking into their businesses or joining local networking groups.

Oct 21–Mar 22

Number of mortgage brokers increasing

several years, but the focus has shifted from theoretical possibilities to practical application. “We’ve actually trained them on how to use ChatGPT more effectively, as an example,” says James. The association brought members into a room with their laptops and walked them through the tool step by step. The FBAA’s most recent Elevate tour, themed ‘The Broker’s Tech Toolbox’, examined digital tools – from initial client contact through to settlement – with security implications and data protection top of mind. “Understanding how to do that safely is really important,” says James. Mortgage Choice has also delivered key integrations this year. In June it added NextGen’s AI-powered open banking tool, the Frollo Financial Passport, cutting down the time brokers need to gain real-time insights into a customer’s financial position. In August, it delivered what it calls an industry-first integration, allowing brokers to initiate Quickli scenarios directly from Broker Platform. Waldron frames the discussion around opportunity rather than risk. “Aggregators have a responsibility to help brokers adopt AI through secure and tested tools that enhance, not replace, what brokers do,” he says. His team conducts extensive research with brokers before building prototypes, then tests tools with the network before launch. “Our teams are working closely with brokers to develop AI interventions where they can deliver the most value. Co-creating in this way enables us to ensure the AI initiatives we deliver are based on what brokers really need,” says Waldron.

Lead generation remains the number one challenge for new brokers across the country. The FBAA provides free resources in its member portal, including marketing and social media guides, but again the emphasis falls on peer-to-peer learning. “We’ve done specialised sessions on lead generation … showing brokers the principles of creating a marketing funnel and how that works,” says James. The association has walked members through creating videos, understanding platform differences between Facebook and TikTok, and even simple tools for recording and editing content quickly. For brokers unfamiliar with video content, overcoming the initial fear barrier is half the battle.

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The Finance Brokers Association of Australia (FBAA) is a professional body representing, educating and supporting finance and mortgage brokers across the nation. The association has more than 13,600 members and represents the majority of customer-facing individual finance and mortgage brokers. The FBAA monitors legislation and represents brokers’ interests to industry regulators, federal government departments, and state and federal Members of Parliament. With a commitment to advocacy, education and ethical standards, the FBAA plays a crucial role in shaping the industry’s future. This ensures that its members are well equipped to meet the evolving needs of their clients.

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As the profile of new entrants has shifted substantially, so too does the future face of the profession. “The broker of the future is a more sophisticated broker. They’re often coming in with previous business experience or experience in finance or accounting,” says James. She’s seen lawyers transition into commercial broking, bringing their analytical skills to a new profession. Recruiting new mortgage brokers is also not seen as a problem, unlike in the insurance industry. While the FBAA’s Consumer Access to Mortgages 2025 report shows that 40% of consumers have limited familiarity with the role mortgage brokers play, awareness seems high enough that university students don’t necessarily need targeted career guidance to consider broking as an option. “Consumers are more aware of brokers and what brokers do … if you spoke to most university students, even if they hadn’t had career advice around it, somewhere in their network [they would have encountered broking and] they would understand what brokers do,” says James.

“When we create our [training] program and our content, we’re very conscious that we have a mixed audience”

Joanna James, FBAA

In Partnership with

The FBAA divides learning into three categories: formal qualifications like diplomas and certifications, self-directed digital content, and what it calls community learning. “We approach support and training as a multidisciplinary approach,” says James. The organisation launched Webinar Wednesdays, a weekly series that lets brokers dial in for business-focused content without leaving their desks. But the real shift has been towards immersive, practical application. The FBAA runs workshops where brokers work through problems in real time rather than simply listening to lectures. “We have webinars every week, and we also continued with the workshop-style learning that we started in 2024, so brokers can come to our events and do hands-on workshops on the day,” says James. Mortgage Choice’s Broker Success Program blends on-demand content with live webinars, covering everything from systems and sales processes to compliance and customer experience. “The program is delivered via face-to-face training, group workshops, one-on-one sessions and on-demand learning,” says Waldron. “This hybrid approach creates a collaborative environment and fosters a sense of community where participants can confidently share their learnings and challenges with their peers.” The FBAA has also invested in state-based support staff, recognising that brokers are locally minded and need someone who understands regional nuances. Having access to a physical person when needed matters more than the contact any digital platform can provide. Mortgage Choice encourages new brokers to work out of their local state offices for similar reasons.

Mortgage Choice has focused its recruitment marketing on social and digital advertising, sponsoring industry events and celebrating its talent. “Over the past couple of years, we have certainly seen a shift towards more targeted recruitment marketing,” says Waldron. “At Mortgage Choice we are crystal clear on the types of people we want to bring into our network, and we tailor our approaches to connect with these audiences where they are.” Both organisations are working to improve gender diversity, though they’re taking different approaches. Mortgage Choice runs an Aspire Program specifically aimed at shifting the dial on female representation in broking. “We believe that the broking industry should look more like the Australian communities we live and work in,” says Waldron. “As a leading aggregator, we have an important role to play in creating a more diverse broking industry. That’s why our brand campaigns celebrate the diversity in our network.” The aggregator has run recruitment campaigns targeting women brokers, and sponsored industry forums that drive positive change. The FBAA launched a scholarship program this year, offering 25 new brokers access to business coaching. It also runs webinar series covering foundation topics like reading credit reports and understanding valuations. “Start-up to first 24 months in any business is the most vulnerable time, and that’s when they need the most support,” says James. New Broker Nights provide peer-to-peer sessions where newcomers can meet others in the community for guidance and mentoring. The goal is to create an ecosystem where new brokers find support and connection rather than being isolated in what can be a lonely enterprise.

“Aggregators have a responsibility to help brokers adopt AI through secure and tested tools that enhance, not replace, what brokers do”

Anthony Waldron, REA Group/Mortgage Choice

As the broker ranks swell, so too do their profiles. Joanna James, chief development officer at the FBAA, describes the profession as spanning “new brokers, experienced brokers, brokers in the CBD, brokers in regional areas, brokers who are up and coming, brokers who are really busy, brokers who are running teams, brokers who are solo operators”. Recognising that the industry body must serve brokers ranging from 30-year veterans to newcomers just six months in – often in the same room at the same event – the FBAA has taken more of a choose-your-own-adventure approach to professional development while also doubling its support team over the past 12 months. “When we create our program and our content, we’re very conscious that we have a mixed audience,” says James. Mortgage Choice has taken a different path, concentrating its efforts on structured programs for those critical first 12 months. The aggregator launched its Learning Hub in April, centralising access to all training content. “A new broker’s most valuable asset is their time, which is why this year we’ve focused on initiatives designed to enable our brokers to spend more time with clients,” says Mortgage Choice chief executive Anthony Waldron.

Industry experts

Darren McLeod

Beyond Bank

Fernando Lemos

Bank Australia

Industry experts

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Bank Australia

Fernando Lemos

Beyond Bank

Darren McLeod

Beyond Bank

Fernando Lemos

Bank Australia

Industry experts

Bank Australia

Fernando Lemos

Beyond Bank

Darren McLeod

The three-pronged approach

Anthony Waldron

REA Group/Mortgage Choice

Joanna James

FBAA

Joanna James is chief development officer at the Finance Brokers Association of Australasia and has extensive industry experience in mortgage broking, mortgage management, lending and business growth. A unique and dynamic leader, she is also a five-time bestselling author on Amazon and an internationally recognised mentor and designer. In her role as head of the FBAA’s Artemis forum, she passionately advocates for the advancement of women across the industry. Her mantra is simple: anything is possible when you never give up!

FBAA

Joanna James

Anthony Waldron is the CEO of Mortgage Choice and CEO of financial services at REA Group. With more than 25 years’ experience across financial services and business management, Waldron has been at the forefront of many strategic changes in the broking industry and is a strong advocate for innovation and customer centricity in mortgage broking. He is a director of The Field, an employment platform for people with disability, and Simpology, an end-to-end loan origination platform.

REA Group/Mortgage Choice

Anthony Waldron

The technology race

Published 27 Oct 2025

18,585

Apr 22–Sep 22

19,236

Oct 22–Mar 23

19,456

Apr 23–Sep 23

19,872

Oct 23–Mar 24

22,031

Apr 24–Sep 24

22,265

Extremely familiar

How familiar are Australians with the services offered by mortgage brokers?

Source: MFAA Industry Intelligence Service 19th Edition

40%

35%

30%

25%

20%

15%

10%

Very familiar

Moderately familiar

Somewhat familiar

Not familiar at all

Active mortgage holders

Previous mortgage holders

Non-mortgage holders

Source: FBAA Consumer Access to Mortgages 2025 report

The new wave

Marketing in the digital age

While the generation gap may seem wider these days, given the breakneck speed at which daily work practices are changing, embracing the variety and bringing diverse groups together can lead to valuable knowledge exchange. Experienced brokers learn how technology can increase efficiency and free up time, helping them overcome fear barriers around new tools. Newer brokers benefit from life experience and community connections. “There is nothing quite like life experience and having those community connections where we bring people together. That’s where we’re able to bridge those intergenerational gaps, and they can learn from each other,” says James. If the past few years have been about redefining training, technology and recruitment, the next few will be about something bigger: proving that the mortgage broker of tomorrow will be more professional, more diverse and more indispensable than ever before.

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