With a love for numbers and a knack for service, Jason Smyth proves that broking is more than just business.
Smyth’s journey into mortgage broking started long before he officially entered the industry.
“Being a bit of a nerd at school and naturally gifted with numbers, I knew early on that I wanted a career in finance," he says.
However, it wasn’t until his second year at the University of Tasmania that his path started to take shape.
Through a traineeship with Islandstate credit union (which later became MyState), Smyth gained hands-on experience across various departments. His real spark for broking emerged during a stint with The Home Loan Shop.
“These people are really switched on, seem to be very happy (mostly!) and certainly knew how to have a good time,” Smyth says.
Watching customers leave with smiles after initially walking in anxious inspired him to pursue broking full-time.
After gaining further experience with Tassie Home Loans, he went on to work with Bennetto Finance before launching his own venture, Smyth Loan Co.
“I count myself as very fortunate having worked with three very good brokerages... fantastic achievements, unforgettable experiences, and lifelong friendships were made,” he says.
When asked about the biggest positive development in broking, Smyth highlights technology’s impact.
“COVID-19 certainly brought about change to our industry and pushed most of us towards becoming more digitally minded,” he says.
Smyth has fully embraced the digital shift, running a paperless operation.
“Having documents, old emails, loan contracts, etc., at my disposal with a click of a few buttons is terrific,” he says.
Smyth emphasises how technological tools, such as video meetings and aggregator platforms, have streamlined the way brokers work today.
“Time is money, after all,” he says.
Smyth believes technology will continue to evolve, and brokers who don’t embrace these advancements will be left behind.
“Looking back at when I started broking in 2013, we have come a long way,” he says.
Smyth points to rising competition from digital lenders and direct platforms as a significant challenge.
“Banks are throwing huge amounts of money setting up and improving their digital lending platforms to try and win back market share,” he says.
With AI advancing, digital lenders can offer fast, affordable solutions that might reduce the need for traditional brokers.
However, Smyth insists that personal relationships remain key.
“Since the royal commission, people seem to increasingly trust us as brokers over any bank,” he says. “We are people at the end of the day, banks are seen as corporate machines hungry for their billions in profits.”
To stay relevant, Symth advises brokers to utilise new digital tools to enhance their services.
“Personalised advice and relationship-building will always remain key differentiators that we need to keep pushing,” he says.
Smyth recalls one particularly challenging but rewarding moment during his time with Tassie Home Loans.
In October 2019, he managed a stall for the HomeShare program at the “Housing Helps the Homeless” expo – solo.
“A substantial queue had formed… the line stretched across City Hall, out the door and onto the street,” he says.
Despite the overwhelming demand, Smyth powered through. Near the end of the day, he received an unexpected pat on the back from then-Premier Will Hodgman.
“He said, ‘bloody good job – I couldn’t have done that,” Smyth says.
Reflecting on the experience, Smyth realised how deeply people from all walks of life aspire to own a home.
“Whilst it was hard work, I felt appreciated by all I spoke with that day... but vowed next time never to do anything like that again on my own,” he says.
Smyth offers practical advice for those starting in broking:
At the heart of Smyth’s advice is the importance of kindness and clarity.
“At the end of the day ... as long as you are good to people, are approachable and clear with instructions, are honest and respond in a timely manner, you’ll be alright,” he says. “A joke here and there also helps, too.”
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