Kate Barnes’ (pictured above) journey with Aussie Home Loans highlights resilience, dedication, and the ability to adapt to industry changes while fostering strong client relationships.
Kate Barnes joined Aussie Home Loans as a mobile broker in March 2001.
Her career progressed significantly when she opened the first South Australian Aussie franchise in West Lakes in 2006.
Initially operating the business alone, she later partnered with other skilled Aussie franchise owners in 2016 to scale up.
“The business partners and I continue to work together, albeit within a varying format,” Barnes says.
Barnes highlights the implementation of best interest duty (BID) and responsible lending guidelines as the most positive developments in mortgage broking.
“I believe this allows the industry to act at a level playing field, as each of us are legally bound to provide each customer with a lender or product that’s within the customer’s best interests,” she says.
The transition from low fixed rates to current variable rates poses significant challenges.
Barnes proposes maintaining strong customer relationships and proactively reviewing loan options before fixed rate periods expire.
“I have consciously ensured each customer is fully aware of the additional costs they are going to encounter by being proactive in calling them,” she says.
Opening the Aussie West Lakes Franchise in 2006 stands out as both a memorable and challenging experience for Barnes.
The excitement of opening the first Aussie Home Loans franchise store in South Australia was soon tempered by the Global Financial Crisis (GFC) in 2008.
“The GFC impacted interest rates, which had the flow-on effect of decreasing borrowing capacity and property values,” she says.
Despite the challenges, Barnes cherishes the long-term relationships she’s built with clients, helping them purchase homes and eventually discharge their loans.
“I take pride and reassurances that helping those customers from the early days, and now helping their children/grandchildren into their first homes as a job well done,” she says.
Barnes advises aspiring brokers to value communication and maintain professional relationships with clients. She also underscores the importance of a strong referral network, including friends and family.
“You cannot underestimate the value of communication and staying connected with your clients to maintain a professional relationship,” Barnes says.
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