With more than two decades of experience, Wally Ayad (pictured above), director at Mortgage Providers and Ijarah Finance, stresses the importance of training, human interaction, and finding one's niche in the competitive world of finance.
Ayad began his journey into mortgage brokering while at university, purchasing his first investment property. After graduation, he worked in consumer finance before moving into the mortgage industry in 2001.
“It’s been a great journey as I have learnt from the industry, but just as much more from my own clients who I interact with,” Ayad says. “Many clients have become good friends over the years, and the knowledge I have today is only possible because I have mixed with so many people over the years.”
Ayad highlights the importance of licensing and training for brokers, noting the introduction of new mentorship programs and the Best Interest Duty (BID).
“With proper training and guidance, new entrants are now better equipped,” he says.
These developments have elevated the broker profession significantly over the last decade.
Ayad acknowledges the challenges posed by AI and online tools, emphasising the irreplaceable value of human advice.
“Humans cannot be removed from the process entirely,” he says.
“It’s not just about finding the cheapest funding option, but also about providing the right service and meeting customers’ specific requirements. While software can be helpful, it doesn't always provide the human experience that some customers desire.”
He encourages brokers to collaborate and share knowledge to provide the best service to clients.
Recalling a challenging client, Ayad says, “He knew how to ask questions yet kept challenging any response I gave him.” Despite initial doubts, Ayad secured a fee for his advice and eventually handled all the client's finance matters, leading to a long-term, mutually beneficial relationship.
“Never judge a book by its cover, but at the same time, never sell yourself short,” he says.
Ayad stresses the importance of staying calm and knowledgeable.
“Clients can hear your experience and expertise when you speak with them,” he says.
Finding a niche is crucial for success.
“I have found some strong niche areas where I excel,” Ayad says.
He advises brokers to be prepared to walk away from overwhelming transactions or individuals, maintaining mental balance and personal job satisfaction.
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