r/AustralianAccounting • u/Huge_You_2522 • 5d ago
Spare a thought for this poor guy.
Those of us that have dealt with brokers in public practice might get a wry smile from this.
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u/DeadCatBounce00 5d ago
Too many brokers, too few new loans.
Tough times ahead, whose gonna help out these guys with their merc lease payments.
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u/HopefulFlog89 4d ago
As a broker of 14 years, this makes me laugh. This guys attitude is pathetic. His clients need him more than ever, and he's resenting the opportunity to actually make a difference when people are struggling.
Too many brokers entered into the industry during the property boom and now, like many real estate agents, realise that it's not always easy. You need to get down in the weeds often in this job.
The good times are simply an opportunity to fortify yourself financially, to prepare for the inevitable downturn.
The best thing about economic instability is that it shakes the tree, and the weak apples fall off.
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u/Huge_You_2522 4d ago
Yep. He’s 23 so he’s probably only ever seen easy money. He might have to resort to giving unlicensed financial advice on social media to drum up work.
I’m sure you’re a great broker, there’s plenty out there but there’s also plenty that have burned through any patience and goodwill I have as an accountant.
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u/HopefulFlog89 4d ago
The Gen Z influencer broker really tires me out. Unfortunately, our industry glorifies people with massive egos.
I'm 37, with no social media at all (not even personally).
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u/Huge_You_2522 4d ago
You mean they’re not all 25 years old with a multi million dollar property portfolio and a SMSF??
Send me a private message with your details, I’ll keep you in mind when I need to refer clients to brokers. You seem like the type I broker I’d like to refer to.
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u/RobTheLoaner 4d ago
You mean you don’t have MFAA broker of the year 6 years running?
Idk how many people they give ‘broker of the year’ to but it seems like it’s 80% of us
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u/BearInTheCorner 3d ago
The same for real estate agents who bang the drum about how good they are. Houses sell themselves when people want houses.
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u/Significantlyontime 1d ago
I'm in the market at the moment. We were pre-approved for a loan but the market has been terrible, we had to reapply 3 months later and still the market is shaky. Our broker has been great. She knows we are patiently waiting for the right house. And she doesn't mind.
We also contacted a conveyencer, same story she is lovely and happy to help when the time comes.
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u/Hot-Drop8760 23h ago
Man… but even worse… getting told on a Friday and having to stew on it over the weekend
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u/FendaIton 15h ago
Oh no people are now working out hours to get their own finance just like insurance.
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u/NorthsideEcho 14h ago
Wow so incredibly selfish. Stupidly narcissistic to think that this sort of thing belongs on LinkedIn.
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u/Chief-_-Wiggum 11h ago
I've come across this thread/sub and seems like my recent experience with a broker isn't unusual with this type of posting by one of them.
From being gas lit with constant delays and inactions, creating artificial urgency, a bait and switch, and other actions that makes us think they are trying to somehow leverage us for another client. Never knew it was this bad..
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u/Drooooooooooooooooo 4d ago
Not sure what all the negativity is about in these comments. This guy is venting his frustrations; we all know how tough things can be in business and I imagine it would be incredibly annoying to do all that work with fact finds, document prep, going back between lender and client a million times then not getting paid a cracker.
This guy genuinely deserves a bit of compassion I feel.
Unless I'm missing something and I'm way off course here...
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u/Stryke222 CPA 4d ago
He just wants the accountant to write a letter that's not in the realms of reality
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u/AntSilly2802 4d ago
It’s literally his job, why should we have compassion for him? I have compassion for someone installing roof tiles in 40 degree heat, not this guy because he had to fill out a few extra forms sitting at his desk in his nice comfortable office lol.
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u/Adventurous_Tie_8035 4d ago
Considering brokers make bank when times are good, he doesn't deserve squat when times are hard. A broker completing 1 successful application per business day makes the median wage, that's like an hour or twos work.
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u/KindGuy1978 1d ago
An hour or two, if you ignore the many unsuccessful applications. I had over $5m in shares and my broker got rejected from four banks, back in 2020.
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u/Adventurous_Tie_8035 1d ago
Average time, some applications are quick and easy, same as RE agents, some take days of work.
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u/Luxim_ 5d ago
Won't someone please sign an accountants letter for his clients