AMA winner Brad Quilty explains how overcame the odds to set up his own brokerage and reach great heights in a short time frame.
Tungsten Home Loans director Brad Quilty and his team took out the award for New Brokerage of the Year at last year’s AMAs. He talks family business, how to get a new brokerage off the ground, and working from home in his PJs.
Tungsten Home Loans may be a relatively new operation, but its director, Brad Quilty, had several years of grounding working for major mortgage broking operations under his belt before deciding to go it alone.
“I started in July 2009,” he explains. “I was with Aussie for 16 months, then Elders Home Loans for a further 18 months before starting my own brokerage, Tungsten Home Loans, with my fiancée, Micarla.”
It’s a decision that has proven to be a fruitful one, with Tungsten going on to win the AMA for New Brokerage of the Year at the 2013 AMAs. Behind this success, says Quilty, is a people-focused business philosophy.
“Right from day one it was more about helping people than about finance. So when a client calls up to say thanks, that is what keeps me passionate. It’s a good feeling,” he says.
Given this ethos, when asked what he’d be doing for a living if he wasn’t a mortgage broker, Quilty elects for financial planner – as he likes the idea of helping people into a better position. “Although the amount of compliance paperwork those poor guys have to do is a bit crazy,” he adds.
In terms of training, Quilty underwent a two-week Cert IV training course with Aussie in Sydney, followed by completing the full diploma. Other than that, he conducts his own industry research and praises professional development days held by his aggregator, PLAN.
Work-life balance
While Quilty doesn’t feel like he has a good work-life balance, he has managed to plan his time so that nowadays he doesn’t work weekends – apart from the occasional phone call or email.
“During the week, Monday through Friday – including Monday to Thursday nights – I’m working. My clients take priority because I like to be there ASAP when they need a loan to get underway, specially purchases,” he explains.
Plus, working from home allows him to spend time with his children and partner, which, Quilty adds, feels a lot better than being sat in an office. That said, Quilty concedes that anything that he labels as ‘life important’ needs to be in the diary, or he could end up booking a work-related appointment over the top of it.
While working from home and spending time with family may sound idyllic, Quilty has had to overcome significant challenges during his mortgage broking career.
“When I began, in the middle of the GFC, nearly every single deal was LMI declined, so that was pretty challenging,” he says, adding that developing a client base to send referrals his way was paramount.
Nowadays, however, the challenge is time management.
“I’m trying to streamline my processes to give myself more time to deal with clients and phone calls and emails that just continue to stack up if I am in a client meeting. I’m sure it [the next challenge] will be something different once that is sorted out.”
Customer service
When it comes to lead generation, Quilty estimates that 90% of Tungsten’s leads come from referrals, with existing clients passing on the company’s details to friends, colleagues and family.
“We find that as long as we provide a thorough service, with plenty of touchpoints and communication, that keeps the clients happy with us, and they continue to tell others about us,” he says.
And the best part of the job? For Quilty it’s settlement time, when he can ring the client to congratulate them and experience first-hand how happy they are with his company’s service.
“When we see repeat clients and it’s like catching up with an old friend, that’s always great too,” he says.
Aside from the satisfaction that comes with developing lasting relationships with happy clients, Quilty cheekily adds that being able to work from home in his PJs is also something of a job highlight.
Looking ahead
Now that he’s well established within the industry, Quilty’s looking to use his experience to guide new brokers into the profession. To this end, he’s signed up to take the MFAA Certified Mentor course this year.
“We are looking to get a few more brokers under the Tungsten brand, and may even open up offices in other cities,” he says.
Tungsten Home Loans may be a relatively new operation, but its director, Brad Quilty, had several years of grounding working for major mortgage broking operations under his belt before deciding to go it alone.
“I started in July 2009,” he explains. “I was with Aussie for 16 months, then Elders Home Loans for a further 18 months before starting my own brokerage, Tungsten Home Loans, with my fiancée, Micarla.”
It’s a decision that has proven to be a fruitful one, with Tungsten going on to win the AMA for New Brokerage of the Year at the 2013 AMAs. Behind this success, says Quilty, is a people-focused business philosophy.
“Right from day one it was more about helping people than about finance. So when a client calls up to say thanks, that is what keeps me passionate. It’s a good feeling,” he says.
Given this ethos, when asked what he’d be doing for a living if he wasn’t a mortgage broker, Quilty elects for financial planner – as he likes the idea of helping people into a better position. “Although the amount of compliance paperwork those poor guys have to do is a bit crazy,” he adds.
In terms of training, Quilty underwent a two-week Cert IV training course with Aussie in Sydney, followed by completing the full diploma. Other than that, he conducts his own industry research and praises professional development days held by his aggregator, PLAN.
Work-life balance
While Quilty doesn’t feel like he has a good work-life balance, he has managed to plan his time so that nowadays he doesn’t work weekends – apart from the occasional phone call or email.
“During the week, Monday through Friday – including Monday to Thursday nights – I’m working. My clients take priority because I like to be there ASAP when they need a loan to get underway, specially purchases,” he explains.
Plus, working from home allows him to spend time with his children and partner, which, Quilty adds, feels a lot better than being sat in an office. That said, Quilty concedes that anything that he labels as ‘life important’ needs to be in the diary, or he could end up booking a work-related appointment over the top of it.
While working from home and spending time with family may sound idyllic, Quilty has had to overcome significant challenges during his mortgage broking career.
“When I began, in the middle of the GFC, nearly every single deal was LMI declined, so that was pretty challenging,” he says, adding that developing a client base to send referrals his way was paramount.
Nowadays, however, the challenge is time management.
“I’m trying to streamline my processes to give myself more time to deal with clients and phone calls and emails that just continue to stack up if I am in a client meeting. I’m sure it [the next challenge] will be something different once that is sorted out.”
Customer service
When it comes to lead generation, Quilty estimates that 90% of Tungsten’s leads come from referrals, with existing clients passing on the company’s details to friends, colleagues and family.
“We find that as long as we provide a thorough service, with plenty of touchpoints and communication, that keeps the clients happy with us, and they continue to tell others about us,” he says.
And the best part of the job? For Quilty it’s settlement time, when he can ring the client to congratulate them and experience first-hand how happy they are with his company’s service.
“When we see repeat clients and it’s like catching up with an old friend, that’s always great too,” he says.
Aside from the satisfaction that comes with developing lasting relationships with happy clients, Quilty cheekily adds that being able to work from home in his PJs is also something of a job highlight.
Looking ahead
Now that he’s well established within the industry, Quilty’s looking to use his experience to guide new brokers into the profession. To this end, he’s signed up to take the MFAA Certified Mentor course this year.
“We are looking to get a few more brokers under the Tungsten brand, and may even open up offices in other cities,” he says.
