A mortgage broker would normally work 38 hours per week, Monday to Friday. Some mortgage brokers work after hours or on Saturdays and some travel to customers' homes or workplaces. They would normally work in an office.
On average, mortgage brokers, classified under financial brokers, can expect to earn between $1 500 and $1 999 per week ($78 000 and $103 999 per year), depending on the organisation they work for, and their level of experience. As a mortgage broker develops their skills, their earning potential will generally increase.
Mortgage brokers need to have some computer skills and will usually work with various software packages.
To become a mortgage broker you usually need to complete a formal qualification in finance and mortgage broking or a related field.
The Certificate IV in Finance and Mortgage Broking is offered at registered training organisations throughout Western Australia.
You can also compete a traineeship. The assistant financial broker traineeship usually takes 24 months to complete.
You can also complete a degree in commerce, majoring in finance, or finance and property.
Most universities in Western Australia offer relevant courses. Contact the universities you are interested in for more information.
You may need to hold an Australian Credit Licence (ACL) in order to work in this field. Contact the Australian Securities and Investment Commission (ASIC) for more information.
Apprenticeships and traineeships
As an apprentice or trainee, you enter into a formal training contract with an employer. You spend most of your time working and learning practical skills on the job and you spend some time undertaking structured training with a registered training provider of your choice. They will assess your skills and when you are competent in all areas, you will be awarded a nationally recognised qualification.
If you are still at school you can access an apprenticeship through your school. You generally start your school based apprenticeship by attending school three days a week, spending one day at a registered training organisation and one day at work. Talk to your school's VET Co-ordinator to start your training now through VET in Schools. If you get a full-time apprenticeship you can apply to leave school before reaching the school leaving age.
If you are no longer at school you can apply for an apprenticeship or traineeship and get paid while you learn and work.
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If you think you already have some of the skills or competencies, obtained either through non-formal or informal learning, you may be able to gain credit through recognition of prior learning.