Why use a broker?

Mortgage brokers, insurance brokers, finance equipment brokers…why use them?

Using a broker service can be hugely beneficial in saving you time, legwork and money in assessing products on the market. As they are considered experts in their field, the job of a good broker is to help narrow down the options and find you “the right solution!”.

Here is a quick guide of things to know when working with brokers.

1. Differentiating among brokers

Brokers come with specific specialties. You may need to engage more than just one to take care of all your property, finance and insurance matters.

For instance, finance brokers deal with credit unions, banks and other credit providers to negotiate loans on your behalf for equipment, commercial premises and other major purchases.

A mortgage broker, on other hand, specialises more on home loans.

Insurance brokers deal more with insurance or coverage options depending on your situation. This can be home insurance, car insurance as well as personal income protection and business insurances like workers compensation and public liability.

2. Understand broker compensation

It is important to understand the fee structure of the broker service you are engaging. Some may not charge you a direct fee for service as they are paid by the lender or solution provider they sell for.

For example: a mortgage broker when you get a new loan or an insurance broker for an insurance policy.

There are times a broker may charge you directly instead of commissioning off the plan or product you have purchased. Always find out!

3. Only work with a licensed and reputable provider

As with any local service provider, you should always do your research to ensure you are only working with a reputable operator. Ask questions about their:

• • years of working experience
  • client references
  • areas of expertise
  • License details and records, checking appropriately registered.

Need help finding the best local mortgage broker?

Did you know Tradebusters Connect powers the Sydney Top 3 Local Choice directory? Unlike other directories, the businesses listed on this directory undergo a interview and screening process for your peace of mind.

From local tradies, real estate, property and finance service providers, we’ve got you covered with genuine recommendations.

See who got Top 3 Spot?

Mortgage Brokers Sydney Blacktown

Mortgage Brokers Sydney Inner West

Mortgage Brokers Sydney Northern Beaches

Mortgage Brokers Lower North Shore Sydney

Mortgage Brokers Upper North Shore Sydney

Bondi Junction Mortgage Broker

Mortgage Broker Rouse Hill

Mortgage Broker Hornsby