She started from scratch and made it without relying on a franchise brand
Brokerage owner was able to build a business with intrinsic goodwill value via various online digital platforms
- 2018 Commercial Lenders Roundtable
- Top 10 Brokerages 2018
- 2018 Brokers on Aggregators
People continue to trust brokers because they’re willing to go the extra mile. And that goes beyond working on weekends.
Home Loan Experts senior mortgage broker and 2018 MPA Young Guns finalist Jonathan Preston demonstrates this commitment by not merely providing people with a loan that fits their specific need but also educating them about the implications of their potential purchase so they can make informed decisions.
“I help clients understand how a property can affect them from a financial standpoint, noting that buying a property can be a very emotional undertaking, yet it is important to remain rational and think about the financial implications of what they are buying — how much they are spending, and how much they are financing,” Preston told MPA.
“For many, this is the largest asset they will acquire in their lives, and it may end up making a significant difference to their strategy when it comes to retiring down the line in terms of potentially downsizing or the financial legacy they intend to leave for their children.”
No stone unturned
Before entering the broking industry, Preston worked as a propriety trader for several financial trading companies, and managed funds for an investment firm. He started working full-time at age 17 and began investing when he was around 20 years old. For roughly twelve years already, Preston has been investing in equities and properties. He owns five properties to date.
Preston’s knowledge in investing deepened by having a high net-worth group of close friends, which includes a senior funds manager for a Swiss private bank, marketing directors for huge companies and a founder of one of Sydney’s largest hospitality groups.
Upon becoming a broker, Preston makes sure he leaves no stone unturned when prepping a loan application. He takes time to fully understand a client’s goal and discusses the application at length with banks to get them to approve it.
“This gives assessors enough comfort to sign off on extremely complex transactions that stretch boundaries,” Preston said.
He recently wrote a four-page submission document for someone who owns 12 properties, some of which are commercial. The notes alone of the complex case were so detailed it took Preston 10 hours to accomplish, but in the end, the assessor understood the entire deal and didn’t ask a single question.
As Preston continues to earn success, his team grows. “No one ever became big by themselves. It requires a team and having employees has been the most amazing change I've ever encountered in my life,” he said.
Keeping it straightforward
Preston runs two investment podcasts, the Australian Property Podcast and the SMSF Podcast, wherein he discusses investing from a conceptual standpoint, general financial theories and industry news.
Preston considers his podcasts a key point of influence and wants to keep them honest. “I tell people whether a transaction will work or not based on gut feelings, or if I had handled something similar before,” he said.
“I can only work with the experiences I have, but at least I share my honest opinion…I think people appreciate the straight forward approach.”
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