simplyaskit meets Mortgage Broker Rogan Yates from YBR Sydney CBD

Welcome Rogan

What service do you provide, Occupation?

I am the Director of a Financial Services business that offers Home Loans, Financial Planning & Insurance.

What is the name of the business?

Yellow Brick Road Sydney CBD

Where is the business located?

Bligh St Sydney CBD right in the middle of Sydney’s Financial District.

How long have you been in the finance industry?

Since 2001

Is there any particular part of the finance industry you specialise in?

Mortgage Broking is my specialty

Have you been able to create a point of differentiation from other Mortgage Brokers, how do you stand out from the crowd?

I actually hope this isn’t my point of difference however my business has been absolutely built on doing what is right for the client. My mantra has always been “put the client’s needs first and all will work out well from there”. Being honest and efficient are qualities that should naturally flow from that mantra as well

What role does communication play in helping you operate a successful business?

With communication in relation to our clients I need to assess what type of personality I am dealing with…obviously if the client is a first time buyer or is nervous about the transaction it would be required they need to be updated regularly on the progress of their application, however some of my long term clients who I have built up years of trust with don’t have the need for me to bother them unless required. In other words, the importance of communication is based on the client. Note the key with the clients that don’t like to be bothered with the process is to make sure their needs are properly understood up front and communicating that I understand them clearly is very important.

In relation to the importance of communication with my staff, it is absolutely essential. Communication provides the emotional connection required to ensure we are all on the same page working towards the same goal. As the leader of the business, I need to take responsibility for leading by example in areas of enthusiasm, integrity, and honesty.

What would you say to first home buyers who are struggling to get into the property market?

The reality is that First Home Buyer’s ability to buy is greatly affected by two main points”

1. Is the Government offering any form of Government Grant and Stamp Duty exemption/discount or

2. Does the first home buyer have relatives that are willing to offer security to assist with the deposit/purchase?

I would say to a first home buyer to investigate if these points are relevant to them and if not a strict budget is the only way to get started. Putting savings in an account that is not the same as their weekly spending account is in my opinion just about the only chance you have….what you can’t see or get your hands on when you are out and about gives you a chance of not spending it!

What’s the most important lesson you’ve learned in business?

Absolutely the best lesson I have learned is that people like to do business with people they trust and like.

What’s the best piece of advice you’ve received?

Mark Bouris once said to me “mate you are the expert… get the knowledge and skill of what you are doing and guide your customers through the process”…I took confidence from this as I understood it to mean, understand what you are doing, be honest and advise the client accordingly. I think this is good advice for brokers just starting out who initially have doubts about their knowledge and ability.

What are your favourite hobbies?

As I’ve got older my hobbies have been narrowed down to a love of financial markets, both forms of Rugby/Rugby League and hanging out with my wife and two boys (with another one on the way)….especially on overseas holidays!

If you’d like to know more about Rogan’s advise and expertise click