Our founders started as brokers, and we pride ourselves in offering our members flexible and competitive commission models that suit your business needs. We understand that every mortgage broker’s business is unique. Therefore, we offer a diversified range of commissions from our lenders to suit the needs of our members.

The first model is called the “Bosun Broker” commission split model, which offers our members a split commission rate ranging from 85% – 95% based on their settlement volume.

So as your business grows, so will your rewards. This model incurs a low monthly fixed costs, which includes the software and compliance fees. These costs cover essential services such as access to software tools and compliance fees. These fixed costs are designed to be affordable and predictable, ensuring that members receive a fair commission rate even after covering their expenses.

Bosun Broker is a flexible commission structure that allows members to earn a higher share of their commissions as their settlement volume increases, all while maintaining affordable and predictable monthly fixed costs. 

The second model is the “High Seas Broker” flat fee model. High Seas Broker provides the maximum percentage of commission received by Hai Money and our members can enjoy a higher profit margin for Hai Money’s self-diversified lending product.

In this model, members will be required to pay a flat fee each month along with a low monthly fee, which includes the software and compliance fee. The primary focus of this model is to maximize the commission received by our members.

Finally, we offer the “Hai Star Broker” mentor programme for those new to the mortgage brokerage industry. This model provides ongoing mentor training for the first two years, helping individuals successfully transition into qualified mortgage brokers. Members under this model must pay minimum software, compliance, and mentor fees.

We are committed to helping our members succeed and grow their businesses. Be assured that we will always be transparent and upfront about our commission rates and will strive to help you maximise your earnings.

Flexibility and Ownership

We won’t restrict you with lock-in contracts and you can leave at any time without penalty. 
Do business your way—because you’re not locked in to fixed-term contracts, we’re constantly driving yourself to deliver better and innovative products and services to our brokers so that you achieve your ongoing business goals.

When you partner with Hai Money, you’ll own your trail book. Receive accurate and on-time commissions for the life of your membership, and if you choose to leave us, you’ll take your trail book with you. You’ve worked hard for your commissions, and it is only fair that you retain them.

Understanding Mortgage Broker Commissions and Fees

Are you curious about how mortgage brokers are compensated for their services? Delve into the world of mortgage broker commissions and fees to uncover how these professionals earn their income.

Mortgage brokers play a crucial role in helping individuals secure home loans, but have you ever wondered how they get paid? In this article, we’ll explore the various aspects of mortgage broker compensation, shedding light on commission rates, fees, and more.


How Do Mortgage Brokers Get Paid?

Mortgage brokers receive compensation through several channels, and understanding these methods is essential for both borrowers and brokers.


Mortgage Broker Commission Rates

One of the primary ways mortgage brokers earn income is through commission rates. These rates vary, but they typically range from 0.5% to 2.75% of the loan amount. Brokers receive this commission from the lender when they successfully connect a borrower with a suitable mortgage.


Trail Commission

Trail commission is another source of income for mortgage brokers. Unlike upfront commissions, trail commissions are paid over time, usually on a monthly or yearly basis. These commissions provide brokers with ongoing income for the duration of the loan.


Upfront Commission

Upfront commissions are paid to brokers when a loan is settled. This commission is a one-time payment typically a percentage of the loan amount. It compensates the broker’s initial work in securing the mortgage.


Broker Fees

In addition to commissions, mortgage brokers may charge fees for their services. These fees can vary and may cover administrative costs, credit checks, or other services rendered during the loan application process. It’s essential to clarify any fees with your broker before proceeding.


How Much Do Mortgage Brokers Earn?

The income of mortgage brokers can fluctuate widely depending on various factors, including the loan amount, commission rates, and the number of loans they facilitate. On average, mortgage brokers can earn from $50,000 to $150,000 or more annually. However, top-performing brokers with a robust client base can earn significantly more.


Mortgage Broker Commission Rates in Australia

In Australia, mortgage broker commission rates may differ due to regulatory changes. Historically, brokers received commissions from lenders, but recent reforms have shifted the responsibility of commission payments from lenders to borrowers. This change aims to promote transparency and reduce potential conflicts of interest.


Average Mortgage Broker Commission

The average mortgage broker commission can vary, but as mentioned earlier, it typically ranges from 0.5% to 2.75% of the loan amount. This means that for a $300,000 loan, a broker’s commission could be anywhere from $1,500 to $8,250.


Understanding the Costs

While mortgage brokers provide valuable services, it’s essential to be aware of potential costs. Broker fees, if applicable, should be discussed upfront to avoid surprises. Additionally, borrowers should understand how commissions may impact the loan terms.

Mortgage brokers are crucial in helping individuals and families achieve their homeownership dreams. Their compensation methods, including commission rates, trail commissions, upfront commissions, and fees, can vary. Before working with a mortgage broker, it’s important to discuss their compensation structure to ensure clarity and transparency throughout the mortgage process.

Empowering Brokers for Success

John Thomson

Director Company ABC

The flexible commission models offered by Hai Money have been a game-changer for my business. I have the freedom to choose the model that suits my needs, whether it's based on settlement volume with the 'Fly-Birds Broker' model or the maximum commission percentage with the 'Boatswain Broker' model. The mentor program, 'Q.S Broker,' has been invaluable for newcomers like me. Hai Money's transparency and upfront approach with commission rates have allowed me to maximise my earnings and grow my business. With no lock-in contracts and the ability to keep my trail book, I feel empowered to do business my way. I highly recommend Hai Money to mortgage brokers seeking flexible commission options and the opportunity to succeed.

Ready to get started?

Start your journey to becoming your own boss and get competitive rewards!

Ready to get started?

Start your journey to becoming your own boss and get competitive rewards!

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