Broker in Focus: Larissa Barton, Mortgage Choice Coolum Beach and Noosaville

Broker in Focus is a dedicated series that highlights the unique journeys of mortgage brokers, providing them with a platform to share their experiences, insights, and expertise. Through compelling personal stories and professional reflections, each featured broker recounts the key moments that have shaped their careers, delves into the challenges and opportunities facing the industry today, and shares the valuable wisdom they have gained along the way.

This week, MPA is featuring Larissa Barton (pictured top), Mortgage Choice broker and co-owner of the Coolum Beach and Noosaville franchises, who has carved out a remarkable career in the mortgage industry over the past 23 years. From her early days in a junior role at Locumsgroup to building a thriving business alongside her husband on Queensland’s Sunshine Coast, Barton’s journey is a testament to resilience, adaptability, and a passion for helping clients navigate the complexities of finance. As she reflects on the evolution of broking, the rise of AI, and the lessons learned through both triumphs and challenges, Barton offers a candid look at what it takes to succeed—and thrive—in today’s dynamic mortgage landscape.

Full name: Larissa Barton
Job title: Owner / broker
Company: Mortgage Choice Coolum Beach and Noosaville
Number of years in the industry: 23
Location: Sunshine Coast, Queensland

How and when did you become a mortgage broker?

I joined the mortgage industry 23 years ago after moving from New Zealand to Sydney. I started at Locumsgroup in a junior role, tracking home loan applications. Over the course of my 10 years there, I upskilled in various roles and ultimately left as general manager. Working for Locumsgroup taught me a great deal, particularly about structuring finance. The business also offered accounting and financial advice services, which gave me a comprehensive understanding of how debt functions as a key component in the financial puzzle.

In 2014, after the birth of my first child, I decided to do something for myself and opened a Mortgage Choice franchise in Sydney’s Inner West. My first year in business went really well. Two years later, my husband, Gordon, and I decided to purchase a Mortgage Choice franchise on the Sunshine Coast in Queensland and relocate our family; at the time, our children were only two years old and three months old. Gordon joined me in the business, and over the past nine years, we have grown it to two offices that we own and operate: Mortgage Choice Coolum Beach and Mortgage Choice Noosaville.

We’ve both won awards and thrive working together. We are very aware of how fortunate we are to live and work on the Sunshine Coast. We are the only brokers in the business, Gordon’s strength is in sales and marketing, while mine is in operations and process. I like to say we make a great team. I’ll encourage our children to take over the reins in the future if they are interested in pursuing a career in broking.

In your opinion, what has been the most positive development in broking?

The most positive development is that over 76% of consumers now choose to work with a broker. When I started in 2003, the mortgage broking space was still in its infancy. There were a few aggregators paving the way for the industry, but we all had to spend a lot more time educating clients on why they should use a broker. I’d say even as recently as 10 years ago, we were still doing that. Nowadays, it is so much easier, with the majority of consumers coming to brokers as their first choice.

What challenges do you see currently facing the industry, and what solutions would you propose?

I believe the challenge we face now is gaining a deeper understanding of AI and how we can effectively leverage it to provide a better experience for our customers and drive efficiencies and increased profitability within our businesses.

While AI might provide consumers with options for solutions they are searching for, I believe at the end of the day, people still want to deal with people. Brokers are positioned to continue providing the human connection, guidance, and reassurance. From there, a robust retention and home loan review process (utilising AI) will ensure the retention of these customers and brokers will continue to help lenders reach people and locations that are inaccessible to them.

I see AI freeing me up to focus my time on the important things that I do best: marketing my business, meeting with clients, and enjoying my young family.

Can you share a memorable or challenging experience from your career as a broker and the lessons you gained from it?

I recently  had the opportunity to be part of the new Mortgage Choice “More” TVC. It was amazing to be selected, to see the huge amount of work and resources behind the scenes that go into making a 30-second ad, and to represent the Sunshine Coast!

Challenging experiences have included (since I’ve been doing this so long!) the global financial crisis. I’m sure anyone working in the industry at the time will remember that it was a grim period in finance.

Also, around 2016–2017, it felt like lending became really hard for us on the Sunshine Coast at that time, as if every lender was trying to find a way not to approve an application. However, all challenging events are just a moment in time; they eventually pass, and one thing I have learned is to turn up every day and do my best. It’s all the little bits of daily effort that gain the momentum for success.

Could you share any valuable advice for individuals aspiring to become brokers or those new to broking?

I would encourage new brokers to work in a brokerage for one to two years to learn the craft because it just takes time to learn what you need to know.

In my experience, when you first start out, the phone doesn’t just ring and the leads don’t just flow in the door. Ensure you have a good marketing strategy in place to generate enquiries. For us, the rubber didn’t hit the road until we were three years in business—there were a lot of sleepless nights thinking, ‘What have we done?!’ But that’s just business for everyone. Understand that, realistically, it will be a challenging and demanding experience for the first one to three years.

Everyone seems to focus on settlement volumes. High settlements for the sake of high settlements don’t always equal profit. Keep an eye on where the profitability is.

I would also encourage any new entrants to the industry to become experts in AI and embrace this opportunity to get an advantage.

On a positive note, broking is an incredibly rewarding business to be in. It’s fast-paced, and it really is good fun if you are a numbers and people person. I love it and highly recommend it!

Broker in Focus is a weekly MPA feature spotlighting mortgage brokers from diverse firms and locations across Australia. Among those recently featured are Kathy Dundas of No Fuss Home Loans, John Tindall of Accumulus Home Loans, Luke Serra of Loan & Finance Brokers, David Meadows of Meadows Advisory, Tom Gu of Aussie Home Loans Chatswood, Tracie Palmer of Cornerstone Home Loans, Harry Green of Low Rate Home Loans, Marisa Schönwolf of CHL Home Loans Leederville, Aimee Bergan of APC Home Loans, and Alya Manji of Aussie Home Loans.

Are you a mortgage broker interested in being featured? Email the author with your details.