One of the biggest challenges mortgage brokers face as their business grows is knowing when to hire. Bringing on team members too early can create financial pressure, while waiting too long can lead to burnout and missed opportunities.
A practical way to approach hiring is to link team growth directly to settlement volume. As loan volumes increase, certain operational tasks begin to consume more time, making it harder for the broker to focus on business development.
By following a simple hiring framework tied to settlement milestones, brokers can scale their business more confidently while maintaining strong service levels.
The Capacity of a Solo Mortgage Broker
In many cases, a solo mortgage broker can manage around $5 million in monthly settlements on their own. This typically includes handling client meetings, structuring loans, managing applications, coordinating with lenders, and completing settlements.
At this level, brokers often find themselves extremely busy. The workload is manageable but leaves limited time for activities that actually drive future growth, such as marketing, referral partnerships, and new client acquisition.
Once a broker consistently reaches around $5 million per month in settlements, it is often time to consider the first hire.
The First Hire at $5 Million Per Month
The goal of the first team member is simple: free up the broker’s time so they can continue growing the business.
Depending on the financial position of the brokerage, there are two common options for the first hire.
If the business has strong cash flow, hiring a credit analyst can be a powerful move. A credit analyst can handle loan assessments, lender policy research, application preparation, and submission management. This removes a significant portion of the technical workload from the broker.
If cash flow is more limited, a support or administrative team member can still create meaningful leverage. This person may assist with documentation collection, client communication, file organisation, and settlement coordination.
While the roles are different, the objective remains the same: remove time-consuming operational tasks from the broker’s schedule.
The Second Hire at $8 Million Per Month
As the business continues to grow and settlements approach $8 million per month, the workload typically expands again. At this point, adding a second team member helps stabilise operations and prepares the brokerage for further growth.
The type of second hire often depends on who was brought in first.
If the first hire was a credit analyst, the second hire should typically be a support or administrative team member. This creates a balanced structure where operational and administrative tasks are both covered.
If the first hire was a support person, the second hire should often be a credit analyst. This allows the business to strengthen its technical processing capacity while maintaining administrative support.
With these two hires in place, the brokerage begins to operate as a small team rather than a solo practice.
Building the First Scalable Team
At this stage, the broker can focus more heavily on the activities that drive revenue growth.
Instead of managing every step of the loan process, the broker can prioritise:
Client strategy and loan structuring
Marketing and brand visibility
Building referral partnerships
Sales conversations with new prospects
Strengthening relationships with past clients
Meanwhile, the support team handles much of the operational workload behind the scenes.
This structure creates the foundation for scaling toward consistent $10 million settlement months.
Growing From Solo Broker to Small Team
The transition from a solo operator to a small team is one of the most important stages in building a sustainable mortgage brokerage.
By linking hiring decisions to settlement milestones, brokers can avoid guesswork and ensure that each new team member contributes directly to the business’s capacity for growth.
Many brokers refine their hiring strategy with the help of a business coach for mortgage broker professionals, who can assist with team structure, workflow design, and scaling systems. For more insights on growing and structuring a successful brokerage, visit the <a href=”https://brokercoach.com.au/”>Broker Coach homepage</a>.
A Practical Path to $10 Million Months
Growing a mortgage brokerage does not always require a large team from the start. In fact, a simple structure can take a business a long way.
A solo broker can often reach around $5 million in monthly settlements. Adding the first team member at that point helps unlock more capacity. Introducing a second team member, with around $8 million in monthly volume, provides the support needed to maintain service quality while continuing to grow.
With the right structure in place, the journey from a solo broker to a small team capable of handling $10 million settlement months becomes far more achievable
