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Speaking on the latest episode of Business Accelerator, Broker Essentials founder and broker coach Jason Back said attempting to "future proof" a business was unrealistic in an industry facing constant disruption, arguing brokers should instead focus on becoming "future ready".
Back said the pace of change was no longer simply accelerating, but compounding, leaving brokers to navigate shifting regulation, lender policy, technology and customer expectations all at once.
"We talk about extraordinary times of change, but now it feels like there's a black swan event every six weeks instead of every six years," said Back.
The third party channel has seen a series of significant changes in 2026, including consecutive rate hikes, a rapidly changing technological landscape and a Federal Budget that has fundamentally changed negative gearing, capital gains tax and subsequently self managed super fund lending.
"I suppose the real question isn't whether change is good or bad at the moment for brokers. I think the question that you're really alluding to is really, how do brokers respond to it?"
When change lands
While the broking industry has long been accustomed to changing market conditions, Back said recent policy reforms had created an unusually challenging environment, particularly as lenders interpreted and implemented changes at different speeds.
He said uncertainty had become one of the biggest challenges facing brokers and borrowers alike.
"The challenge at the moment is that because we're being a little bit reactionary, because we've had this sort of period where we don't know certain things and certain policies have been walked back, that makes certainty in a world that we need certainty for compliance and customer outcomes really difficult.
"It's been hard. And I really feel for brokers right now because the consumers are ten times more confused about what's going on.
"A confused consumer in absence of clarity, direction and facts will sit there and do nothing. And that's not a market for anybody."
Back said brokers should resist the temptation to rush to answers where certainty did not yet exist and instead focus on clear communication with clients.
"Where brokers have responded well is that it's not just about disclaiming, but they're having conversations, they're letting people know that there is a period of ambiguity. They can only do so much, but they can do what they need to do within the bounds in which they can do it, and that's all they can do.
"You have to be as confident as you possibly can be in a market that's not confident in the underlying laws."
Controlling internal change
While brokers cannot control external forces such as regulation, interest rates or lender policy, Back said they could control how their own businesses responded.
"I need to be able to think about change in two ways. So there's external change and then there's internal change. There's things that we can't control - interest rates, regulations change, lender policies, the economy, competition, et cetera.
"But then there's internal things. The customer experience, the process, what technology we adapt, our team's capabilities. Focus on what you control."
Rather than resisting change, Back urged brokers to concentrate on improving the parts of their business that would allow them to adapt more quickly.
He also challenged brokers to think critically about the value they delivered beyond simply arranging finance.
"If interest rates never changed, then would clients still value your services?
"If property investors disappeared for two years, how would that affect your business?
"If our revenue model changed... and we had to go to fee for service, would your clients cut you a cheque?
"When you start asking those questions, the truth can come home pretty hard. If you haven't created a value proposition that your clients value beyond the McDonald's style drive through transactional relationship, then it's time to have a really good think about that."
Getting ahead of change
Ultimately, Back argued that brokers should spend less time trying to predict the future and more time preparing for it.
"You don't get ahead of change by predicting it. You get ahead of change by preparing for it."
That preparation, he said, should begin with curiosity.
"Be ferociously curious. Constantly thinking about what consumers are doing, what technology is emerging, what other industries are doing and what you can learn from them."
Back encouraged brokers to continually experiment with new technology, marketing approaches and service offerings, rather than waiting until change forced their hand.
"The best brokers that I work with don't wait until they're forced to change. They're already experimenting with new technology, with new marketing channels, new service offerings... so when the disruption arrives, they've already been learning."
He added that brokers should create time away from the day-to-day pressures of running a business to think creatively about its future.
"At the moment, with all that's going on, create some space for creativity. I guarantee it will be a valuable lesson"
[Related: SME funding realities reshape broker role]
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