011: Rethink Financing - Son Pham - Growing Through Commercial Lending

Building a successful brokerage is not just about writing more volume. It’s about building the people, systems, processes and expertise that allow the business to keep progressing as it grows. In Episode 011 of Brokers in Progress, we sit down with Son Pham of Rethink Financing, who has been a broker since 2011 and has helped grow Rethink from a predominantly residential brokerage into a business with around 30 people, including 19 brokers, settling around $1 billion last year. Son shares how Rethink expanded into commercial lending, why building the right systems and processes became essential as the business grew, and how the team has created a more structured approach to managing increasing volume and complexity. In this episode: → How Rethink expanded from residential into commercial lending → How Son's "conveyor belt" approach helps build systems that support growth → Why Son believes he should have hired earlier and learned to delegate → How real deal scenarios and lender relationships help brokers develop commercial expertise → Why solution-based broking means finding the right lending structure, not just the lowest rate Whether you’re looking to move into commercial lending, building a team, improving your systems, or working out how to scale a brokerage without everything relying on you, this conversation offers plenty of practical lessons from Son’s experience building Rethink Financing. 📝Episode Highlights: 00:00 - Why Solutions Matter More Than Rates 00:12 - Inside Son Pham's Rethink Financing 02:15 - The Shift That Opened Up Commercial Lending 03:03 - Running a Brokerage Like a Conveyor Belt 04:20 - The Advantage of Having Services In-House 05:46 - How Bankers Helped Son Learn Commercial 07:44 - Weekly Deal Workshops That Build Broker Knowledge 09:26 - Son's Biggest Lesson About Hiring 12:29 - Treat Every Client Like Your Only Client 18:15 - Turning Residential Brokers Into Commercial Specialists 21:14 - How AI Is Speeding Up Loan Processing 23:15 - Why Commercial Clients Create More Opportunities About the Guest Son Pham is the Co-Founder of Rethink Financing and an experienced mortgage broker with a background in financial planning. Son began his career in financial planning before moving into mortgage broking, initially helping his existing advice clients with their lending needs. He later co-founded Rethink Financing in 2017, initially building the business around residential lending before expanding into commercial finance. Today, Rethink has around 30 people, including 19 brokers, and settled around $1 billion last year, with approximately 70% of the business now focused on commercial lending. Son has played a key role in building the systems, processes and team behind that growth. His experience spans commercial lending, complex deal structuring, broker development and building a brokerage designed to support clients across different parts of their financial and property journey. Connect with Son LinkedIn | Son Pham –   / son-pham-6b765626   Website | Rethink Financing – https://www.rethinkfinancing.com.au/ LinkedIn | Rethink Financing –   / rethinkfinancing   Enjoyed this episode? Subscribe to Brokers in Progress for more real conversations about growth, systems, leadership, and what it actually takes to build a successful brokerage. 🎬Produced by Chris Bates and the studio team at www.alcove.com.au The information provided in this podcast is for general informational purposes only and should not be relied upon as financial, investment, or credit advice. It does not take into account your personal objectives, financial situation, or needs. You should consider the appropriateness of the information to your circumstances and seek advice from a licensed financial adviser, mortgage broker, or other qualified professional before making any decision. Canopy Private Pty Ltd holds Australian Credit Licence 558709.