Blog

Chapter 54: Commit. Perform. Measure

An excerpt from Volume 2 of Be the Better Broker.  Commit. Perform. Measure. We are what we repeatedly do. — ARISTOTLE As a mortgage Broker, your whole world is numbers. In Volume One we spoke of ‘the four-point system’ for winning and retaining clients, as set out in the book How to Become a Rainmaker […]

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The Amortization Effect

The Amortization Effect Each year from 2008 through 2010 the Federal Government reduced the maximum amortization as follows. Purchases with less than 20% down –from 40–35 years, then 35- 30 and finally 30–25 years where it remains today. Purchases with 20% or more down were cut from 40–35 years, and then from 35 – 30 […]

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FICOM & The Form 10 Disclosure Decision

What follows is an exact copy of the letter that I wrote and submitted to FICOM on February 20th for their review and consideration. No doubt hundreds of other Brokers wrote similar letters. On March 30, 2016 FICOM announced that they are moving forward with enhanced disclosure, despite the feedback from Brokers such as the […]

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Business and Buddies

An excerpt from Volume 1 of Be The Better Broker. ‘My best friend is a Realtor — it’s a built-in shortcut!’ Uh, wrong. In the early days of your career, any long-standing friendships you may have with top-producing Realtors are unlikely to translate into new clients for you. This can cause a rift in the […]

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Help! It’s a Mortgage Emergency!

An excerpt from Volume 1 of Be The Better Broker. It has been said there’s no such thing as a mortgage emergency. We Brokers may know that no underwriter is going to be reviewing documents late at night or over the weekend. However we also know from experience that responding to those late phone calls […]

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Invest in Yourself!

An excerpt from Volume 1 of Be The Better Broker. Invest in Yourself Too many new Mortgage Brokers view a commission cheque as their paycheque. It is not their paycheque. It is the gross sales revenue of their business. The commission cheque belongs to their personal business, an important differentiation to live by. A Broker […]

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Carpe Momentum!

An excerpt from Volume 1 of Be The Better Broker. Early on in my Mortgage Brokering career I attended almost every real estate-related or finance-related event I could find in our city. I showed up ready to walk the walk, clean shaven, sporting one of my $99.00 suits, with a pocketful of classy business cards. […]

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Be a Go-Giver

An excerpt from Volume 1 of Be The Better Broker. During my first few months as a licensed Mortgage Broker, I called on ten top producers in our company. Each made time for me, which in itself made a lasting and influential impression. It was interesting how far ranging each of their personal styles was. […]

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Pursue Excellence

An excerpt from Volume 1 of Be The Better Broker. You would be hard-pressed to find a top-performing athlete in any sport who decided as a kid he wanted specifically a $6-million-a-year contract, so then he mastered baseball, hockey or basketball. In fact few top performers are driven to excel by the money. They simply […]

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Renewals: A new-to-me approach

An excerpt from Volume 1 of Be The Better Broker. With ~1.1M privately owned properties in BC, about 50% of which have mortgages on them, there are arguably more than 100,000 renewal transactions up for grabs in my home province each year. This is a significantly larger market than purchase transactions, and one with far […]

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