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Mortgage Broker News | 16 May 2011, 09:30 AM Agree 0
A slowing, yet increasingly competitive Canadian market will not only cull the number of new entrants to the broker industry but thin the existing ranks by as much as 5 per cent, a veteran mortgage professional told MortgageBrokerNews.ca.
  • Angela Wong-Liao AMP - Invis Inc | 17 May 2011, 04:58 AM Agree 0
    In my opinion, the shrinking of the real estate business could be advantages to veteran mortgage professionals who have a good clientelle base and hopefully will reduce the number of new and part time mortgage professionals, especially mortgage professionals who are both realtors and mortgage brokers.
  • Elfie Hayes | 17 May 2011, 07:07 AM Agree 0
    I believe that a toughening market has always weeded out those who think this is an easy business. For those who have built a database, stay top of mind with existing clients and change their marketing to drive new business the changes will help them do more business. I embrace change and this will just make the agents who are committed to this business even better. Bring it on I'm ready!
  • David Larock | 18 May 2011, 01:31 AM Agree 0
    One point on market share that nobody seems to be making. Mortgage brokers dominated the sub-prime market which has dropped off dramatically since 2007. If we've lost share over the past couple of years, this is a big reason why.

    Our industry is overcrowded and I agree that some brokers will wash-out, but I think the market share point is somewhat overblown for the reason mentioned above.
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