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Precedent finding in broker 'espionage' conflict

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Mortgage Broker News | 31 Jul 2012, 12:00 PM Agree 0
In what could well be a precedent-setting case, CAAMP has found a broker in violation of its code of conduct for effectively using a competitor’s name to drive traffic to his own website.
  • BOB SMITH | 01 Aug 2012, 03:56 AM Agree 0
    ths is welcome news. I have a very similar situation with two competing brokerage firms capitalizing on using variations of my brokerage name that has been in place since 1999. I have attempted to contact Mark Webb with no response to date . Need more value for the CAAMP dues we are paying and not just lip service .
  • CAAMP is doing this themselves | 01 Aug 2012, 04:09 AM Agree 0
    After reading this article I did a quick search on CAAMP’s own website. Seems the pot is calling the kettle black. CAAMP is guilty of black hatting as well. I don’t really care, but since they’re taking the ethical high road, they should be held to their own standards.

    Their meta keywords on their site include “Seneca”

    One can only assume that this is to get people looking for Seneca’s course to come to their website instead.

    Go to their site and view their source. See it for yourself…until they take it down

    They also do this on their Ontario Mortgage Agent Course page, as well as all of their mortgage course pages.

    So who does CAAMP fine at CAAMP? And how much are they going to fine themselves? Will they put a letter on their file…etc. etc. etc lol
  • Jeremy | 01 Aug 2012, 04:45 AM Agree 0
    Like in any industry, there will always be leeches out there. I think our Governing bodies i.e. FICOM, RECA, etc... need to take a stance and promote more ethical behavior among it's members. I think there should be a zero tolerance, you're either ethical or you're not. Stop with the hand slap of $500, nobody cares, pull their license! It's time we lose some dead weight!!

  • @kiltedbroker | 01 Aug 2012, 07:57 AM Agree 0
    I didn't actually believe it - but it is right there - Seneca is a Meta keyword on the CAAMP site - that is brilliant! Thanks for pointing that out there buddy with no actual name.

    I think that this breaks down with the assumption that these brokers are competition. How long do we continue the in-fighting until we realize that as brokers we need to WORK TOGETHER in this industry and offer a viable solution to THE BANKS. We don't even have a quarter of the market share the banks do, and rather than going after them, we fight for the scraps at their table. I bet you the broker that is fighting so hard to steal deals from other brokers sends all his business to TD or Scotia anyway.

    I find it comical that there is even an argument over keyword searches and black hat SEO - you can have these clients. They are generally unqualified clients looking for the best rate anyway, people you can really build a long term business on - this is purely the comoditization of our industry.

    Brokers, please stop using the internet as the new playing field for cheap Billboards, gimmicks and tricks and start providing REAL VALUE to your clients.

    I am done.
  • SeanYYC | 02 Aug 2012, 12:39 AM Agree 0
    Its CAAMP. They're hypocrites, and largely ineffective in regards to consumer awareness. All they can do is suspend a membership
  • Rob | 02 Aug 2012, 01:53 AM Agree 0
    If you're wondering what Kilted Broker is talking about, here is the screenshot of CAAMP's source codes http://screencast.com/t/xNDn377JUftK

    Sell value. Web searching is only the start.
    If you create enough valuable content, you'll NEVER have to pay for SEO.


  • Laurie | 04 Aug 2012, 02:37 AM Agree 0
    Social media is the new way to attract a client. We need to be moving into that new direction to keep up with the marketing trends. Stealing is stealing and should be dealt with severly. A $500 fine is a joke. It is time for CAAMP and other industry regulators to bring more integrety to our industry!
  • BCBroker | 04 Aug 2012, 02:41 AM Agree 0
    So would buying ad space on Google Ad Words for a brand name be the same?

    What if TD (or CIBC or RBC etc) used "mortgage broker" as a key word.

    Clearly they are not, would they be scrutinized the same way? Called to a hearing by the mighty CAAMP and fined if they don't comply?

    And what if DLC coded for Verico & Invis for MA?

    As someone said above, these leads are very low quality and best left for the ratesupermaket type of sites.

    my $0.02
  • Laurie | 04 Aug 2012, 02:43 AM Agree 0
    Social media is the new way of marketing and we need to be actively moving into this new area to attain clients. In my opinion, stealing is stealing and should be dealt with severly. CAAMP and other industry regulators need to enforce regulations with appropriate fines. A $500 fine is a joke! That does not even reflect one finders fee on an average deal. It is time we brought more accountability and integrety to our industry. If you are caught stealing from another industry member then you should lose your license period.
  • Ron | 04 Aug 2012, 03:53 AM Agree 0
    I find it amusing that we are arguing over someone clicking through links on the internet. Is that to say if an individual clicks onto my website that they are now "my client"? What's the difference between two different brokers coming up on a key word search, and two brokers putting up billboards along a highway adjacent to each other? Hey that's not fair! I put my billboard there first...!

    Will we need to have CAAMP provide a ruling against the broker who put up the second billboard?

    Come on now. Let's focus on offering valuable content to prospective clients and a viable alternative for them to consider over the Banks. Personally I am not concerned with brokers competing with each other...it keeps us raising the bar within our industry to be the best we can be.
  • Paul Therien, CENTUM | 05 Aug 2012, 05:44 AM Agree 0
    This is not just about Internet leads, this is about branding. All organizations brand, no matter how large or small. It is how the customers find us time and again. To do this is to infringe on another's brand for gain of business. CAAMP is trying tomtake a step here, and good for them to do so. The reality is they do not have full jurisdiction to enforce a change. If you have the proper trademarks in place, this can be stopped through the courts. If you do not have those trademarks, then there is little that can be done.
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