More and more brokers are asking what their associations are doing to earn their dues. The answer, reports Jemima Codrington, depends on whom you ask.
Video transcript below:
Jemima Codrington, Mortgage Broker News
Jemima Codrington: Regional, provincial, national, these days it seems Broker Associations are popping up faster than celebrity scandals. But is it finally time for a single voice to represent broker needs? Hi, I’m Jemima Codrington and welcome to the Big Story on Mortgage Broker News.
Some experts are calling for the creation of one national federally mandated association to lobby on behalf of broker interests. But is this really necessary? And would it really help?
James Smythe, The Dominion Lending Centres Central
James Smythe: As far as how many broker associations are across Canada, I like the fact we get sort of a national representation from CAAMP. I think that I would like to see that reinforced and strengthened. I would like to see more of a broker presence in the CAAMP forum, but I also like the fact that there are regional representations through Associations like AMBA. I feel that they tend to tackle things that are more provincially focused and so I think that in most cases, having more than one association actually is to our advantage.
Jemima Codrington: Some brokers believe that representations on numerous levels is a good thing.
James Smythe: With respect to the idea that it’s time for one organisation to represent brokers, at this point in time I think that you know based on regional disparities, based on the fact that there is multiple legislations, you know depending on the province that you are in, I think it’s probably not a bad idea to have a two tier system. I like the idea of thinking that there is somebody that represents us nationally and I also like the idea that somebody is looking out for regional needs. So I think that probably at this point, it’s better to have two.