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The Big Story: Do you have what it takes?

The best agents may be born and not made, but what traits should increasingly selective brokers be looking for in this confusing and challenging market. MBN finds out.

Video transcript below:

Reporter: Good agents are easy to get. Great ones are hard to find. What makes a great agent? Are they born to sell? Can they really be taught the skills? Born or made, what makes a great agent on this week’s Big Story.

Math, communication, administration, agents need to have it all. Or do they? Are personality and sales more important than doing the paperwork?

Erin Hamilton, Sherwood Mortgage Group

Erin Hamilton: Halfway through my career I moved location completely moving out to find out and there no one knew who I was anymore. I literally went door to door. People don’t like that. If I get your name out quickly and whether they like you or not, at least your name’s there. I certainly didn’t go to school, primarily I have a degree in psychology, it may be that could help a little bit. I don’t really think it does, but just because my background isn’t math, doesn’t mean I can’t put up my own mortgage together, because half of it is communicating properly with the underwriter, so they understand why weaknesses of an application can actually become twisted around and smoothed out. Even having a good relationship with your underwriter can go a long way. Instead of them, if they know you personally they know you are not necessarily sending crappy deals on purpose. They might call you and say well, this doesn’t seem right. Why would you send that in? They kind of get to know you. So you know, being personable is huge, it’s just being able to convey ideas properly, it’s not all about the numbers.

Reporter: Finding the one is critical, but how do you know they are the one?

Joe Walsh, Bedrock Financial Group Inc.

Joe Walsh: Well if you are talking about what makes a good mortgage selling agent and can they also come with good administration skills, I say first of all I find it difficult to be able to you know without somebody already being in the business, being successful, I find it hard to tell whether this person is, they come from all walks of life and you are never sure and sometimes when I interview people, you know first of all I tell them that it’s not as easy as it looks. Right. It is difficult, people think they are [going recommend us], it’s so easy to do mortgage, it is not so easy.

  • Kim Luxton: Planning for the future Kim Luxton: Planning for the future (views 13083)

    With slowing business, now is a great opportunity for brokers to focus on the bigger picture, says Kim Luxton, Director, Broker Sales for ING Direct. She says it's time for brokers to focus on client needs, not just today, but for the future and to help them achieve their long-term financial goals, which could result in better residuals and more referrals for the broker.

  • The Big Story: Why brokers do sell creditor insurance: Part II The Big Story: Why brokers do sell creditor insurance: Part II (views 15219)

    On today's Big Story and Part II of our look at creditor insurance, we spoke to Kim Luxton of ING Direct, Ian Tenggardjaja of The Mortgage Centre Mortgage Professionals, Kelly Price,of Mortgage Protection Plan and Mauro Di Cosola of Dominion Lending Centres Mortgage Village.

  • The Big Story: Creditor insurance - Part I The Big Story: Creditor insurance - Part I (views 17282)

    On the average broker’s to-do list, creditor insurance is usually near the bottom. But as brokers look for ways to boost their bottom line, ancillary products like creditor insurance are starting to look more appealing. Still, it’s often a tough sell and that’s coming from the industry itself. Overcoming these challenges is the first step say some brokers. On today's Big Story and Part I of our look at creditor insurance, we spoke to Kelly Price,of Mortgage Protection Plan, Ray McMillan, of Home Mortgage Consultants and Mauro Di Cosola of Dominion Lending Centres Mortgage Village. Price acknowledges that brokers feel selling creditor insurance is someone else’s job and that rings true for McMillan, who says in fact that “somebody else” is also sending them referrals. While apprehension can be a stumbling block for some brokers, it’s not insurmountable, says Di Cosola. Find out on today’s The Big Story, on MortgageBrokerNews.ca TV, your home for industry news, opinion and analysis and

  • The Big Story: Online lead generation The Big Story: Online lead generation (views 14990)

    On today’s Big Story we spoke to Drew Donaldson, an agent with Verico Safebridge Mortgage Solutions, Nick Kyprianou, CEO of Equity Financial Trust and Brad Compton, an agent with Invis. Some feel however, that experienced brokers who know how deal with rate shoppers and offer them more than just a mortgage, but a financial plan, can use these online leads to their advantage.

  • Albert Collu: Mandatory re-licensing education in Ontario Albert Collu: Mandatory re-licensing education in Ontario (views 15560)

    Albert Collu, president of Argentum Mortgages, discusses Ontario's mandatory re-licensing education course, which will begin Nov. 1 and what it will mean for brokers in the province. To be completed by March 31, 2012, the course will bring Ontario mortgage brokers and agents in line with counterparts in Alberta and British Columbia. They already submit to similar education requirements as a condition for license renewal and billed as a way of improving compliance with provincial laws on mortgage brokering.

  • The Big Story: Vancouver's increasingly competitive market The Big Story: Vancouver's increasingly competitive market (views 12939)

    If they say there’s a Tim Horton’s on every street corner in Canada, in Vancouver you’re likely to find a mortgage broker right next door. Throw in the highest housing prices in the country, banks that are fighting tooth and nail on interest rates and falling originations and you have a recipe for disaster. Or do you? On today’s Big Story we spoke to Vancouver brokers Peter Kinch of Dominion Lending Centres-The Peter Kinch Mortgage Team and Trish Pigott of VERICO Primex Mortgages as well as Equity Trust Financial CEO Nick Kyprianou. Kinch feels it’s imperative that brokers resist the temptation to take the banks head-on, while Kyprianou says there has been too much fixation on the market’s high-end prices. Pigott, for one, thinks those brokers who offer value over rate will succeed in the face of increasing competition from the banks. Find out on today’s The Big Story, on MortgageBrokerNews.ca TV, your home for industry news, opinion and analysis.