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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.

  • The Big Story: Attracting new agents The Big Story: Attracting new agents (views 15845)

    Brokers have been hiring new agents from time immemorial, but new pressures around commission splits and training are adding to the challenge. At the CMP Mortgage Summit, The Big Story spoke to industry veterans Gord Dahlen, of Dominion Lending Centres, and Ron De Silva, from RMAI Financial Group for their take on the issue.

  • VIDEO: The 2012 Canadian Mortgage Awards VIDEO: The 2012 Canadian Mortgage Awards (views 15460)

    More than 500 of the industry's best were on hand in Toronto to honour their peers at the sixth annual Canadian Mortgage Awards at The Carlu. A Roarin' 20s theme was the backdrop as mortgage industry leaders were recognized for their achievements.

  • The Big Story: At The Mortgage Summit The Big Story: At The Mortgage Summit (views 13292)

    More than 500 of the industry's best attended the two-day Mortgage Summit in Toronto, which was focused on giving brokers the tools, the insights and the knowledge they need in this dynamic market. That was the collective message of more than 40 speakers on two stages. Find out on today’s The Big Story, on TV, your home for industry news, opinion and analysis.

  • Building a better broker-underwriter relationship Building a better broker-underwriter relationship (views 14546)

    Clear communication between brokers and lender underwriters is the key to ensuring a strong mutually beneficial relationship says Equity Financial Trust CEO and Mortgage Summit panelist Nick Kyprianou.

  • B-side opportunity B-side opportunity (views 12859)

    The increasing amount of B business available is one way for brokers to improve their bottom line, says Home Trust executive and Mortgage Summit panelist Agostino Tuzi.

  • Being more competitive Being more competitive (views 12779)

    The mortgage origination market is only going to become more competitive, says Top 50 Broker and Mortgage Summit panelist Calum Ross, and brokers who don't invest in themselves in order to differentiate their business might not be around for long.

  • Getting SYNCED at The Summit Getting SYNCED at The Summit (views 11694)

    One of the benefits for brokers of attending conferences is the opportunity to meet with others in the industry. With this in mind, Chris Davis, events and conference manager for KMI Publishing, talks about SYNCED a new meeting software being used at The Mortgage Summit to help brokers get the most out their time at Canada’s only independent business event for the Canadian mortgage brokering industry.

  • The future of private lending The future of private lending (views 14252)

    According to New Haven Mortgage president and CEO and Mortgage Summit panelist David Vyner, the outlook for private lending may depend on proposed refinancing rules and their potential effect on home prices.

  • Will OSFI changes go too far? Will OSFI changes go too far? (views 15622)

    Many in the mortgage industry, both brokers and lenders, are now awaiting to hear if OSFI will implement some or all of the B-20 guidelines announced earlier this year and whether there will be any changes to these rules that could have a major impact on the lending landscape. Pacific Mortgage CEO and Mortgage Summit panelist Ron Swift says many of the proposals go too far and may do more harm than good to the market.