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Mortgage Broker News | 06 Apr 2011, 09:31 AM Agree 0
One Edmonton broker has begun what he’s dubbed the "The Mortgage Revolution," bringing together industry professionals for a candid and often critical conversation on ethics, integrity and – in a troubling number of cases – the lack thereof.
  • @kiltedbroker | 07 Apr 2011, 02:26 AM Agree 0
    I am really pleased to see this conversation taking place! Thanks to Mike Cameron for taking initiative on this! Very will timed.

  • P. Edwards | 07 Apr 2011, 02:27 AM Agree 0
    I recently noticed in scanning through my daughter's Nursing magazine that they have a section where disciplinary or questionable conduct is discussed much like CAAMP's Ethics Complaint Summary In their Mortgage Journal. The difference is that they publish the names in the Nursing Journal. Would you like to see your name in print?
  • @kiltedbroker | 07 Apr 2011, 02:31 AM Agree 0
    I hear that the Realtors Association does something similar. If a Realtor gets fined for misconduct, their name is published with the amount of the fine. Depending on the criteria, I think that would be an excellent idea for our industry! I realize that stuff happens and we all aren't perfect, but if a broker has been blacklisted by a Lender or something of that nature, it would raise the bar.
  • Brian Matthey | 07 Apr 2011, 02:46 AM Agree 0
    Well done Mike.I have always believed that the number of people in our industry is far less important than the number of Professionals.The Canadian public will be the judge of our future share of market based on their perception of our industry as a profession and the level to which we individually aspire,train and continue to learn how to present ourselves as professionals,not order takers.Hiring practices have played a part in the past in the number of unqualified people allowed into our profession for the sale of a number.Personally ,I think there should be a mandatory two year articiling period for anyone entering our industry who has little or no financial background,before they can be licenced and then the broker of record has to sign off on a specific set of training criteria being completed,before they are allowed on the street.Keep up the revolution
  • Marcy Berg | 07 Apr 2011, 03:01 AM Agree 0
    Way to go Michael Cameron for opening up the discussion.
  • Jeremy Nagel | 07 Apr 2011, 03:06 AM Agree 0
    I agree with what Mike is doing and we need to take our industry back! Great job Mike.

    I would like to add that I think brokers, not associates, need to be more mindful of who they bring into their brokerage. For most brokerages, not all, it has been about the quantity not quality. I have heard of brokerages protecting some associates who are doing shady business due to their volumes and seriously I hope this is not true. Brokerages need to take a zero tolerance approach to those associates who have been cutoff by lenders and placed on Redx. Personally, I think the lender should hold the broker accountable for the actions of their associates.

    Together we can make a difference!
  • Jonathan Askew | 07 Apr 2011, 03:55 AM Agree 0
    Great job, interesting comments. Would love to see this happen in Ontario. At first glance there appears to be regulations governing us but the real question is if this is so why are there still such huge numbers of brokers/agents out there taking advantage of the public. This is reflected in the rediculous increase of E&O. As a broker I pride myself on the training I insist upon for my agents but very difficult to compete with the larger firms who care only about numbers not quality. What is the answer ?
  • Brandi Pierik | 07 Apr 2011, 03:57 AM Agree 0
    Thanks for getting the discussion started Mike! Only good things can come from raising awareness and working together as industry professionals, regardless of individual brokerage affiliations.
  • Gord McCallum | 07 Apr 2011, 04:24 AM Agree 0
    Yes, kudos to Mike for being so passionate about the subject and facilitating the beginning of a big conversation.
  • Michael Cameron | 07 Apr 2011, 05:10 AM Agree 0
    Thanks for the encouragement everyone. Jonathan, lets host one in your neck o' the woods. I would really like to see this grow. It is about raising the bar and growing our market share. I know there are lots of you out there that believe in what we do and I just wanted a forum for us to celebrate that and learn together.

    Brian and Jeremy - I agree, if we (broker/owners) don't give a home to those that do us a disservice then that is a significant start. Perhaps more accountability for us and who we hire??

    If anyone wants help championing a similar event in there geography then let me know what I can do to assist.
  • @kiltedbroker | 07 Apr 2011, 05:31 AM Agree 0
    I would love to let people know that I was a part of an organization that held brokers/brokerages to higher standards. I am tired of getting lumped in with the unscrupulous brokers who give the rest of us a bad name. Just last week I had was connecting with a financial planner to discuss referrals. He started the conversation by asking me very pointedly "are you a full time broker?" I thought this was an odd place to start the conversation, but as he continued he told me that he found out that the last broker he worked with was also working the graveyard shift at a gas station under a different name and tried to charge his clients a $2500 up front fee for his services regardless of whether or not the clients found a property.

    Now I am sure everyone has a story just like this, the point is, we need to stand up for the legitimacy of our profession and take some kind of action to set ourselves apart from those that would give the rest of us a bad name... or better yet, it would be great to figure out a way to get rid of the bad ones completely.

    Thanks Mike for being a voice to this. I am behind you and would love to make a difference in Saskatchewan
  • Steve King | 07 Apr 2011, 05:55 AM Agree 0
    Couldn't agree more with you all, Well done Michael
  • Betty | 07 Apr 2011, 07:48 AM Agree 0
    I don't think additional education requirements are the answer; you can't teach ethics and integrity- they have to be traits a person brings to the table...I think more diligence in the licensing and hiring of agents would help quite a bit...
  • @kiltedbroker | 07 Apr 2011, 07:55 AM Agree 0
    I agree with that Betty, education doesn't seem to be the answer. I think brokerages need to understand & make the shift to quality and not quantity. If we can work together to strengthen the industry, we take more market share. I will not sacrifice long term sustainability for immediate gratification (through a sideways deal).
  • Gord McCallum | 07 Apr 2011, 08:40 AM Agree 0
    Amen on the "quality over quantity" approach @kiltedbroker. Maybe it's a Saskatchewan thing, but I've always believed that too. Keep up the good fight.
  • Jason Dodd | 07 Apr 2011, 08:49 AM Agree 0
    It starts with leadership. The brokerage leader needs to set the bar on the standards it upholds and follows through with their own actions. More SUPER BROKERS like to cram as many staff in to get volume but don't consider the downside of putting in people who are not concerned about code of conduct. Everyone has to take responsibility. Easy to say we need to get better but we all need to police it and as experienced agents we need to say NO to just worrying about volume bonus and worry about the quality of people who work for your brokerage. Start fining the brokerages heavily for unethical acts and watch how quick they kick the fluff and less integral people out the door. This will be a quick way to weed out the undesirables and insure high standards in our industry. I have seen greed in our industry when dollar signs are present so people get desperate and do ridiculous things to gain more lining in their pockets. Top down leadership, you allow someone to be licensed under your brand and they act out of set standards then you are partially responsible as well.
  • Sean Binkley | 28 Apr 2011, 09:41 PM Agree 0
    @kiltedbroker - Timely seeing that many in our industry will be supporting the CMP awards. A magazine that promotes the Top 50 Brokers in Canada purely by reported volume alone - and this is only the top 50 of those that actually reported...
  • Taz Rajan | 04 Jun 2011, 06:26 AM Agree 0
    Kuddos Mike for starting the discussion. I'm all over this and would love to see more stringent guidelines for licencing and relevant action for neglegent brokers. They give the rest of us a bad reputation and we don't need our own brokers making it tougher for us. I'd love to see awards based on merit, professional standards and ethical practices. I'd like to see more education for the public on what to watch out for and how to report it. Great start!
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