In a down market like Vancouver’s, Elvis Hui managed to fund over $200 million mortgages last year because he understands where the business is.
“I focus on the presale condominium market,” said the founder, CEO and managing director of Guaranti Mortgages. “In this year’s condo market, it will be a buyer’s market. They will find a lot of bargains.”
Hui is a top 1% broker and a seven-year-veteran of the industry. One reason he has been able to climb to such great heights is that he’s endowed his brokerage with a system that guarantees excellent customer service.
“People see my passion to help them, and when they look for me they can always find me, and that gives my clients confidence to entrust me with their mortgage. I have a good system set up for my team and there’s always someone to attend to clients. My business partner and I have four assistants who spend their time attending to whichever client they’ve been assigned to, and they follow up on their files all the way until funding.”
Hui noted that another facet of Guaranti Mortgages that clients have responded positively to is its educational seminars and blog posts. Not surprisingly, consumers don’t grasp the entirety of policy announcements made by the government, but brokers do, and it’s their job to guide clients through these things, says Hui.
“If my clients have any questions, I’m able to provide them with some information,” he said. “They often hear things in passing but don’t know the finer details.”
Before launching Guaranti Mortgages last year, Hui worked for Clear Trust, but the only thing clear to him was that he needed to explore his entrepreneurial inclinations. Having just finished a second straight year of funding over $200m in mortgages, it looks like Hui made the right decision.
In fact, it’s during down markets that the best and brightest truly shine, and Hui has a theory as to why:
“When the market is not that good, people are pickier about who they work with, and that’s especially true of realtors. They’re very picky about which mortgage broker or banker they choose to help their client because they don’t want to lose their file, so thy look for someone with experience, reputation, service, and language skills. Last year was the best year of my seven-year career in the mortgage space.”