Leadership: Ameera Ameerullah, CEO/broker/lender
CMP: In your view, what is the biggest advantage of being an independent?
Canada Mortgage & Financial Group: Having flexibility and control of being paid on time; setting business policy and code of conduct for others to follow according to industry requirements; monitoring compliance, which helps in improving the quality and standards of the industry practice; providing employment to others; and [having] the freedom, liberty and discretion to proceed as you wish with the vision that you foresee without having to compromise or make concessions.
CMP: Do you think brokers affiliated with a network have an easier time building a brand? What do you do to cultivate your brand and make it memorable for clients?
CMFG: I believe that there is brand power, which can be of assistance to everyone who has a business. For us, branding is the people, so being affiliated with a resourceful team who has integrity and is passionate with a drive will set you up for success. With that said, it is also possible to attain the same type of recognition on your own. It takes time understanding tenacity, and to believe in yourself and stay focused on the end goal to get there. At CMFG, our transparency, care and response time stand out, which our clients and business affiliates can attest to.
CMP: What are the biggest issues facing the broker industry today?
CMFG: Too many agents are licensed who are incompetent and not knowledgeable about mortgage products. There should be more educational requirements and experience before one should be licensed. There is a lack of any field-related experience, and the incompetency of such agents is a reflection of the industry. This is causing issues for other professional brokers. Other major issues facing the broker industry are stemmed from the rules and regulation imposed by the government. While they have merits, there are serious fall-outs for people when dealing with these changes, which are hard to resolve. Also, another factor would be that people have lost the vision and understanding of mitigation and proceeding with deals/situations that don’t fit the box. We are not all cookies made from the same cookie cutter – everyone is unique and has to be viewed as such with proper diligence and consideration.