Mortgage brokers must constantly reinvent themselves in today’s ever-changing housing market.
Over the past few years, we’ve had a global pandemic, soaring house prices, record inflation, and now rising interest rates and a slowing housing market.
If you feel like there hasn’t been much time to take a break and focus on professional development, you’re not alone. That is, until now.
The upcoming Mortgage Professionals Canada National Mortgage Conference on October 16-17 will bring together industry professionals from across Canada to not only reflect on the current state of the housing market, but also to hone their professional skills. Some of the brightest minds in the industry will share their experience through a series of sessions on interesting and relevant topics.
Amid the ups and downs of the Canadian real estate market over the past three years, mortgage brokers are facing more lawsuits from their clients.
Natalie M. Leon, a litigator who represents everyone from mortgage brokers to oil burner technicians, says it’s important for industry players to understand the duties of mortgage professionals, types of legal threats that are sometimes made by clients and how to deal with them.
As part of his session at the MPC conference, Leon told CMT, “I’m going to give some advice from my years of defending brokers on what they can do when providing services to avoid claims or s ensure they have the best possible defense when a claim comes up.
Connection with your customers
Growing a mortgage brokerage these days doesn’t just require a good handshake – it requires a solid marketing strategy that includes a strong social media presence and opportunities to have meaningful dialogue. with customers.
Sarah Strauss, Mortgage Broker at The Place to Mortgage, will lead a session focusing on how to stay human on social media, as well as how to plan social media content for multiple platforms throughout the year.
“I’m going to try to break down some of those barriers that can prevent someone from posting or feeling nervous about posting,” she says.
Meanwhile, Megan McDonald, SVP, Single Family Sales at MCAP, and Kerri Reed, Principal Broker at Premiere Mortgage Center, will dive into the importance of fostering strong client relationships.
The pair will talk about how to overcome misunderstandings and the stress of everyday dealings. “We challenge the industry to revisit its definition of partnership through compelling stories and insights,” McDonald explained.
Preparing for success
There is no fast track to success. It comes in many forms and through countless avenues, some of which will be presented at the conference.
For example, Susan Thomas of M3 Group will lead a business planning session to set the stage for success, while Dustan Woodhouse of Mortgage Architects will help participants master rejection and resilience.
In another session, Lisa Alentejano from Equitable Bank will walk you through how to assess your current relationship with yourself and your clients.
Her session will ask mortgage professionals how their relationship with themselves impacts those around them and how they can “show themselves fully” to others in a more authentic and connected way.
Real-life success stories will also be shared.
Christine Xu, President and CEO of Ready Capital Mortgage Investment Trust, has a story to tell about starting a mutual fund to grow her business quickly. The technique allowed him to raise $50 million in capital in just three years, but it was no easy journey.
“Being a mortgage broker and managing investors’ money are two totally different things,” Xu says. “I never thought raising funds for private loans would be so difficult!”
Facing the challenges
Survivors of sexual harassment and bullying are telling their stories at a pace never before seen in our society. In many of these cases, the abuse took place at work, perpetuated by co-workers or managers.
“These days, ignorance of current issues and decent behavior are rarely excused,” says Stephen Hammond, a lawyer-turned-workplace expert.
Her session will teach industry professionals their rights and responsibilities in the workplace, share what not to do, and how to avoid workplace bullying and harassment issues in the first place.
Another aspect some professionals are grappling with is how to get back to the office after two years of pandemic shutdowns, and the Zoom meetings and virtual signings that have come with it. Mortgage customers are now quite accustomed to conducting business outside of a brokerage office. But has this experience followed the customers?
Lee-Ann McEllister, associate sales manager for Western Canada at MCAP, says the mortgage industry needs to take a step back and think about how it treats customers.
“Now we have to think about the balance between technology and emotional intelligence to meet our consumer expectations that have changed over time,” she says. Ultimately, brokers will need to learn how to build deep trust with clients while leveraging modern technology.
Reconnect to the conference
This is just a small sample of the content presented at the Mortgage Professionals Canada conference.
Attendees will also be able to learn about the latest digital strategies to consider, the ins and outs of prepayment fees, and several panels where industry professionals will share their thoughts on today’s market and its challenges. .
One of the biggest highlights, of course, will be the opportunity for professionals to network with their peers and re-establish the personal connections that have been lacking over the past two years.