Each year, Canadian Mortgage Professionals (CMP) Magazine releases their annual list of the top brokers in Canada. CMP’s list consists of brokers who voluntarily submit their financial details to the magazine, in order to find out where they rank. For this blog series, we’re interviewing the top mortgage brokers in Alberta and asking them what they attribute their success to.
For this post, we spoke to Larry Barkley from Home Loans Canada. His Edmonton brokerage ranked 27th in 2011, after closing with over $58 million in funded deals. With 23 years experience as a mortgage broker, Larry’s small brokerage with only one support member is great for first-time homebuyers who want an experienced and personal mortgage broker. To learn more about Larry, keep reading.
1. How can you attribute your success to making the Top 5?
I like to stay connected with past clients and this is great for referrals. I’ve been in the business for quite a few years and 80 per cent of my business is from past clients, meaning that my past clients will often refer me to friends and co-workers. I’d also like to think I go the extra mile and provide my clients great services.
2. Do you have a niche that you service?
No audience, really. I like to keep the door open, from first-time homebuyers to individuals looking for million dollar homes. However, I don’t do anything related to small businesses.
3. What first got you interested in the mortgage business?
I was a bank manager before getting into the mortgage industry. I also moved 13 times in 20 years, and my family and I got tried of moving all the time so we decided to settle down in Edmonton. When I was working in the bank, I often worked around mortgages and I enjoyed helping people find their mortgages. It’s not too often you can find something you enjoy doing and get paid well for doing it.
4. What’s your personal mortgage product?
I’ve always believed in the variable mortgage rate, but right now the 5-year fixed rate is popular because of its low rate.
5. Fill in the blank. ‘If I weren’t in the mortgage business, I’d be _____.’
In the veterinary business. I’ve always enjoyed working with animals and, if I could change careers, I’d be working as a vet.