Every year, Canadian Mortgage Professionals (CMP) magazine releases a list of the top mortgage brokers across the country. At Ratehub.ca, we’re always on the lookout for best mortgage business practices. For this blog series, we contacted the top mortgage brokers in British Columbia and asked them what they attribute their success to.
Let us introduce Greg Martel from Dominion Lending Centres Harbour View Mortgages. Martel has worked as a mortgage broker for five years and now owns four mortgage brokerages in British Columbia. In 2009, Martel won the CMP Award for Best Mortgage Broker of the Year in the Best Newcomer category. Martel also ranked 11th on CMP’s Top 75 Brokers List, after closing with over $82 million in funded deals.
1. How can you attribute your success to making the Top 5?
There isn’t one single factor that attributes to my success in making the Top 5. It’s a combination of day-to-day things that all add up to my success. It’s being in the office every day; going above and beyond for every client— and potential client; hiring appropriate staff to help me with my business; and the list goes on!
Last year was my first year of working with renewals; this has also contributed to my higher business volume. I approach my renewals well in advance to make clients feel comfortable— I like to show them what their future options would be when it’s their time to renew. Taking this extra step for my clients is great because it’s one less thing that the client has to think about. It’s a win-win situation for both the client and myself.
2. Do you have a niche that you service?
I don’t have a specific niche that I service but most of my clients tend to fall in the first-time homebuyer category. One of the things I love most about my job is educating my clients. So, first-time buyers are my specialty. I personally also enjoy real estate investment, and I find that I have a large group of clients who are also real estate investors.
3. What first got you interested in the mortgage business?
I have always worked with finances. I first started working in the finance department at a car company. Eventually, I moved to working at a bank where I dealt with investments and mortgages. I enjoyed the mortgage side of things and I was getting regular returning clients, so I decided to take the next step and see how well I could manage mortgages all on my own.
4. What’s your personal mortgage product?
My all-time favourite product since becoming a broker is the variable rate mortgage. Fixed rates are low, but I still get clients into variable rate mortgages— at least for the first portion of their term. I have my clients lock in part way through their term, which ends up giving them a lower average rate than most during the term of their mortgage.
5. Fill in the blank. ‘If I weren’t in the mortgage business, I’d be _____.’
I’d probably be a stockbroker. It’s been something I’ve always been interested in on the side. Of course, if I could choose absolutely anything to do, I’d be playing in the NHL—along with every other Canadian guy.