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5 Questions with CMP’s Top 5 Mortgage Brokers in Ontario – Dave Butler

Each year, Canadian Mortgage Professionals (CMP) Magazine publishes a list of the top 75 mortgage brokers in Canada. The list is made up of mortgage brokers who voluntarily submit their financial details at the end of the year, in order to be ranked against one another. This week, we are talking to the top mortgage brokers in Ontario and finding out what they attribute their success to.

Meet David (Dave) Butler from Butler Mortgage. In 2011, Butler rose in rank from 7th place in 2010 up to 4th, after closing with over $153 million in funded deals. Being in the industry for 7 years now, Butler’s commitment to his job and his clients has served him well, and has also helped him shift into a niche market. In our interview, Butler gave us insight on how he achieved his success. His advice: work hard, set goals and be passionate. Keep reading to find out more.

1. How can you attribute your success to making the Top 5?  

My father was a successful mortgage broker, so I was able to learn from his experience. I have also had great mentors along the way. Peter Doherty and Gerald Krahn were my territory VP’s when I was at Mortgage Intelligence, and they helped me find out what other top brokers were doing so that I could follow their success models.  

I also outwork many people in this industry. I am not afraid to work until 4:00 a.m., if that’s what it takes. Starting at 23, I knew that the only way to catch up to these top guys was to try and outwork them. You can’t expect to quickly move up the ranks by simply working the same as everyone else. I believe my work ethic has helped me tremendously and being passionate about what we do is key.

You also have to set goals for yourself. Every year, I set new goals, one of which is to make sure I do more business than the year before. In all my years in this industry, I have never had a down year; this is because I set goals and I won’t stop until I make them a reality. Life is too short! Why not work as hard as humanly possible now, so that I can retire in my 40s?

2. Do you have a niche that you service?

Over the years, my business has shifted to almost entirely working with real estate investors. I’m less of an everyday mortgage broker and more of an investor agent. Real estate investors do not have problems qualifying for a mortgage, and they have great applications; this turns my job into more of a planner. I am putting together a plan that fits their application and their goals.

For me, investors are like professional athletes. I am their sports agent and the banks are just the teams. I have developed value-added services within my company that are catered to investors. This niche has helped tremendously in taking my annual volume from $80M four years ago to almost $200M in 2012. I now get contacted by investors from all over the country, which should be proof to everyone that simply creating a niche can separate you from the pack. 

3. What first got you interested in the mortgage business?  

At 23 years old, I was only interested in not having to attend university anymore. I was willing to do just about anything to start earning a living and begin my quest into the real world. It just seemed like the logical choice to begin a career in something that both my father and brother were also involved in. For me, it appeared to be an industry where there were several different ways to become successful.

4. What’s your personal mortgage product?

I don’t have a personal mortgage product. Every investor is different and has different goals and plans. I cater all the mortgages that I put together to meet an investors needs and wants.

5. Fill in the blank. ‘If I weren’t in the mortgage business, I’d be _____.’ 

I’d likely not be as successful elsewhere as I have been in this industry. There are not many industries out there where someone in their 20s with only a couple years of experience can start making as much money as a doctor or lawyer.

To learn more about Dave Butler, visit his website or find him on Facebook.