by the broker network 20 - key mediaca.resources.kmimedia.ca/canada/mbnreports/2013top20.pdf ·...
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FEATURE/ SMALL MARKET TOP 20
JULY 2013 | 33
®
THE SMALL MARKET
TOP 20
20
Hard work and community spirit can and have overcome the limits of smaller markets, say brokers on this year’s list
BY THE GROUP
3,880TOTAL NUMBER OF DEALS:
DO
MIN
ION
LEN
DIN
G CE
NTR
ES
VER
ICO
THE
MO
RTGA
GE C
ENTR
E IN
VIS
/MO
RTGA
GE IN
TELL
IGEN
CE
CEN
TUM
274TOTAL NUMBER OF YEARS IN
THE BUSINESS
13.7AVERAGE NUMBER OF YEARS
IN THE BUSINESS
8 7 2 2 1
Small-market brokers step into the spotlight this year as CMP introduces its second Small Market Top 20 list in conjunction with the Top 75.
The Small Market Top 20 was open to all brokers and agents who did a minimum 80 per cent of their deals in markets where the average home price is at or below $290,000. They must be MLS-identified regions, cities or towns.
That cut-off is considerably lower than the national average, which closed 2012 just above $350,000.
For this running of the Small Market Top 20, brokers from Alberta, Ontario, Nova Scotia, Manitoba and Newfoundland & Labrador shared that spotlight, many of them amassing total funded volumes that outstrip their counterparts in much pricier markets. It suggests that they worked harder to achieve it, often doing 10-, 20- or, even, 40- per cent more deals.
Add to that Ottawa’s moves to cut amortization and 2012 was a trying year for brokers.
“The changing of the amortizations certainly had an effect on the first-time homebuyer,” says Terry Short, broker-owner of The Mortgage Centre- Advantage Financial Services, in St. John’s, Nfld. “In my market, it meant the difference of being able to buy approximately $30,000 less than the 30-year amortization.”
A strong presence in their tight-knit communities has helped many brokers to grow their books despite the regulatory and market challenges, says Mark Goode.
His advice to brokers entering smaller markets is to make a sincere effort to become part of the community they service. For example, Goode and his team are active sponsors and participants in local soccer, hockey and lacrosse teams in Orillia. Many brokers are also members of the chamber of commerce.
“Get to know your clients, get involved in the community,” Mark Goode, an DLC broker in Orillia and No. 2 on this year’s list, told CMP last year. “People want to know that you actually live and work in the community and not just driving in to get their business.”
BY THE BROKER NETWORK
$877M$802M
20122011
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FEATURE/ SMALL MARKET TOP 20
34 | JULY 2013
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The broker’s resource forReal Equity Lending for Homeowners
Alberta NorthDonna [email protected]
Alberta SouthPaula [email protected]
British ColumbiaGreg [email protected]
AtlanticTrevor [email protected]
OntarioSue [email protected]
OntarioHugh [email protected]
Rank Name: Company City/Town: Funded Volume ($) Funded Deals
Support staff who don’t write loans
Support staff who write loans
Years as a Broker/Agent
1 Viktor Schaefer Verico Onelink Mortgage & Financial
Steinbach, Man. 70,218,384 319 5 0 19
2 Mark Goode Mortgage Man Dominion Lending Centre
Orillia, Ont. 67,432,000 396 2 1 12
3 Todd Payzant Neighbourhood Dominion Lending Centres
Sudbury, Ont. 57,393,874 245 1 0 4
4 Clinton Wilkins Centum Home Lenders Ltd. Halifax/Dartmouth, N.S.
50,771,603 253 1 2 8
5 Terry Short The Mortgage Centre Advan-tage Financial Services Inc.
St John's, Nfld. 42,840,637 190 0 0 27
6 David Griffin Dominion Lending Centres Griffin Financial Group
Peterborough, Ont. 42,010,177 210 1 0 9
7 Janet MacDonald Verico The Mortgage Profes-sionals
Kingston, Ont. 41,770,557 195 1 0 10
8 Tracy Luciani Price Dominion Lending Centres Forest City Funding
Fergus, Ont. 41,413,009 211 2 0 13
9 Sherri Hislop Verico Alliance Mortgager Group
Stratford, Ont. 39,482,096 189 1 0 12
10 Scott H. Bentley Verico Premiere Mortgage Centre
Halifax, N.S. 39,385,119 154 1 0 12
11 Ken Lankin Mortgage Intelligence - Niagara Niagara Falls, Ont. 37,104,000 296 0 1 16
12 Sarah Davison Mortgage Intelligence Grande Prairie, Alta.
35,995,943 140 0 0 6
13 Dave McNabb Dominion Lending Centres Regional Mortgage Group
Red Deer, Alta. 34,688,400 114 0 1 16
14 Sean Binkley Dominion Lending Centres Alliance
Kingston, Ont. 31,167,718 148 1 0 12
15 Linda Ross Verico The Mortgage Profes-sionals
Kingston, Ont. 31,072,592 148 1 1 25
16 Brian Matthey Verico The Mortgage Profes-sionals
Kingston, Ont. 30,201,451 134 1 0 24
17 Dan Sauve Verico Mortgage Corp. Finan-cial Services Inc.
North Bay, Ont. 29,313,464 200 2 2 21
18 David Wild Dominion Lending Centres Regional Mortgage Group
Red Deer, Alta. 27,432,228 96 2 1 11
19 Bruce Gilkinson The Mortgage Centre Gilkinson Financial
Listowel, Ont. 27,020,267 152 2 2 12
20 Jean-Guy Turcotte Dominion Lending Centres Regional Mortgage Group
Red Deer, Alta. 25,627,770 90 0 0 5
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JULY 2013 | 35
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FEATURE/ SMALL MARKET TOP 20
36 | JULY 2013
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“Hard work” shot Viktor Schaefer, of Verico One link Mortgage & Financial, to the top of CMP’s Top 20 Small Market list. More specifically, it was the fruit of that labour: a funded volume of $70.2 million from a whopping 319 deals.
“We have to do a higher volume out here,” says Schaefer, who is based in Steinbach, Man., 45 kilo-metres outside of Winnipeg. “Our average house price is $240,000 or $250,000, so a lot of my business is from Winnipeg.”
Tighter mortgage rules are forcing brokers across the country to work harder to essentially keep pace with themselves. That’s no less the case in markets where average home prices come in below $290K. It’s also not that easy given the slowdown in home sales.
Still, Schaefer managed to better his 2011 perfor-mance of a $68 million funded volume from 330 deals. Rising prices likely gave him and other small-market brokers a boost.
But there’s no denying the effects of Mr. Flaherty’s policy moves, coming in the middle of 2012.
“If we didn’t have those government regulations, I would have had a least 15 per cent more business,” he told CMP. “But I am anticipating an even better 2013 – people have adjusted, and they are coming back.”
Schaefer has been brokering in Canada for about a decade, and was in the mortgage industry in Germany for nine years prior to coming to Steinbach. And yes, there are differences in how things are done, he says.
“One huge difference is the CMHC,” he says. “In
Viktor Schaefer
“Look, Ma, no rate site!” It’s a boast the No. 1 broker on this year’s Small Market Top 20 can make
NO. 1 VIKTOR SCHAEFER
Germany, it is all up to the lender to determine what the rate will be for a mortgage. The more you put down, of course, the lower your interest rate and risk. But here, that risk is basically determined by the CMHC.”
And although many brokers work hard at culti-vating Realtors for leads and referrals, Schaefer prefers to put his money into social media.
“I don’t think Realtors are the best way to find business,” he says. “Social media is where it’s at.”
Q&A WITH VIKTOR SCHAEFER, NO. 1
CMP: Do you feel the year was a success despite the overall industry lower numbers compared to 2011?
Schaefer: Yes I certainly feel that the year was a success. My business continues to grow and my volume continues to increase. That is not typical for many fellow mortgage professionals, so I feel very fortunate.
CMP: If you use rate sites, do you feel you could have had those numbers not using a rate site?
Schaefer: We do not use rate sites. In fact, I am against them because there is much more than rate to consider in finding the best mortgage solution for my clients. I feel that these websites force mortgage brokers to buy-down rates using their commission, which could lead to the collapse of our industry.
CMP: How much of an effect did the new restric-tions placed on amortizations have on business?
If we didn’t have those government regulations, I would have had a least 15 per cent more business. But I am anticipating an even better 2013 – people have adjusted, and they are coming back
FEATURE/ SMALL MARKET TOP 20
JULY 2013 | 37
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Schaefer: There was a definite impact with all of the rule changes. I think I would be at least 10 per cent higher in volume without the changes.
CMP: Dan Eisner decided to bow out this year so another person could claim top spot. Do you think he would have won?
Schaefer: Yes, he would win, but I don’t think his model is fair to compare to what other brokers are doing. In general, and not that he does this, I do not support mortgage pooling and feel that lenders should reward individual success at a higher standard.
CMP: Which product packed the most punch in putting you on the list?
Schaefer: Personally we continued to focus on purchases in a very stable local economy, specifical-ly a large portion of first-time homebuyer deals.
CMP: Who do you feel was your closest compe-tition (be it an individual or a network)?
Schaefer: I feel that my main competition is RBC and our local credit union.
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