Shane is my first BDM about files ever. My second deal was fresh in the industry and I couldn’t have been welcomed by any more mild chaos.
Shane gave me many of mine Ah ha The moments of the first few years. He was the first to explain the difference between standard transfer and collateral transfer. He gave me a key bulb moment, and on the insured and insurable, also hit me,’Not everyone deserves a mortgage,’This is a staple in my training courses and multiple presentations.
The influence of a great mentor
I got great guidance on the team, but there is a lender who will take the time to explain Why Existence policies help my brain understand coverage in the way I need it.
It is worth noting that despite the industry being over 40 years old, he still spends time treating newcomers with the same respect and attention, who would have provided the highest agency for the people.
While my career, other BDMSs referred me to the web portal and broker suite for answers, no calls or emails were answered, but Shane always took some time.
He was also the first person in the industry to tell me I did a good job. He called me his little rock star, and during the first year of this journey he encouraged me, it was absolutely necessary when I felt like an idiot most of the time.
Shane was an important BDM for me, and as a result, I remained true to the brand he worked for – I moved it with that lender to other BDMs even long after the boundaries were redrawn.
Now, there are some awards in my email signature and many lenders are building relationships with me. But when I have no honors, there is not much time to put my time on me. This loyalty has helped our account grow from about $15 million a year to over $90 million in about four years.
A patient person who is obviously very good at sales must understand the task.
I wrote about customer loyalty last month; maybe the second level of introspection is to consider what creates loyalty in our brokers and how to apply the same logic when working with our own clients.
I can say without a doubt that I often get less commissions and buy the rates for sending documents to lenders based on my relationship with one person – whether it is an underwriter, BDM or executive. In return, these lenders often dismembered me, with exceptions in the tough documents.
In our business, things may Appear It is related to ratios and basis points, but in reality, brokers are built on interpersonal relationships.
Why interpersonal relationships are more important than technology
Recent news about Rockets mortgages leaving the Canadian loan space has surprised some people. But I ask: Why is it so difficult for the Rockets or QuestMortgage to break into the Canadian loan space when other new lenders seem to find the right formula like the winning new lender?
Have they underestimated the impact of building relationships in the Canadian market and instead rely on their fintech products?
Don’t stretch too far, but does this indicate how Canada does business?
The assumptions of fintech (so dominant in the U.S. lending space) will be widely discussed in our industry for many years. After several failed direct consumer approaches, is this another signal that Canadians prefer an old-fashioned handshake with another person?
Nowadays, it seems to be more about doing business with Canadians (and maybe anyone else) no American).
One thing for me is clear: Brokerage is not based solely on fintech. Canadian borrowers want to work with and build personal relationships with people they trust. Due to the logo on the office door, our recommendation partners do not work with us and they work with people they like. Just like brokers prefer working with lenders, we really like people.
The impact of a great underwriter on billion-dollar lenders is measurable.
At the end of the day, it all comes down to peoplenot a portal. There is no doubt that many good people are looking for work this week after Rocket is closed.
When we look for our own business, a useful exercise might be asking ourselves where to build relationships these days and how to cultivate them? Do you treat all influence centers like a top producer? Do you rely on CRM or pick up the phone?
Relationships in a world obsessed with technology might just be the answer ($90 million).
Thank you for the course, Shane. I wish you all the best retirement.
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Broker Guest Column Article Jill Moellering Lenders Mortgage Broker Opinion Rocket Mortgage Shane Lapointe
Last modified: March 16, 2025
