A FRESH TAKE ON INDUSTRY EVOLUTION

Pineapple’s Shubha Dasgupta shares insight into his mortgage industry career and the values that drive his success

BY LISA GORDON

Shubha Dasgupta has never been one to avoid a challenge. In fact, he believes that on the other side of adversity lives greatness.

It’s a viewpoint that has served him well, from his childhood in Scarborough, Ont., to the present day as the CEO and co-founder of mortgage brokerage Pineapple.

“I’m famous for saying that when you ask people at age six or seven what their dream job is, no one says mortgage broker,” laughs Dasgupta. “What brought me here to this industry was entrepreneurship. I’ve been focused on that since the age of 20, when I launched my first business.”

After successfully exiting that business a few years later, Dasgupta was set to embark on another venture – but just as he was about to begin, his mother was involved in a life-threatening car accident. Instantly, his focus changed.

“I stayed with her for 45 days while she was on life support and then another 30 days while she was in ICU,” he recalled. “I didn’t leave her bedside. By the time she recovered, my head was no longer in that business opportunity. I went looking for something else. My cousin introduced me to the mortgage broker industry in 2007; I researched it and fell in love with it.”

Just like his native Scarborough, Dasgupta loves the fact that the mortgage industry is diverse.

“One of the beauties of this industry is the fact that we have people from all different walks of life,” he says. “Different experiences all converge here. We all do the same thing differently, with our own colour and our own flavour.”

Today, Dasgupta heads up six-year-old Pineapple, a coast-to-coast brokerage that includes 700 mortgage brokers and growing. But when he first joined the mortgage industry, he recalls learning a hard lesson.

“I thought I knew a lot about the industry but quickly realized I had no customers to share it with,” he recalled. “I had a conversation with one of the top brokers in Canada, who mentioned that he knew how to get customers in the door. It changed my perspective! Sales and lead generation is a big part of the mortgage business. A few years in, I was really focused on deepening customer relationships and embracing technology. I pieced together different tools to help my business run more effectively. Eventually, I was recognized as a member of the top one percent of brokers across the country.”

Hard lessons hold value, according to Dasgupta. He’s collected them along his career path, believing that handling adversity with poise is the secret sauce to career success.

After nine years as a broker with various organizations, Dasgupta partnered with other industry professionals to enhance the

Canadian mortgage landscape. They created a new brokerage option – one that was focused on adding value and offering fresh financing solutions to homebuyers.

“Pineapples are a symbol of warmth and hospitality and are often given as housewarming gifts,” he explained. “And, if you zoom in on our logo, you’ll see that the pineapple skin actually looks like a collection of rooftops.”

In an industry that has seen rapid, significant change in the last decade, Dasgupta is proud that Pineapple embraces innovation.

“We’ve built a culture of change, adaptation and evolution. I just love that. I love staying new and fresh and getting better.”

He said one of the stories that is never told is about the importance of real estate and how impactful it is in people’s lives. A home is a place where families grow – a place where people laugh, smile and cry.

“Some of the greatest moments in life happen within those four walls,” said Dasgupta. “That’s why today, I’m so proud to help Canadian mortgage brokers by sharing their successes and failures and empowering them to build their businesses. I’m also proud that as my role has evolved, I’m here to empower our staff. When I started understanding the impacts I was having on the lives of homebuyers, agents and our corporate team members, I began to really love my job. Once you engage like that, the magic happens.”

To Dasgupta, successful CEOs must be solutions-driven – a truth that’s become evident to him since Pineapple was founded. It’s also an opportunity to make a positive impact in other people’s lives.

Shubha Dasgupta

“When I was a broker early in my career, I helped a woman who came here from a war-torn country with a dream of home ownership. She wanted to build a future for her family. I was able to help her arrange construction financing to turn a small bungalow into her dream home. That was almost 16 years ago and I’ve gone to her kids’ weddings and celebrated special milestones with her family. The trickle-down effect of what we do is so powerful.”

Likewise, Dasgupta speaks of the reward that comes from helping other mortgage agents and brokers to succeed. One person who’d been in the business for seven years her kids’ weddings and celebrated special milestones with her family. The trickle-down effect of what we do is so powerful.” with very limited success agreed to give it one more shot with Pineapple – and saw his income increase five-fold within 13 months. Looking ahead, Dasgupta sees tremendous opportunity for the Canadian mortgage industry.

“The future demographic of homebuyers really leans towards the personalized care, choice and attention that mortgage brokers deliver,” he said. “I think technology will enable and empower the mortgage industry to grow exponentially, and I think the demand and need for brokers will increase as financing decisions get more difficult.”

“When he’s not in Pineapple mode, Dasgupta is a proud family man who cherishes time with his wife and two children. He’s also an avid cyclist and philanthropist who is involved with several not-for-profit organizations.

He told Canadian Mortgage Broker that he’s known for two favourite sayings. The first opened this article, and the second is a fitting way to sum up Dasgupta’s own personal credo:

“We all have the opportunity to make a positive impact on the lives of others. All we have to do is try.”