UPFRONT
EDITORIAL
www.mortgagebrokernews.ca ISSUE 16.01
A new year’s resolution
N
ow that 2020 is in the rearview mirror, agents, brokers, managers and executives are rightfully looking back with satisfaction at what will go down as one of the most thrillingly profitable years in Canadian mortgage history. But those unprecedentedly good times shouldn’t obscure a critical weakness that threatens the integrity and public perception of the Canadian mortgage space. It’s a common refrain: Some new agents entering the industry are not adequately prepared to take on the kind of complex, fast-paced deals that could start landing on their desks once they sign on with a brokerage. Sure, new agents come to the industry as ‘certified’ professionals, but what weight does that carry if the training required for certification can be crammed into a few days?
Robust training is the ultimate preventive medicine for the ills that plague the mortgage industry There’s a reason the mortgage industry’s top-ranked employers are so often those that prioritize mentorship and continual training, and it’s not simply because these companies are showing faith in or spending money on their employees. It’s because they actually teach their agents how to do their jobs. Robust training is the ultimate preventive medicine for the ills that plague the mortgage industry. In 2021, brokerages have an excellent opportunity to make a concerted effort to help their agents up their games. Why not put some of last year’s unexpected profits toward new training programs that will prepare agents to close deals efficiently while also generating a steady stream of new business, in good times and in bad? Today’s market will not last. The flow of deals will inevitably constrict, and when it does, there will be a flight to quality on the part of consumers. Welltrained agents will continue to thrive, while the unprepared will grow desperate. Borrowers shouldn’t have to run the risk of winding up with the latter, but until all agents are trained to similarly rigid standards across Canada, that’s the gamble they’re forced to take. The team at Canadian Mortgage Professional
EDITORIAL Managing Editor Paul Lucas Editor Clayton Jarvis News Editor David Kitai Writers Ephraim Vecina Pete Miller Copy Editor Clare Alexander
CONTRIBUTORS Julia Krause Aytekin Tank Gustavo Razzetti
ART & PRODUCTION Designer Joenel Salvador Production Coordinators Kat Guzman Ella Dayandante Client Success Coordinator Cole Dizon
SALES & MARKETING Vice-President, Sales John Mackenzie National Account Manager Corey Bahadur Sales Executive Alan Stewart Global Head of Media Marketing Lisa Narroway Project Coordinator Jessica Duce
CORPORATE President & CEO Tim Duce Office/Traffic Manager Marni Parker Events and Conference Manager Chris Davis Chief Information Officer Colin Chan Human Resources Manager Julia Bookallil Global CEO Mike Shipley Global COO George Walmsley
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26/01/2021 3:16:48 am
