For the country’s largest mortgage teams, switching brokerages takes a lot of effort but can occasionally yield new opportunities.
As part of a periodic series, CMT features short profiles on $100 million+ broker teams that have recently made a move.
This week’s featured teams are Service First Mortgages and The Trithart Team…
Service First Mortgages
Website: www.servicefirstmortgages.ca Lead Planner: Kevin Boucher and Heather Paterson, with Jason McKittrick as the Broker of Record Years in Industry: 12 yrs Main Office: Newmarket, Ont. New Firm: Verico Prior Firm: A national superbroker Team Volume (Last 12 Months): $180 million Licensed Agents on Staff: 25
Top 3 Stated Reasons For The Change:
1. Corporate leadership and reputation. “That’s why we chose Verico…the reputation, Colin Dreyer’s industry presence as an ambassador, and that not one person that I interviewed – and I interviewed many – could question his integrity,” said Boucher.
2. Value. “It made no sense to pay for [a value added proposition] that gave me little to no benefit.”
3. Technology. “Verico was a fee firm (perceptively limited service) that had more to offer like smart phone apps, mobile office, stand alone CRM add-ons, etc. In an ever changing world technology makes a difference.”
Business Model in a Nutshell: “We focus on relationships, both lender and client,” says Boucher. Service First Mortgages is selective about who its hires and believes credibility is vital in the broker industry. “Quality of business trumps quantity, and our main focus is building lasting relationships built on trust and accountability. Our agents are encouraged to treat all of our clients as our very best referral source, and our lenders as our partners. We can’t succeed without them so it’s win, win, win or no deal. Service First Mortgages was built on the customer for life concept. It’s what we believe and who we are.”
Secrets of Success: “The previous points probably best describe what I think set us apart, but the proof is that since I became a broker in 2006, 80% of my business has been from repeat and referral clients,” says Boucher. “A brand is important, vital even, but the really cool thing is after 12 years I am starting to do the mortgages of my past clients’ children and grandchildren. It’s fun to see the progression.
The Trithart Team
Website: www.dlsmortgage.ca Lead Planner: Dave Trithart Years in Industry: 15 yrs New Firm: Dominion Lending Centres Prior Firm: A national superbroker Team Volume (Last 12 Months): $125 million Licensed Agents on Staff: 15
Top 3 Stated Reasons For The Change:
1. Technology. “The web site design, CRM program, and back end support such as training tools and marketing is outstanding and will be very beneficial for agents to grow their business.”
2. Philosophy. “The entire Head Office personnel from the owners to the staff are second to none. Their attitudes and eagerness to work with you as a partner to grow your business is infectious and refreshing.”
3. Growth Strategy. “Phenomenal growth over the past 5 years due to the technology and philosophy and the tremendous support offered by the entire management team including the owners. All of the management team are in their prime and the plans for continued growth long-term fits very well with my personal long term business plan.”
Business Model in a Nutshell: “Don’t really have a special model but we do operate a partial Centralized Underwriting Centre and regular bi-weekly meetings.”
“Secrets” of Success: “Treating all of the Associates fairly from day one and ensuring a transparent and equitable management style. This creates a strong team attitude when targeting lenders for status goals or other initiatives. And incorporate ‘fun’ events that involve everyone and create a family type environment.”
Steve Huebl, CMT
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