Angela Calla talks to CMP about becoming a mortgage broker at 22 and why brokers need to embrace change in order to thrive in the modern market
CMP: What made you get into the mortgage broker industry?
Angela Calla: I got into the industry at a very young age – I was licensed as a mortgage broker at the age of 22. I always had a passion for real estate, but I didn’t want to be a Realtor. Sitting around the dinner table growing up, I was always interested in money, money management and investing. However, I didn’t want to be a financial advisor because they tend to favour people who are already wealthy – they get compensated based on assets under management, and I didn’t think that would be the best way to help the average person to get ahead.
Homeownership was a really important part of our immigration story to Canada and one of our core values as a family. So, when I learned what a mortgage broker did years later when I was a marketing representative for a restoration company, it seemed like an opportunity to marry my passions. Upon reviewing what the job entailed, I immediately worked toward getting my licence.
CMP: How would you describe your time in the industry?
AC: It’s been really exciting. Every day you’re learning something new, regardless of your experience in the industry.
CMP: What are your thoughts on the recent regulatory changes?
AC: We’re in a constantly changing economy, but we also have a collision of circumstances because we’re seeing a great shift in our demographics. I believe that as a result of that, we have to adapt accordingly.
I understand why the government is doing what it’s doing, but I can’t say I’m on board with all of it. The end result will balance the market a little bit more favourably, but it will certainly create some short-term challenges. Those challenges stem from
wages being stagnant for decades, and that makes it difficult for Canadians.
That’s why our focus has always been on long-term planning and not transactional. You have to plan to get ahead. In every market, there is a winner and someone who doesn’t get ahead. You have to do whatever you can to put yourself ahead of the curve because we know how difficult it is for anyone who is not in the upper middle class to be able to attain homeownership.
CMP: Recent stats show that the total number of homes sold nationally fell 6.7% in June – the biggest monthly decline since 2010. Has your business been affected?
AC: It doesn’t really affect me. My business is not primarily focused on real estate transactions; I focus on the management of individual mortgages. So, because change is constant, there is always an opportunity for us to be assisting by proactively managing our clients’ mortgages.
CMP: How do you react to such changes in market conditions?
AC: Every time there is a significant change in the market, the first thing I do is run to the numbers. I look at the data to find out who is going to be vulnerable, who can benefit and who needs to change their plan. I immediately take care of my own clients first before I make the information available to the public. For every story that comes out, we generally have data telling the story before it happens.
CMP: What’s the secret behind your success?
AC: Getting in front of changes in the marketplace and understanding exactly who is going to be impacted and then planning accordingly. I am not afraid of change – I embrace it, and I thrive when it’s happening. I bring clarity to complex situations, and I bring a plan to every client. If you are not willing to continually find ways to improve and look into yourself, how can you be a better leader and better influencer?
CMP: What do you get up to in your spare time?
AC: I love playing with my kids. I love going to the water park with them, running around the mall, going to the library – I love doing anything they want to do. I’ll play with trains, dolls, anything; I just really enjoy being with them and not on my phone, not plugged in.
Angela Calla: I got into the industry at a very young age – I was licensed as a mortgage broker at the age of 22. I always had a passion for real estate, but I didn’t want to be a Realtor. Sitting around the dinner table growing up, I was always interested in money, money management and investing. However, I didn’t want to be a financial advisor because they tend to favour people who are already wealthy – they get compensated based on assets under management, and I didn’t think that would be the best way to help the average person to get ahead.
Homeownership was a really important part of our immigration story to Canada and one of our core values as a family. So, when I learned what a mortgage broker did years later when I was a marketing representative for a restoration company, it seemed like an opportunity to marry my passions. Upon reviewing what the job entailed, I immediately worked toward getting my licence.
CMP: How would you describe your time in the industry?
AC: It’s been really exciting. Every day you’re learning something new, regardless of your experience in the industry.
CMP: What are your thoughts on the recent regulatory changes?
AC: We’re in a constantly changing economy, but we also have a collision of circumstances because we’re seeing a great shift in our demographics. I believe that as a result of that, we have to adapt accordingly.
I understand why the government is doing what it’s doing, but I can’t say I’m on board with all of it. The end result will balance the market a little bit more favourably, but it will certainly create some short-term challenges. Those challenges stem from
wages being stagnant for decades, and that makes it difficult for Canadians.
That’s why our focus has always been on long-term planning and not transactional. You have to plan to get ahead. In every market, there is a winner and someone who doesn’t get ahead. You have to do whatever you can to put yourself ahead of the curve because we know how difficult it is for anyone who is not in the upper middle class to be able to attain homeownership.
CMP: Recent stats show that the total number of homes sold nationally fell 6.7% in June – the biggest monthly decline since 2010. Has your business been affected?
AC: It doesn’t really affect me. My business is not primarily focused on real estate transactions; I focus on the management of individual mortgages. So, because change is constant, there is always an opportunity for us to be assisting by proactively managing our clients’ mortgages.
CMP: How do you react to such changes in market conditions?
AC: Every time there is a significant change in the market, the first thing I do is run to the numbers. I look at the data to find out who is going to be vulnerable, who can benefit and who needs to change their plan. I immediately take care of my own clients first before I make the information available to the public. For every story that comes out, we generally have data telling the story before it happens.
CMP: What’s the secret behind your success?
AC: Getting in front of changes in the marketplace and understanding exactly who is going to be impacted and then planning accordingly. I am not afraid of change – I embrace it, and I thrive when it’s happening. I bring clarity to complex situations, and I bring a plan to every client. If you are not willing to continually find ways to improve and look into yourself, how can you be a better leader and better influencer?
CMP: What do you get up to in your spare time?
AC: I love playing with my kids. I love going to the water park with them, running around the mall, going to the library – I love doing anything they want to do. I’ll play with trains, dolls, anything; I just really enjoy being with them and not on my phone, not plugged in.
