What can add unmatched value to a mortgage broker?

A diverse set of prior experiences in various skilled trades has proven to be a strong foundation for Ash Simpson of the Kelowna-based brokerage Ash Does Mortgages.

“I’m currently in my fourth year in the lending industry as a mortgage broker for Tango,” Simpson told Canadian Mortgage Professional. “My background is a mixed bag of retail sales and leadership, combined with vast amounts of entrepreneurship. I’ve had cell phone repair businesses, marketing, and other companies. Meanwhile, I managed and sold in my fair share of retail locations and commission-only environments.”

And even as he just happened to “stumble across” the mortgage industry without any prior dreams of becoming a broker, Simpson said that “my background and the skillsets that I’ve acquired have truly been what made the difference for my early success in this industry.”

“While running my cell phone repair businesses, I was in a financial situation that would not have ever qualified me for a home,” he recounted. “I was next door to a mortgage broker who took the time to give me and my wife advice – and we took it, and actioned it to the letter. This broker asked me if I would consider being a broker. I shrugged it off at the time, but that seed had definitely been planted.”

Upon purchasing his family’s first home a few years later, Simpson said that they took on the help of the broker.

“She mentioned it again.  I started giving it more thought,” Simpson said. “Fast forward another few years, and I finally made the decision to just go for it. I quit my retail job and then made the decision to go all-in on this journey. That same broker that started me on this journey is still my mentor today.”

Outside advice and guidance from industry veterans are irreplaceable components of a mortgage professional’s tool kit, Simpson argued.

“I can’t emphasize enough that my achievements are a reflection of the company I keep and the support I get from everyone within these networks,” he said. “I have surrounded myself with thoughtful mentors, engaged and enthusiastic lender/realtor/lawyer partners, knowledgeable clients, and a family that I feel grateful for. Each and every moment, they allow me to take those late-evening phone calls and the 24/7 nature of our industry. I can’t thank these people enough.”

A benefit of working with these skilled industry movers is picking up good working habits and strategies from them, Simpson said.

“I learned early to be quick and proactive, in every facet of every file,” he said. “This industry waits for no-one, the information changes constantly, ever evolving. Lenders’ policies can change at any time, rates even more so. To avoid surprises, I double-check policies, and make the extra effort to leave nothing to chance.”

“Something I do for all my files: I always ask for the conveyancer who is working on my file,” Simpson outlined. “I build a relationship and then ask for the statement of adjustments prior to the client seeing it. It allows me to see any issues or mistakes, or give the client a good idea of what to expect when they are at their signing appointment. If I can remove a friction point in any point of the client’s experience, I will.”

Acknowledging that one always has room to improve is also vital to a successful career as a mortgage professional.

Learn how to become a mortgage broker in Canada here.

“I don’t think I’m the absolute greatest at these things considering I’ve spent time with some of the best in this industry and they can put me to shame,” Simpson said. “Listen and listen carefully to anyone in the industry and, of course, clients. They will often give us hints about the pieces of our industry that become pain points, or systems that we can control that will improve the experience for them as well as for us, the brokers.

“I change my processes constantly to better suit my client and lender relationships - if I need to take an extra step somewhere but it creates a better experience, that’s a win.”

Certain pieces of advice over the years have shaped Simpson’s business approach, particularly his specialties in marketing and client acquisition.

“I found out early that using a [customer relationship management system], and spending a ton of time to keep the relationship going with the client even after the file has been closed, will create a ton of referrals and repeat business,” Simpson said. “For client acquisition, I created a system of online marketing strategies that, over time, build and add to my clientele through online acquisition, as well as nurture campaigns that touch base constantly with a personalized approach. From clients who started as cold online leads, I ended up building relationships with each and every one of them.”

So far, these appear to have paid off handsomely.

“I have a ton of milestones that I simply couldn’t believe I would even have achieved or be considered for at this stage in my career,” Simpson said. “Being called a ‘Rising Star’ for 2021 stands out. I couldn’t believe I was nominated, let alone selected. I’m still honoured. Also, winning a trip to Hawaii with Compass/Tango.

“There are definitely others, but all of my achievements are because of the support I have received from lenders, underwriters, realtor partners, and the brokers in this industry I call my friends. All my constant phone calls are always answered and everyone has always been grateful to help.”