It is always worth it, Toronto-based agent says
If there’s one thing that Kalson Jang, Toronto-based agent of Premiere Mortgage Centre, would say is indispensable for a mortgage professional aiming for long-term success, it is the invaluable foundations of patience and perseverance.
“I’m a firm believer that dedication to my clients and hard work is the solution to most adversities. But even so, I didn’t always feel that my business was growing as rapidly as it should given the effort I was making,” Jang told Canadian Mortgage Professional.
“I’ve never been one to advertise, relying instead on word of mouth and on my reputation to grow my business,” he added. “I always tell people who are self-employed the same thing; it may seem like, ‘I’m working so hard, doing such a great job, none of this is working, I want to grow faster.’ But if you keep at it, the hard work will pay off eventually – and when it does, it comes very quickly.”
Jang knows first-hand the sometime tortuous route that a finance industry professional will have to step into, having been in the business himself for two decades now.
“I’ve been a financial advisor since 2002, so I bring a lot of knowledge from that industry into the mortgage agent space. I think it provides my clients with additional insight and knowledge that they don’t get elsewhere. As a result, I can help clients plan their overall finances, not just their mortgage,” Jang recounted.
Building up one’s knowledge bank over such a prolonged period confers unique advantages that other industry professionals will find hard to match, he argued.
“Being able to review a file and put my ‘underwriter hat’ on has also been very helpful for me. At the end of the day, the underwriter makes the final decision, so it’s important to know what their requirements are so you can ensure your client’s application will be approved,” Jang said.
“Every client’s situation is unique, and some files can be more challenging than others. When the underwriter raises their concerns, knowing your client’s situation completely and being able to mitigate the lenders’ concerns is a helpful skill to have.”
Jang said that his inimitable skill set helped put him on the map as a reliable supporter for those looking to buy or refinance.
“Because of my reputation for excellence, I have been the beneficiary of many referrals. As my business has grown, the rate of growth hasn’t really slowed down like I thought it would. The pace at which my business has grown, even when I reach higher and higher targets, has been very gratifying. When I see that, I realize how far things have come, and, for that, I feel extremely blessed and grateful,” Jang said.
Jang said that the rewards of establishing vital industry links tend to increase proportionally with the effort that a broker puts in.
“My advice to new agents is to build relationships with your [business development managers]. They can be a great resource to provide info on how you can get tough deals approved that may get declined elsewhere,” Jang said.
Being proactive should not be underestimated, as well.
“Do your own research and don’t ask questions you can figure out for yourself. This learning process allows you to develop a deeper understanding of each lender’s products, which will really help you. Don’t wait for someone else to ‘show you the way’ when you can ‘show yourself the way.’”
A considerate approach is also central to a winning strategy.
“Be organized and concise with your clients and your lender partners. Your clients and lending partners are all very busy; the easier you can make things for them, the better it is for everyone involved,” Jang said.
These tips go double on the client-facing side of the equation.
“I think the most important lesson is knowing the value you bring and working with clients who understand and appreciate your value. In this industry, it’s a very competitive environment. As such, excellent performance and customer service is the key to success,” Jang said.
“When you first start in this industry, you try to be ‘everything for everyone.’ But as you grow and understand the value you bring, you have to focus on becoming an integral partner for the type of client you want.”
