Kelowna-based broker highlights how effective tutelage builds a professional for the future
For Ash Simpson, of the Kelowna-based Ash Does Mortgages, the most valuable foundations for a mortgage professional are built through a strong relationship with a good mentor.
This especially applies for those who did not consider the mortgage space as their first choice career (Simpson counts himself among these).
“I don’t think anyone graduates high school and dreams of being a mortgage broker (if I’m wrong about this, then you/that person would have been much smarter than I),” Simpson told Canadian Mortgage Professional.
Simpson said that he “happened to stumble across” being a mortgage professional while running his first venture (a mobile phone repair business).
“I was in a financial situation that would not have ever qualified me for a home,” Simpson said. “I was next door to a mortgage broker who took the time regardless to give me and my wife advice — and we took and acted upon it to the letter.”
This first brush with the mortgage industry would prove to be a fateful one.
“This broker asked me if I would consider being a broker,” Simpson recounted. “I shrugged it off at the time, but that seed had definitely been planted. Fast forward a few years, we were able to purchase our first home, we used this broker. She mentioned it again, and I started giving it more thought.”
It took a few more years after that before Simpson made the decision “to just go for it.”
“I quit my retail job and then finally made the decision to [go] all in on this journey,” he said. “That same broker that started me on this journey is still my mentor today.”
Simpson said that even as a mortgage professional continues learning and expanding their skill set, there is no substitute for the advice and guidance that only industry veterans like his mentor can provide.
“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 understand the 24/7 nature of our industry.”
Mortgage professionals can also learn from the best practices that these veterans embody.
“I learned early to be quick and proactive, in every facet of every file,” Simpson 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.”
Even with several years of mortgage experience under his belt, Simpson said that learning from the veterans never ends.
“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,” he 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.”
Input from colleagues and mentors alike helps Simpson continually adjust his processes to better suit the needs of his clients and lenders.
“If I need to take an extra step somewhere but it creates a better experience, that’s a win,” he said. “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 cited his approach to client acquisition as one aspect of his business that was particularly influenced by these interactions.
“For client acquisition, I created a system of online marketing strategies that over time built and added to my clientele through online acquisition, as well as nurturing campaigns that touch base constantly with a personalized approach,” he said. “From clients who started as cold online leads, I end up building relationships with each and every one of them.”
