Former network brokerage joins Coalition for autonomy, support, technology and "top-tier compensation"
The Coalition of Independent Mortgage Brokers of Canada (CIMBC) have expanded further into B.C. adding its newest member: City Wide Mortgage Services in Vancouver.
The addition of this independent brokerage to the CIMBC group represents a significant step for the broker-focused co-operative in their expansion into Western Canada. A Principal at City Wide says CIMBC offers an unmatched combination of independence and compensation. CIMBC Principal CEO John Bargis says his coalition sought to partner with City Wide because of their experience, scale, professionalism and business philosophy.
“I was so impressed with their industry background, and their foresight of what lies ahead which was very much aligned with our outlook,” Bargis says. “Their business acumen and experience will definitely make for a strong partnership opportunity, and we look forward to working with City Wide for many years to come.”
City Wide’s principals, Wayne Mah, Shaun Zipursky, Dara Fahy, and Rowan Smith bring more than 25 years of experience to the CIMBC team. They lead a Vancouver-based team of around 30 agents, generating over $500 million in closed volume.
“It’s great to have our autonomy back in the direction of the company,” Says Smith, whose City Wide team was previously a part of two large brokerage networks. “It’s nice to have control of all of our own tools. Those tools were previously one of the things that attracted us to a network, but technology has come so far that you can replicate a lot of what they offer on your own.”
Bargis, for his part, says that throughout the discovery process he was extremely impressed with the professionalism and transparency the City Wide team demonstrated. He says Smith and his team share a “solid understanding” about where the industry is headed.
“I think a lot of the networks are going to face people going back down the independent road,” Smith says about his vision of the industry’s future. “In years past there was a trend towards joining the super brokers to get maximum compensation. I think that the way lenders operate now, the technological change in the industry, and the way CIMBC works benefits the small guys.”
In partnering with CIMBC, City Wide will now access a suite of standardized services, educational opportunities, and platforms designed to improve practice efficiency and profitability. Smith says for his team, it came down to a unique combination of autonomy and support.
“CIMBC will never market to our database, whatever clients we build are ours, there’s no long-term contract, and they offer top-tier compensation despite being independent,” Smith says. “We did our homework and there really isn’t anybody else in Canada with this offering.”
For more information on CIMBC contact [email protected] or call 1-866-448-3343.
