Boosting broker success through strategic training, innovative products, and flexible solutions
This article was produced in partnership with RMG Mortgages
As Bruno Valko (pictured) puts it, he’s been in the mortgage space for “quite some time now” and from the early years of his career, he’s leaned into training programs for brokers. In his current role as vice president of sales at RMG Mortgages, he’s doubled down on what he calls “an educational approach to the business.”
“Our BDMs provide value outside of just handing out rate sheets,” he explained. “We focus on different strategies that we believe brokers can utilize to protect their business, get more referrals, and rise above the competition.”
Valko is known for his own specific contribution: regular economic updates for brokers so they understand the relevance of the bond market, for example, and how things that happen in the economy impact interest rates.
“From my perspective, I’m helping them be prepared if a client or referral source asks questions,” Valko said. “I would say overall, we go above and beyond the typical sales approach in the business. We rise above what’s standard to provide additional value from an educational perspective.”
RMG does have minimum volume requirements — “We don’t give all of this away for free, we expect brokers to send us business,” Valko noted. “We all want the same thing: more mortgages. So, we help each other. It’s a reciprocal relationship.” — but reaching out to an RMG BDM is a great starting point to kick things off with a lender that’s invested in bettering the quality of knowledge and advice in the industry.
Dedicated to doing things differently
RMG also boasts a robust technology system, the Gateway Broker Portal and the MyRMG homeowner portal. The technology piece was a significant investment to prioritize a state-of-the-art experience for both brokers and homeowners alike. The underwriting team is also top of the line, with each registered broker paired with dedicated underwriters, and RMG also offers a fantastic broker relationship manager program.
“We definitely have that broad capability of technology, people, policy and process that allows us to come up with unique products,” Valko said, adding that taken all together, RMG emerges as a leader in the space. But he urges brokers not to take his word for it — reach out and experience it for yourself.
“Everyone will tell you they’ve got great service, but they’ve got to back it up. Why do you have great service? There are a million things that we have that prove it. We have phenomenal technology, great educational programs, innovative products, and incredible tools for brokers. Differentiating yourself is key — we will help you with your business.”
Final words of advice
Understanding how the economy impacts the mortgage industry, ramping up education on lenders and their products, and marketing yourself ferociously are the three pieces of advice Valko would leave brokers with. As Canada enters a loosening cycle with interest rates and bond yields putting downward pressure on rates, brokers will have a significant role to navigate between lenders and clients. Brokers should foster strong, collaborative relationships with lenders to effectively address the challenges clients will face in the coming months.
With many on the sidelines waiting to see if rates go down further before they get into the market, there will soon be “more volume, more business, and more opportunity” from that pent-up demand, Valko predicted, adding that CMHC says next year 1.15 million mortgages will come due.
“Contact those clients: it’s a terrific opportunity to promote yourself as a great resource for conversations about options,” Valko said, adding that to sum it up, big things are coming as the market evolves once again, and it’s time to prepare for it.
“Work hard, market, sell, just get your name out there. You’re in competition with the branch and bank networks so be visible — and deal with a lender who’s going to support you in doing it.”
Want to hear more from Bruno Valko? Be sure to stop by the RMG booth at the Mortgage Professionals Canada National Conference in Montreal on October 27 at 5:45 pm and Oct 28 at 1:45 pm.
Bruno will be hosting two RMG Market Roundup sessions, where brokers will gain insight on the economy and the value that market knowledge adds to your business.
