Mortgage Broker

welcomequebec CMB MAGAZINE cmba-achc.ca winter 2019 | 27 ago. Her passion for the industry is evident. "I am a better broker than I was a banker," she says with a laugh. "I am very passionate about this profession and so are the rest of the people on the board. We had a meeting last week, and to see these busy people take time off without answering their phones, to take the time to discuss and come up with ideas – well, we really believe in it." Canadian Mortgage Broker connected with Roy to discuss the vision for ACHQ. "e main reason we created the associa- tion was to have a single professional voice," she explains. "Secondly, we launched the association with a group medical insurance plan for members, in Quebec we have to pay for medical insurance. is plan helps our broker community. "ird, there are only 1,200 mortgage brokers in Quebec, for a population of roughly seven million. It is our goal to help the industry grow." Roy adds that 10 per cent of membership dues will be set aside for public relations and promotional campaigns to increase public awareness of mortgage brokers and their ser- vices. Another 10 per cent will be funneled into a defence fund, should any member ever need legal representation. Membership in ACHQ – which was officially launched on Nov. 1, 2018 – is steadily growing. In addition to mortgage brokers, the new group is also recruiting associate members, including notaries, finan- cial planners and other related professionals. "e membership that has been paid from Nov. 1 will be valid until July 1, 2020, because we are a new association and don't have a lot of services to offer right now. e fee is $99 for the first year and a half," says Roy. She emphasizes that the ACHQ's main goal is to create added value for its members. "Like other provincial CMBA associations, the Quebec association exists to serve its members. We are looking into a loyalty program that will give either rebates or points to brokers. We'll also be designing specialized training programs, with training materials created by Quebec brokers for Quebec brokers." She adds that the board includes a dedi- cated director whose only job is communi- cating with members. "We want them to feel heard. We will ask our members what they need and we will work on it," she says. "We also want to create some products that will be available to members of the public who use a member mortgage broker. Our clients will benefit from their broker being a member of ACHQ." SUPPORT NETWORK While the other CMBA provincial associ- ations are offering their full support and expertise to assist the newly formed ACHQ, Roy says, the national group understands that Quebec is unique in many ways. "Our CMBA colleagues are so flexible that they allow us to be free and grow," she says. "But if I have a problem, I can call anyone and get a reply the same day. "We are extremely proud to be associated with all of the CMBA provincial associations. We get a lot of support from them, and we are really grateful." Until the ACHQ can develop its own web presence, information about the new group will be hosted on the CMBA site. "What CMBA does extremely well is convey the message. e mortgage broker brand is really strong in Canada. When we have the budget, we will shamelessly copy them! And, I think the strength of a Canadian associa- tion is that we in Quebec will not need to do all the nitty-gritty work that has already been done. at's the force of the national brand." Roy says she especially looks forward to sharing best practices with other mortgage brokers from across Canada. ADDED VALUE e lack of education and awareness about mortgage brokering is currently the profession's biggest hurdle in Quebec. "I was speaking to a real estate broker, a broker who refers clients to me and I refer clients to him," says Roy. "He told me, 'I hope you understand that I'm still sending deals to banks directly.' "We are so few in Quebec that even those who have done business with us don't understand the added value of a mortgage broker," laments Roy. "ey don't know what we bring. I think brokers are more equipped to prepare the client for the future, because we have different solutions." She says the benefits of working with a mortgage broker include their knowledge of various lending options – options that aren't limited to just one bank – and their commit- ment to personalized attention and advice. "Québécois are so picky at the grocery store – but they buy a car on a dime and sign a mortgage simply by being referred by a real estate broker, a family member or going directly to their bank. It's a cultural thing. But it pays to shop around; negotiating a mortgage based on rate only is a thing of the past. We now need to negotiate rates and conditions. We need to explain that to people." Roy says she is thrilled to be working with the other CMBA provincial associations. "Meeting these professional adults, I'm learn- ing a lot about my fellow Canadians," she says. "e fact that we all do this [association work] without being paid shows you how much we all value our profession." On behalf of ACHQ, Roy says she has a message for Canadian mortgage brokers: "I want CMBA members across Canada to understand that we're late to the dance, but we'll learn to dance really fast. at's the spirit of our board." What CMBA does extremely well is convey the message. The mortgage broker brand is really strong in Canada." – Marie-Chantal Roy

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