Mortgage Broker

30 | spring 2018 cmba-achc.ca CmB magazIne t hose who adapt will survive. While Mother Nature has proven this truism time and again, John Bargis believes it's also the key to building a successful career in the sometimes-turbulent mortgage industry. Bargis, a 25-year industry veteran who is currently executive vice-president of Mortgage Edge in Richmond Hill, Ontario, has weathered the ups and downs of mortgage finance since he joined the industry in 1989. An active contributor to several industry associations over the years, Bargis is a passionate champion of the independent mortgage broker. His work with CMBA-Ontario and the Coalition of Independent Mortgage Brokers of Canada (CIMBC) has always been targeted at helping to develop business tools and guidance for independent industry professionals, including proven techniques and long-term business modelling. Here Bargis shares his thoughts on the challenges and opportunities facing Canadian mortgage brokers and why their biggest asset will always be their ability to roll with the punches. CaNaDiaN MoRTgagE BRokER: Tell us about your career. When and how did you get started in the mortgage industry? John BArgis: My career started off in retail and commercial banking, both part-time while in school, then full-time following graduation, for a total of eight years. My wife, Tina, who was managing the mortgage department at TD's flagship King and Bay location in Toronto, suggested I become a mortgage broker aer one of her senior co-workers in credit at head office made the jump. I became a mortgage agent in December of 1989 – which was both the worst and the best time to enter the mortgage broker business. e early 1990s experienced one of the worst market depreciations in real estate valuations across the country. e mortgage broker industry experienced many casualties and a large exodus resulting from a lack of understanding and ability to adjust to change. CMB: how would you say you and your business have evolved over the years? JB: Aer 10 years as a top-producing agent with volumes of $155 million personally, and my team's volume of $500 million, I decided to go in a different direction on a national scale as one of the principal founders of Invis. At the same time, I served as the chair of the Canadian Institute of Mortgage Brokers and Lenders (now Mortgage Professionals Canada). Subsequent to the Invis experience, upon its sale to HSBC Finance, I went back to independence with the startup of Mortgage Edge. e company went from a small shop to over $1 billion in production today. While serving on the Independent Mortgage Brokers Association (IMBA) board – now CMBA- Ontario – the idea of a national endeavour to strengthen and support true independence for brokerages came up. e model not only increases their revenue stream, but also provides guidance on how to build a business with long-term value. Hence, the creation of the Coalition of Independent Mortgage Brokers of Canada (CIMBC), which has planted itself firmly as the disruptive model of the industry in just three short years since inception. CMB: What's your philosophy for success? JB: I have been successful thanks to an ability to quickly identify my surroundings and what needed to be done to create opportunity from what most would see as adverse change. ere are always opportunities in every market; one lEgEnd Rolling With the Punches Veteran broker John Bargis reflects on the recipe for sustained success in this volatile, dynamic industry of ours By lisA gorDon

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