MBN Hot list 2014: Gord Appel

Who: Gord Appel
What: Vice-President
Where: TMG The Mortgage Group

With 10 years of mortgage experience and over 20 years in sales and customer service, Gord is Vice-President and broker of record for TMG Alberta. He is also the current sitting president of the Alberta Mortgage Brokers Association (AMBA).

Milestones achieved in 2013

• 2013 saw growth all areas of our business; volume, funding ratios, insurance penetration, agent year-over-year growth and profitability
• Volume is up 25 per cent
• Funding ratios are up
• Insurance pen rates are up 40 per cent
• Profitability rate is up 12 per cent

Goals for 2014

• It promises to be another busy year
• AMBA recently launched the best pre-licensing education course in the country
• The Real Estate Act will be reviewed by the provincial government
• The potential privatization of the Land Titles Registry
• The new task force created to help the Provincial and the National Associations work more cohesively and eliminate duplication where possible
• Looking forward to the important work our association is undertaking and yet another successful year for TMG in Alberta

Forecast for the industry in 2014
“2014 will be a year of continued change; some good, some bad, and some indifferent. I expect most of the major markets across the country will continue to remain strong, whereas the pockets of weakness will continue to fight for growth. The good brokers will, as always, adapt to the changes in the lending environment; providing their clients with innovative and thoughtful lending solutions. Their clients will be the educated. Theirs will be the advocate(s) for the broker within the marketplace.

Change is the new constant; the demand for the innovative, informed broker will strengthen the industry by washing out some the less committed and/or part-time brokers. The top brokerage houses will continue to focus on their internal client (their brokers) by providing them with the best in technology, marketing and education, allowing both brokerage and broker to stay in the forefront of the flux. Those that can’t afford this investment or don’t focus on their true clients will falter over time.

Let us not forget our lending partners. Sadly, in recent years we have seen the relationship between lenders and brokers/brokerages deteriorate. The feeling of reciprocity (or lack thereof ) can be chalked up to one of “what have you done for me lately”? This, I think we can all agree, is detrimental to both sides of the relationship. I expect both lenders and brokerages will look for creative ways to repair and renew a sense of “partnership” providing better efficiency and support within the industry and inevitably better solutions for not only the originator, but the lender and ultimately the client.

Is bigger better? It certainly can be if the corporate culture is one capable of providing that boutique feel while also making available the luxuries previously mentioned (technology, marketing, payroll support etc). This may be a difficult balance to achieve for some of the smaller brokerages without considering making the move to “bigger”; consolidation will continue to be a reality in 2014. The reasons for consolidation have also seen a shift from a focus on volume as the primary driver, to the alignment of culture, efficiency, best practices and sustainability also sharing the spotlight. In short, our industry will get better, faster and stronger as the best and brightest in the broker channel shine.”