Cover / BROKER OF THE YEAR
Peter Majthenyi Mortgage Architects Toronto, Ont. If the banks are your competition, why not start offering the kinds of services available at the local branch? Since 2007 Peter Majthenyi has been building onto his mortgage brokerage business with insurance, financial planning and even selling RRSPs. “Our biggest challenge is being able to do more for the client, rather than just arranging a mortgage. We have to compete with the banks and we do more than just mortgages. We need to build a fence around our clients and protect them from the predators, which are the bank branches,” says Majthenyi. “To be profitable, to grow, and to maintain our clients we have to do more for our borrowers and be more like a bank branch. It’s a never ending process adding more product lines but we’re getting there.” He surrounds himself with other experts, bringing them in to run the other elements of the business. “That’s really the future of the mortgage broker,” he says. “That’s what makes us different – if you came to our branch you’d see two businesses side by side. We’re generating a lot of income by selling insurance and financial planning but we’re keeping that in-house instead of referring it out.” A focus on marketing is crucial, and Majthenyi says they rely heavily on their clients for that. “We try to turn them from clients into disciples, they’re our sales force.” Technology is what keeps the brokerage in touch with clients and ensures maximum efficiency, says Majthenyi. “Don’t mistake activity for productivity. We rely on technology to ensure we maximize our time and our clients’ time.” Working as a broker is full of inspirational moments says Dan Mass, from helping other brokers to feedback from clients.
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Don’t mistake activity for productivity. We rely on technology to ensure we maximize our time and our clients’ time Dan Mass VERICO Canada First Mortgage Calgary, Alta. “I used to look for those pivotal moments but I’ve learned over time that’s not what I’m looking for. I’m looking for the little personalized moments, which resonate just as loud. To me it’s when the feedback I get is one of surprise and fulfilment in one’s work.” It’s been seven years since Mass and his wife, Stacey, launched their brokerage, and 11 years since he started in the business. The family roots influence how they treat associates and partners, giving the brokerage a familial feeling – although it means work talk can dominate conversation at home sometimes. “My family – my kids and my wife – motivate me,” says Mass. “Our relationship has flourished over it. I love the amount of time I get to spend with my family. We’ve been fortunate enough to be able to create time to be with them and not be nailed down to the nine to five in the office.” The firm focuses, he says, on unity and respect, for colleagues and clients. “We don’t have any business to do without clients and I think we have to treat each other with respect and support. We haven’t wavered from that.” The changing landscape of the industry has been a challenge, but it’s also pushed him to be creative. “The biggest thing is trying to stay ahead of the curve in reaching for what our biggest obstacles will be,” Mass says. “I don’t think my view has wavered since the day I started. I still say that we’re in a vibrant industry and one that continues to hold opportunity.”
Working as a broker is full of inspirational moments