Canadian Mortgage Professional Magazine -
[Cached Version]
Published on: 5/1/2006
Last Visited: 8/22/2008
Greg Williamson, broker/owner of Canada Mortgage Direct in Calgary, became a partner in just such a deal less than two years ago.Williamson was approached by Calgary-based Royal LePage Foothills real estate broker Ted Zaharko and a contract was formalized.
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"Initially, my response was I wasn't too crazy about that idea," says Williamson.
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Williamson, however, is convinced."There are a lot of people who struggle in prospecting but can actually do the deals and be a good sales person when they get deals handed to them," he says.
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"Now, would Greg Williamson go and work for 50%?Absolutely not.But all I have to do is put two other people in there and manage and coach them and give them support and then I still make money at it.So, it's more of looking at it as a business owner," he says.
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"To a certain extent, even in my local marketplace, I took a lot of heat for doing this deal," Williamson admits."I still do, to a certain extent.And I've often thought it's unfortunate.Calgary's made up of a lot of long-term, been in the business a long time, good, solid companies and so my take on it is they really don't want to change that easily.And I didn't certainly go seek this out but if somebody seeks me out and says, 'Do you want to do a business together?' I'm going to listen and, if it makes sense and I can make money at it, then I am going to try it."
As for future partnering opportunities, Williamson says he has received other offers, including the potential to work with real estate offices in Edmonton, Lethbridge, Medicine Hat and Red Deer, but he has turned them all down.He says there were two reasons behind this decision.
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So, real estate brokers started to figure that out and say, 'Well, I want a piece.' So, that's why I think you're seeing more and more of that happen," Williamson says.
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"You see the lawyers now getting in the business, you know real estate brokers are going to get more and more in the business and you see financial planners are considering getting into the business," says Williamson."So, my contention is that - not only in the mortgage industry but even in the real estate, all of the different industries - the traditional lead generation sources are becoming overworked or they're not working as well.I think that the successful mortgage originators today are getting a bit of blinders because the market Canada-wide has been so great that you don't really have to worry about it.But, if it changes, where are you going to get business from tomorrow?
"I believe that the industry is changing and traditional lead sources are becoming different and less reliable so you need to find new ways to maximize those lead sources,"Williamson contends.