Young Mortgage Brokers Demand More From a Maturing Industry

The Next Generation Of Mortgage Brokers Seek Structured Mentorship Programs

TORONTO, May 31, 2012 /CNW/ - Canada's next generation of mortgage brokers, those entering the industry fresh from university or college, are hungry for a taste of what they grew accustomed to in those institutions of higher learning: structure.  These findings are gleaned from more than a year of ongoing discussion and feedback from students of the mortgage broker industry's Real Estate and Mortgage Institute of Canada Inc. (REMIC)

According to REMIC President Joseph White, the structure most sought by new entrants into the mortgage broker industry centers on more formalized post hiring training and mentorship.  As one 24 year old graduate explained, "After completing the course I enthusiastically sought out a brokerage that would continue my training through a mentorship program.  I could find the right product and lender for a client, I just didn't know how to find a client.  And I couldn't find a brokerage to teach me that in a concrete, structured way that would produce meaningful results".

Although Mr. White argues that there are brokerages that provide this type of support, it is not the norm.  Most brokerages focus on providing hard skills training so that the industry has technically proficient practitioners, "which is fantastic for consumers," Mr. White adds.  However, while the industry has perfected this training regimen, there is a growing need to incorporate soft skills training.  "Young entrants in this industry are craving more in depth, soft skills training to learn how to manage their business, incorporate technology, grow that business ethically and flourish as a young professional in what can be a fantastic life-long career".

Director of Education and Training, Cain Daniel, agrees.  "After identifying this growing need, we've incorporated those vital soft skills into our new web initiative, which we are launching this week", he said.  "After all, it's important that we support the industry's next generation.  It's not only good for the health of the mortgage industry, but the real estate industry and the economy as a whole."

REMIC was founded in 2008 and is considered a leading authority on education, licensing and training in the mortgage broker industry.  The organization offers various resources for mortgage brokers, including live events and online resources at www.remic.ca

For more information on this topic or to schedule an interview with Joseph White, please contact Cain Daniel by phone at 1-877-44-REMIC (73642), by email at [email protected] or visit REMIC online at www.remic.ca