Dominion Lending Centres Commercial Capital
Years as a commercial broker: 29
Sales volume in 2015: $138 million
Totals deals in 2015: 18
CMP: You’re approaching your 30th anniversary in the business. What keeps you motivated?
David Beckingham: I still get a great deal of pleasure out of loans and doing business with people. I’ve got a really competitive nature, and I love the challenge of taking a project from start to finish.
CMP: Being based in Vancouver, are you concerned about media reports of a property bubble? Or do you think the city is more like the London or New York markets, and pretty much recession-proof?
DB: I’ve been in the business almost 30 years, and I’ve never really seen a downturn in the Lower Mainland. In the outer-lying areas of British Columbia, the markets have been very volatile before – we had a downturn in the ’80s, the ’90s and one again recently. The Victoria market, Vancouver Island, Kelowna – they are all becoming very buoyant as an offshoot of the Lower Mainland market. I think Vancouver is an anomaly, and I don’t think the market here is a bubble at all.
CMP: The economy is very up and down because of the commodity markets. How does that affect your business?
DB: The Albertan market is tenuous to say the least, so we are very concerned about that. What has happened is that we have had a significant increase in the Lower Mainland, so what we lost in Alberta, we picked up in the Lower Mainland/Vancouver markets.
CMP: As a veteran of the industry, what are the major changes you have experienced since you first started in the business?
DB: When I first started, there were no superbrokers. Also, now there is an onslaught of regulation – it started ever so slowly, and it’s creeping forward more and more all the time. I don’t see that as a bad thing, though. As you regulate more, it becomes more difficult to get into the business. But with change, things are good.
CMP: How has it been adapting to the digital age?
DB: When I first got into the business, we didn’t even have email; we corresponded with telex and fax. Now the technology that is available is unbelievable. The world has profoundly changed.
CMP: So what’s the next step for your business?
DB: We are the Western Canada representative for Dominion Lending Centres, and we do have plans to open more offices. We would like to have offices in Calgary, Edmonton and Winnipeg, so that’s next for us.