No. 5: Michael Noik

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No. 5: Michael Noik,Dominion Lending Centres Centura Finance
Like a rocket, this broker has shot up in the standings, bringing with him the city of Montreal and strong evidence of that market’s growing strength.

Q&A WITH NO. 5 Michael Noik

CMP: You did better this year than last. To what do you attribute your growing success?
Noik: I attribute my growth to our team environment, which really is more of a family. We have an incredible office with outstanding support staff and I have built excellent relationships with my lending partners. Our team looks to one another to help better understand client files and get them approved. At the end of the day, rate is nothing if you don’t have an approval. Lender product and guideline knowledge is key – especially these days. We work with our key lenders and learn their products inside out. Having the DLC brand behind us also helps in ensuring we’re constantly growing.

CMP: Is there one single opportunity brokers are letting slip through their fingers?
Noik: We need every brokerage and association to work together to educate the public on the value of using a mortgage broker. Not enough people understand that brokers should be their first option for all their mortgage needs. We also have to make it clear that we are licensed professionals who can offer true selection for the client, as opposed to the bank, where their mortgage personnel are not similarly licensed and can only provide one institution’s products to clients.

CMP: Which product was your best performer this year?
Noik: I definitely had a lot of clients opt for the 5-year fixed over the past year.

CMP: If you use rate sites, do you feel you could have had those numbers not using a rate site?
Noik: No, I do not use rate sites.

CMP: What is your No. 1 marketing technique that you credit with building your business?
Noik: In the 10 years I have been brokering, my #1 success for growing my business has always been word of mouth. You just can’t buy that kind of exposure.
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