Broker in Focus: Scott Stevenson, Mortgage Choice

Can you share with us a memorable or challenging experience from your brokerage career and the lessons you learned from it?

The challenges are diverse and constant. The industry is constantly changing, so the ability to adapt to change is crucial. One memorable challenge that comes to mind is that due to the Banking Royal Commission, property loan applicants were required to declare their personal budget and living expenses, which had to be verified by brokers. This was a new process for consumers and brokers, but in hindsight, this change ultimately benefited the consumer.

In my experience, the best way for brokers to overcome challenges is to be well-educated and be open and transparent when communicating with clients and lenders. I believe that as long as I do right by my customers, everything will be fine.

Could you give some valuable advice to people who want to become brokers or are new to the brokerage industry?

The main advice I would give to anyone thinking about becoming a realtor would be to make sure you have money set aside, especially if you are transitioning from a pay-as-you-go job to self-employment, because moving from a month-to-month job can be difficult to pay the salary for running your own business.

The other thing I would say is to not be afraid of change or technology and embrace it because it will make your process more efficient and help you better serve your customers. Life is short. So if you feel the call to become a mortgage broker, follow your heart.

Mortgage brokering can be an extremely rewarding career and no two days are the same. My advice to all new brokers is to work hard, take your time, celebrate the successes and keep working hard so that you can be successful in the long term.