Ladies and gentlemen, welcome to episode number 10 of Old School New World, The Life of an Entrepreneur. I'm your host, Mike Diaz. It's a privilege that we have a fellow mortgage broker, Roy, join us today. And before we dive into this dynamic conversation we're going to have, Allow me the honor of explaining a little bit more about Roy. And I've written it down so I don't mess it up because he definitely doesn't want to mess it up. And we've actually messed a lot of things up.
But that's for another time for another story. So Roy, who is a passionate mortgage broker and the voice behind Financial Solution, an empowering platform that makes money moves make sense with a focus on financial literacy, real estate investment and practical tools for everyday Canadians. Roy breaks down complex money matters into both digestible and reliable content that inspires action.
Dating back to his days as a monetized YouTuber, you heard me right, YouTuber, Roy's had a knack for simplifying what otherwise feels impossible and uplifting those within his community. Whether he's debunking financial myths, sharing credit hacks, or spotlighting real estate ownership journeys, his mission? is simple. Help people transform their mindset and master their money. It's a great honor to have Roy on today's episode. Welcome. Thank you. Thanks for having me. You're very welcome.
Looking forward to it. I've been looking forward to this for quite a bit now. I know that you're a well -renowned individual yourself. Well, thank you. I mean, I love to be on the podcast, so let's get it going. let's get it going. Yeah, for sure. So before we dive in, I have a secret question that I ask all my guests. And that question is pretty simple. Roy, please tell myself and our audience, what is your superpower? My superpower?
If I had to... say what my main superpower is, if I had to choose one, I think it's more so just my ability to connect with people, whether it's people my little age, maybe a little bit older, a little bit younger, maybe drastically older or younger, people that have authentic and organic conversation with them and connect on a deeper level to make it feel comfortable, which is very pivotal, especially in this industry.
I think that that's just been a knack of mine throughout my entire life, whether it be working at all the different jobs that I've worked over my lifespan, the type of family that I grew up in. It's just being able to adapt to whatever individual I'm trying to converse with and connect with. It's pretty... Easy for not just myself, but others as well. Yeah, you know, I love to hear there are a couple of words in there being authentic and organic.
You know, to have that as a superpower, it really is because, you know, it's sometimes too difficult for some. So thank you for sharing that. It's great to know a little more about you on that side. And so before we get into our full -fledged conversation, I want to let people know, you know, energy always wins.
And when he talks about making connections and building rapport with his clients and friends or just people in general, and that's because, you know, when you're authentic, as he described, thrives, there's an energy, like the energy here in this room, you can tell you're feeling the energy off this man, you can feel it. It's important to remember that energy always wins and collaboration. That comes from some of those good connections. So how did I meet Roy and we connected?
Of course, I have my great marketing team, Daniela, and she was able to reach out to Roy, send him a DM. So I slid into his DMs, I guess, if you want to say that. We reached out and asked if you want to be a guest and we liked what we saw and what he was doing already. He was gracious enough to reach out. And one of the things, because, you know, we're rebuilding our podcast set and there's going to be a new set that's coming up. And I asked him, I said, oh, we can do it virtually as well.
His preference and your answer. to me was? I'd rather do it in person. rather do it in person. If I have the opportunity to do something in person versus over the phone or on Zoom, I will always choose in person. Yeah. And it's funny, you know, he says, you know, a few years younger than me. I know it doesn't look like that, but it's incredible how that still is part of what he believes is important. And so we'll talk a little bit about that as well.
So today's podcast is really to reach out to younger people, help them understand sort of where, you know, Roy has come from, what he's done, how he's built financial solutions. He's currently with the Mortgage Outlet. So we'll talk a little bit about that and why he joined then. But let's dive in first. He was a banker. So let me turn the table over. Tell us a little bit about what your bio does and tell us a little bit about you as a person and how you chose this career. Good question.
Honestly, I feel like it's a mixture of a couple of things that led me to this. current position. I used to work at the bank and that was long after going to college for my business administration degree, which I initially started out doing accounting, just realizing really early on that that's not what I wanted to do for the next 40 years of my life. What I like to do is talk to people.
And even though I'm good at numbers, I'm good at math, I can do arithmetic really easily and break down equations. I like to converse with people and connect and figure out solutions, like to solve problems, like to, you know. put together solutions and working at the bank for just under three years as a teller, not as like an FSR, not as like a mortgage specialist, ironically enough. I was just talking to people day in, day out and solving their problems.
That was the role that I wanted to maintain because I had gotten numerous opportunities to get promotions and whatnot. But I didn't want to leave that role because I like the responsibilities of that role and the tasks associated with that role. Fast forward to the pandemic, lost my job. Obviously, banks were not really open. So I had to figure out a pivot. And right before the pandemic, I had actually closed my first property, which would also led me to getting my YouTube.
page, you know, as big as it got, because I had documented pretty much my entire journey of being a first time home buyer and what being at the bank and being a first time home buyer and having that platform all did when you kind of mix it all up and make one big, whatever pie you want to make it.
Everyone was just like, helped me achieve the same thing because i was sharing you know different financial tips that i would give to clients at the bank when they had x y and z type of problems and then i also shared people what i was doing to achieve a membership which i mean to many people in my age bracket feels impossible at that time how old were you when i was 26 27 okay yeah about that age and i bought a townhouse about it an hour away from my house. So I bought in Brantford.
I was living in Branton at the time. And like, again, it was just, people were just like in awe. Cause it's like, everybody has this kind of goal in their mind. And a lot of people write it off a lot earlier than others. And I was just very headstrong, very determined. And I made it happen. And a lot of people were just like, I want to do this too. Tell me how you did it. And so that would have been context. Yeah. Context of the year is 2019. of the year is 2019. Correct.
I closed on 2019. I had. Purchased it in 2018, so I had signed on for a year prior. Okay, so it was a construction townhouse. Correct. Yeah, it's funny, Noah, just to add on here, a lot of people think, oh, it's never a good time to get into the market, or I should have gone in a year before, or I should have gone in five years before.
And here's an example of telling his story about how he got in, how he sort of pivoted to mortgage brokering, was because he made the decision to purchase a property. We always say in our business, purchasing a home is an important financial piece. And couldn't be any more true, even for your career and circumstance. And I bring that up as a point because I'm sure that there's young people out there, just like Roy was, that might be thinking about what's going on.
Maybe they purchased a home and they thought the experience was not the best. They could do better. So I'm glad you're sharing that part of it for sure. Of course. course. And I mean, even you highlighting the experience part. That was part of the reason what led me to make this shift as well. Obviously, signing on the dotted line to get a pre -construction was a lot simpler back then. You never get to get a pre -approval. You could just walk in somewhere and say, hey, here's my deposit.
I want it. And that's exactly what I essentially did. And realizing that I needed my mortgage a couple months prior to closing, that process of trying to get my mortgage approval, not knowing what to have done prior was a whirlwind. And I didn't have the support or the guidance that I think I should have had to make that whole transaction a lot more. comfortable and less stressful and less chaotic.
So after closing on that property, having my YouTube channel, having as many people already reaching out to me for guidance and support, it was a no brainer to kind of make that pivot into becoming a mortgage agent just because. I could then be for other people who I wish I had for myself along the way. I love that. love that. Yeah. Thank you. Thank you. Yeah. Thank you. Thank you.
And I think that that's why I'm able to, again, connect with people so well is because it doesn't take long for me to put myself back in their shoes because I was in their shoes not long ago. Which is why I think a lot of my client base is for some homebuyers who could really lean on me for that, you know, that expertise and that, okay, well, what do I do about my debts? What do I do about my income? What do I do about my down payment?
How do I save my down payment? What's the best way to do everything so that when it comes time to buy my house, it is as. seamless and amicable as possible. That's kind of what I, you know, pride myself on doing now to this day. I don't necessarily do YouTube anymore just because it's more a different style of content that's required for that platform. really I want to sort of dig a little bit deeper. You said at the very beginning when you were a teller.
Yeah. And we talked a little bit about this off air, the value of being a teller because you get to talk to thousands of people. of people. Yeah. That's almost a skill. almost a skill. Yeah. Yeah. Right. Like you might not be good at it at first. Talk a little bit about that in terms of the added value it provided for you as you move forward. Yeah, being a teller was honestly one of the most fun, but also most influential aspects of my career.
Because as you guys probably assume, you're talking to so many people on a daily basis, but not just that it's quantity, but it's the variance. And you're talking to people who have problems as small as, oh, I have a need for overdraft. But then you're talking to people who have a need as big. as I need a certified check to buy my house. You know what I mean? So you deal with so many different types of instances and problems and different types of debacles, and you are learning constantly.
Whereas if you're in a different role where you're doing, for example, you know, credit cards all day, you're only going to be specializing in credit cards. Whereas as a teller, I was dealing with the entire possibility of what you could be dealing with. period when it comes to finances.
So now when I'm talking to clients, I have so much knowledge on different aspects of finance period that then also funnels them back into real estate overall, because your finances is the basis of what you're going to be able to achieve. Of course. So that, I think from a skillset perspective, being able to. talk to people about so much different things, but also different types of people. I was helping, you know, elderly people that were 80 years old and didn't know how to work online.
I will say, you know, my experiences as, you know, a similar sort of introduction to the banking world as a teller. And I've talked about Nathan wanting to be a broker. His mom and I both of you should probably start the bank. If you find that you're, for some reason, can't be empathetic, you don't understand maybe people's perspective because there's so many different perspectives.
To Roy's point, you know, when you're hearing people talking to a senior, we're talking about... someone who's just entering the market, you know, it almost forces you to connect with them in that way. Maybe be empathetic with the senior because you know, oh, you know, they're going through a tough time. You know, seniors, God love them. You know, they'd like to talk about what's going on in their day or with their kids or their grandkids.
So I think that's an important piece as well to keep in mind. A hundred percent. A hundred percent. Let me ask you about sort of as you progress through your journey, Let me ask you about sort of as you progress through your journey, then of course you took your mortgage agent. course. Correct. I did it on Remick. They have different options. have different options. Yeah, they're solid. Yeah, they're solid. They definitely got the job done.
I did the one week crash course where it was like eight hours a day for five days straight. Take the test afterward once you feel comfortable. And I think maybe collectively about a month, maybe a month and a half later. License was all good to go. And I chose my brokerage right after. So mortgage outlet, you've been there since the beginning. Correct. So you've been a broker now. Since 2021. So next thing I can see for you is a mortgage broker. Hopefully even less. Yeah, sir.
Whatever it is, I'm excited for that. Sort of the next chapter, as the bankers would say, a little title, but this one is a meaningful, something to aim for. So when you joined them and you've been with them four years, what drew you to them? What helped you make that decision? Maybe it was a friend that was there already. Maybe it was. You know, you looked at a couple of other places. What helps you make that decision? Correct. So you've been a broker now. Since 2021. So even less. Yeah, sir.
Whatever it is, I'm I actually didn't even vet any other places. I kind of knew where I was going to be going right from the jump. And the main thing for me was just basically having tutelage and guidance. I know that there was a lot of brokerages that had better splits or whatever the case was, but they didn't have the support that I was looking for. I think the biggest thing when you're going into, especially a career shift like this, right, where.
Your income and your success is directly tied to how you perform. You've got to make sure that you're able to shadow and, you know, be led by people who know what they're doing and can also help you understand what to do as well. So I prioritize that over anything from a monetary standpoint, like who would give me 80, 20 right off the bat. I want to know who is going to be able to be there to assist me and show me the ropes. as often as I needed to be shown.
So that's what led me to mortgage outlet. And, you know, it's worked out pretty well since. Yeah, no, for sure. You know, the great thing about that, and we talked a little bit about the stuff here, you know, he didn't let money lead the charge and make a decision. You'll never catch money. Money will always outrun you if that's what you're making your priority. So to his point, he focused on the support piece, what he was going to be able to do, how he was going to be able to better his career.
Then. You know, obviously the money is always important. Nobody wants to dismiss that we're in this business to help and serve, but we also have to, you know, feed our families and support our family and support the people we love. So good on you for making that first decision. And so, you know, what would be your top three things that you would look for if you were to look for another brokerage again, or if you're starting off new again, because you've had some experience.
Support, I would imagine, is up there. A hundred percent. A hundred percent. That's still number one. I wouldn't shy away from that at all. What does that support look like to you? does that support look like to you? Or what did it look like to you? Or what does it still look like? So routine and it's not just OK, like, for example, GDS, TDS and all the literal terms to go on with the mortgage application, but more so how do you maneuver through the entire process?
Because in this industry, it's all about experience and how you not only experience for yourself, but more so the experience for the client. So the consumer experience needs to feel a certain way. At the end of the day, that's what we're in the business of is making sure that.
the people that we're working for and on behalf of feel good about what you've done for them throughout the process and knowing, you know, how to, you know, have their first discovery call and how to identify the information that you need to get from them and what is going to be important and what solutions you put together for them.
That is what I mean when it comes to support and being able to openly ask these questions and openly, you know, attain the information of what it is that you need to do going forward. Make it a healthy exchange because if you have questions and they're not being fielded properly or people don't have time to answer them, then, you know, your questions are pretty irrelevant. Like the support is non -existent. So making sure that it's going to be a two -way street and that it's.
met with someone who's just as eager to help you on your journey as you are to be on your journey to begin with, I think is the main focal point of what support should look like and how it should feel. Secondly, I definitely think that, you know, what your brokerage's reputation is, is huge. There's times where I say what brokerage I'm a part of and the reception is met very warmly and I've seen other people say what brokerage they're with and it's like...
Question mark, question mark, question mark. Like, what? Where are you? I don't even know. And that inherently makes them want to trust you or not trust you if they can't even do a quick Google search on what mortgage brokerage you're with. You want to have a little bit of presence. You want to have a little bit of presence. You know, I will say, you know, of course, I'm founder of DNA Lending Group.
But one of the things even before I started the brokerage clients and friends and people that we help and serve, you know, sometimes. forget about who the brand is or who the brokerage is because they're dealing with the individuals. Right. I think it's important some presences there. A little bit, at least some. Yeah, and making sure they're around and they can be, they're non -existent. I think that's very much the case. Exactly, exactly.
But to your point, for sure, I think that's, you know, reputation, you know, the banks as an example. reputational risk for the banks is like right at the top. You know, obviously want to make sure people are recognized as pillars of the Economic Foundation in Canada, you know, reports or stories. Oh, the banks kicked me out of my house.
They make sure that the same thing when we're dealing with brokerages that we're joining, you want to make sure that they're reputable and looking after clients the right way and things of that nature for sure. Yeah, and Agreed. And then I would say maybe accessibility. What lenders do you have access to? I know not all brokerages are created equal from that perspective of having access. to X, Y, and Z type of lenders.
And obviously the more options you have to provide to your client base, the better. So there's been times where I've had clients who were comparing me with another broker that they were also conversing with. And I just thought I had other options that that other broker didn't have. Okay. That is a different figure at times. Yeah, for sure. Options and being able to provide clients in those different circumstances. I think you may agree with this. You don't need all the plethora of progress.
I agree. You want to have a solid base of, you know, going really old school Rolodex of things. If you've been on Rolodex for the young people, I'm sure you will. Google it. It's a small thing device. But the options available are important. I agree. So let's dive in in terms of how do you generate leads? Because that's always something that people talk about. Are you going to send me leads? Yeah. Tell me, you know, what led to your success. because you're a successful mortgage agent.
So tell me what leads to some of that success. Yeah. Even just to attest to what you were saying, what you label your value ads or your value props as is going to be dependent on obviously what your strengths are too. And if one of your strengths is not lead generation for yourself, then I do think that you should value lead generation from a brokerage. That's not really a concern of mine particularly. My main lead generation source is social media. Even just kind of going back to the YouTube.
background. They go hand in hand. mine particularly. go hand in hand. I don't have any problem putting myself out there and, you know, providing information that will make people want to reach out to me to get the help that they're looking for. I think that there's, you know, the old fashioned, you were talking about Rolodex, the old fashioned ways of, you know, cold calling, for example, not really my cup of tea. And it's not because I can't do it. I just don't enjoy doing it.
And I think that your enthusiasm, we're talking about energy. It's very easy to pick up if someone is calling you out of obligation or if they're calling you because they truly want to. And you have to think about how the person is on the other end of that phone call when you do that. For example, I hate being cold called myself. I don't like when people call me to clean my ducts. I don't like when people come to my door to ask me if they can check my attic for mold. I'm not a fan of it.
I would rather seek out who I want the information from. And I think in 2025, in our current day and age, the reality is a lot of us pick who we like based off of who we're seeing and how they appear to us off of first impression. So I put myself out there on TikTok, Instagram, Facebook, whatever platform that there is. And I put out the information. If you like it, you like it. If you don't like it, cool, keep scrolling. And it's fared pretty well for me.
And I think the main aspect when it comes to that is A, again, being authentic and organic. And similar to the cold calling, people can tell, is this something that's scripted? Is this something that is true and organic? Does this person really know what they're talking about? And granted, maybe you see one video and you're like, okay, that's a cool video. Don't know if he really knows what he's talking about. But it's also strengthened the repetition, just like with cold
calling, right? If you're putting out one video and expecting a slew of beats to come in, you're not really doing it the right way. You've got to do this day in and day out and build a routine behind it, just like you would with cold calling. So that's kind of how I built my business. and Yeah. The word about the routine and the practice, you know, I have 30 steps of success that my audience has heard. The first six ones, one of them is, hasn't been talked about yet, but will, is practice.
Athletes, for example, they practice 90 % of the time. you know, and play 10%. So when you're looking at that kind of thing, so, you know, that repetition going over and over is super, super important. And a way to create that confidence and maybe the authentic way of delivering a message, you have to look in the mirror and do it over because it's important to get comfortable with being uncomfortable. So how do you do that? Talk in front of the mirror and as if you were talking to someone.
I know that sounds kind of, you know, outlandish or why do I do that? But just as it's important, this is back to sort of overall well -being and mental health. Look in that mirror and maybe practice, if you don't do this, a bit off topic. Hey, Mike, I love you. And you're talking to yourself, of course. But that practice and that repetition and just being reminded that I think is so important. Let me ask you your opinion on referral sources, like referral partners.
Do you have that in your network? A thousand percent. How did you establish those? of course. Same thing. That's the beauty of it, I feel, is that. The same way that a client could reach out to me because I saw a video that aligns with them is the exact same way that almost every single one of my referral partners have reached out to me too. They have clients that need to be serviced. And who do they want to trust with
that great of a responsibility? The person that they've seen talking about a numerous amount of things that can also then solve these problems for them and their clients and provide the exceptional service, right? So almost all of my referral partners have pretty much come from contacting me first because they saw a video that they like. They want me to either elaborate on it for them to then regurgitate to their client, or they just want me to talk to their client directly.
And now we create a partnership from there onward. All realtors, some realtors? Mainly realtors, a couple of accountants here, more social and financial advisors too, lawyers as well. It's a mixed bag, but primarily realtors. Okay. Talk to me a little bit about, because some people might be wondering, reciprocal nature of the business. So if reaching out to you and they're sending you a client, do they expect something in return? How is that relationship that
you've created with them? So I think the expectation is different across the board, think the expectation is different across the board, but primarily the expectation is just for me to support that transaction or whatever clients they send my way. in a way that reflects one on them for their business. Right. Granted, I don't know why it is this way, but you probably agree as well.
I find that clients reach out to realtors first, even though they should reach out to their mortgage broker or agent first. So a lot of the times the client reaches out to the realtor first and then they're like, well, I can't do anything until you get a preapproval. Right. Talk to Royston. So it's not necessarily always going to be a two way street where it's like, OK, I got one client from you. I'm going to send one back. It's not one for one.
But in the event that I do get a client that has reached out to me first and doesn't have a realtor and also it aligns with what they're trying to do. Some realtors are investor based. Some realtors are strictly good for condos and they only specialize in condos. Some realtors are in Sudbury, for example. You know what I mean? Location plays a factor. So if I find, you know, that it aligns, I will send that client back to.
who it makes the most sense for right it is a two -way street it's just not a one -for -one two -way street yeah and i think realtor relationships they have with whether it's mortgage brokers and i think realtor relationships they have with whether it's mortgage brokers You know, one thing I want to like you, I want to be able to connect with you. So I think that's an important piece.
And then, you know, value of counsel and advice, you know, and building beyond like, you know, I'll send you one if you send me one. I mean, a lot of time it's not sustainable if that's all you expect. That's why my thoughts on having a lot of realtors, I don't know if you need that, might have two or three that you really like. You can talk to that. Do you have a certain amount or do
you have a large amount? I mean, if you talk about like who I've done business with, you talk about like who I've done business with, I've done. business with, I want to say like north of like 60 realtors. But I definitely have a core maybe 10 that I do.
constant business with and then i have a couple that come in for a couple maybe they go elsewhere for others and that's totally fine because again much like i'm saying you know there's a particular transaction that a realtor might fit well with they might feel that there's a particular mortgage broker that this client fits well with versus another so i'm not going to be too much of a stickler when it comes to something like that but yeah i would say like it's a wide range of who i've done
business with overall and will do business with overall but then i have a core base that i will do business with on almost like On a weekly basis, it's almost everything I do for that. Let me dive into what's been going on in the market. So, you know, you can share what you want with our audience with respect. So how was your year last year? Do you feel the ups and downs? For sure. And, you know, how are you finding the first quarter of this year?
What are you seeing your clients talking to you about? What's keeping them up at night? Good question. For sure. Good question. Honestly, every year has been an ascension from the year prior, and this year's been no different. It's been incredibly busy, which is always a good sign, especially in entrepreneurship. If that's something that people want to get in, If that's something that people want to get in, or even they're in the business, maybe they're stuck. We're all going through the same,
right? We all have the same feelings about, oh, am I going to really do well this year? Is it going to be like last year? But it's a process that's important to keep in mind and make sure you're always doing what's in the best interest of you. Whatever it is, you're helping and serving. Of course, it is, you're helping and serving. Of course, 100%. And I think the conversations are a little bit different. There's a lot of uncertainty.
There's a lot of anxiety, which I mean, granted, there's always at least a hint of anxiety, but I think a little bit more so now than in years prior, just because there's just so much turmoil. We're also dealing with the tariff situation and what's going to happen with our government and where's the market going in terms of interest rates.
And it's just, there's so many different moving parts and people want to be able to make moves or people want to be able to, you know, figure out what they're next. step is going to be. But in the midst of so much uncertainty and so much gray area, they kind of lean on me for, like you said, that advice.
And it's just a matter of me making sure that I'm staying up to date, staying current and doing my research so I can give tangible and reasonable feedback back to them, despite whatever their situation might entail. But I'm also just seeing a lot more action being taken more so than last year. I think a lot of people were setting up. Last year, granted, there was still a significant amount of activity last year.
In addition to the activity, there was a lot of people that were just like, OK, let me position myself for the next year when I think it makes sense for me. Right. And I think that a lot of people are sensing that there's a window right now. And I think that a lot of people are sensing that there's a window right now. And, you know, if I was looking to transact right now, I'd want to take action before that window closes. Right.
Because once there is that semblance of, you know, stability and everyone's like, OK, the worst is behind us. then that's when prices will start to increase. And people don't want to be in that predicament paying more than they had to had they taken action sooner. So a lot of people are looking to just kind of get that understanding right now. What do I need to do to be in the best position in three months, six months, a year from now? Or what can I do right now?
Because I see a lot of opportunity and a lot of things that I like right now, which I think there's an abundance of right now. Do you have a best practice of what you're doing with clients that maybe you haven't talked to before? you have a best practice of what you're doing with clients that maybe you haven't talked to before? communication that you're sending to them. And, you know, this is being recorded today, April 16th, but the Bank of Canada held rates the same.
Are you reaching out to clients before, after, during, like, what's your communication piece with your client base? Constant follow -up. It can be meticulous, but it's necessary. I don't want to say it's cookie cutter because it isn't. And the reality is everyone's follow -up should be different because everyone's situation is different.
I'm a big fan of, okay, if our first conversation is today, your situation is A. You want to do B. We're trying to get you from point A to point B. Everyone's distance from those two points is different. Maybe based off of where you are currently and where you want to go, you require a monthly follow up. Right. So I'll be following up with you May 16th. Right.
Maybe it's someone was like, OK, based off where you are today and where you want to be, ideally, maybe there's a lot more work that needs to be done. Here's what you need to do between now and then. We're going to follow up in July. And I'm setting my constant reminders to follow up with people and I'm setting it on the call.
Like I'm not letting people, you know, okay, you get back to me and you let me know because the reality is I want to make sure that people understand that I'm just as invested as they are in their journey. And I think that's, again, speaking to how you're able to connect with people and really build those relationships. It starts from the first conversation because if people get the sense of, okay, you know what, you're just doing this because you have to.
You tell me to follow up when I'm ready. You don't really care. Right. And if they don't feel like you care. then they're going to find somebody who does. Right. And that person might be me. So let me ask you about your follow -up. let me ask you about your follow -up. So I agree. Follow -up is super, super important. You know, that's one of my 30 steps is the follow -up piece. Do you have CRM? Like what have you incorporated into your business? Yeah, I use Zoho. Blue Mortgage? Correct.
Okay. Yeah. Tom, shout out to you if you're listening to the podcast. Tom is supposed to be a guest. So Tom is the founder of Blue Mortgage. Tom, founder of Blue Mortgage. Ah, well, I need to get his contact information. I think Blue's a great platform. He's finding which platform works. Yeah. I have no problems with it, and it's just a matter of doing the fine tweaking and specifications to make it cater to how you like your things to be set up.
But my follow -up is based off of CRM and Google Calendar. It really is that simple. And just making sure that you're taking notes, making sure that you know exactly what was talked about on day one, so that when you follow up on day 30 or day 60, you know what it was talked about. putting down what was the advice given so that you know what to follow up on in X amount of time. You know, Yeah. Royston, you said your friends call you Roy, right? But you said you called yourself Royston.
Now I'm among the feds. I'll answer to both. But what do your best friend call you? right? Right. Okay, right, okay. I just want to make sure. Should I be my best friend? No, yeah, no, excuse me, excuse me. All kidding aside, it's music to my ears with respect to these notes, right? So I'm a big journaler. Like if you ever look at my CRM, and I've had a couple, but, you know, I've been with Blue for the last 18 months or so.
But because of how I created that platform, so I want to share a little bit about this. no, All You look back at my notes, I have them as old as 2013 starting. It's all dated and it's almost date stamps. all dated and it's almost date stamps. And to your point, compliance in our business, of course, as you all know, is important and it needs to be adhered to.
If somebody, a compliance officer or audit of your file is being picked up, And you shouldn't have to describe what you did with this file. The compliance or audit person should be able to read.
everything that's happened with that file and that's the important part of the note so you know music to my ears i love hearing it because it gives me belief and faith to be honest that you know because you're from a different generation than i am right you know 15 years removed from where i am where you are currently and to hear that you know makes me feel good about it you know that's why there's that 80 20 world 80 percent of business done by 20 of the people because i think there
are practices and processes right i think there are practices and processes that are important to be in play to continue your success. So good for you for doing that. Thank you. Super impressed and just happy to hear it. Thank you. I appreciate that. That means a lot. And I think that that's a direct testament to, again, what brokerage you choose and what tutelage you're getting because it's ingrained in me. Yeah. Yeah, I know for sure.
We were talking a little bit about the marketing demographic and not the uncertainty. So of course, like I said, the Bank Canada as of April 16th held weights. Do you have any forecasting? Are you in the postcasting prediction game? I am not. Yeah, it's like some of your mentors, perhaps, or the leaders at Margella, have they shared something they believe might be happening in the markets? Again, nobody knows.
I share my sense on the market and provide as much counsel and advice as I can from the data that's being produced, bond yields and the curves on the yields and treasuries in the U .S. But is there any, like, what's your thoughts? I mean, I am not. Yeah, it's like some I the mean, my personal thoughts are that, like, I don't think we're at the bottom just yet. in terms of rates and what's going to be happening with the Bank of Canada, but I don't think that we're far off from it.
And the reason behind that is just, I don't believe in the notion, and I've said this from prior to the rates being decreased over the past, what, eight, nine months. We don't want to repeat what we just experienced, right? So by bringing rates all the way down to the high ones and low twos, I don't think that there's any benefit in it. And those are not going to be around for a long time. Exactly.
And the norm prior to those ultra low rates, was around that three -ish, you know, mid threes, low threes. So let me peel back on you a bit more. let me peel back on you a bit more. So from 2002 to about 2007, before the financial crisis, rates, believe it or not, were like five and a half, 6%. Yeah. Okay. But property values were lower than what they were. Financial crisis hit, rates dropped, rates were low in the... You know, 299 range to 3 .5 range for a long while.
Then you had BMO who came out with a 199 rate. And then I think HFD, you know, 0 .99 % from 2010 to 2019 or thereabouts. Before COVID, here's the interesting part. than Rates were already getting to the 3 .8 to 4 .2 range. People were really nervous about that. And then, of course, COVID, they dipped and then they went this way. But to your point, normalization, maybe low threes. To low fours, I think is where it's going to go. And I think that's where we are right now. Yeah, yeah, yeah.
It's in a lot of cases, depending on the products and depending on the transactions. There's three buckets, as we talked about with rates, that people get sort of slotted into. So that they have one rate for everyone just doesn't exist. Exactly. But it's interesting about how it's going to sort of normalize. And I think that's healthy for the economy. Agreed. Here's something I've also said before. Clients are typically only careable rate. And I think that's where we are right now.
yeah, Because there's a lack of value or there's an absence of value. Now, what I mean by an absence of value, whether it's the value you're providing, whether it's the value of the product, people only will choose rate or focus on rate because there is an absence. of value. And I think that's super important. I agree. You're being mindful of that. And that's good just for our young listeners. Those are, again, maybe just starting out.
Somebody that's, you know, in their 20s and they're trying to engage, you know, how they're going to navigate the industry. If I could make a recommendation, it would definitely be make sure you focus on meaningful, valuable conversations. I agree. You know, because a lot of the things that people want to focus on is just rate and do yourself a disservice. I agree. And you're not doing any kind of service to the client.
And even if they started, I think it's our responsibility to help them steer away from the rate. I do understand the implication. do understand the implication. You know, over the past, I think, two years, the most common rate obsession. There was like some specialty products where like you can get an ultra low rate compared to all of the lenders for six months. And then after that six months, you're getting an inflated rate for the remaining however many years.
And or you're paying a very hefty penalty to leave that lender. I have not put a single one of my clients in this product, but I've had a numerous amount of people who got put in that product by other brokers have reached out to me afterward because they're like, well, how did I not know? And I'm like, well, you know, first of all, the onus is on whoever your representative was that told you about this. in the first place because this is not something that is just known by the general public.
Someone brought this to you and they didn't educate you on the full extent of this product. And now you're in a position where you regret taking it. The six, well, let's call it a half a percent discount that you may have gotten. It wasn't worth it in the long run because now you're facing a percent higher than what you should have access to for an extended amount of time. or a large penalty out of pocket that needs to be paid.
And again, having the larger focus on not just rate, because not to say that rate isn't important, but on all the other aspects and all the other implications of what it is that you're actually signing up for versus what else is out there. Right. years. And And the other thing to be mindful of, a client who's going to save, let's say, $5 ,000 over a five -year period, if they're not being told or talked about the value of another product that could save them.
$20 ,000, it's not the rate you're getting and the difference that is going to prevent you from save on interest or pay more interest. It's how it's going to all work out in the long run. In terms of saving money, I had a situation where someone's closing on a pre -construction, as you know, that's going to cause stir for appraisal. And there was a difference of, I think, maybe 0 .2 % on the interest rate.
One lender was requiring that appraisal, and the one that had the slightly higher interest rate was not. And we were not confident in property appraising, which would have then cost that client a whole large lump sum down payment because that would have been a reduced mortgage amount overall. So that is a huge example of not glorifying or over obsessing over interest rate when you have to look at all the other value adds, especially when looking at things like path of least resistance. Yes, yes.
I can't stress enough how important it is to provide clients, even our partners, our friends with counsel. and advice. The industry no longer should accept order takers and paper pushers. It just shouldn't, you know, but there's a lot because they don't get to support. They don't have the confidence. They don't have the understanding chasing money. Remember, money always outruns you.
So those are things, you know, the industry needs as a whole, mortgage broker industry, the real estate industry, the financial advisor industry. Everyone, especially during uncertain times like Roy and I are chatting about, they need counsel and advice, not paper pushers and order takers. So in closing, let me leave you with the last word, Roy. Where do you see yourself in one, three, five years? I'm not asking you to go into detail, but you've been in the business four years now.
You've had some great success built on the strategies, the processes, the follow -ups. Where do you see yourself? Doing and how the industry might change a bit as we close out our episode. Good question. Honestly speaking, I'm a very lofty goal setter. So, I mean, last year I was the number six overall producer at my brokerage. Nice. This year I'm going to do crack top five. And then in the next. Three and five up in the same bracket. A goal of mine, I want to create like a lending.
I don't want to be necessarily a private lender, but I do want to get more into the realm of lending just because there are a lot of situations where, especially with first time home buyers, that there's just a hurdle that's hard to clear for them, especially with the market trending in the way that it's trending. And I want to find a way to creatively help people get into the market, whether that be, you know, for a short term.
push up just to kind of help people get in and then they can kind of find their footing afterward. But that's kind of one of my missions is just to kind of help for some homebuyers specifically, because I know how difficult it can be. I have those conversations on a regular basis and I feel the pain and the disdain and I kind of want to just find a way to help out in some way. And I think that if I can find. you know, a niche type of first -time homebuyer mortgage solution, be the pioneer of it.
I think that'd be really impactful and helpful. Yeah. And then, you know, Yeah. And then, you know, I super respect that a great deal. It's hard, It's hard, but I'm trying. Yeah, no, but listen, you know, Yeah, no, but listen, you know, it's funny, you know, I say it all the time, you know, the future is created in the present. So the fact that you're thinking about it brings some action to play is respectable. I admire that. It just speaks to who you are as a person.
We appreciate having you on our episode. Hopefully we'll have another one. Yeah, of course. When you get that studio set up. Yes. Yeah, of course. When you get that studio set up. Yes. Yes, thank you. Let's not let up all the secrets. Yes. Yes, thank you. Let's not let up all the secrets. If our audience wanted to get a hold of you, what's the best way of them connecting with you? It won't be hard to find me. It won't be hard to find me. You can open up your Instagram.
You can open up your TikTok. Type in Financial Solutions. That's F -L -Y -Y -N -A -N -C -I -A -L dot solutions. And I am only a click away. Amazing. And I will say this in closing. I will say this in closing. I may have said this once before. Of course, podcasting is something that I really love and I'm passionate about to share and help young entrepreneurs. Don't forget to subscribe and like. We love the support so we can continue to grow this.
The more subscribership we have, the more opportunity we'll have for more people to hear the messages that we're delivering. And again, Roy, thank you so much. I truly appreciate you and appreciate the opportunity to go over everything we talked about today. So thank you. truly Thank you as well. Thank you, guys. Enjoy.