Blog Article

Thursday, 11 March 2021

By Shawn Stillman

For the 5th consecutive year Mortgage Outlet is one of Canada’s top independent brokerages


https://www.mortgagebrokernews.ca/special-reports/top-independent-brokerages-2021-353552.aspx

For Elan Weintraub, director and broker at five-time Top Independent Brokerage Mortgage Outlet, freedom from network influence means more leverage in attracting and retaining quality staff.

“We can make decisions quickly, without a sign-off from a mothership,” Weintraub says, citing as an example Mortgage Outlet’s decision to not charge new agents desk or franchise fees, demand five-year commitments, or charge penalties if an agent decides to leave the company.

“Another strategy is transparency,” he says. “We share ‘secret’ lender commissions, which can’t always be done as a franchise.”

Independent brokerages can also benefit those on the other side of the desk, generating loyalty among agents in an industry known for its constant churn. Weintraub says Mortgage Outlet has been free to create its own corporate culture, which he describes as “conversational, confident, fun and educational,” rather than imposing one decided on at the franchise level.

“We shout ‘Go MO!’ every time we can,” he says. “This doesn’t necessarily align with a large corporation that has formal language and tone. We also have a clear strategy and long-term vision for MO, and it doesn’t necessarily match that of a big brand.”