$1 Billion Dollars Funded and Nary an Ad in Sight

VANCOUVER, British Columbia, December 5, 2013 – Michelle Beet and Susan Cowling, a mother daughter team located in Port Moody, British Columbia, have surpassed $1billion dollars in funded residential Michelle & Susan Photomortgages.

$1,000,000,000.00 dollars in funded residential mortgages since 1998. At an average of $300,000 per mortgage that’s over 3,330 mortgages over 15 years which  makes for over 200 funded per year or about 17 funded per month. That’s a mortgage funded every 2 days for 15 years. Phew! That’s a lot of mortgages!

The most interesting part of the story is we achieved this number of mortgages without ever running an ad campaign in conventional media. Oh, we tried the odd mortgage rate style add in the local papers at the beginning, but we’ve never really done anything but one-off ads. In fact, it’s only recently we began to work on social media style marketing, such as this blog, but really only as a better way to stay in touch with our existing clients. For that reason, we can honestly say that all our business has come from referrals. Either from realtors, lawyers, accountants, other business owners we know and most importantly, referrals from past clients.

If we were writing a press release on this milestone, it would read something like this:

Susan Cowling and Michelle Beet, a mother daughter team of licensed mortgage brokers in British Columbia, have surpassed $1billion dollars in funded residential mortgages. Since 1998, when Susan made the switch from real estate sales to mortgage brokerage, the team has provided mortgages to over 3,500 home buyers and clients looking to refinance or renew existing mortgages.

“When Michelle was still in high school I used to pay her to enter mortgage applications in the evenings and on weekends” said Susan, who is also owner of Mortgage Alliance Meridian Mortgage Services. “When she finished school, Michelle attained a position with HSBC in their mortgage department, so she could get some experience outside of the family.”

After a few years, Michelle joined her mother as an assistant and licensed mortgage broker. Now, Michelle and Susan jointly work to ensure their clients receive top service along with the lowest mortgage rates available in Canada.

“I can’t believe I’ve worked with my Mom for over 10 years now” said Michelle. “I am very proud of our accomplishments and feel lucky to be able to work in a family business”

Michelle currently sits on the Canada Mortgage and Housing Corporation (CMHC) Broker Advisory panel, is a past member of the Genworth Capital Broker Advisory Board, was ranked number 4 in Canada by CMP Magazine for top mortgage brokers in Canada and is a First National Wizard Level Broker. She is also a member of the President’s Club with The Mortgage Alliance Company of Canada.

In 2013, Susan and Michelle surpassed $1billion dollars in mortgages funded over their years working together. Mortgage brokers are licensed through the Financial Institutions Commission in British Columbia, and deal with mortgage lenders directly through an online application system. A mortgage broker works independently from any one bank or lender, and can therefore shop the market for the lowest and best mortgage terms for their clients.

Traditionally, mortgage brokers are paid by the lender, so their services are for the most part free for borrowers.

“I made the switch from real estate sales to mortgage brokerage because I saw a need for borrowers to have access to more lenders and services in regards to home financing. Before brokers, borrowers would have to apply at numerous lenders, which would cause a high amount of credit checks on their credit bureau. This can adversely affect a person’s credit rating.” said Susan. “With a broker, we do one credit check and then can advise the client accordingly.”

Prior to mortgage brokerage, Susan was the Marketing Director, Western Canada for Royal LePage Real Estate Services, one of Canada’s largest real estate companies. In the early nineties, Susan worked as a licensed Realtor in the Vancouver area, attaining credit as one of the top 10% of Realtors in the Real Estate Board of Greater Vancouver.


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