Coming out on top of the industry

BM Select CEO David Butler is leading the mortgage industry with his winning business model

Coming out on top of the industry

The mortgage field is anything but easy, with competition fierce and more choices than ever before for the investor and consumer. That means mortgage brokers need to go the extra mile to lead the mortgage pack – it’s not enough to just negotiate a cheap deal.

To truly shine, brokers need to stay on top of current trends and provide unique services while keeping their eyes squarely on the prize – the client.

By taking the time to determine what a real estate investor is looking for and viewing the client from the perspective of their own unique financial picture, the broker can step up their game to a higher level.

Cruising by the competition, David Butler, CEO and president of BM Select, has always put the unique needs of the investor first and has proven that he has the right mix of fortitude, commitment, and a seasoned understanding of the business to reach the highest rungs of the mortgage ladder.

The mortgage business is virtually in Butler’s genes. Following in the footsteps of his father, Butler had the good fortune to see the inner workings of the mortgage field from a very young age. 

From this vantage point, several things became clear to him when it was time to take the reins. Butler realized that the broker space was often not perceived in the best light.

“I thought it was a weak industry,” he says. “There were not a lot of barriers to entry in the early 2000s when I entered the industry. Mortgage brokers were viewed as people who could help you when the banks didn’t approve you.”

Butler was also keenly aware that every-thing was about to change. He believed it was only a matter of time before the mortgage sector would see increased consumer use of the internet, and with it, an inevitable technological upswing in the mortgage space. 

He also predicted that investor interest in real estate would form a big part of the mortgage picture, a segment he was deter-mined to draw from.

“I recognized early on that there would be a new consumer who was a real estate investor who wanted to accumulate real estate and build a portfolio to allow them to retire simply on real estate,” Butler explains.

Real estate as an investment

Tapping into the investment market has been Butler’s key to success, enabling him to position himself and his brokerage at the top.

“I could now pivot my efforts and my business towards real estate investors, and I did this by working with investment clubs across the country, and I also teach investors how to invest in properties,” he says.

Whether working with clients who are just dipping their toes into the property investment pool or investors looking to add to their already substantial real estate portfolios, Butler has more than earned the title of CMP’s leading broker in its Top 75 Brokers 2021 list.

Gearing BM Select’s business model to target each client’s borrowing objectives comprehensively, while supporting the application process with a hand-picked team of mortgage experts, Butler has been able to offer a specialized service. 

He starts with the firm belief that a winning mortgage formula means building a strong team around a few top mortgage agents. 

“We’re looking at roughly $621 million in volume done by just two agents. We don’t hire a lot of agents; instead, we view the agent as just part of the [mortgage] trans-action,” Butler says.

“There should also be an applications department, an underwriting department, a fulfillment department, as well as a compliance and HR department. We took the process and divided it up into six different segments and have our people focus on being a specialist on their part of the transaction.”

Industry recognition

This unique business approach has been recognized throughout the Canadian mort-gage space, resulting in multiple awards for Butler, which demonstrate the efficacy of his working model.

Chief among Butler’s accomplishments is the impressive feat of being ranked by CMP as the number one broker in Canada by volume for four years running: in 2018, 2019, 2020 and 2021.

When asked for the secret ingredient in his mortgage recipe for success, Butler is quick to offer his wisdom.

“You have to exude confidence and ensure that the client trusts you, so you must do everything you can to make them realize that you’re on their side,” Butler says.

Exemplifying these qualities and more, he divulges a few more of his core ingredients.

“This is a deadline business. You must multitask and understand the significance of these deadlines. There are always going to be financing conditions, closing dates, and you must know how to handle this type of workload,” he says.

Butler has taken on the mortgage game – which is not for the faint of heart – with the intensity needed to thrive. 

“You need to have the willingness to go through the fire,” he says.