Episode #88 – Gary Mauris – Aligning Opportunity to Grow Stronger

“Now is not a time for selling, now is a time for servicing. Reach out and build those relationships, purify your database, do something good. When you come out of this thing, if you use your time effectively, you’re going to be much stronger than so many other people. And in some ways, it’s a gift and it’s an opportunity.” – Gary Mauris  


 
  • Show Notes
  • [02:08] Patrick introduces his next guest, Gary Mauris.
  • [03:50] Gary and Patrick get their conversation underway rooted in a new reality.
  • [04:57] Gary shares his motto for life along with what he’s up to these days.
  • [07:04] From the other side of the desk, as the President & CEO of Dominion Lending Centres, Gary gives his perspective of the mortgage and banking industry amid COVID-19.
  • [10:05] In the reality of investigating liquidity and planning in an ever-shifting environment, Gary discusses questions around mortgage deferrals and shoring up finances. We still have to live life but there’s no doubt things have dialed down.
  • [15:43] Thoughts around 6-month deferrals as the effects of COVID potentially ripple into May, June and beyond and the differences of the 2007-08 financial crisis vs. the health crisis we are facing now. Messaging from the Canadian Finance Minister to big banks – do what you have to do to help Canadians.
  • [18:50] Economic fallout is real. Regardless of the viewpoint of what this may or may not be on a global level, real economic crisis is happening. Nobody knows for sure but Gary offers his thoughts on potential recovery and pent up demand after a pandemic.
  • [23:07] Gary talks about interest rates and taxes, where they’ve been and where he sees them going.
  • [27:35] Gary and Patrick look at the reality of commercial space changing as more people find themselves working from home, the rate at which Gary finds banks and the housing industry moving in the face of necessity and the opportunity that exists in this period of downtime.
  • [33:17] Gary shares a personal story which illustrates the power of seizing opportunity during the downtime that the downturn of 2008-2009 provided.
  • [37:15] Patrick takes a moment to commend Gary for the work he has done over the last 14 years while keeping a solid reputation in the industry.
  • [39:12] Gary shares his primary strategy and leadership style which stemmed from his “accidental mentor.” He not only sees this as part of the success Dominion Lending Centres (DLC) has achieved but the #1 reason. Aligning and staying true to his values, Gary walks his talk.
  • [39:34] Paul circles back to CORE and elaborates on the four dimensions within our adversity quotient: Control (what we can & can’t); Ownership (how likely is your step-up factor); Reach (how far do you perceive this will affect everything else) and Endurance (how long do you perceive this to last or endure).
  • [45:32] Older and wiser. Gary’s truth is much the same of those who came before; we learn and grow and become wiser with age and experience. A voracious learner, he believes investment in self development is the most important thing we can do for ourselves to become stronger leaders for ourselves and for those around us.
  • [52:33] In the space of exploring purpose and possibility, Gary talks about his entrepreneurial path and what sparked his work ethic and passion.
  • [59:53] Gary explains his findings after doing a study of their top mortgage brokers, who earn 17 times the amount of the national average, and what he attributes to their success. It is very simple.
  • [62:46] Gary shares another story which brings home the point that how we conduct ourselves around the people we can influence, plays a big part in shaping them and how they’re going to show up in their life. Lead by example.
  • [64:43] Patrick expands Gary’s point to talk about the data and research Nancy Philips of Wela Way, has uncovered particularly during this time of COVID-19 and how she is bringing that to the REIN community to help parents communicate with their kids about money and finances.
  • [68:10] A rare opportunity to stop and recalibrate, Gary offers insight into how we can shore up our financial literacy with a focus on learning, improvement and most importantly forward movement.
  • [72:00] What kind of investment strategies has Gary employed over the years? While wide reaching he sticks close to what he knows.
  • [72:00] Patrick is compelled to interrupt Paul to have him share an outstanding story about his grandmother, her essence and how Paul’s first book finally helped her to understand the way she was.
  • [77:44] Gary provides his perspective and overview of the current Canadian real estate market; rates, residential, commercial and light industrial. Housing in particular? Long term is where it’s at.
  • [80:45] He is a self-admitted work in progress, but Gary shares the habits and routines that he finds effective and beneficial personally and professionally.
  • [84:40] Running into the rapid fire! Gary’s favourite book to gift and book to read; favourite inspirational quote; message at the pearly gates; room-desk-car; favourite swear word; favourite tune; favourite movie.
  • [88:08] Gary’s gratitude.

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