This is an article written by a mortgage broker in Kelowna that I greatly respect and admire! She's one of the keys to my success in this business; I greatly respect her vision for this industry and her unwavering values (and I agree and follow them as well). She tells it like it is around here, even when it isn't popular or part of the status quo!
If you're thinking of purchasing or refinancing a home in BC, call Julia. She'll tell it like it is...
The Top ten things that DON’T make me a 'good' mortgage broker
by J. Krause Mortgage Services on Thursday, 18 August 2011 at 18:45.
As a mortgage broker, it seems like I'm constantly bombarded these days with ‘propaganda’ about the ‘top brokers’ in Canada; the ones who do the most business and make the most money. Quantity has become more important than quality. But silly me, I still believe it’s all about the client, and getting the client the best possible mortgage option for their individual needs. It’s not about me and how much ‘volume’ I do. Because of this, the industry probably wouldn’t consider me a very ‘good’ mortgage broker… so I’ve come up with the top ten things about me that DON’T make me a 'good' mortgage broker:
1) I get to know my clients; I don’t just move ‘em in and move ‘em out. I want to get to know them, and I want them to know me. Time consuming? Yes… but that’s how I roll.
2) I’ve been around a while and I actually know what I’m doing. I learned the business by working as an assistant for a few years before I became a broker. Now I have years of experience. And I also know the rules. If a client wants me to bend or break one of those rules, sorry, but I won’t risk my license and my reputation just to make a few bucks.
3) I’m a big ‘explainer’. I explain EVERYTHING about the mortgage process, but not all at once. One step at a time so the client doesn’t get a case of ‘information overload’. Time consuming? Yes… but that’s how I roll.
4) I’m there for my clients after-the-fact. They can call me with any questions any time, and I will never just say “Call your lender”. I always have time to chat with my clients and help them out with any concerns or questions.
5) I stay up to date on what’s happening with interest rates and the economy so my clients don’t have to. I would never expect them to… that’s my job. And I create my own newsletter four times per year - no corporate-looking junk mail for me. Time consuming? Yes… but that’s how I roll.
6) I’m too honest. If a client is getting into something beyond their means, I tell them so. If they go to another mortgage broker to get it done, so be it. At least I didn’t put them in a risky situation.
7) I don’t mind if my close friends DON’T come to me for a mortgage. I understand that for some people, their financial situation is PRIVATE, and maybe they aren’t comfortable spilling all the details to me (but I still give them tips & advice…)
8) I get excited for my clients when they find a place they want to buy, but then I feel the same disappointment if, for whatever reason, they don’t qualify a mortgage.
9) I’m incapable of pressuring my clients to do something or make a decision. I want my clients to feel comfortable and confident about their decision.
10) I don’t believe in ‘sales tactics’. I give my clients choices; I don’t just give them one option and say ‘take it or leave it’. I explain the differences in each option so they can make an informed choice of their own. Time consuming? Yes… but… well, you know.