Tuesday, April 9, 2013

When you look for a mortgage, shop local...call a Mortgage Broker!



By now you've probably all heard the news story about how RBC is laying off 45 Canadian workers to outsource their jobs to an offshore company, and, what's even harder to stomach, is that they are having their current workers train the individuals who will be taking over their jobs. I applaud these workers for going public on this matter. 

Here's an article on how this latest move by RBC is creating backlash from the public and furthering support for Mortgage Brokers who are local, small business people who make money in our community and then spend money back in our community. Using a Mortgage Broker versus one of the Big 5 Banks to get your mortgage is "shopping" at a local business. According to the 3/50 Project, for every $100 spent in a local business, $68 returns to the community. However, if the same amount is spent at a large corporation, only $43 returns to the community. 

Because you don't actually have to pay your Mortgage Broker to arrange your mortgage you may not see your choice to use the services of a Mortgage Broker as shopping locally. But, it is! We are paid to set up your mortgage, and while the money doesn't come from your pocket (we are paid by the lending institution), your choice to use a Mortgage Broker supports your local community by helping to foster small business. 

I am a small business. I shop in my community and I try to also support locally owned businesses. Do your community a favour, when you look for a mortgage, shop local...call a Mortgage Broker! 

If you're curious how you can further support other small, independent business in Alberta, check the Live Local website! 

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