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Torstar joins rate-site business

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Mortgage Broker News | 07 Aug 2012, 09:00 AM Agree 0
The country’s largest newspaper publisher is taking on RateSupermarket and other online lead generators, launching its own rate comparison site, largely based on broker buy-downs.
  • Rob Campbell | therobcampbell.com | 08 Aug 2012, 10:36 PM Agree 0
    80/20 rule here. 80% of your work will be trying to fund the deal right up until the day of closing as these types of clients will leave you in a heartbeat if a shinier bike rolls by.
    A very slippery slope.
    But if you can make it work for you and sustain a good business from it, than good on you.
  • Ron Butler | 09 Aug 2012, 02:01 AM Agree 0
    There will always be a place for an advice and service driven mortgage broker. That will never change. The question is: what share of the market will the "advisor" mortgage broker have?

    I do not claim to know that answer. I do know that the "commoditizer" mortgage broker train is starting to leave the station. I think it will continue to gain steam and although it is a very tough train to be on; it may be the growth side of our business.

    I know many brokers simply hate this trend with every fibre of their being but look around your house and try to find a Yellow Pages book. Sometimes technology makes the change for you.
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