Mortgage brokers have just gained a huge advantage with the launch of broker-focused television ads currently airing on Canadian television stations.
“This TV campaign is a sizeable expense from MBAAC but deemed a necessary and worthy investment to promote mortgage brokers in our region. It was made possible by being a member of CMBA through shared resources and vision,” Janet McKeough, president of MBAAC, wrote in an email to MortgageBrokerNews.ca. “These commercials, with regional customization, have aired in B.C., Ontario, and now Atlantic Canada."
One thirty second advertisement currently airing hones in on the value brokers provide mortgage clients. It features a clearly frustrated woman speaking on the phone with her mother about the mortgage application process.
“You know, Mom, I had no idea getting a mortgage would be this complicated. There’s terms, interest rates, penalties; we’re definitely feeling overwhelmed,” the woman says. “But it’s not just about getting the lowest interest rate; it’s about getting the best mortgage for us.”
The ad then features a voiceover of a man extolling the benefits of working with a broker.
“Mortgages can be complicated. A mortgage broker is an expert who can help,” the voice says. “Your best mortgage advice comes from a mortgage broker.”
Calls by players for broker-specific advertisements that draw attention to the value they provide have been increasing. Many have been in response
to the big banks ramping up their own mortgage ads
And the MBAAC and CMBA have clearly taken note.
The advertisement is the latest push in an initiative by CMBA – the industry’s most recently launched association – to have its MB logo recognized across the country.
“Under our umbrella organization, the Canadian Mortgage Brokers Association (CMBA), we have trademarked the MB, which we anticipate will be the universal symbol for mortgage brokers,” McKeough said in a release. “Canadians from coast-to-coast will know to look for the mark of membership when choosing a mortgage advisor.”