Relationships have always been important in the brokering business, but perhaps never more so, than now, with the advent of social media and competition with the banks, says one broker.
“With social media and word of mouth, it’s all about relationships now,” says Michael Mullis, President of "Mortgage Teacher", affiliated with RMAI, who will be appearing at The Mortgage Summit in Toronto, May 31-June 1.
“Consumers don’t trust big corporate branding anymore, so they go to a big bank not because they trust them, but because they have a relationship with the bank. I feel the broker industry can open up and develop stronger relationships than what banks and branches can.”
Events like The Mortgage Summit offer brokers the opportunity to learn how to better connect with consumers and offer other benefits as well, says Mullis, who is encouraging all of his staff to attend.
“As advisers, we need to keep ourselves up to date, especially since as brokers we are more independent, so it’s events like this where we’re able to network with other professionals. That’s where the most value is,” he says.
“The speakers are important, but so too is getting to talk to others afterwards and hear different opinions on what was said and that can be an even bigger value for brokers.”
The advent of social media and its use by brokers also creates another benefit of attending conferences, says Mullis. “It’s an opportunity for brokers who utilize social media to put a face to a name of someone they ‘socialize’ with.”
Click here for more information and to register for the Mortgage Summit.