The most unique broker incentive ever?

The most unique broker incentive ever?

The most unique broker incentive ever?

In a unique bid to drum up potential business, a Brampton-based broker took to the street to hand out pamphlets inviting potential clients to attend a 45-minute presentation… and the chance to win the most unorthodox prize.

"It was my own idea; it’s always a question of ‘what’s in it for me?’ when you ask people to come in and this was a good way to get people in the door,” Victor Catalan of Centum Mega Mortgage told MortgageBrokerNews.ca. “I just approached the company and they were willing (to support it).”

Catalan is offering attendees the chance to win a "60-minute full body full-body massage with massage stones courtesy of JMS Wellness Centre" and he sees the initiative as a way to get clients in the door, without having to push for sales. For him, it’s all about building trust and a rapport. If a sale follows, great.

“It’s one of those things that we are always discussing with our principal broker, Joy; we come up with new ideas and we don’t force people to buy anything from us, we just give them information,” Catalan said. “We pride ourselves on creating trust with the broker and with me, as well. They know the person they are talking to, they know the person has their interests in mind; it’s about creating trust in the mortgage broker environment.”

It’s also a good way to inform the public about the brokerage channel, which Catalan believes is sorely underrepresented in the industry.

“We teach them about financial literacy and teach them that mortgage brokers can help with that. It tells them that we’re here to help them. Getting the right mortgage can help with their finances,” he said. “We want to make people more aware of the mortgage industry as a whole. Less than ten per cent of customers are using brokers.”

And at the end of the day, Catalan hopes to entice people to return for subsequent presentations by providing the sort of information the public desires.

“We’re looking to create synergy with other business; real estate agents, enticing people to get to know us,” he told MortgageBrokerNews.ca. “Once they see my first workshop, the next questions I have for them is ‘what works and what do you want to learn next?’”

6 Comments
  • Clinton 2013-11-12 3:50:35 PM
    With all due respect, mickey mouse promotions and tactics such as these only serve to undermine the legitimacy of the industry. Perhaps the general public has reason to group mortgage brokers with the used-car salesmen of the world.
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  • John Van Driel 2013-11-13 6:38:24 AM
    Not a bad idea!! I would change the "prize" to something like $600 worth of legal fees on your next purchase, or $600 worth of tile or carpeting on your next purchase.
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  • Victor 2013-11-13 9:54:13 AM
    Thanks John - good idea as well. Thank you for the feedback.
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