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Bringing client communication in focus

It's not an option, rather a necessity. Still, many brokers haven't yet developed an effective strategy for communicating with clients, says marketing coach and broker Claire Drage, set to speak at the Mortgage Summit, May 9 - 10. For more info, log onto www.themortgagesummit.com

Video transcript below:

 
Reporter:  Claire Drage, CEO and Founder of The Lion’s Share Group and Speaker at this year’s Mortgage Summit has had years of experience in the field as both an Agent and a Lender.  This week she shares her insight into developing an effective communication strategy that ensures brokers can rise to the top and the challenge of winning new referrals.
 
Claire Drage, CEO, The Lion’s Share Group
How can mortgage brokers improve their communication strategy?
 
Claire Drage:  Mortgage brokers can increase their communication strategy by least having a strategy and a plan.  We all know how important it is to communicate with our clients, not only pre-closing but post closing as well.  BUT WE ACTUALLY HAVE TO DO IT.  
 
We know it’s important to send variable rate updates 8 times a year, do an annual mortgage check up, pick up the phone and actually call your client but not just have the strategy, actually do it.  Have it in your calendar, have it as a task, as an activity, because it doesn’t matter how many times we are told what we need to do, if we don’t do it, you won’t get the referrals from your existing clients and they won’t remember you exist.
 
What can we expect from  your session at The Mortgage Summit?
Claire Drage:  What brokers can expect from our session at The Mortgage Summit is how to build a very strong relationship with your clients.  It’s about building layers of communication, adding value and relationship.  So that is a very thick relationship you have and loyalties grow.  It stops an existing financial institution or a new one eroding into your relationship, these layers create loyalty between you and your client to enlist referrals and repeat business.
 
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    If they say there’s a Tim Horton’s on every street corner in Canada, in Vancouver you’re likely to find a mortgage broker right next door. Throw in the highest housing prices in the country, banks that are fighting tooth and nail on interest rates and falling originations and you have a recipe for disaster. Or do you? On today’s Big Story we spoke to Vancouver brokers Peter Kinch of Dominion Lending Centres-The Peter Kinch Mortgage Team and Trish Pigott of VERICO Primex Mortgages as well as Equity Trust Financial CEO Nick Kyprianou. Kinch feels it’s imperative that brokers resist the temptation to take the banks head-on, while Kyprianou says there has been too much fixation on the market’s high-end prices. Pigott, for one, thinks those brokers who offer value over rate will succeed in the face of increasing competition from the banks. Find out on today’s The Big Story, on MortgageBrokerNews.ca TV, your home for industry news, opinion and analysis.