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Kim Luxton: Planning for the future
With slowing business, now is a great opportunity for brokers to focus on the bigger picture, says Kim Luxton, Director, Broker Sales for ING Direct. She says it's time for brokers to focus on client needs, not just today, but for the future and to help them achieve their long-term financial goals, which could result in better residuals and more referrals for the broker.
Video transcript below:
Now is the time for brokers to focus on the bigger picture
Kim Luxton, Director, Broker Sales, ING Direct
Kim Luxton: I think there’s great opportunity in this market nowadays for brokers to focus on the larger picture. There is no doubt in the last number of years, the mortgage industry has been so busy and brokers have been overwhelmed with deals which is a good problem to have. Not so much the case these days, business has slowed down a little bit, however there’s still lots of great volume out there. I think it, this particular market gives brokers time now to focus on the larger picture and to focus on the clients’ needs not just for today, but to delve into what their future goals are, so that the broker can then align themselves with that particular client and position themselves as someone who is going to work with that client to help them achieve their financial goals over the longer term. In focusing on this type of a follow up with their clients and getting more engaged in where their clients overall financial goals are, this will in turn result in residual business, better referrals and a longer term client that is extremely happy with the services that have been provided from that broker.
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 Claire Drage, a speaker for the upcoming Mortgage Summit.
The Big Story: Lead generation tuneup
All brokers make a claim to have the best lead-generation strategy going, but many could use a spring tuneup, according to experts Claire Drage of The Lion's Share Group and Calum Ross of Calum Ross Mortgage.
Calum Ross takes on rate sites
There's nothing inherently wrong with rate sites, says top-performer Calum Ross, but they may obscure the other, arguably better ways a professional brokers can save clients money.
The Big Story: Bracing for another battle of the mortgage rules
Brokers continue to grapple with those new tighter mortgage rules and lending guidelines, but can they expect any more for 2013? Jemima Codrington reports, and answers that question.
The Big Story: The future of condo originations
The Bank of Canada is sounding the same concerns as the federal government about the future of the condo market for buyers but also brokers.
The Big Story: Broker defections
Brokers and, indeed, brokerages are increasingly on the move from one network to another. But marketing and not rate may be the strongest pull factor. Find out why.
The Big Story: Broker welcomes O'Leary
Brokers have registered a number of concerns about Kevin O`Leary`s business model. Still, some think he may help brokers, reports Jemima Codrington, from Toronto.
The Big Story: Brokers endorse Emili
Brokers say consumers and lenders benefit from Emili despite criticisms that CMHC`s automated system routinely overvalues properties.
The Big Story: Brokers offering unsecured credit
Brokers may have qualms about unsecured credit and the banks that provide it, but how do they feel about offering those credit cards themselves?