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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.
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?
The Big Story: Who's to blame for buydowns
Buydowns are sending the wrong message to lenders, say some brokers, but are the banks to blame or the mortgage professionals.
The Big Story: What brokers are doing about commission cuts
First National then Scotia. Mortgage brokers are worried other lenders will introduce commission cuts on five-year deals. But as Jemima Codrington reports, they're not prepared to lie down and take it.
The Big Story: Why you need to get before the media?
It's not about being a media whore, but helping shape the message for consumers, says a leading broker advocating more mortgage professionals get before a hungry business media.
Why lenders are changing the rules
Verico's Colin Dreyer is offering his own analysis on why the lending landscape for brokers is changing and what if anything mortgage professionals have to worry about.
The Big Story: Doable diversification
Diversification may be on the lips of every broker in Canada, but actually accomplishing it takes more than talk, reports Jemima Codrington. It takes action.
The Big Story: Pushing past preapprovals
Brokers are sitting on a mountain of preapprovals, but is there is a way to push past them and get clients off the fence? Jemima Codrington reports.
The Big Story: Association overhaul
More and more brokers are asking what their associations are doing to earn their dues. The answer, reports Jemima Codrington, depends on whom you ask.
The Big Story: The art of cross-selling
More and more brokers are looking to cross-selling to even out the income bumps in the road, but there are key considerations, reports Jemima Codrington.