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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: Who owns the 'Broker' name?
Misappropriation of 'broker' by road reps is raising industry ire and concerns that mortgage specialists are capitalizing on broker reputations.
The Big Story: FirstLine who?
Brokers are still lamenting the loss of industry innovator FirstLine, but the race is increasingly on strengthen connections to other lending partners, say brokers in this episode of the Big Story
Audio file: Gary Mauris on associations
Audio file: Brokers continue to debate the role of industry associations, but Gary Mauris at Dominion Lending Centres is now weighing in for a feature in the September issue of CMP.
The Big Story: Time to reduce wait times
Reducing turnaround times for applications should be priority No. 1, say some brokers, appealing to monolines as competition moves beyond rate.
The Big Story: Protecting clients from themselves
The new mortgage rules have clients juggling their monthly debt payments to qualify, but there's real danger in getting too creative, say brokers.
The Big Story: Bigger lenders for broker channel
Proposed federal legislation would hand brokers new national lending partners, keener to use them for expansion into virgin territory.
The Big Story: New mortgage rules, new opportunities
Those new, tighter mortgage rules have a number of downsides for brokers, but are there any potential positives? Yes, they do, according to some seasoned players.
Brokers to Lenders: Listen
Brokers are relying on CMP's Brokers on Lenders survey as a primary platform to share their concerns and their compliments.
The Big Story: Upping your entrepreneurship
Entrepreneurship for brokers: Brokers are schooled the ins and outs of putting together an application, but buildiing a business that separates them from the competition is often a self-taught lesson. Here's what they need to know.