Broker news TV
Broker news TV brings you closer to the industry's most
influential leaders and thinkers. Click on the videos below to watch the interviews:
Showing 28 - 36 of 87
The Big Story: Getting a bear hug on clients
Building client loyality is increasingly difficult in today's hyper-competitive and shrinking market. But some retention efforts are working better than others.
Video transcript below:
Reporter: There is no such thing as client loyalty or is there? The bank’s claws are out and so are your competitors, so how can you keep your clients to the end line?
How can brokers keep their clients from the jaws of the big banks, specially at the last hurdle when all the hard work is done? Is hard work and trust enough?
Calum Ross, Calum Ross Mortgage
Calum Ross: You know I think that one of the things that people are always trying to figure out is to identify those clients that are just trying to use us to get a competitive price versus those people who are truly bought into the value that a mortgage broker or a mortgage professional brings to the table. You know I can tell you at this point of my career, I haven’t quite figured it out. You know, my sense is that most people are fundamentally good people, they are not the type of people who are going to waste your time and quite frankly we do a good job in collecting all the paperwork in advance and bring a compelling value proposition, where we truly try to integrate the person’s mortgage and the short and long term financial goals. I can assure you that very few clients are going to leave you towards the end, because they will appreciate the value of what you bring to the table.
Sean Smith, Mortgage Agent, Dominion Lending
Sean Smith: Yeah, one of the ways that you can eliminate a client leaving you mid-process or towards the end to go back to the bank because they offer a better rate is to build strong sales process. You want to take your client through different phases of the application process and build trust each time you do that and each time you build trust you want to pull that conversation away from rate, focus more on their financial needs and goals. Once you have focused on their financial needs and goals, then you match those needs, you have gone far beyond what the bank has done, because the bank has just aggressively thrown them the best rate, pushed them in a 5 year flexi [mortgage points].
The Big Story: Lenders and grow-ops
Brokers are generally supportive of registering former grow-op properties, but will monolines and banks ever lend on those rehabilitated homes?
The Big Story: The Mortgage Summit 2013
Here's the highlights of the 2nd-annual Mortgage Summit, powered by CMP and bringing together more than 500 industry players for two days of professional development and networking.
The Big Story: The CMAs take the stage
Toronto was host to the 7th annual CMAs, theatre-styled gala honouring 21 industry players from brokers to underwriters. Take in the sights and sounds of this extravaganza.
The Big Story: Fighting doom and gloom
The real estate forecasts of some big players have receive even bigger media attention. That's bad news for brokers sitting on preapprovals. But there is a way to encourage ready buyers into the market.
The Big Story: Rate Madness
When one of the Big Five announced it would match any rate a competitor offered, brokers sat up and took notice, and then they got busy...
How to be a disruptive force
Industry trainer and broker Greg Williamson (Mortgage Professionals Academy) wants brokers to be a distruptive force for change, turning the tables on the banks and the rate wars.
He`ll lay out his strategy at the upcoming Mortgage Summit (May 9 - 10) in Toronto during a luncheon workshop open to all registered attendees.
For more information on the workshop, visit www.themortgagesummit.com/workshop.
Mapping out your marketing plan
Mortgage professional Michael Mullis -- the Mortgage Teacher -- is helping brokers master the art of multimedia marketing, with a session at the upcoming Mortgage Summit revealing all the tricks of that increasingly important trade.
Benefit from BMO's 2.99
Brokers weren't impressed by BMO's 2.99 per cent on its 5-year no-friller, says Centum's Paul Therien, but the offer has highlighted the need to provide clients both rate and expertise.
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.