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 55 - 63 of 100
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: 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.
The Big Story: Collateral charges
Collateral charges: They're not going away, and brokers will have to adapt, say industry professionals, but are the banks going to make it easier to deal with those onerous mortgages?