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Mortgage Broker News | 06 May 2013, 12:00 AM Agree 0
One broker remembers the expensive lesson learned by brokers a few years ago in opening storefront locations in high traffic retail centres, and sees the BMO micro-branch model succeeding if costs can be controlled.
  • Charlie | 09 May 2013, 08:09 AM Agree 0
    After 17 years functioning as an in-house Mortgage Broker for a local Real Estate firm in 3 distinct locations (we still maintain 2 other in-house locations) we recently moved to a store front operation on one of the busiest streets in our city. Granted it is not the retail center model, but we can clearly state it was something we wished we had done much sooner. I agree with Ron the condo style retail space would appear to be ideal, our store front exposure has added value, with unlimited exposure, walk in clients, and visible credibility. We are always recognised. The key ultimately is your bottom line return and controlling your costs. We opted to buy not lease, and eliminated countless line items charges that came with being an in-house broker. Control your own destiny.
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