How Mortgage Brokers Add Value for Customers

Free advice and best possible mortgage rates — what’s not to like about using mortgage brokers in Canada? 

Mortgage brokers indisputably add value for new and returning customers.

Here’s how to build a loyal mortgage customer for life.

Quick Read

What makes a successful mortgage broker?

How do you gain a client’s loyalty as a mortgage broker?

How do real estate agents add value?

How do I promote myself as a mortgage broker?

3 ways customers can help

A family who uses a mortgage broker in Canada

What a Mortgage Broker Does Differently

Think about it: what is the goal of a mortgage broker? You’d be in good company if you said::

  1. Gaining trust.
  2. Making lender connections.
  3. Giving expert, impartial advice.
  4. Making a profit.

After all, what is the purpose of mortgage brokers but finding loyal, hopefully return customers the best rates and terms from reliable mortgage lenders. Your business reputation is on the line every time a customer walks through the door. Answer customer questions about private mortgages

Gaining Customers’ Loyalty 

How do you turn customers into loyal customers?

What do you think is the best way to gain loyal customers? Not surprisingly, an interpersonal fit matters and so does being trustworthy. Customers weighing the pros vs cons of mortgage brokers over lenders prefer — 

  • a friendly, personal relationship
  • a space to share financial information in confidence
  • a clear understanding of their mortgage broker’s services and commissions 
  • and options that fit their needs, whether it’s the lowest rates or penalty-free extra payments.

Being organized, on time, a good listener, and resolving conflicts well matter to loyal customers. Realistically, you can’t understand customers’ priorities and lifestyle unless you invest time in talking to them, managing expectations, and hearing their frustrations. 

Successful mortgage brokers offer all that, plus potential volume discounts and lender promotions. Why portable mortgages can be advantageous

House with very big interest that why mortgage brokers are helpful

How Realtor Networks Can Add Value 

Realtor referrals build loyal customer business. Keep that electronic contact list up to date and stay on top of changes to:

  • mortgage stress tests
  • real estate regulations like the foreign buyer ban
  • housing supply issues that affect your customers
  • home buying incentives like the First-Time Home Buyers Program
  • new technologies like AI that affect your business
  • and licensing requirements for brokers.

Realtors’ reputation rests on making credible referrals to informed mortgage brokers who have the technology they need to respond quickly in evolving markets.

Promoting Yourself for Mortgage Brokers  

So how can mortgage brokers add value to their customers’ home buying adventure?

  1. By entering spaces, like private mortgages or alternative lenders, other mortgage brokers may not occupy.
  2. Communicating with customers. Industry leaders suggest signing a mortgage reasoning letter with customers that verifies your advice and a customer’s choices.
  3. Know lenders, products, and clients well.
  4. Have exit strategies for customers you refer to private or alternative lenders. Let customers know how to replace short-term mortgages with other financing options.

Point your customers to this link if they have a complaint you can’t resolve

3 Ways Clients Can Help Mortgage Brokers

Next time you talk to a new customer, let them know they can help you by:

  • Bringing government-issued photo ID. 
  • Using online mortgage calculators to check income and down payment limits.
  • Recording monthly payments and outstanding debts to calculate mortgage affordability.

Why You Need a Real Estate Lawyer

Complete real estate transactions or mortgage refinances on time and on budget. Axess Law professional real estate lawyers close the deal. What a real estate lawyer does in a mortgage transaction. 

Our real estate lawyers review the agreement of purchase and sale (APS) for essential clauses that protect homebuyers’ financial interests. We explain terms and conditions your customers may not understand. If offers to purchase or mortgage documents seem too good to be true, an Axess Law real estate attorney alerts them.

Hit a roadblock in mortgage negotiations? Axess Law real estate lawyers negotiate with the seller’s lawyer to amend the APS. We review the consequences of backing out of an agreement of purchase and sale or liaise with lenders on temporary bridge financing. Questions to ask real estate lawyers

When the mortgage is ready to go, an Axess Law real estate lawyer searches title to property to ensure a homebuyer is the new legal title holder. Ask us about adding a spouse to title. Arranging the property title transfer (Ontario). How title insurance protects you

Affordable Real Estate Lawyers, Anywhere You Are 

Access lawyers for less in the Greater Toronto Area, Ottawa, or anywhere in Ontario when you buy, sell, or transfer property. Axess Law’s flat fee real estate lawyers are affordable, and our rates are all inclusive (excluding taxes, disbursements, and third-party charges). Axess Law offers only the legal services customers absolutely need. Our final invoice includes no surprises  or hidden charges. Their itemized statement of adjustments is explained when we deliver it, and we answer any questions customers have about it. 

Hire a real estate lawyer near me. 

Virtual Legal Assistance 7 Days a Week

Why leave home when your customers can video conference with an Axess Law virtual real estate lawyer 7 days a week? Connect from anywhere using a home computer, laptop, tablet, smartphone, or any compatible mobile device. An Axess Law real estate lawyer can witness  signatures and email a final copy of all the legal records.

When to use a virtual real estate lawyer. 

Book Legal Appointments Quickly

Call toll free to 1-877-402-4207 or in Toronto, use our 647-479-0118  lawyer line to make legal appointments any day of the week. Stretched for time? Try our easy web booking form. It takes only minutes to complete. We have convenient day or evening appointments. Connect online or meet with a lawyer at any of our conveniently located Ottawa or Greater Toronto Area law offices

Axess Law has onsite parking and easy transit access.

Click here to learn more about Axess Law’s real estate law services.