Brokers are uniquely positioned to guide consumers through an overwhelming, volatile market
Digital platforms and other tech innovations have proven to be great boons for the mortgage industry – and it is precisely these expanded communications technologies that brokers could uniquely leverage if they are to make a lasting impact, according to Chris Turcotte of CENTUM.
“Pick up the phone, make meaningful connections,” Turcotte told CMPTV. “Those people need you now more than ever.”
This especially applies in the current environment where consumers might be feeling overwhelmed by all the volatility in the market.
“Forget your e-mail marketing, forget your CRM; the person that calls them and tells them it's going to be okay, and guides them through the storm, is going to have their business for life,” Turcotte said.
“It’s safe to say that brokers and consumers are in unprecedented territory right now – and a message from the bank is the last thing they need.”
Experts at the Canadian Mortgage Summit advised addressing pain points first, getting familiar with technology, and starting with what you love to embrace tech in the mortgage industry.
— Canadian Mortgage Professional Magazine (@CMPmagazine) September 29, 2023
Read more: https://t.co/Sjq9f7YUWk#mortgageindustry #mortgagebroker
“Everyone is scared, [and] there is a lot of uncertainty right now… I’d really, really encourage mortgage brokers to focus on being more human now more than ever,” he said.
This also applies to the business-facing side of the equation – especially when it comes to long-term commitment.
“In the good times, you’re not watching [the costs] come off the top; everything’s fine,” Turcotte said. “But in the hard times, when you need every single dollar in your pocket, I think that’s when people start to notice it.”
“I think those longer commitments and higher costs are a bygone era; now it’s going to go low fixed cost, and you’re going to have to really demonstrate [your] value.”
Watch now: What needs to be top of mind for brokers and agents in the current market?
