Newsletter December 2017

• December 15, 2017

Welcome to the Guardian Financing December 2017 monthly newsletter. This month’s issue is about how mortgage brokers can prepare their clients for 2018.

Preparing Your Clients for 2018

As the curtains to 2017 draw to a close, it is time for every mortgage broker to take into account how the year was – the wins, losses and missed opportunities. Being that clients form the backbone of every business, it is an opportune time for every broker to take a deeper look into their portfolios, review their relationships, and to get ready for business in 2018.

It goes without saying that the primary reason for being in the business as a broker, is to make money, but the money will only come when you have clients, and you are in a position to provide them with quality services. So how does a mortgage broker prepare their clients for 2018?

Understand their needs, and propose viable solutions

There are a number of ways mortgage brokers can use to have their clients ready for 2018. The main objective is to understand their needs, and to come up with viable solutions that will address those needs in the most professional and convenient manner.

This calls for a thorough understanding of each individual client by the broker, so that they can assemble precise information about the specific pain points being experienced by their clients. For instance, a typical mortgage client may be bothered by problems such as:

• Getting approved for mortgages
• Finding the right properties to buy/sell
• Determining the right auxiliary services such as inspection, repairs and maintenance, etc.
• Low credit scores
• Getting second mortgages
• Raising the required minimum deposit

As a broker concerned with the success of their clients, it is vital to treat each client individually, and to help them get solutions to whatever problems they may be having. If they realize that you have a genuine concern to help them, they will be more than willing to work with you as their broker, making it possible for you to close more deals, and grow your portfolio in 2018.

Inform them about the new mortgage rules and how they will be affected by them

A lot of changes have been done to the mortgage rules and regulations in Canada. The changes have varying impacts on various players in the industry. As a professional in the industry, you probably have a good understanding of them, but the same may not be the case for your clients.

They may already know that such rules and regulations exist, but they may not have the specifics, and what impact regulations have on them, as clients.

In order to prepare them for 2018, it would great to inform each of them about the new rules, and how their current mortgage status will be impacted. In doing so, you will not just be informing them, but you will also be helping them align or realign their mortgage plans for next year, to enable them to find the most appropriate solution for their mortgage needs.

Advice on credit scores and home buying in 2018

Most people make major resolutions at the beginning of every New Year, and your clients are no exception. Most of them will be making decisions to close their purchases or sales of new homes, and now would be a good time to educate them further, regarding what they need to know about credit scores, and buying a home, and any other bit of information they need to make 2018 successful.

This can be done easily by sending them a newsletter to address this topic, so that they have a good idea of what to expect when they will finally make the decision to buy a home in 2018. It may be easy to assume they know all this, but that may not be the case, and your professional advice on this subject matter may be of great help to them.

Appreciate them for 2017

Finally, you have to thank all your clients for working with you in 2017. This shows appreciation, which signifies that you indeed, valued serving them, thus making them feel special and important. Wish them happy holidays, and inform them that you are looking forward to serving them better in 2018. Such a little, and often ignored gesture, will ensure that you stay top-of-mind, and retain a good number of your clients in 2018, especially for renewals, and this is what you need to keep your business moving forward.

Guardian Financing is a direct mortgage private mortgage lender. We serve the greater Montreal area, providing short term residential mortgage loans, typically ranging from $50,000 to $750,000. Contact us today to discuss your file at 514-700-3121 or by email at [email protected].