Top 10 List Of Findings For Clients Seeking A Mortgage

It was David Letterman who made a top 10 list a staple for his nightly show. At Robert Floris’ Mortgage Architects office, we decided to have our own. In fairness, the list was provided by CMHC but maybe it is better this way because the survey of people seeking a mortgage was important.

Here Are The Top 10 Results:

1. 86% of clients seeking a mortgage arranged their mortgage transaction with a broker to get best rates or deal.
2. 36% of consumers contacted at least two mortgage brokers when seeking a mortgage.
3. 24% of clients seeking a mortgage used the broker’s website to learn more about the mortgage process or gather more loan information.
4. I found this interesting for the future of the broker business: 65% of broker clients used social media versus 19% of lender clients.
5. 41% of broker consumers had stress or uncertainty regarding buying a home and what was involved.
6. Here is another statistic we can learn to help potential clients: 45% of clients would have liked to get more information and advice regarding rates and fees.
7. This was sad to us in our office: only 31% of broker clients indicated the broker did not share or discuss the home buying expenses.
8. 60% of clients seeking a mortgage said they would use their broker again.
9. Among mortgage seekers who used a mortgage broker, 34% were referred by an agent.
10. 53% of Broker clients received no post transaction follow up.

The last point must be improved in our industry!!!

Robert Floris is a Mortgage Broker. His office is located at 651 Fennell Avenue East in Hamilton, Ontario. If you would like to speak with Robert, he can be reached at 905-574-9200 #215. Alternatively, you can contact Robert here.

If you would like to apply for a mortgage online, please follow this link.

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