Providing Value

Providing Value

It’s not necessarily all about the mortgage, it’s about what the mortgage represents.

It can be buying a first home with family.

Starting a new life in a new place.

It could be about releasing equity to expand one’s business or help a loved one expand their business.

It’s possibly just about consolidating debt to put oneself in a better financial position.

These are just a several examples of the goals people have and how entering into mortgage or refinance agreement can help.

That’s why a mortgage broker’s job is not just to get a loan, but to help customers achieve their goals.


You constantly need to show how you’re adding value at each stage of the process.

It is your job as a mortgage broker to showcase or advocate the attributes associated with the borrowing and repayment capacity of a borrower. 

If somebody wants to buy a home, you review the different options and point that person in a direction that’s going to be in their best interest in order to procure a mortgage.

One of the greatest challenges that confronts mortgage brokers is that the job by nature is much like that of an accountant.

You analyze personal balance sheets, assets, liabilities, and make an evaluation of your customer’s financial position. You then promote those you work with to the lender as being in stable financial position.

When mortgage brokers typically venture into marketing themselves, they are left with marketing a message that can be distilled down to “we offer the greatest rates and the best service.”

Unfortunately, this is what every mortgage broker and loan officer says about themselves.

It’s important to position yourself as someone who is capable of assisting them with their goals.

Trusted Guide

If we look at the customer of a mortgage broker, that person by nature is just looking for some sort of guide to lead them through the maze of complication that is bank products, money, and lending. 

The person who values the use of the mortgage broker just wants to develop trust and confidence that their trusted advisor can lead them through to their desired point.

The customer wants an emotional outcome, but what the mortgage broker will be tempted to prescribe is a logical outcome. 

The first step is in making the move away from selling only best rates, features, and products, and start focusing on benefits. 

Things you can start thinking about are –

What is the value that me as the mortgage broker can deliver to my client?

What is the value that is going to be added to the persons life?

How can I substantiate within a borrowers mind that I can add value to their life through the provision of my service, besides just getting them the best rate?

Understanding the Customer

The customer asks: “How do I know that I’m not going to end up worse off than already am? How do I know that I’m not going to end up in a home line that is more expensive or a higher interest rate than I could have got for myself?

The Mortgage broker needs to understand these unspoken questions and understand how to provide a solution for borrower. 

It’s important to be empathetic and understand what it’s like to be in the shoes of a customer. 

You will have an affinity to your customers as you take the time to understand what it feels like to be them.

Understand the intrepid nature of the person getting ready to make the biggest financial decision of their life. 

The ability to see the world through the eyes of the customer is something that will transfer into trust and confidence for the customer. 

Many in the industry take a teacher-student position in the customer relationship, but this doesn’t bring comfort to the customer. You must be a trusted guide.

Creating Value

Demonstrate to your client how you can get a great deal that banks or other brokers can’t offer.

Lack of communication is a major pain point for borrowers dealing with banks and mortgage brokers alike. In fact, this is the number one complaint in the mortgage industry.

The best brokers keep their clients constantly updated on the progress of their application and explain how they’re addressing any breakdowns in the process.

If the customer calls you for an update, then you haven’t communicated as often as they would like.

After Settlement

This is where a lot of brokers fail but where you can continue to make a strong impact.

Continuing to keep clients informed of changes in the property market and interest rates is important.

Clients want to know that they are still getting a good deal, that their mortgage is still working for them.

Some brokers provide their clients with regular mortgage “health checks” which may involve re-fixing their rate, assessing if their current loan is still suitable, or renegotiating their rate discount.


Producing results requires persistence.

High performance isn’t just all about brute force. A lot of it has to do with being customer-centric.

Being a mortgage broker who is one step ahead when it comes to marketing and technology helps, but what will always be most important is being a master in understanding the customer experience.

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