A old friend of mine I ran into the other day did not know I was a Calgary Mortgage Broker and he told me how much a nightmare it was negotiating and arguing with the banks to find the lowest rate.
He actually booked appointments with four different banks, and answered the same questions over and over. Just to get the quote on a mortgage rate that even after two weeks of shopping around arguing and negotiating I had access to lower mortgage rates all along. He kicked himself that is for sure after we had our little talk.
He also realized the banks only sold their products. Which means he had a limited selection. I showed him my rate and product sheets that I update daily which I have on all the banks and told him he wasted two of the appointments as the rate and or products were not what he was after. Of course they did tell him differently.
He mentioned that he did not even think about wanting a broker, as he wanted to keep all his business at one place. To which I reminded him that we actually do deal with the bank he wanted to stay at all along.
I then told him that its like going shopping in Vegas in a limo that you are driving yourself. If you don't have a driver, sure you will see the sights, but would not a guided tour from a professional driver with a path to a destination free of traffic jams, all while you have a couple drinks taking in the sights and lights in the back with the moon roof open be a better use of your time?
He did like the metaphor to say the least. He is now one of my super fans!
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