Monday, November 3, 2008

Rate Your Mortgage Broker consumer survey


[Source - Canadian Mortgage Professional - October 2008]

In the first annual Canadian Real Estate magazine (CRE) Rate Your Mortgage Broker consumer survey, an astounding 94% of respondents said they'd use a mortgage broker again. Cindy Freiman talks to consumers to unveil the ins and outs of their recent mortgage experiences.

What brokers did well
Of the consumers polled, 38% revealed that they were happy with the overall experience offered by their broker and could not come up with suggestions on how to improve the relationship moving forward.

When it came to product knowledge, an astonishing 90% of consumers said they strongly agreed or agreed that their broker had a strong grasp on the available products to meet their clients' needs.

Brokers also received a favourable grade on product choice, with 73% of respondents saying the broker offered a wide variety of mortgage products from which to choose.

Where specific needs were concerned, 84% of participants felt their broker quickly understood their particular needs.

When asked the ever-popular rate-driven question of whether the broker found them a better-than-expected deal on a mortgage (regardless of whether they took the brokers up on these mortgages), 70% of consumers said they strongly agreed or agreed.

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