Buying a house doesn’t have to be stressful

Buying a house should be an exciting time but it can get pretty stressful, not only for first time home buyers, but for move-up buyers as well.

The number one worry is finding problems after moving in. The next worry is that prices will drop and the house won’t be worth the original purchase price.

You can reduce some of that stress and worry by putting together a team of experts who will guide you through the entire process. 

It starts with a mortgage professional who will take a look at your finances, including your credit score, to qualify you for a mortgage. A lot of information about you and your credit management abilities come up during this process. For example, derogatory items may be on your report, but that doesn’t necessarily deny your ability to qualify for a mortgage. Everyone’s situation is different and a mortgage agent is familiar with most situations, and can offer options.

Once you know the amount of house you qualify for, you can confidently work with a Realtor to find the right home for you. On average, home buyers spend five months house-hunting and visit 10 locations before deciding to buy. It’s certainly a good idea to take your time to make sure to get the house that’s right for you. 

Interestingly, a 2013 BMO Psychology of House Hunting report found that 33% of home buyers felt rushed into making a purchase – that increased to 39% for first timers. Sixty-eight per cent were prepared to settle for a home that was less than perfect. Four-fifths of prospective buyers said they know a home is right for them as soon as they step inside. So, you may not be alone.

Once you’ve put together the Offer to Purchase with a Realtor, working with a trusted lawyer is the best way to make sure there are no surprises at closing. The bottom line is to take your time, work with professionals and do some research. 

Here are the suggested steps to make sure you get on the right track and into your new home:

• Determine the location and the type of home to suit your  needs. Most people will have an idea of where they want to purchase their new home based largely on familiarity and convenience. For example, living close to work or schools might be a priority, or selecting a certain area of town with parks and amenities, and/or walkability scores. This is also a good time to think about how much you want to spend and what you can afford.
•  Get your finances in order. During the pre-approval process is a good time to make sure you have the finances to cover your down payment and disbursements on your anticipated purchase.
•  Start your home search. How you find the perfect property is entirely up to you. Many home buyers enlist the services of a Realtor. It’s important to only look at homes within your budget.
• Hire professional services. You will need a lawyer to complete a real estate transaction. A real estate lawyer ensures your paperwork is correct and that the transaction is complete. They will review the contract and mortgage documents, conduct a title search, purchase title insurance on your behalf, register the property in your name, get signatures, prepare a Statement of Adjustments that shows the amount you will pay in closing costs, and collect and disburse fees.
•  Hire a  home inspector. Home inspections have become part of the homebuying process for both new home purchases or resales. It might seem like a waste of money to pay for a home inspection for a newly-constructed home, but you might consider getting an inspection a few months before the expiration of the New Home Warranty.  Better safe than sorry.
• Insurance Agent. Lenders also require you to have fire insurance so an insurance agent will help you find the best coverage and the best price.
• Make an offer. This is done by presenting the seller with an Offer to Purchase. Sellers have the right to accept, reject or put in a counter offer. Remember to include all necessary details in your purchase offer. The deposit will be paid, in trust, to the Realtor.

If you’re planning on purchasing a first home or a new home, then get started with a mortgage professional.

Home Ownership, yes!

OOPS, what happened? I moved in and I didn’t consider all that needed to get done.

Most homeowners admit to making at least one mistake when they purchased their home, according to a homeownership poll conducted by RBC a few years ago. 

While owning a home is a dream come true for many, it can also be stressful if you find you’ve made an error. 



Below are the top three mistakes the poll found, along with a few more you might want to think about before taking the leap.

1.  Property needed work – a lot of it. Even with a home inspection, new homebuyers may get into a home and find it’s become a money pit. Don’t rush in, sit down and plan.
2. Not having a bigger down payment. Once in a house, many homeowners are overwhelmed with the costs. Once again, don’t rush in, sit down and plan.
3. No Home Inspection. If you skip this step you might find the cost of repairs needed may be astronomical, especially if you purchase an older home. An inspector will look at the overall foundation and structural features of the house, the plumbing system, will look for the presence of mould or pest infestations, check the heating and air conditioning, as well as the electrical system.
4. Not budgeting for the increased costs. When considering the extra costs, remember there are mortgage payments, property taxes, and usually higher utility bills. On top of that you’ll may want to redecorate, perhaps buy new furniture and/or appliances. There may be some landscaping work to be done and you may want to renovate. 
5. Not knowing the closing costs. Closing day is coming and you get the call from the lawyer to come in and sign the papers and, bring a certified cheque or bank draft for X amount of dollars. WHAT? Yes, fees and disbursements. There’s the land transfer fee, the title fee, the lawyer’s fee, etc. Don’t get caught short.
6. Forgetting about future needs. If you’re planning on having kids, you may want to consider the type and size of home you’re purchasing. 
7. Not getting a pre-approved for a mortgage. You won’t know what price range you can afford and what a lender will give you without a pre-approval. It’s easy; it’s free and absolutely necessary. If something turns up that may prevent you from purchasing, a mortgage professional can offer you solutions. 
8. Falling in love with a house. Fall in love with each other but not with a house because you may not listen to some good advice. You will ignore the obvious cracks in the foundation because it has 18ft. ceilings and has that great stone fireplace you’ve always wanted. Beware of buyer’s remorse.
9. Not checking market value of neighbourhood. This can cause some purchasers to pay too much; especially a home that has been upgraded to the max in an area that won’t keep its value – unless you plan to live there the rest of your life.
10. Focusing too much on interest rates. Don’t rush in to a market because the rates are low. And don’t focus on getting the lowest rate. Focus on the mortgage loan that works best for you and your financial situation. 

Having said all that, the most recent RBC poll (April 2019) found that Canadians are confident and know what they want.

• Eight-in-10 Canadians say a home or condominium purchase is still a good investment
• Canadians feel it makes more sense to buy than rent 
• Canadians are well positioned to weather a potential downturn in housing prices or an increase in interest rates 
• Affordability and being in a safe neighbourhood top the list of what Canadians must have, while buying in ‘the right‘ neighbourhood is less of a concern 
• Canadians are most willing to sacrifice the conveniences of being close to a major highway (16%), dining and entertainment (13%), good schools (11%) and public transit (10%).

So, bottom line is: Don’t rush in, sit down and plan. A mortgage professional can help you get that home by walking you through every step of the home buying process, with fewer mistakes, and fewer regrets.

TMG’s Co-founder Wins Lifetime Achievement Award

In July, 1990 Debbie Thomas and her husband/ business partner Grant opened TMG. In the ensuing 28 years, TMG has grown its presence in the marketplace from four brokers in a small office, to more than 800 mortgage professionals across the country.

Debbie has been the Broker of Record in British Columbia since 1993.

In addition to company awards, Debbie has won the Partner’s in Excellence Award -- CAAMP and Pioneer Award for Lifetime Achievement – MBABC.

As the only female to head up a successful national brokerage, Debbie credits her skills as an educator that has contributed to her influence. She has been the "Mortgage Expert" on Global BC TV for many years and worked hard to get the industry message out to consumers that “Your best mortgage is through a Broker”.

Not only is Debbie committed to the success of TMG, she has shown passion and dedication for the success of others and the industry at large. As part of a very influential Western core group of broker advocates in the early 1990s, she was instrumental in ensuring that Western brokers were properly recognized. Through her efforts, mortgage lenders such as Scotia Bank and HSBC added the West to their business market.

 It’s not surprising that British Columbia enjoys the highest level of mortgage broker activity in the country with more than 35% of consumers seeking out a mortgage professional.

Within TMG, Debbie is seen as a mentor, an expert and a leader. Within the mortgage industry, she is seen as an entrepreneur, an industry advocate and a pioneer.

On Thursday, May 3, Debbie was recognized for her contribution to the mortgage industry by receiving the Lifetime Achievement Award at the Mortgage Awards of Excellence in Toronto. Here is Debbie, in her own words.

“I was both honoured and humbled to receive the inaugural 'Lifetime Achieve Award' at the Mortgage Awards of Excellence. Thanks to the nominating committee for the privilege of being the very first recipient of this award.  

When I think about Lifetime Achievement I start to look back and reflect on the past, as I imagine all of us do, and I thought about the early days of TMG, and of the mortgage industry, and how I got here.

TMG was founded by myself and my husband Grant back in 1990.  That same year the Berlin Wall came down, the first episode of The Simpsons aired and there was this launch of something called the World Wide Web. So, in retrospect, it was very good year for beginnings.

Back in those days, we had one huge, big-ass Fax machine, and we would line-up to send and receive documents.  It was almost a full-time job just organizing and distributing those documents.  Then in 2000, Expert came along and life got a whole lot easier.

We’ve seen a lot of changes in the industry over the years. We’ve seen lenders come, and we’ve seen lenders go. We’ve seen mortgage rates in the double digits, we’ve seen market “corrections” and we’ve seen very hot markets. And we’re still here. Mortgage brokers remain committed to the consumer and making sure they have a choice when it comes to mortgages.

I’m proud to say that we’ve seen more women enter the industry.   Each day I work with outstanding women in the industry – our brokers – our lender BDMs – our underwriters -- and our support staff. Together we are empowering thousands, breaking down barriers and demonstrating that there are really no gender preferences in our industry. With each passing day there are more, strong female leaders emerging. I am grateful to be a part of that.

I have learned many lessons on this journey.  One particular lesson has sustained us -- I have learned about the importance of partnering with the right people. By surrounding ourselves with people of integrity, with people we can trust, it empowers us to be our best.

 From the outset, Grant and I never wavered from our values and our vision – it still sustains us today.”

What’s really going on in Canada’s housing market?

What are we to make of the mixed messages in the media? Are we in a bubble? Has the bubble burst? Are prices going up? Are prices going down? Are sales down or are sales up? Are new housing starts up or are they down? Is this a good time to buy? Are first time home buyers abandoning the market?

According to the Canadian Real Estate Association’s most recent report national home sales were down slightly from December 2016 to January 2017 by 1.3%. Yet actual activity in January was up 1.9% from the previous year. Newly-listed homes dropped 6.7% but prices were up; however, the average sale price has hardly changed in a year. What are consumers to make of it all?

Then there are the recent changes made in the mortgage industry that many say have further eroded affordability and have made it more difficult for first time home buyers to purchase a home. What is really going on?

Here’s what we do know – all real estate is local. In cross-country interviews, a snapshot emerges that concludes the following:

1. There is a lack of supply in all provinces, which dampens market activity
2. First time home buyers are still in the market but are now looking at lower-priced homes
3. Many homeowners are taking a wait-and-see approach before deciding to list, which is contributing to the lack of supply
4. High-end homes are the slowest to sell
5. Spring is coming

Here’s what a sampling of TMG mortgage brokers say is going on in their provinces.

Katy Mackenzie, Vancouver, BC
Due to the introduction of the B.C. Home Owner Mortgage and Equity Partnership program, condos or strata properties are very attractive to first time homebuyers.  We’re seeing multiple offers still and the re-introduction of Realtors asking buyers for subject-free offers, which is always risky.  Even in cases where we can offer pre-approvals, and many lenders are not issuing those anymore, we all know that anything can change. Many lenders will not look at a deal unless there’s already an existing offer.

Detached homes in the Vancouver area are not moving because it’s become harder to qualify and homes over $1million dollars are not insurable so there are fewer buyers. The luxury home market has also gone quiet because sellers have not brought down their list price.

We’re seeing multiple offers on small sq-ft properties. For example, a 415 sq.ft unit sold for $24,000 over asking price, another went for $31,000 over.

First time home buyers are still there. With the new qualifying rules, those who were on the affordability margin have left the market. Some are discouraged but others are being pro-active and paying down debt. Those still in the market have the down payment but are looking for lower-priced homes.

February has been significantly busier. Home buyers are still active and are still qualifying in the $1 million and below price range.

Layne Walters – Calgary, AB
Contrary to popular opinion, the real estate market here did not correct much – prices have been the same here for 10 years. House values have roughly been the same. Because there are so many ups and downs, supply and demand is always adjusting.  There is a challenge in the high-end market but there is stability here – homes are more affordable now then in the 80s – it’s not any cheaper to rent.

It’s the economy that’s struggling here.  Half of the city works in the oil and gas industry and they have been impacted in the last few years. The other half of the population are still working and doing okay.

What I am finding, however, is more people taking the time to learn about mortgages and their options, getting pre-approved then waiting. There’s not an urgency to buy because they know prices are not going to rise.  The market is moving at a slower pace but it’s steady. People still buy when it makes sense for them.

The recent mortgage changes have had less of an impact. Affordability is not really an issue. Minimum wage has gone up and house prices have remained stable.  It’s a slow, steady market – boring actually, if you compare it to what’ s happening in Toronto and Vancouver. First time home buyers come in and ask what they can afford. We’re not impacted by the new rules as have other markets.

This year has some promise. The oil and gas industry is hiring again so there will likely be a migration shift back to Alberta. The economy is projected to expand. We do have inventory available – it’s going to be a slow, steady kind of year. Sometimes it’s good to be boring.

Amber Rambally, Saskatoon, SK
Market activity is starting to pick up here especially for homes that are priced correctly. New builds are sitting because they have been significantly overpriced, but we’re starting to see prices dropping in those as well. The market is flooded with new condos, but prices of older condo conversions have dropped significantly.

The resale market has stayed even in the last year depending on how much work they need. Houses built in the 80s, early 90s are good quality and are typically on larger lots and have held their value quite well. Bungalows from the 70s were priced high but have now become more affordable.

However, buyers have been hesitant about getting into the market because of the new mortgage rules.  There have been lay-offs due to the slowdown in the oil and gas industry but we’re seeing people going back to work.

Clients are asking more questions and wanting pre-approvals but I don’t see them making that decision to get into the market yet.

What is nice in this market is that first time home buyers don’t have to start in a condo, they can get into some single-detached homes. While the new rules may have impacted affordability, having the down payment has not been a challenge. I’m sure 2017 will be a growth year in the market.

Jeff Sparrow – Winnipeg, MN
The market is hot and has been on an upswing for the last 10 years. There are tons of new home starts and new developments -- we have one development in the south end that’s slated for 30,000 homes. That’s in addition to six other sub-divisions.

There’s also lots of activity in the resale market but due to lack of supply there are multiple bids – it’s the sign of the times.

We have lots of jobs – manufacturing, agriculture, blue-collar, white collar.  If you’re in the construction industry, you’re busy.

Winnipeg’s unemployment rate is low. Manitoba’s growth is slow and steady and very stable. I anticipate that 2017 will be a good year.

The mortgage industry here is competitive, not helped by the fact that we have the largest per capita population of credit unions in the country. We work hard each day for our business in a very active mortgage market, but we’ve been dealing with this for awhile. Our approach to working with clients has not changed – we educate them and we offer them options –something they can’t get from a bank.

We’ve also seen an uptick in first time, quality home buyers. These clients need someone to have an intelligent conversation with them about how the mortgage lending industry works. We usually win the client over.  We’re looking forward to 2017.


Mike Rogozynski – Woodstock, ON
Here’s the new normal -- lack of supply. We have buyers but nothing to buy.  When a desirable home comes on the market, Realtors set a day for offers, resulting in multiple offers.

I know this happens in many markets now but it does inflate the selling price. In these type of situations Realtors want no financing conditions.  This adds an extra challenge for mortgage brokers, so I make sure to have all documents beforehand and I really push the online application process, rather than an in-office meeting, to speed up the process. We haven’t seen skyrocketing prices yet, like in Toronto, but prices are increasing. Houses are also closing faster – 30-45 days in areas.

As for the mortgage rule changes, most people are not aware of them and are confused when told that someone with 20% down gets a higher rate than someone with 5% down. Even after it’s explained to them they can’t see the lender’s side of things. Even Realtors don’t understand it.

First time buyers are still in the market – they get a preferable rate because they usually have only 5% down -- and they tend to be much more educated about the market and mortgages.

Blake Wilson, Halifax, NS
Our market seems to be stable. Clients are looking for house a little earlier this year and Realtors are optimistic. Homes under a half million are doing well; over that, there are fewer buyers. New construction properties are selling well.

Mortgage approvals continue to be a challenge, especially among the self-employed and now first time home buyers, given the recent rule change -- affordability has eroded for them.  For example, I had approved a salaried electrician who had saved the 10% down payment for a Purchase Plus mortgage. With the introduction of the new mortgage qualifying rule, he had to now pay out his student loan to qualify.

I am also seeing a lot of confusion at the banks from customer representatives who don’t understand the rules themselves. Banks seem to declining more deals where we can get them approved because we have many options.  For example, I had one client declined by two banks and I had them approved in 24 hours.

This is a great opportunity for brokers.  I am bullish on 2017.

TMG The Mortgage Group Celebrates 25 years in the Mortgage Industry

It was the year the Edmonton Oilers came back and Mario Lemieux couldn't. The economy turned its worst performance since the Second World War.

It was the time of Brian Mulroney and George Bush (Sr). Caller ID systems were introduced and the Internet revolution began.

It was a time of hot pants, mini-skirts, pre-ripped jeans, grunge art, Ninja turtles, head bands and sneakers. "Die Hard" was a box office hit and TV show "Cheers" won all of the Emmys.

It was the early 90s and TMG The Mortgage Group was formed. From day one, Grant and Debbie Thomas had a goal of operating a strong brokerage, educating the consumer that mortgage brokers were  best suited to help them get the best products, and to not become a big, faceless company. They wanted to create a company with old-fashioned family values, yet remain relevant and strongly competitive.

They have succeeded. On May 28, 2015, TMG celebrated its 25 years in the mortgage industry with a gala event.  After 25 years TMG, a national full service mortgage brokerage has developed an excellent reputation in the industry and is highly-respected among agents, brokers and industry partners, including lenders. TMG is known as a company with integrity.

Early on, it was decided to grow the company organically. Today, TMG has nearly 800 brokers and agents nationwide. The company continues to grow and attracts like-minded, professional individuals by treating them with respect, providing good value, and continually responding to their needs.

“Our core values help promote an open, progressive, entrepreneurial environment. We think in terms of partnerships with our brokers and staff,” said Mark Kerzner, president of TMG.

Through the years of continued and impressive growth, TMG has been able to maintain and even strengthen its corporate family culture.

The company’s contribution has not gone unrecognized in the industry. In 2011, TMG was honoured with the Canadian Mortgage Award’s top award for Network Broker of the Year.

In 2012 the company was named one of the Best Companies to Work for in B.C. TMG was awarded CAAMP’s Partners  in Excellence Award as well as Grant and Debbie receiving MBABC’s Pioneer Award for Lifetime Achievement.

In 2013 the company won Employer of Choice at the Canadian Mortgage Awards and later that year Grant and Debbie were inducted into CAAMP’s Canadian Mortgage Hall of Fame.

In 2014, four TMG brokers were recognized for their contribution to the industry by winning CAAMP Excellence Awards.

However, as wonderful as the accolades are, and as proud as they are of their achievements, Grant, Debbie and Mark are not ones to sit back and rest. There is much more to do. After 25 years, it’s important that TMG  continue to find innovative ways to help its brokers succeed.

The Growth of the Canadian Economy

When Bank of Canada (BoC) Governor Stephen Poloz lowered the prime interest rate to .75% earlier this year in response to what he called the “effects of the oil shock” it came as a surprise to economic pundits and economists alike. Many thought the central bank would hold off on moving the rate until late 2015 or early 2016, with the next adjustment expected to be a hike.

"We have an oil-price shock, which will reduce the income flowing into Canada and lead probably to some increase in unemployment overall," Poloz said.

Until the “oil shock”, Canada seemed to be headed for some post-recession growth. Still, Poloz said he was encouraged by signs of economic life, particularly in Canada's non-energy sector, thanks to a low loonie and strong U.S. growth.

Yet, we still hear about housing bubbles and overvalued real estate. It’s true that house prices in many markets are on the upswing especially in the country’s two hottest markets -- Vancouver and Toronto.

However, the Spring market has turned out to be surprisingly strong and ReMax revised its house price projections upward last week citing high consumer confidence and low inventory. There are even bidding wars in some markets surrounding the “Big Two” – like Hamilton and Barrie in Ontario and in Victoria B.C.  And while in Calgary, the housing slump is evident (oil shock fallout), the Edmonton market is showing resilience.

There was talk that Poloz might lower the prime interest rate again, which did not happen. Poloz said the January interest rate cut was enough to support the nation’s economy as it recovers from the slump in oil prices. Total inflation is at 1%, reflecting the drop in consumer energy prices. Core inflation has remained close to 2%.

So what does that all mean for the Canadian housing market? At this time, little of what has occurred has had an adverse affect on the housing market in most areas of the country. Is there a housing bubble? Well, we have been hearing about a potential housing crash since 2010 – if it was going to happen, it likely would have happened by now.

During these past four years, the government has imposed tighter restrictions to mortgage qualifications and mortgage products, which have altered the lending landscape, and which appear to have prevented a housing collapse. As always, there will be doomsayers.

A better thought is to look at all the positives in the economy starting with the latest Bloomberg Nanos Canadian Confidence Index. According to the results of its recent telephone poll, Canadians are optimistic about real estate, with consumer confidence the highest it’s been in three months. Homeowners are more confident than renters.

When we review the recent federal budget, there are more positive signs for housing and the economy. For one, it was a balanced budget and the government is projecting a surplus of $1.4 billion dollars. Seniors get a new tax credit for home improvements to improve accessibility. Small business gets a tax rate drop to 9% from 11% over the next four years. Manufacturers get a tax break. And the budget held off on any new measures to cool housing.

“There has been an appropriate and desirable moderation in housing activity in most regional markets across Canada. Toronto and Vancouver, in contrast, have continued to experience periods of strong sales and price growth, with housing market strength in these cities supported by such factors as population growth and land scarcity,” according to the budget.

This, despite the fact that household debt levels have reached record levels, again.

Also, when we look at the news coming out of some key sectors, this is what we find:

•  Real gross domestic product (GDP) by industry increased in every province and territory except New Brunswick, Newfoundland and Labrador and Yukon in 2014. Nationally, real GDP by industry rose 2.4% in 2014. (Stats Canada)

• Employment increased by 29,000 in March. The unemployment rate was unchanged at 6.8%.

• Oil prices are showing signs of improvement and so is the loonie. (Stats Canada)

•  Average wages have grown by 2% over the past twelve months, which means that incomes are rising a little faster than the average price growth, as measured by the Consumer Price Index (CPIP), which stood at 1% in February. While not spectacular, this signals a small expansion in the purchasing power of the average Canadian worker. (TMG’s David Larock: http://www.movesmartly.com/2015/04/how-will-the-latest-employment-data-affect-canadian-mortgage-rates-april-13-2015.html )

• Canadian housing starts rose much more sharply than expected in March as groundbreaking on new condominiums and apartments in urban areas surged 48.2%. (CMHC)

•  A robust U.S. economy will ensure that slow growth will not be Canada’s new normal (Fraser Institute)

All of this good news in the Canadian economy trumps the small news and makes Canada a growing, stable economy that can weather short term fluctuations for a strong and prosperous future.

A Lesson in Customer Service

By Mark Kerzner, President TMG The Mortgage Group

How many times have you heard one of the following?

1.  “It’s our policy.”
2.  “I have to check the policy manual”
3.  “Because I have to”
4.  “I am just going on my break”
5.  “Let me provide you with a website address where you can fill in your comments”

… and the list goes on and on and on. While these are just a sampling of my personal business pet peeves, my blood boils as I simply recall them and write them down.

Let me share a couple of challenges I had with the customer service practices of a car rental agency as a lesson on how not to treat customers.

Last winter I rented a car at the Calgary airport.  After completing the compulsory paperwork the rental agent handed me my keys.  To my surprise there were three identical keys on the key chain.  Over the past few years I have become a personal fan of the keyless car starter if for no other reason than to reduce the bulk of what I have to carry around. I was travelling on my own, so I said I would just take one of the keys, asked that they keep the other two. They refused. The reason: because I have to take them all.

I didn’t let it go quite that easily and tried to reason. I said, “If I happen to lose the keys, I would lose all of them if I had three with me on the single key chain. At least if you have the spare you could help me out.”  It didn’t work.  At that point I simply didn’t have the energy to continue and went on my way.



A few months later I had the exact same experience. Knowing where this was likely going to end I decided to circumvent the conversation by asking how I could get feedback to a decision maker so that they would have the opportunity – yes, I do believe it was an opportunity -- to hear feedback directly from a customer. The rental clerk said she could provide me with the contact information for the owner of the franchise and I could give my feedback directly to them. I was happy with this outcome until I got the “business card” of the franchise owner. (See below)



Despite my frustration at receiving a form email alias rather than contact for an accountable human being, I decided to follow through with the feedback form and went to the main home page of the company to provide it.  By the time I was ready to submit I had some additional feedback as well. The car that I was given was dirty inside and out. I wrote up a nice, long note, and went to submit it when the system bounced me out. Nothing I wrote was saved and I would have had to rewrite it all again.  Which I did not do.

By the way, I was not able to submit feedback to the survey URL provided from the rental agent. There was no room for feedback and I would have had to provide the digital Rental Record number to complete the survey.  In the end the car rental company never had the opportunity to hear my feedback and lost my future business.

I guess what I was hoping for was an opportunity to help empower the client service people so that they could remove the above excuses from their vocabularies. 

As mortgage brokers, we know our business is evolving and has become more competitive.  Our clients are asking us for more than they did just a few years ago. Many of our clients are better educated about finances and mortgages when they speak with us. They have already done research online or with their personal bankers.  This is actually a good thing for both the client and us. 

As problem solvers we ensure clients have the best product for their unique circumstances.  But it’s also about being there with answers and not just standard phrases such as “those are the lenders’ rules”. We owe it to our clients to explain why policies are what they are. This means we must be more diligent about knowing our lenders, their products, and the policies. We need to connect with underwriters and BDMs to makes sure of the varying conditions and be informed with recent changes.

It also means keeping in regular contact with clients to keep them informed of what’s happening in the industry and how those changes impacts them. And, if there is a complaint, then we need to listen to what they’re saying and find ways to continually improve our level of customer service.