How Do Mortgage Brokers Get Paid? Not By the Client – Busting Mortgage Myths Series
About this episode of the I Love Edmonton Real Estate Podcast
When I get paid, 99% of the time it is by the lender, not the client. Why do lenders want to work with brokers? Brokers are outsourced lead generators for them; they don’t have to pay salary or benefits. In exchange, they pay based on size and length of mortgage.
What matters to me is getting the client approved in a smooth and painless way. From a client’s perspective, my best interest is to make a great situation for them. Sadly, there are also shady mortgage brokers out there. Look out for interest rates and do your research before you commit. If in doubt, look to the Real Estate Council of Alberta for advice.
Connect with Elissa Fesyk
- Website: https://fesykmarketing.com/
- Facebook: https://www.facebook.com/FesykMarketing/
- Instagram: https://www.instagram.com/fesykmarketing/
More About the I Love Edmonton Real Estate Podcast
Host Jason Scott of The Mortgage Group talks to everyone and anyone who knows real estate in Edmonton.
Learn from local experts and get the inside scoop on anything that impacts Edmonton’s real estate market. Whether you are thinking of buying, selling or investing in the Edmonton market, Jason and his guests are here to help.
We interview top real estate professionals, decision-makers, influencers, and people who can help you learn more about what’s happening in Edmonton.
- If You Have a Great Relationship With Your Bank, Do You Need a Mortgage Broker? Busting Mortgage Myths
- Sarah Leib Offers Advice for Buying and Selling In Edmonton
- Advice from Realtors Simon and Elizabeth Schellenberg
- The Coming Wave of Edmonton Neighborhood Modernization, with David Moriarity
- Having Trouble Getting Your Property Seen? Bruno Schiavon Talks About The Technology You Need To Use