One issue that constantly rears its head in our industry is the dreaded 'fee for service'! And whilst the debate surrounding this idea rages my philosophy has always remained quite simple: if you value your worth, charging a fee should be a no brainer! We have been charging fees for over 5 years now and have encountered very few issues in doing so. The sooner our industry as a whole embraces the concept of fee-for-service the better. Other professionals charge a fee for their time, and as a consequence they are viewed as just that - professionals! Whilst I believe it is absolutely imperative that as professionals we ensure compensation for our services it is important to note that you need to be able to justify doing so. I am a specialist mortgage consultant and provide specialist advice for a niche sector of the market. I am not a 'jack of all trades'. I specialise in meeting the finance requirements of property investors as well as borrowers with mortgage needs that are generally 'outside the box' of traditional lending avenues. As such my justification is clear - clients pay for my expertise and knowledge. I value my time and the skills and knowledge I can provide a client - and subsequently so do they. If you are simply another cog in the machine that is trying to write stock standard bank business for the status quo then you are competing not only with a heck of a lot of other rate jockeys out there but the big banks themselves. You bring nothing of value to the client that they couldn't get from 100s of other brokers, the banks or ratecity.com.au!
http://www.loanscenarios.com.au/Thursday, March 31, 2011
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Great blog... This great mortgages broker debate is to helps for the homeowners for any further information. Its very important to understand about this articles to note that you need to be able to justify doing so.
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