Ethics and Percentage Earned

Sales Forum

 #31
Gilbert

Quote:
Originally Posted by Jorel
The mortgage broker knows this ahead of time and saves the borrowers the time and grief of having to go to this bank and finds another lending institution that is fine with all these circumstances but the borrower has to pay a higher rate.
Nobody works for free and the clients have to know you're getting paid somehow. Do clients ask where mortgage brokers make their money? Do mortgage brokers typically volunteer this information?

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 #32
Snowman

Good things are seldom cheep and cheep things are seldom good.

If your upfront about the % and the customer sees the value then that’s fine.

 #33
Jorel

Quote:
Originally Posted by Gilbert
Do clients ask where mortgage brokers make their money?
No, people are more concerned with themselves than they are with other people. Most people I have worked with only complain that it is too much

Quote:
Originally Posted by Gilbert
Do mortgage brokers typically volunteer this information?
No, my lawyer advises me against volunteering information

But it is covered in the HUD1 when the client signs the contracts. But 40% of people don't read their contract.

I have never, oops rarely purchased a product where the sales person tells me how they make their money. I just assume it is off of commision.

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