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Tips on Hiring Brokers

by

Abbie Smith

Many Calgary residents dream of getting their own homes so that they can stop renting apartments and houses once and for all. The problem is that buying a house involves a long and sometimes arduous loan process. Many loan applicants find themselves dropping out from the application process because they don t have the patience or the time to wait out the mortgage loan approval. If you face the same dilemma, hire a mortgage broker to help you keep things in check.

When hiring brokers, your first stop should be your friends and colleagues. Your network may be able to help you find the brokers that can get you the home financing you need. For other useful tips to follow, read the following suggestions below.

Post an online ad

In case your friends don t have any useful leads, take advantage of the World Wide Web. Posting a wanted ad online can get you flooded with broker resumes in no time. Give yourself a timetable so you can pay enough attention to each resume. Study each resume carefully and note the brokers worth calling. It might be useful to narrow your search to the top ten candidates so you ll have no trouble interviewing them.

Run a background check

Many

Calgary mortgage brokers

list down their former and current clients as references. If the broker has affiliations with certain financial institutions or companies, chances are he or she will list these too. Call the references provided and ask about the broker s competence and expertise.

Interview the broker

Schedule an interview with the

Calgary mortgage brokers

you re considering. Evaluate each broker carefully and note his or her proficiency. See if the broker s negotiation skills match your expectations and determine if the broker s expertise can help you get your mortgage loan.

Negotiate fees

Once you find a reliable

Calgary mortgage broker

, you have to arrange for the broker s fees. Remember, brokers either receive a fixed rate for their services or they could be paid on a commission basis, so you have to choose how you want to pay the broker. You also have to decide how much you ll pay before you meet with him or her again. By figuring out these aspects, you can enjoy easier negotiation for the broker s fees.

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