goodbusiness
38 | summer 2017 cmba-achc.ca CmB magazine
The
Hıgh
Road
Putting the client's long-term
needs ahead of your short-term interests
will always pay off in the end
By DuStAn wooDhouSe
a
s with many things in life, that
old addage about taking the
high road is easier to pay lip
service to than to live by. In
the early days of travelling this
path, it can oen feel like a very expensive toll
road. Ultimately though, it's worth the cost.
The Other Lender
e high road oen involves advising clients
on a solution that may direct them away from
you and back to their current lender, their
previous broker, or onwards to another niche
broker altogether. You may struggle the first
time you do this, like you are letting something
go which you should instead be clinging to.
Said struggle gets shorter each time, until
doing the right thing is simply automatic.
Much like farming, this strategy does not
always pay instant dividends; it is a longer-
range approach. It is planting seeds of trust
and integrity that will blossom into well-
formed relationships and a good reputation
over time. is path has the added benefit
of the feel-good factor (admittedly, feeling
good does not pay the bills).
A primary goal for any company should
be to build trust with every single individual
its staff interacts with – from suppliers to
buyers and everyone in between.
What matters is not winning the deal,
it is winning the client.
A company's – and an individual's –
primary motivation should always be to win
trust first, and business second. is is the
foundation upon which all lasting business
relationships are built.
e most common conversation I have on
this topic is around mortgage renewals. It is
important to point out that the best rate is in
fact not what a broker is all about. We all have
access to the same rates, and in 90 per cent of
cases, a lender will drop to match a broker's
rate in an effort to retain their current clients.
But a transaction must have merit beyond
rate, specifically: quality service, education,
and informed, detailed answers to questions.
Brokers with integrity and knowledge are not
simply order-takers. ey are expert advisors
who ask the clients as many questions as
the clients ask them.
In many cases the client's current mortgage
