Escudo de Cabo Rojo
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It's not often I post about something that leads to debate but I feel strongly about this subject. Who cares what someone gets paid if they are providing a service, more options and saving you money? Are banks motivated to give us the best deal possible? We always use a mortgage broker salary broker because we prefer to have a choice and deal with an expert who provides us with options, who we trust to have our best interests at heart. What do you think? In my opinion, this was the best c...omment: JonoMariwood "Brokers don't "sell" anything. They "find" the buyer the best deal based on their particular situation. They can even "find" a mortgage package for a buyer when that buyer's bank has turned them down, because each lender has specific requirements, and those requirements differ for each lender. A broker has access to a large number of lenders, whereas the bank only gives you their package. If we want to see broker commissions, we would also want to see car sales commissions, furniture sale commissions, tech sale commissions, travel sale commissions, etc. And why stop at that, since the "consumer" is paying it all, we should see the salary details for everyone involved in selling goods or services, because after all, the final cost lands on the consumer, and we should be able to "shop around" to find the cheapest deal - the employee being paid the lowest for whatever it is we're looking for. If you want to use this logic, you really have to carry it through to it's final, logical conclusion, which is that all income earned by anyone for doing anything should be revealed. I wonder how many buyers look to see what the real estate commission is. This is something that the seller pays, but it could be argued that, since it's built into the sale price, the buyer is ultimately paying, so shouldn't the buyer have this info and therefore shop around for the lowest real estate commission? At what point does the ridiculousness of this become obvious. If a mortgage broker gets you a 2-year rate of 2.5% on a 25-yr mortgage, and get's a commission of $2000, are you going to turn that down for another broker getting a commission of $1500 for a 2-year rate of 2.75% over 25 years? Unless you're really bad at math, I don't think so. You'd go with the 2.5%." |
