You want to partner with a reliable mortgage broker if possible. There are instances though in which you might think you already have one, but you don’t. Halfway through the process, you realise that you have the wrong broker. You just can’t keep working together. In this case, you must not have second thoughts about finding a new one. Besides, you don’t work on a contractual basis. If you decide to end your relationship as you have not found the perfect match, it is your right. To help you make a better decision, here are some reasons why it might be time to change your broker.
- You’re not given enough time and attention. For someone who has not enough knowledge about buying houses, you definitely need attention. You can’t be a second priority. You want to make sure that you get that dream house in no time. You must feel as if you are given attention, regardless of your financial status. There are brokers who give priority to those who are rich enough to close the deal soon. This is the kind of person you must avoid. Banks and firms will most likely judge you for that. You don’t need your broker doing the same thing.
- You’re being fooled to partner with the wrong bank. You want an honest broker. You would like to complete the transaction soon. Therefore, you need someone who will tell you the real situation. You must be given the pros and cons of each choice. You must not be left in the dark just because he wants you to choose the bank or firm where he gets more commission. This is beneficial for the broker but definitely not for you.
- Your working styles just don’t match. You need a mortgage broker who understands you. Perhaps, you are a very indecisive person. You might also be very inquisitive. You also keep going back and forth with your decision. Who cares? You are the client. Therefore, you have to be understood. If your broker can’t, it is time to leave him. It is like being married to someone who just does not get you.
- The broker shows no independence. It doesn’t pay to be in a partnership with a mortgage broker who is tied to a bank or firm. This means that he will be prone to bias. His goal is to match you with the firm he is working for and not give you impartial information. Avoid dealing with these people as much as possible if you don’t want to end up making the wrong decision.
In the end, you have the choice as to whether or not to continue your partnership. Make the right move.