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No. 3 Harman Arora Word of mouth is still a powerful tool for mortgage brokers. Just ask Harman Arora, a mortgage expert with DLC House in Calgary, who debuts on the CMP Top 75 Brokers list at No. 4, having $126 million in funded volume without the use of advertising.
Q&A WITH NO. 3 CMP: Which product was your best performer this year?
Y.O.Y. FUNDED VOLUME
Arora: There is no single product that I rely on, but 50 per cent is conventional. My portfolio consists of an almost even split in construction mortgages, income-qualified conventional, B lenders and private mortgages.
CMP: If you use rate sites, do you feel you could have had those numbers not using a rate site? Arora: I don’t use rate sites.
CMP: What is your No. 1 marketing technique that you credit with building your business? Arora: I have never advertise. My clients have always referred me to other clients and Realtors, so I have always relied on my service to be appreciated by word of mouth.
CMP: To what do you attribute to your growing success? Arora: My business this year is same year after year. I attribute it to consistent effort and a thorough knowledge of the products offered by each lender.
CMP: Is there one single opportunity brokers are letting slip through their fingers? Arora: [Brokers] don’t pick up the phone. Some also take clients for granted and don’t keep them informed throughout the entire mortgage process.
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