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Secure Mortgage Referral Strategy for RE/MAX Brokers

Increase mortgage referrals by offering exclusive protection plans to buyer-borrowers, ensuring financial security during unemployment. Compensation rules and promotional contributions. Documents provided by GPL and insured by AVIVA.

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Secure Mortgage Referral Strategy for RE/MAX Brokers

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  1. The Strategy • The RE/MAX broker as an innovative person, offering high added value solutions • Increase your mortgage referrals by providing your buyer-borrower with an attractive free of charge benefit • Respond to (real or potential) worries about their ability to honour their financial commitments • Spread out an eco-system of EXCLUSIVE protection plans • Follows the advertising slogan’s stride

  2. Where Do the Eligible Loans Come From? • Borrower referred by a RE/MAX broker upon purchasing a property • Loan or HELOC (home equity line of credit) referred to a mortgage representative, of one of the 3 partner institutions, assigned to the agency

  3. Coverage • Mortgage payments for the period of time when the buyer-borrower is receiving no income from his main source of employment during the first 12 months after purchasing a property • Reimbursement in principal and interest up to $6,000 per month, up to a maximum of $30,000

  4. Protected Buyer-Borrowers

  5. Types of Eligible Buildings

  6. Facilitate Referrals Notice of Disclosure The financing needs conversation will flow easily as the buyers recognize that they will be benefiting from a reassuring plan. • Web form

  7. To Be Done By the Broker • Determine the employment status of the buyer-borrowers. • The broker (or the agency) registers this information in the data input module. Drop-down menu in e-Z-max. • Salaried • Contractual • Self-employed • Entrepreneur • Independent contractor

  8. Facilitate Referrals Waiver form • To document the refusal • But no one likes to pass up a privilege… Experience has shown us that a great number of buyers will reconsider their choice and will prefer to meet with the mortgage representative.

  9. Rules of Compensation • Reimbursement of 50% if one of the two co-borrowers loses his job • PLEX : Proportional reimbursement in accordance with the surface of the occupied unit • Surface of the occupied unit by the buyer / total surface • A resignation, a voluntary termination of employment or a job loss instigated by the buyer are not eligible for Securi-T protection • The insured will receive unemployment insurance

  10. Two more questions … • Contract of mortgage brokerage • The financing initiate in the bank branch

  11. Promotion and Contributions • Promotional and advertising campaigns • $1,500,000 over 2 years • Television, web, social media, billboards • Financial contributions • Franchisor, agencies, brokers and the 3 partner institutions • Attractive bonus, taking the number of referrals into account • Brokers’ contribution: $40 per referral (plus tax) • And above all… FREE for the clients

  12. Additional Information • The certificates will be issued by GPL, insurance broker. • AVIVA is the insurer. • The documentation will be posted on the Extranet, under the Marketing/Securi-T tab. • Please note: The information presented here is only intended as an overview of the Securi-T protection. For the exact terms and full conditions, please refer to the policy

  13. ALL THE BEST WITH YOUR REFERRALS!

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