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Realtor-client incentives raise concerns
By Vernon Clement Jones ... MortgageBrokerNews.ca
Talk about one of the channel’s big banks is raising broker eyebrows in B.C., along with concerns the lender has sweetened its referral offer to Realtors with paid appraisals and legal for clients.
“In a presentation to a real estate office this morning, Realtors were offered that if they avoid going through the broker channel and refer directly to the branch, they will offer the clients free legals, free appraisals and pay 50 bps directly to the Realtor,” says one brokerage head in an email to colleagues Monday, and obtained by MortgageBrokerNews.ca. “Does anyone have any thoughts on this as it seems to be a somewhat better offer then what we as experienced status'd brokers have access to.”
Concern about a possible double-standard was first raised last year as news broke the lender was actively growing its use of Realtors as referral partners as well as its use of brokers.
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