They get paid the least for every mortgage they sell.
The mortgages they originate have the highest customer retention rate.
They cross-sell more than either of the two other mortgage channels.
We’re talking about branch mortgage reps, and the banks would love to reverse their long-term decline in market share.
Here are the latest channel share estimates from RBC Capital Markets’ recently-released Canadian Mortgage Primer.
Sources: RBC Capital Markets estimates, CMHC and CAAMP
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Last modified: April 26, 2014
I would like to see the data per institution, as of course 3 of the biggest banks do not accept broker clients. The broker industry and brokers here should be careful in any statements about volumes, as the numbers would have to be expanded and explained.
It says above that the data comes from RBC Capital Markets estimates, CMHC and CAAMP, not brokers.
Yes, you are right, but if you re-read my post, I was saying it would be nice to see a break down institution by institution.
And their employment turnover rate… Look at the huge number of postings for roard reps on Workopolis.com every week, clealy they are ” burn & churn” positions.TD, RBC, CIBC, BNS all go through reps like peanuts
At the ball park.
RBC does not go through reps like peanuts! RBC is the leading mortgage originator in the country. They cross sell more than any financial institution, and they’re amongst the best in retention. The reason why there are posting for RBC is expansion. RBC’s mortgage sales force nearly doubled over 6 years….
If you think this system isn’t working, then why is RBC the leader in market share….when they (according to customers, journalists, brokers etc) have the highest rates, are the strictest bank and give average mortage advice?
Whomever bashes RBC knows absolutely nothing about banking. Nothing!