Kevin O’Leary has stated that he will be starting a Brokerage that specializes and only offers five year fixed term mortgages. His goal is the make the mortgage process understandable for clients and to help them become Mortgage free as soon as possible. He believes by educating the customer on topics such as how mortgages work and how to save money to pay down their mortgage quicker he will be providing a service that will trump what banks have to offer (hmmm sounds alot like a Mortgage Broker).  O’Leary’s rates will be competitive and his staff of advisors can be reached by phone if any of the clients have questions.

Many Brokers fear O’leary entereing the market because his goal is to “focus on a direct-to-consumer campaign, effectively bypassing mortgage professionals”.  I believe most Brokers are forgetting that what is best for the client is best for for the Broker. We as Brokers are educators. We help our clients find the best mortgage possible and  help them in any way we can. Therefore, if O’leary is offering the best mortgage product for our client we should advise them to use it. If O’Leary’s mortgages are going to be such a great deal it will only mean that other lenders will have to switch their Mortgage products to become more competitive. O’Leary joining the Mortgage Industry means that we, as Brokers will have more options to offer to our clients. As a result Lenders become more competitive between one another and the client will get a better mortgage.

Kevin O’Leary will be hosting a seminar on the Canadian Real Estate Market this Saturday, Nov 24th at the Pan Pacific Vancouver – Crystal Pavillion, 999 Canada Place, Vancouver, BC, V6C 3E1. For tickets email me at [email protected]

Have a great day!

quote taken from – http://www.mortgagebrokernews.ca/news/breaking-news/oleary-exec-on-angry-brokers-i-love-it/124859/