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Posted on Jul 17, 2014 in Business Tips

Marketing tips for mortgage companies in Ottawa

The real estate market has known quite the fluctuations over the last 5 years, which has significantly impacted mortgage companies and financial institutions operating in the field. Of course, the greatest impact has been on the families and individuals wanting to purchase a home or to take out equity on their property, but the market changes were also perceived by the mortgage brokers and companies. As a result, they needed to design and implement new marketing strategies, in order to attract customers and re-give them confidence in their purchasing power and in the market stability. Many brokers and companies believed that if they were simply marketing low Ottawa mortgage rates, then potential homebuyers would be instantly attracted to their offerings, but in reality, people wanted more than just affordable rates. They wanted to feel that their brokers were giving them the best possible options to choose from and a sense of stability, which required different marketing strategies.


Of course, low Ottawa mortgage rates were something every interested buyer was interested in, but every single mortgage company, financial institution or broker would market low interest rates. In order for mortgage companies in Ottawa to attract as many clients as possible, they should adopt a different approach: the customisation of services. Some people are more interested in a high level of flexibility when it comes to the terms and conditions of their mortgage than they are in the interest rate, which means they may be willing to accept a slightly higher rate if it comes with flexible terms. Others may be willing to offer a higher down payment, while some can not afford to put down a significant amount of money, which is why the success of mortgage companies and brokers in Ottawa depends on them advertising and promoting personalised services, which can suit and fit different types of needs from different types of clients. When people hear that a certain service or a certain broker can provide them not just with standardised offerings and alternatives, but with customised options to best suit their needs, they are immediately drawn to that service.


Marketing their services as ones that offer people variety of choices is also a wining strategy for mortgage companies and brokers in Ottawa. Since the market has known such significant fluctuations, banks have straightened their loan terms and conditions, which limited even further the alternatives of buyers. To that extent, mortgage brokers and companies should market their services in opposition to those provided by banks, as services that offer diversity and variety of options. All of these marketing tips, combined of course with the traditional promotion of low Ottawa mortgage rates, can very well ensure the marketing success of a professional mortgage broker or company in Ottawa. Gradually, the market will certainly begin to balance and when that happens, it would be extremely advantageous to already have a stable and rich portfolio of clients.