The 2016 CMHC consumer survey has been released (attached). The survey is a great way to find out the performance of the brokerage industry, identify new trends and consumer perception, and make sure we as a company are investing in the right resources to help grow your business.
Here are some notable stats from the report:
Gathering Mortgage Information:
- Using Mobile Devices increased to 27% in 2016
- Using Social Media increased to 29% in 2016. 38% of those are First Time Buyers
- Using Social Media is much higher among Broker clients (52%) versus lender clients (17%)
Mortgage broker share is trending upwards for Renewals (now at 26%) and Refinances (now at 38%)
- Providing advice on mortgage strategies can lead to 85% likelihood of new business
- Mortgage consumers are looking for a variety of useful information post closing including mortgage/financial strategies, investment opportunities, and more.
- Only 54% of clients using a broker are contacted post closing!