Quote:
Originally Posted by ranchlandsselling
Against banks: the banks will never offer you their best rate off the bat whereas a broker will because they're competing against said banks.
Now the banks don't do this because they're bad people. They just do it because most people say "okay" and the bank gets a tidy little profit. The brokers don't always help you because they're all nice people and the bank people aren't. The brokers just want to get paid and often that works in the best interest of the client.
Additionally (and this is just from my experience, I'm sure there's some good sales people out there) the average bank employee offering investment advise is completely out to lunch. They're just peddling mutual funds or GIC's that their bank sells.
|
Good post and thank you. Would be interesting if the mortgage specialist could respond to the snipped parts. My thoughts ...
Good? Bad? I find them blatantly dishonest when they'll sit there and tell you that what they're offering you is the absolute best rate available and the best that they can do only to turn around with an improved rate 20 minutes later after being informed that there are better figures elsewhere. No excuse ... just blatant dishonesty. I would be curious why they can't just "offer the best rate off the bat" instead of attempting to make me poorer than I think.
So yes, when someone sits there and tries to sell me a rate telling me that it is the best available when they are aware that it isn't then IMO they are a bad person.
Discuss.