A few years ago—before I became a mortgage broker myself—I applied for an investment loan through a broker. The experience was smooth, the service exceptional, and the loan was settled within tight deadlines. I was genuinely impressed and decided he would be my go-to broker for any future financing needs.
However, just a few months later, my financial circumstances took an unexpected turn, and I was forced to sell the investment property. I was aware that this would trigger a clawback on the commission he had earned, so I made a point to call him. My intention was to explain the situation honestly, express my gratitude for his assistance, assure him of my future business, and even offer to compensate him for the lost commission.
Unfortunately, the call didn’t go as planned. Before I could even finish explaining, he became defensive—and then outright hostile—due to the clawback. The tone shifted so drastically that I had to end the call. That experience stayed with me. I remember thinking, If I were the broker, I would have handled that conversation very differently.
Fast forward to today—I am now a mortgage broker myself. And I’ve come to deeply understand the realities of this profession. Clawbacks are undoubtedly frustrating; they represent a financial loss for work that has already been done and can also affect our standing with aggregators. But more importantly, I’ve learned that how a broker handles such situations says a lot about their professionalism and commitment to client relationships.
Financial circumstances—and even preferences—can change. It’s part of life. So when clients come to me with a need to sell a property or switch lenders, I take the time to listen and understand their situation. I ask, “How can I support you through this?” That simple question has helped me build stronger, long-term relationships and continue providing value even through challenges.
At the end of the day, being a mortgage broker is not just about securing loans—it’s about understanding people, adapting with them, and supporting them through every stage of their financial journey.
