I recently read a column online by a realtor in Ontario – “start selling for the hugs”.

It started with “one of the best moments of a real estate career is when we receive hugs from our clients. You know the moment, when you tell the buyers that their offer has been accepted, or the sellers that their home finally sold. It is the magical moment in every transaction and the fuel that keeps us coming back for more.”

I can totally relate!

The mortgage industry also focuses on the numbers – the numbers of deals we’ve done, our funding volume, our funding ratio (how many deals to we fund versus the total number we submit), etc. And just like a Glenn, the realtor/writer of the column, doesn’t sell houses, he “finds homes for people to build a great future for themselves and their family”, I don’t sell mortgages.

I am responsible for educating buyers of all that is out there for them, including what I may or may not be able to offer, and advising them of the pros and cons of each option so that THEY can come to a decision about what is the best course of action for them and their family.

As I always say, it can’t be all about rate.  Often when clients focus on rate, they lose focus on their future and they lose control of their mortgage.  What are their plans, personally and professionally, for the next 1, 3, 5 or 10 years and which product best fits those plans so not only are they paying the least amount of interest, but minimizing the penalty they could incur (remember, the average mortgage contract is broken every three years in Canada meaning approx. 72% of mortgage holders are paying a penalty), and aligning pre-payment privileges with client’s financial goals.

Penalty calculations have a huge impact on the total cost of a mortgage, but most mortgage holders don’t even know how their penalty is calculated and each financial institution has their calculation for these penalties and some are far more restrictive, and expensive to the consumer, than others.

Just as in real estate, the bulk of a Mortgage Broker’s business generally comes from  repeat and referral-based business. A referral is sending someone you care about to someone you trust. It is actually an emotional referral.

Not to toot my own horn but, people reuse my services time and time again because I care, not because they felt they were just another deal to me – they come back, and refer their friends and family to me, because of the hugs and the emotional support that I provide, not just during the transaction but throughout the life of their mortgage.

So as Glenn says in his blog “start selling real estate for hugs! It will change your business and your life, when you surround yourself with great people.” And, no matter what business you’re in, substitute “real estate” in the sentence above with whatever it is you do and I promise, it’ll make a huge difference in not only what you can accomplish, but in your outlook as well.

It absolutely does make you feel like you are making a difference in people’s lives and “living your life on purpose.”