REMIC CEO shares tips ahead of eagerly anticipated MortgageFest appearance
Canadians are increasingly using artificial intelligence (AI) to parse their options before they pick up the phone to call a broker – and that’s a development mortgage professionals need to factor into their approach to clients, according to Real Estate and Mortgage Institute of Canada (REMIC) co-founder and chief executive officer Joe White (pictured top).
“Clients are asking AI about their mortgages before they contact you, which gives you two jobs,” White told Canadian Mortgage Professional ahead of his appearance at MortgageFest Canada at Mississauga’s International Centre, set to kick off tomorrow (September 23).
“Check what they have already researched, because AI states wrong answers with the same confidence as right ones. Then, make your answers the ones AI finds.”
Brokers and mortgage agents should take the time to familiarize themselves with the best ways to maximize their visibility and trust, he said, a pursuit that can take some time to achieve – but bring real results.
“Take the questions clients ask you every week, publish a clear answer to each one using the question itself as the title, show the math, name the source, and sign it. Nobody controls what AI cites, but a clear, sourced, dated answer is much easier for it to use than a general post about mortgage tips.”
White’s presentation, beginning tomorrow at 1:55 p.m. ET, will delve into AI trends and how mortgage brokers can stay ahead of the curve in a fast-changing industry.
The advent of AI tools, according to White, means that brokers need to work even harder to develop an authentic, credible image – particularly with a slick, glossy post now taking mere minutes to put together using the likes of ChatGPT or Claude.
“Anyone can produce a polished post in a minute, so polish proves nothing,” he said. “What holds up is showing your work: real numbers, the source, the date, and your name on it.”
Honing a value proposition in the age of AI
White said REMIC has been hard at work integrating AI into its own systems. The company’s AI tutor Cait now works alongside its licensing courses, he said, so students can ask a question and get an answer tied to the course content.
Meanwhile, its recently unveiled FinFluencer teaches licensed professionals how to create content and build an audience in an increasingly competitive mortgage field.
For White, one of the biggest challenges facing mortgage professionals is the task of keeping pace with digital and AI tools that can now churn out an answer for mortgage shoppers instantaneously.
Sharpening a value proposition starts with focusing on the human touch and steering away from a transactional approach. “Media keeps getting more personal,” he explained. “It went from social, to interest-based feeds, to people getting the exact thing they need the moment they need it.
“A client asking about a penalty on a Tuesday night wants an answer that fits their file, not a general post about penalties. That’s also why trust is harder to signal.”
The value of timing in a rapidly moving industry
What’s more, timing is increasingly important. “Reach on any platform is cheapest early and gets expensive once everyone piles in, the way it went with Facebook and Instagram,” White said. “AI search is that shift happening now and you can’t buy your way in, so the brokers publishing clear answers today are the ones who get cited later.
“Underneath all of it, the more AI does, the more the human relationship is worth. When anyone can get an answer in 10 seconds, what people pay for is access to someone who cares about their situation. Clients follow people more than logins.”
More than 2,000 mortgage professionals are expected to attend the two-day MortgageFest, which will feature a host of educational and networking opportunities as well as full-day trade shows and other attractions including F1 simulators.
White’s advice to attendees to make the most out of the event: “Pick one problem you want solved and ask about it in every relevant conversation you have on the day,” he said. “Before you get in your car, write down the three things you will actually do next week – and put dates on them.”
Make sure to get all the latest news to your inbox on Canada’s mortgage and housing markets by signing up for our free daily newsletter here.
