When looking for a loan in the best possible conditions, we are often tempted to turn to a broker. This very special job consists in finding personal or real estate credits at the most interesting rates for its clients, in exchange for a small commission. Brokers have many contacts with credit agencies who trust them. They are therefore prime middlemen, but the golden age of their professions seems to be coming to an end. Learn more at tqs-inc.com
A job driven by the real estate market
These past years have been very prolific for the real estate market. With falling interest rates, the number of real estate sales has increased dramatically. Since 90% of buyers use credit, this has also benefited brokers. They often have contacts with credit agencies and real estate agencies and offer very attractive rates to individuals.
However, it seems that the golden age of their profession is coming to an end, especially because banks are beginning to refuse to trust too small brokerage firms. Indeed, the broker also works to ensure the creditworthiness of borrowers to the credit agency. The latter therefore wish to be reassured by the importance of the firm through which they are contacted.
The rise of online credits
Today, to find credit online, simply complete a request in a few minutes and choose the credit of your choice from a very important list of offers compared. Then, in a few clicks and almost without any proof, it is possible to obtain a credit. The money is finally paid into your account a few days later.
The extreme simplification of the procedure makes the services of a broker much less interesting. However, it is especially the access to a detailed and precise comparison of all available offers that makes the intervention of a broker obsolete. All the brokerage work is to get the best rates and compare them. Individuals who access its sites do not really need it anymore.
Automation of the profession
Credit agencies are increasingly automating their service, which has led to the emergence of comparators of very high quality, banks and brokerage firms also automate their operations enormously. For example, a broker hardly ever negotiates a rate directly with a bank representative. Everything is done online.
In these circumstances, it is difficult for a small brokerage firm to emerge and gain the trust of a bank or credit institution. They then turn more to large firms that have all the necessary legal departments.