Convert each offer to net income at your real volume with every fee on the sheet. Two splits ten points apart often net within a few percent once fees and support are counted.
Splits cannot be compared as percentages because they are attached to different fee structures. A 95 percent split with a monthly desk fee, a per file fee, a technology fee and no processing is a different animal from an 80 percent split with all of those carried. The only way to compare is to convert both to dollars at your own volume.
Take your last twelve months of funded files. For each offer, apply the split, subtract every fee at the frequency it is charged, and subtract what you would pay yourself for anything the brokerage does not carry: processing, compliance review, a CRM at full price. What is left is net income. Compare that.
Then add the things a sheet cannot hold: lender status and turnaround, an underwriter on hard files, the community. The eight line worksheet in the full guide does the arithmetic for you.
We publish how to compare us with everyone else because the comparison holds up. Every fee is in writing before you sign. Lender status is top tier from your first submission. Processing, compliance and payroll are carried at head office. The portal is included; BrokerDam is a paid CRM at a member rate, never a bundle. Compensation is top tier and competitive, set against your volume, and worked through on a discovery call with your last twelve months in front of us. We provide the infrastructure. You build the book.
The full guide, with the detail and the numbers.
Net income, not split: how to compare offersSix things that decide whether a new mortgage agent funds files in year one: training, a mentor, lender status, underwriting support and a 90 day plan.
Ten brand names, three parent companies. Who owns what in Canada's mortgage brokerage networks and how that changes the way you read a recruiting pitch.
Most recruiting pitches compete on one number. A framework for comparing brokerages on what lands in your account after fees, royalties and lender status.
Bring your questions to a discovery call and a broker owner will answer them directly.