It's hard to answer that really. Your theory could be correct or it could be that they were quoting 2 totally different products and features.
There are around 50 lenders that a given broker can choose to work with and each have totally different quirks, features, options and commissions. To top it off these rates and promos often change daily! Just over an hour ago, TD released a new cashback promo for example. So in your scenario, the first broker may not have known (or chosen not to work with the lender) that the second broker quoted you and vice versa. Edited to add: In this same scenario, Broker A could have access to better rates than Broker B.
In addition, each broker may have different strategies or principles when it comes to both cutting their commission for clients and what value they attach to their work.
So I guess what I am trying to say in a very round about way is that its not as simple as 2 people quoting on the same product. Make sense?
There are around 50 lenders that a given broker can choose to work with and each have totally different quirks, features, options and commissions. To top it off these rates and promos often change daily! Just over an hour ago, TD released a new cashback promo for example. So in your scenario, the first broker may not have known (or chosen not to work with the lender) that the second broker quoted you and vice versa. Edited to add: In this same scenario, Broker A could have access to better rates than Broker B.
In addition, each broker may have different strategies or principles when it comes to both cutting their commission for clients and what value they attach to their work.
So I guess what I am trying to say in a very round about way is that its not as simple as 2 people quoting on the same product. Make sense?
Last edited by canadian gal on Sep 6th, 2019 5:21 pm, edited 2 times in total.